Which of the Following Terms Is Used in the Medical

question 86

Multiple Choice

Which of the following terms is used in the medical insurance industry to describe the percentage of the hospital bill borne by the patient?

• A)Premium
• B)Deductible
• C)Coinsurance rate
• D)Coverage rate

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Definitions:

Gain Or Loss

The financial result that occurs when the selling price of an asset differs from its purchase price.

Initial Cost

The initial expense of acquiring an asset, including purchase price, setup, and preparation costs.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated to depreciation expense since the asset was put into use.

Gain Or Loss

The financial result that occurs when the selling price of an asset differs from its purchase price, either positive (gain) or negative (loss).