Medicaid Is an Example of a Funding Program That Is

question 6

True/False

Medicaid is an example of a funding program that is considered an entitlement because when the child meets the eligibility criteria, the child is guaranteed all services covered by the program.

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Definitions:

GAAP

Generally Accepted Accounting Principles, which are a set of accounting standards and practices used to prepare financial statements.

Financial Instruments

Contracts that give rise to both a financial asset of one entity and a financial liability or equity instrument of another entity.

Discounted Note

A promissory note that is sold or issued for less than its face value and upon maturity pays out its full face value, effectively generating interest for the holder.