B.Insurance plans with different premiums and deductibles let you decide how much financial loss you are willing to risk
C.Paying for health insurance is always cheaper than paying for your own medical expenses
D.None of the above
Answer:
Option C
Explanation:
The reason is that the health insurance plan helps the insurer to limit the risk of paying one off payment to contribute for his or her health so it can help to shift this risk to another party (Health Insurance Company) by contributing a small amount of money.
Furthermore, the insurance planning also helps in accepting the level of risk to shift to the insurance company and retain the risk share to itself because the person might think he will not face such risks in future.
The paying for health insurance might be more expensive than the original expense because their are chances that the person doesn't gets ill because he follows proper diet plans, is health conscious and take exercise daily. So paying for health insurance becomes a burden. So the option C is incorrect.
Answer:
The answer is C) Paying for health insurance is always cheaper than paying for your own medical expenses.
Explanation:
I took the quiz.
Explanation:
The journal entries are shown below:
a. Depreciation expense A/c Dr $4,070
To Accumulated Depreciation - Equipment A/c $4,070
(Being depreciation expense is recorded)
b. Cash A/c Dr $21,900
Accumulated Depreciation - Equipment A/c $40,340
Loss on sale of an equipment $14,540
To Equipment $76,780
(Being sale of equipment is recorded and the remaining balance is debited to the loss on sale of an equipment)
The accumulated depreciation is computed below:
= $36,270 + $4,070
= $40,340
Life insurance is a product offered by insurance companies which provides for a tax-free benefit at the death of the policy insured. It is often used to provide a lump some of money to cover basic living expenses for a family.