As a Result of the Affordable Care Act Passed in 2010

question 39

Multiple Choice

As a result of the Affordable Care Act passed in 2010:

• A) insurance companies are allowed to discriminate against those with medical conditions that are too expensive to treat.
• B) individuals who cannot afford health insurance have all been enrolled in Medicaid.
• C) individuals who can afford health insurance must purchase it or pay a penalty.
• D) the government is no longer attempting to control the costs of providing medical care.

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Definitions:

Unadjusted Trial Balance

A list of all the balances in a company’s accounts before any adjusting entries are made for reporting purposes.

Management Report

A document that provides managers with information necessary to make decisions, including financial and operational data.

Accounting Period

A specific time span for which financial statements are prepared, commonly a quarter or a year.

Dividends Account

An account used in bookkeeping to track dividends declared by a company to be paid out to its shareholders.