Under Partial Self-Funding of Disability Insurance,employers Pay Claims from Their

question 13

True/False

Under partial self-funding of disability insurance,employers pay claims from their assets invested in a trust fund,for a limited period or up to a maximum dollar amount.(Funding Disability Insurance Programs)

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Definitions:

Normal Balance

The side (debit or credit) of an account that is typically increased in accounting.

Financial Statement

Reports that provide detailed information about a company's financial performance and position.

Financial Statement

Documents that provide an overview of a company's financial condition in both short and long term, including balance sheets, income statements, and statements of cash flows.

Permanent/Temporary

In accounting, refers to the classification of accounts based on their longevity; permanent accounts are cumulative over time (e.g., assets, liabilities, equity), while temporary accounts are closed at the end of each accounting period (e.g., revenues, expenses).