MATCHING KEY TERMS AND DEFINITIONS

question 58

Multiple Choice

MATCHING KEY TERMS AND DEFINITIONS
-Combines a health plan with a high deductible with a health savings account that the insured uses to pay for deductibles and medical care.

• A)Summary Plan Description
• B)Defined contribution plan
• C)Health Maintenance Organization
• D)Flexible benefits
• E)Workers' compensation
• F)Domestic partner benefits
• G)Legally required benefits
• H)Unemployment compensation
• I)Social Security
• J)PPO
• K)Employee benefits
• L)ERISA
• M)Consumer driven health plan (CDHP)
• N)Flexible spending accounts
• O)Defined benefit plan

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Definitions:

Outputs

Outputs are the goods or services produced by a company or an economic system as a result of its inputs and processes.

Controllable Variance

The portion of variance that can be directly managed or influenced by a manager, often related to costs within a specific period.

Variable Overhead

Costs that fluctuate with the level of output or production activity, such as utilities for a manufacturing line.

Budgeted Variable Overhead

Estimated costs related to variable overhead that are planned or expected for a specific period in the budgeting process.