Answer the Following Questions Using the Information Below

question 63

Multiple Choice

Answer the following questions using the information below:
Monster Vehicle Rental Corporation has two departments, Car Rental and Truck Rental. Central costs may be allocated to the two departments in various ways.

-If the facility lease expense of $350,000 is allocated on the basis of vehicles in the fleet, the amount allocated to the Truck Rental Department would be:

• A)$245,000
• B)$105,000
• C)$200,000
• D)$150,000

Recognize the growth and importance of long-term care insurance over the past 50 years.

Describe the role and limitations of Medigap and Blue Shield insurance plans in supplementing Medicare.

Distinguish between different coverage and payment conditions of Medicare and Medicaid, including international coverage and skilled nursing facility care.

Understand the features and benefits of disability income policies and the importance of choosing the right policy.

---

Definitions:

Regressive

Describing a tax system in which the tax rate decreases as the taxable amount increases, often placing a higher burden on lower-income individuals.

Proportional

Relating to or denoting a relationship where quantities or sizes are in direct relation to each other.

Tax Tables

A set of charts provided by the IRS that help taxpayers determine the amount of federal income tax they owe based on their income level and filing status.

Tax Rate Schedules

Detailed charts provided by the IRS that determine the amount of tax an individual or entity owes based on their income level.