Which of the Following Statements Is True About Health Savings

question 74

Multiple Choice

Which of the following statements is true about health savings accounts (HSAs) ?

• A)There is no restriction on the kind of health insurance taxpayers must carry in order to qualify for an HSA.
• B)Contributions to HSAs are not deductible for adjusted gross income (AGI), but are treated as an itemized deduction.
• C)Individuals taking distributions from HSAs which are not for medical expenses are subject to a 50 percent penalty.
• D)Distributions from HSAs are tax and penalty free when used for qualified medical expenses.
• E)Taxpayers may take tax and penalty free distributions from HSAs to purchase automobiles after age 65.

Learn the accounting treatments for natural resources including depletion.

Understand the concept of production possibility curve (PPC) and its implications.

Calculate and interpret the opportunity cost in various economic scenarios.

Determine the shifts in the production possibility curve and their economic implications.

---

Definitions:

Intellectual Stimulation

The process of encouraging creative and critical thinking, often used in leadership to foster innovation and problem-solving.

Contingent Reward

A leadership approach that establishes a clear agreement between leaders and followers regarding the expectations and rewards for meeting those expectations.

Transformational Leaders

Leaders who inspire and motivate followers to exceed their own interests for the good of the organization and foster significant changes.

Role Models

Individuals admired for their achievements and qualities, serving as examples for others to emulate in their personal or professional lives.