Answer: D. Vesey had purchased his freedom after winning the lottery.
Explanation:
Denmark Vasey was a African American leader in the early 19th century who was born into slavery but was able to buy his freedom when he won a lottery.
In 1822, he was accused of a conspiracy to organize a slavery revolt that would have seen thousands of African Americans killing slave owners in South Carolina and then sailing to Haiti. They had him executed at the age of 55 for this alleged crime.
As a technical project manager, you have decided to propose implementing a prototyping methodology for a small web-based design project. What is the first step you will follow in this project
Answer: Identify user requirements.
Explanation:
The first thing that the manager needs to do is to find out the user requirements for such design products. This is akin to identifying the problem in the scientific method.
Knowing the user requirements of such a product would then help the manager come up with possible solutions that can then be developed into prototypes to see if they satisfy the requirements that users have.
WV Construction has two divisions: Remodeling and New Home Construction. Each division has an on-site supervisor who is paid a salary of $74,000 annually and one salaried estimator who is paid $42,000 annually. The corporate office has two office administrative assistants who are paid salaries of $46,000 and $35,000 annually. The president's salary is $147,000. How much of these salaries are common fixed expenses?
$312,000
Office administrative assistant $ 74,000
Office administrative assistant 49,000
President's salary 189,000
Common fixed expenses is the sum of the mentioned amounts above
= $ 312,000
if that one is not good then here is a other answer
WV Construction two divisions common fixed expenses is $312000
WV Construction two divisions Compensation cost that can't be distributed on a division astute premise are common fixed costs and can't be dispensed toward any office.
Total common fixed expense = $74000 + $49000 + $189000
Total common fixed expense = $312000
___________ are actually giant specialty stores. They feature stores the size of airplane hangars that carry a deep assortment of a particular line with a knowledgeable staff. These stores are prevalent in a wide range of categories, including books, baby gear, toys, electronics, home improvement products, and even pet supplies.
Answer: Category killers
Explanation:
A specialty store as the name implies, is one that specializes in a certain category of goods. They however provide a range of products and brands within that category.
When a specialty store becomes really big and provides a very deep assortment of a particular line of goods along with very knowledgeable staff to help, they become known as Category killers because they would be providing a whole lot of brands and products under the category they operate in.
An example would be BestBuy or Home Depot.
If a firm has invested in corporate bonds, it may engage in a financial futures contract in order to protect itself from :___________
a. declining interest rates.
b. rising interest rates.
c. inflation.
d. changes in hedging activities.
Answer:
b. rising interest rates.
Explanation:
A bond can be defined as a debt or fixed investment security, in which a bondholder (creditor or investor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time.
Generally, the bond issuer is expected to return the principal at maturity with an agreed upon interest to the bondholder, which is payable at fixed intervals.
The par value of a bond is its face value and it comprises of its total dollar amount as well as its maturity value. Also, the par value of a bond gives the basis on which periodic interest is paid. Thus, a bond is issued at par value when the market rate of interest is the same as the contract rate of interest. This simply means that, a bond would be issued at par (face) value when the bond's stated rated is significantly equal to the effective or market interest rate on the specific date it was issued.
In Economics, bonds could either be issued at discount or premium.
Generally, if a business firm has invested in corporate bonds, it may engage in a financial futures contract in order to protect itself from rising interest rates.
Walters manufactures a specialty food product that can currently be sold for $21.50 per unit and has 19,500 units on hand. Alternatively, it can be further processed at a cost of $11,500 and converted into 11,500 units of Deluxe and 5,500 units of Super. The selling price of Deluxe and Super are $31.50 and $19.50, respectively. The incremental net income of processing further would be:
Answer:
the incremental net income of processing further is $38,750
Explanation:
The computation of the incremental net income of processing further is given below:
= (11,500 units × $31.50 + 5,500 units × $19.50 - $11,500) - ($19,500 × $21.50)
= ($362,250 + $107,250 - $11,500) - $419,250
= $38,750
Hence, the incremental net income of processing further is $38,750
In eight years, when he is discharged from the Air Force, Steve wants to buy a $30,000 power boat. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have the $30,000 at the end of eight years if he can invest money at:
Answer:
The correct answer is:
(1) $15,054
(2) $12,990
Explanation:
The required table is not given in the question. Please find below the attachment of the table.
Given:
Future value,
= $30,000
If discounting rate is 9%, the present value will be:
= [tex]Future \ value\times PV \ factor(9 \ percent, 8 \ years)[/tex]
= [tex]30000\times (\frac{1}{1.09} )^8[/tex]
= [tex]30000\times 0.5018[/tex]
= [tex]15,054[/tex] ($)
If discounting rate is 11%, the present value will be:
= [tex]Future \ value\times PV \ factor(11 \ percent, 8 \ years)[/tex]
= [tex]30000\times (\frac{1}{1.11} )^6[/tex]
= [tex]30000\times 0.433[/tex]
= [tex]12,990[/tex] ($)
To select a strategy in a two-person, zero-sum game, Player A follows a ________ procedure and Player B follows a ________ procedure.
Answer:
None of these is correct
Explanation:
None of these is correct. The correct answer is that; it should be minimax
For most goods in an economy, the primary signal that guides the decisions of buyers and sellers is a. quality. b. advertising.
Answer:
There will be more options than 2 of them. Probably it was a brainly error.
For most goods in an economy, the primary signal that guides the decisions of buyers and sellers is price.
You just returned from some extensive traveling.You started your trip with $10,000 in your pocket.You spent 1.32 million pesos in Chile where Ps1 = $.001642.You spent Ps36,000 in Uruguay where Ps1 = $.03526.Then on the way home,you spent Ps29,000 in Mexico where $1 = Ps18.8709.How many dollars did you have left by the time you returned to the U.S.?
A) $3,889.07
B) $4,001.84
C) $4,110.27
D) $5,026.44
E) $4,299.03
Answer:
Option D = 5026.45
Explanation:
Amount at the start of the trip = $10000
Change the 1 million pesos into dollars, Chile = 1320000 x 0.001642 = 2167.44
Uruguay = 36000 x 0.03526 = 1269.36
Mexico = 29000 / 18.8709 = 1536.75
Dollars left at time return to U.S. = $10000 - 2167.44 - 1269.36 - 1536.75
Dollars left at time return to U.S. = 5026.45
Option D = 5026.44
The second step in developing a Performance Measurement Baseline (PMB) is to: Define and scope the work Schedule the work Prepare the Integrated Program Management Report (IPMR) Budget the work
Answer:
The second step in developing a Performance Measurement Baseline (PMB) is to:
Schedule the work.
Explanation:
After determining the goal and deliverables of the project, the scope baseline is created using the scope statement, the work breakdown structure and dictionary. These documents require stakeholders approval. Then, the second step is to determine the sequence of activities, estimate the durations of activities, and determine the resource needs of the scheduled activities.
Costs associated with two alternatives, code-named Q and R, being considered by Albiston Corporation are listed below: Alternative Q Alternative R Supplies costs$79,000 $79,000 Power costs$36,600 $35,600 Inspection costs$32,000 $35,600 Assembly costs$48,000 $48,000 Required: a. Which costs are relevant and which are not relevant in the choice between these two alternatives
Answer:
Albiston Corporation
Relevant and Irrelevant Costs:
Relevant Costs:
Alternative Q Alternative R
Power costs $36,600 $35,600
Inspection costs $32,000 $35,600
Irrelevant Costs:
Alternative Q Alternative R
Supplies costs $79,000 $79,000
Assembly costs $48,000 $48,000
Explanation:
a) Data and Comparisons:
Alternative Q Alternative R
Supplies costs $79,000 $79,000
Power costs $36,600 $35,600
Inspection costs $32,000 $35,600
Assembly costs $48,000 $48,000
b) Relevant costs make a difference in the choice between alternative Q or R. The costs that are the same in amount are not relevant. Supplies costs and Assembly costs are two irrelevant costs, while Power costs and Inspection costs are relevant because they are not the same under the two alternatives. They make a difference in the choice of each alternative.
The current price for a good is $, and units are demanded at that price. The price elasticity of demand for the good is . When the price of the good drops by percent to $, consumer surplus _______ increases decreases by $ nothing. (Enter your response to the nearest penny.)
Answer:
Consumer surplus decreases by $180.
Explanation:
Current consumer surplus = $25 * 90 unit = $2250
If the price of goods drop to $23 then the new consumer surplus will be
$23 * 90 units = $2070
The change in consumer surplus is $180 .
Compute the payback period for each of these two separate investments:
a. A new operating system for an existing machine is expected to cost $290,000 and have a useful life of four years. The system yields an incremental after-tax income of $83,653 each year after deducting its straight-line depreciation. The predicted salvage value of the system is $11,000.
b. A machine costs $200,000, has a $15,000 salvage value, is expected to last eleven years, and will generate an after-tax income of $46,000 per year after straight-line depreciation.
Answer:
1.89 years
3.18 years
Explanation:
Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows
Payback period = Amount invested / cash flow
Cash flow = net income + depreciation
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
(290,000 -11,000) / 4 = 69,750
Cash flow = $83,653 + 69,750 = 153,403
Payback = $290,000 / 153,403 = 1.89
(200,000 - 15,000) / 11 = 16,818.18
Cash flow = $46,000 + 16,818.18 = 62,818.18
Payback = 200,000 / 62,818.18 = 3.18
1.57
You are annoyed by receiving identical marketing messages from an online shopping site you have used. If the company wishes to maintain a good relationship with you, which of the following CRM components needs to be addressed to improve customer satisfaction?
a. Privacy.
b. Mining social media inputs.
c. Cleaning up the data.
d. Customers expect more.
Answer: c. Cleaning up the data.
Explanation:
Cleaning up data in regards to Customer Relationship Management (CRM) refers to making changes to the messages sent to customers such that they are different or at the very least offer some new information that the customer has not seen before.
It is very important to do this because people do not like receiving the same messages over and over again as this could be considered spamming. This would lead to them unsubscribing from the service.
In a perpetual inventory system a.a count must be made in order to know the inventory amount. b.the inventory records cannot be computerized. c.the amount of inventory for sale and the amount sold are not listed in the inventory account. d.each purchase and sale of inventory is recorded in the inventory account.
Answer:
d. each purchase and sale of inventory is recorded in the inventory account.
Explanation:
The perpetual inventory system keeps record of inventory and cost of sales after each and every transaction. Its records are always updated after every purchase or sale transaction thus, In a perpetual inventory system : each purchase and sale of inventory is recorded in the inventory account.
Suppose you buy 30 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 464.5, and you close out your position. Calculate your dollar profit on this investment
Full question attached
Answer and Explanation:
If you buy 30 of the September corn futures contract at the closing price of 472.00(refer to the chart in picture attached)
Your total buying value = 30×472.250=14167.5
Since one month from now the corn futures contract is 464.5
Total value of your corn futures now= 30×464.5= 13935
Profit/loss=13935-14167.5= -232.5
Therefore you make a loss of $232.5
Tisdale Incorporated reports the following amount in its December 31, 2021, income statement. Sales revenue $ 250,000 Income tax expense $ 20,000 Non-operating revenue 100,000 Cost of goods sold 180,000 Selling expenses 50,000 Administrative expenses 30,000 General expenses 40,000 Required: 1. Prepare a multiple-step income statement
Answer and Explanation:
The preparation of the multiple step income statement is presented below
Sales revenue $250,000
Less: cost of goods sold -$180,000
Gross profit $70,000
Less
Selling expenses 50,000
Administrative expenses 30,000
General expenses 40,000
Total operating expenses -$120,000
Non operating revenue $100,000
Income before income taxes $50,000
Less: income tax expense -$20,000
Net income $30,000
FAB Corporation will need 200,000 Canadian dollars (C$) in 90 days to cover a payable position. Currently, a 90-day call option with an exercise price of $.75 and a premium of $.01 is available. Also, a 90-day put option with an exercise price of $.73 and a premium of $.01 is available. FAB plans to purchase options to hedge its payable position. Assuming that the spot rate in 90 days is $.71, what is the net amount paid, assuming FAB wishes to minimize its cost
Answer:
$144,000
Explanation:
Calculation to determine net amount paid, assuming FAB wishes to minimize its cost
Net amount: ($.71 + $.01) x 200,000
Net amount = $144,000.
Therefore net amount paid, assuming FAB wishes to minimize its cost is $144000
One of the reasons for recognizing revenue at the time of sale is that the risk of loss due to price decline or destruction of the goods is passed to the buyer.A. True B. False
Answer: True
Explanation:
Sales refer to transactions which involves the provision of goods and services to the consumer.
Revenue is recognized at the time of sale so the risk of loss due to price decline or destruction of the goods is passed to the buyer.
Therefore, the correct option is true.
Suppose that a firm currently produces 100 units using 10 units of K and 14 units of labor per day. The wage rate is $100 and the rental rate is $150 per day. The cost to produce this output is
Answer: $2,900
Explanation:
The cost of this amount of output is:
= (Amount of K used * Rental rate of capital) + (Amount of labor used * wage rate)
= (10 * 150) + (14 * 100)
= 1,500 + 1,400
= $2,900
If IBM has a beta of 1.2 when the risk-free rate is 6% and the expected return on the market portfolio is 18%, the expected return on IBM is:
Answer:
20.4%
Explanation:
Calculation to determine what the expected return on IBM is:
Using this formula
E(Ribm)=Risk-free rate+(Market portfolio -Risk-free rate) Beta
Let plug in the formula
E(Ribm) = 6% +(18%-6%)1.2
E(Ribm)=6%+12%(1.2)
E(Ribm)=6%+14.4%
E(Ribm)=20.4%
Therefore the expected return on IBM is:20.4%
Joshua has been working as a project manager in an information technology company for three years. Martha is a delivery team lead in the same company. When the company receives a project that has to be completed in a short span of time, Joshua decides to increase the daily work hours of the delivery team to accommodate the project. Martha, however, insists that Joshua request the client for a time extension. Not willing to reach an agreement, Joshua and Martha ignore each other's opinions and begin working on the project individually. Which of the following conflict-handling intentions does this scenario portray? Collaborating Accommodating Avoiding Compromising
The conflict-handling deals with collaborating
Suppose a country has government expenditures of $3,500, taxes of $2,200, consumption of $9,000, exports of $2,500, imports of $2,700, transfer payments of $750, capital depreciation of $800 and investment of $3,000. GDP equals:_______.A. $24,450B. $11,550C. $15,300D. $20,700
Answer:
C. $15,300
Explanation:
Calculation to determine what GDP equals:
Using this formula
GDP = Consumption + Investment spending + Government Spending + Net Export
Where,
Net Export = Export - Import
Let plug in the formula
GDP=$9,000 + $3,000 + $3,500 + ($2500 - $2700)
GDP= $15,300
Therefore GDP equals:$15,300
The responsibility report for a revenue center would compare:___.
A. actual revenues to budgeted revenues.
B. actual revenues and costs to budgeted revenues and costs.
C. actual profits to budgeted profits.
D. actual costs to budgeted costs.
Answer:
A. actual revenues to budgeted revenues.
Explanation:
Revenue center deals with quantity sold and sales prices. Therefore it keeps track of differences between Actual (Quantity x Price) and Budgeted (Quantity x Price).Thus, The responsibility report for a revenue center would compare: A. actual revenues to budgeted revenues.
Find the next year's net income for XYZ Inc. Next year, the sales grow by 25%. The current sales $300 million, and the current profit margin is 10% and you expect it to remain constant.
Answer: $37.5 million
Explanation:
The next year's net income for XYZ will be calculated as follows:
Current sales = $300 million
Current Profit margin = 10%
Sales Growth rate = 25%
The next year's sales will be:
= Current Year's Sales × (1 + Sales Growth rate)
= $300 million × (1 + 0.25)
= $300 million × 1.25
= $375 million
Next Year's Net Income will then be:
= $375 million × 10%
= $37.5 million
If average household income increases by 20%, from $50,000 to $60,000 per year, the quantity of rooms demanded at the Triple Sevens from rooms per night to rooms per night. Therefore, the income elasticity of demand is , meaning that hotel rooms at the Triple Sevens are
Answer:
Therefore, the income elasticity of demand is 0.83, meaning that hotel rooms at the Triple Sevens are normal goods and necessities.
Explanation:
Note: This question is not complete as some data in it are missing. The complete question is therefore provided before answering the question as follows:
If average household income increases by 20%, from $50,000 to $60,000 per year, the quantity of rooms demanded at the Triple Sevens rises from 300 rooms per night to 350 rooms per night. Therefore, the income elasticity of demand is __________, meaning that hotel rooms at the Triple Sevens are__________.
The explanation of the answer is now provided as follows:
Percentage change in income = 20%
Percentage change in quantity of rooms demanded = ((350 - 300) / 300) * 100 = 16.67%
Income elasticity of demand = Percentage change in quantity of rooms demanded / Percentage change in income = 16.67% / 20% = 0.83
Since the income elasticity of demand is positive but less than one, this implies that hotel rooms at the Triple Sevens are normal goods and necessities.
Therefore, the income elasticity of demand is 0.83, meaning that hotel rooms at the Triple Sevens are normal goods and necessities.
what is the primary benefit people receive in exchange for paying premiums to an insurance company
Answer:
The insurance company will pay for covered expenses
With premium rates from insurance companies, the overall protection is much more guaranteed than a regular, and perhaps the insurance will cover more than regular insurance.
A benefit that people receive in exchange for paying premiums is that insurance company B.will pay for covered expenses.
What is insurance?The insurance can be regarded as a process of insuring one's property or life in case of danger or any future problems.
The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.
Therefore, option B is correct because, when people pay their premiums, the company will be available to covered expenses.
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Richards Corporation uses the FIFO method of process costing. The following information is available for October in it's fabricating department: Units: Beginning inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion. Units started and completed: 250,000 Units completed and transferred out: 330,000 Ending inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion Costs: Costs in beginning Work in Process - direct materials: $37,200 Costs in beginning Work in process - conversion: $79,700 Costs incurred in October - Direct materials: $646,800 Costs incurred in October: Conversion: $919,300 Calculate the equivalent units of conversion. A. 250,000 B. 317,000 C. 294,000 D. 333,000 E. 342,000
Answer:
B. 317,000
Explanation:
Statement of Equivalent production
Particulars Conversion % Completion Equivalent Conversion
Opening WIP 80,000 80% 64,000
Units started & 250,000 100% 250,000
completed
Ending WIP 30,000 10% 3,000
Equivalent Units 317,000
Wahlberg Company Income Statement For the Years Ended December 31
2020 2019
Net sales $1,813,600 $1,746,200 Cost of goods sold 1,013,400 990,000 Gross profit 800,200 756,200 Selling and administrative expenses 514,800 474,000 Income from operations 285,400 282,200 Other expenses and losses Interest expense 17,400 14,400 Income before income taxes 268,000 267,800 Income tax expense 78,019 77,600 Net income $ 189,981 $ 190,200
Wahlberg Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash $60,000 $64,700 Debt investments (short-term) 70,200 49,600 Accounts receivable 117,400 101,100 123,700 Inventory 115,500 Total current assets 371,300 330,900 Plant assets (net) 598,900 523,900 $970,200 $854,800 Total assets Liabilities and Stockholders' Equity Plant assets (net) 598,900 523,900 $970,200 Total assets $854,800 Liabilities and Stockholders' Equity Current liabilities Accounts payable $160,800 $144,700 Income taxes payable 43,500 41,800 Total current liabilities 204,300 186,500 Bonds payable 220,000 200,000 424,300 Total liabilities 386,500 Stockholders' equity Common stock ($5 par) 275,600 300,100 Retained earnings 270,300 168,200 Total stockholders' equity 545,900 468,300 Total liabilities and stockholders' equity $970,200 $854,800 All sales were on account. Net cash provided by operating activities for 2020 was $230,000. Capital expenditures were $136,000, and cash dividends were $87,881. nings per share, 6.8 or 6.8%. Use 365 days for calculation.) 3.38 (a) Earnings per share (b) Return on common stockholders' equity 33.31 % (c) Return on assets 20.53 % (d) 1.82 :1 Current ratio 1.21 times (e) Accounts receivable turnover (f) 16.6 days Average collection period (g) Inventory turnover 15.16 times (h) 16.4 days Days in inventory 1.87 times (i) Times interest earned times (j) Asset turnover (k) Debt to assets ratio 22.32 % (l) Free cash flow
Answer:
Answer:
Wahlberg Company
(a) Earnings per share = $3.45 ($189,981/55,120) $3.17 ($190,200/60,020)
(b) Return on common stockholders' equity = 34.80% 40.61%
($189,981/$545,900) ($190,200/$468,300)
(c) Return on assets = 19.58% 22.25%
($189,951/$970,200) ($190,200/$854,800)
(d) Current ratio = 1.82 times 1.77 times
= Total current assets 371,300/ 330,900/
/Total current liabilities 204,300 186,500
(e) Accounts receivable turnover = 16.60 times
(f) Average collection period = 22 days
(g) Inventory turnover = 8.47 times
(h) Days in inventory = 43.1 days
(i) Times interest earned times = 16.4 times 19.6 times
(j) Asset turnover = 1.99x
(k) Debt to assets ratio = 43.37% 45.22%
(l) Free cash flow
= $94,000
Explanation:
a) Data and Calculations:
Wahlberg Company
Income Statement
For the Years Ended December 31
2020 2019
Net sales $1,813,600 $1,746,200
Cost of goods sold 1,013,400 990,000
Gross profit 800,200 756,200
Selling and administrative expenses 514,800 474,000
Income from operations 285,400 282,200
Other expenses and losses
Interest expense 17,400 14,400
Income before income taxes 268,000 267,800
Income tax expense 78,019 77,600
Net income $ 189,981 $ 190,200
Wahlberg Company
Balance Sheets December 31
Assets 2020 2019
Current assets
Cash $60,000 $64,700
Debt investments (short-term) 70,200 49,600
Accounts receivable 117,400 101,100
Inventory 123,700 115,500
Total current assets 371,300 330,900
Plant assets (net) 598,900 523,900
Total assets $970,200 $854,800
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable $160,800 $144,700
Income taxes payable 43,500 41,800
Total current liabilities 204,300 186,500
Bonds payable 220,000 200,000
Total liabilities 424,300 386,500
Stockholders' equity
Common stock ($5 par) 275,600 300,100
Retained earnings 270,300 168,200
Total stockholders' equity 545,900 468,300
Total liabilities and
stockholders' equity $970,200 $854,800
Net cash provided by operating activities for 2020 was $230,000.
Capital expenditures were $136,000
Cash dividends were $87,881.
Earnings per share, 6.8 or 6.8%
Outstanding shares =55,120 ($275,600/$5) 60,020 ($300,100 /$5)
Average Receivable = $109,250 ($117,400 + $101,100)/2
Average inventory = $119,600 ($123,700 + $115,500)/2
Average assets = $912,500 ($970,200 + $854,800)/2
(a) Earnings per share = $3.45 ($189,981/55,120) $3.17 ($190,200/60,020)
(b) Return on common stockholders' equity = 34.80% 40.61%
($189,981/$545,900) ($190,200/$468,300)
(c) Return on assets = 19.58% 22.25%
($189,951/$970,200) ($190,200/$854,800)
(d) Current ratio = 1.82 times 1.77 times
= Total current assets 371,300/ 330,900/
/Total current liabilities 204,300 186,500
(e) Accounts receivable turnover = $1,813,600/$109,250 = 16.60 times
= Net Sales/Average Receivable
(f) Average collection period = $109,250/$1,813,600 * 365 = 22 days
(g) Inventory turnover = $1,013,400/$119,600 = 8.47 times
(h) Days in inventory = $119,600/$1,013,400 * 365 = 43.1 days
(i) Times interest earned times = EBIT/Interest Expense
= 16.4 times ($285,400/$17,400) 19.6 times ($282,200/$14,400)
(j) Asset turnover = Sales/Average Assets = $1,813,600/$912,500 = 1.99x
(k) Debt to assets ratio = 43.37% 45.22%
($424,300/$970,200) ($386,500/$854,800)
(l) Free cash flow = Net cash provided by operating activities - Capital expenditures
= $230,000 - $136,000
= $94,000
Oliver's long-term care policy covers only services in a nursing facility and pays nothing for services provided at home or in the community. What kind of LTC policy does Oliver own?
Question options:
a. facility-challenged
b. substandard
c. tier 1
d. noncomprehensive
Answer:
d. noncomprehensive
Explanation:
Oliver has a noncomprehensive long term care(LTC). A non comprehensive long term care is policy that restricts services to the ones provided at a nursing facility, and so Oliver pays for the benefits of only the services of a nursing facility . It is different from a comprehensive long term care where services cover and can be provided at an adult day care, home, assisted living facilities, or at nursing facilities.
Oliver's policy which does not cover nursing facilities provided at home or in the community is known as a Non-comprehensive health insurance policy. So, the correct option is D.
A non-comprehensive policy is a type of policy that covers only expenses related to the health of the customer that are provided in the hospital in-house premises only.
It is to be noted that there are no nursing facility expenses reimbursed or paid to the policy holder in case of health issues faced, if any. There are several other types of policies which reimburse such expenses.In a non-comprehensive policy, the policy holder is entitled to receive health benefits of only core hospitalization and any other expenses like bedding, medications, out-house nursing facilities, etc.The premium to be paid on the non-comprehensive policy is less compared to a comprehensive policy as the benefits to be availed are also less and so the drill.Hence, the correct option is D that the non-comprehensive policy does not cover nursing facilities taken in-house or at the community.
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