Which of the Following Changes Were Introduced with the Passage

question 1

Multiple Choice

Which of the following changes were introduced with the passage of the Affordable Care Act?

• A) increased government regulation of insurance markets and reduced reliance on private health insurance providers
• B) introduction of new subsidies for the purchase of health insurance and expanded private health insurance through state exchanges
• C) elimination of subsidies for the purchase of health insurance and new requirements that low-income individuals bear the full burden of insurance costs
• D) expanded coverage by government and reduced reliance on private health insurance providers

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period.

Current Cost

The present-day cost to replace an asset or to purchase an equivalent asset, reflecting current market prices.

Actual Cost

The actual amount of money spent to acquire an asset, including all costs necessary to get the asset ready for its intended use.

Specific Identification

An inventory valuation method in which the cost of each individual item in inventory is tracked and used to compute cost of goods sold.