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Reference - Multiplication

question 40

Multiple Choice

Reference - Multiplication. Phyllis, who is 30 years old, works for We Add for You Accounting. Phyllis has worked there for a number of years and is considering quitting in order to spend more time with her three active triplets, Sunny, Fussy, and Perky. She asks her boss, Bolivar, about the pension plan at We Add for You. Her boss tells her that she has no entitlement to information until she is at least 60 years old. Phyllis also asks about retaining her medical insurance protection if she quits and is told that she would have no right to do so. Bolivar also throws in that he has been monitoring her conversations and that he particularly enjoys the conversations between her and her single female friends involving failed dating experiences. He asks her to keep those up. Phyllis tells him that her personal phone calls are none of his business. Bolivar says that he can listen if he wants because the phones are his. Phyllis ends up starting her own company called We Multiply for You, and makes much, much more money. (In answering the following questions, assume all federal laws apply and that any pension and medical plan qualifies for regulation under federal law.) Which of the following addresses the retention of medical benefits upon leaving a job?

Definitions:

Accounting Profit

The difference between total monetary revenue and total monetary costs, and is calculated by subtracting explicit costs from total revenue.

Interest Rate

The percentage of a loan amount charged to the borrower or paid to an investor, serving as the cost of borrowing or the return on investment.

Accounting Profits

The net income for a company as calculated through the standard accounting principles, reflecting revenues minus costs and expenses.

Savings Account

A bank account that earns interest on the deposited funds, offering a safe way to save money for future use.