Medicaid Was the First Social Welfare Program That Was Introduced

question 31

True/False

Medicaid was the first social welfare program that was introduced in the United States in 1930.

---

Definitions:

Earnings

The net profits of a company after all expenses have been deducted from revenues.

Stockholders

Individuals or entities that own shares in a corporation, thereby having an ownership interest in the company.

Revenue Accounts

Accounts that track the income generated from normal business operations, including sales revenue, service revenue, and interest revenue.

Credits

Accounting entries that increase liabilities or equity or decrease assets, representing the opposite of debits.