Which of the Following Is NOT a Consequence of the Introduction

question 178

Multiple Choice

Which of the following is NOT a consequence of the introduction of the Medicare program?

• A) an increased quantity of medical services demanded
• B) an increased ability for the elderly to obtain medical services
• C) an increased ability for the poor to obtain medical services
• D) a reduced demand for medical services

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Definitions:

Prior Period Adjustment

Adjustments made to the financial statements of a prior period to correct an error or to account for a retroactive application of new accounting policies.

Retained Earnings

The share of a company's earnings that are held back and not distributed as dividends to its shareholders.

Net Income

Net income is the total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, indicating the company's financial performance.

Retained Earnings

The part of net profits that is not distributed as dividends but is kept by the company for reinvestment in its primary business or for debt repayment.