Transaction: Record the issuance of preferred stock for Galaxy Tennis Corporation General Journal:
Debit: Cash $18,000
Credit: Preferred Stock $10,000
Credit: Paid-in Capital in Excess of Par Value, Preferred Stock $8,000
The company issued 1,000 shares of its $0.01 par value preferred stock at a price of $18 per share. The total amount received from the sale of preferred stock is $18,000 (1,000 shares x $18 per share). The par value of preferred stock is $0.01 per share, so the total par value of 1,000 shares is $10 (1,000 shares x $0.01 per share). The excess of the issue price over the par value is called "Paid-in Capital in Excess of Par Value, Preferred Stock," which in this case is $8 per share ($18 issue price - $0.01 par value). Therefore, we credit $10,000 to the Preferred Stock account and $8,000 to the Paid-in Capital in Excess of Par Value, Preferred Stock account, and debit $18,000 to the Cash account.
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High school dropouts statistically earn the same as high school graduates.
True
False
Answer is false, got 100% in edge
Answer:
False.
Explanation:
High school graduates have a better selection of high-paying jobs while people who do not graduate high school have a much lower list of job options with much lower pay.
7-M Mastery Problem: Preparing financial statements with a net loss 1, 2, 3 Forms are given in the Working Papers. The following information is obtained from the work sheet of Eiler Copy Service for the month ended September 30 of the current year. 5 7 INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT 3 48000 75 00 98.00 3 90 00 40 000 3 0600 4.668.00 7 Cash 2 Petty Cash Accounts Receivable-S. Romano Supplies Prepaid Insurance Accounts Payable-Supplies Plus Cheryl Eiler, Capital Cheryl Eiler, Drawing Income Summary 10 Sales Advertising Expense 12 Cash Short and Over Insurance Expense Miscellaneous Expense Supplies Expense Utilities Expense 30 000 16 3 500 10 2 2 5 00 1 00 78 00 4 200 70 000 8/2000 1866.00 (23 100 16 35 00 - - - 12 1 6 3 500 4 7 4 3 00 is Net Loss 4.97 4.00 (23 100 10 4.7.4 3 001 1 16 35 00 47 43 00 20 Il li Instructions: 1. Prepare an income statement for the month ended September 30 of the current year. 2. Calculate and record the ratios for total expenses and net loss. Place the percentage for net loss in parentheses to show that it is for a net loss, Round percentage calculations to the nearest 0.1%. 3. Prepare a balance sheet for September 30 of the current year. 7-M Mastery Problem: Preparing financial statements with a net loss 1, 2, 3 Forms are given in the Working Papers. The following information is obtained from the work sheet of Eiler Copy Service for the month ended September 30 of the current year. 3 7 INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT 1 348000 75.00 9 8 00 2 3 4 3 910 00 40.000 30 600 4 6 6 8 00 7 3 0000 Cash: 2 Petty Cash Accounts Receivable-S. Romano Supplies • Prepaid Insurance Accounts Payable Supplies Plus Cheryl Eiler, Capital Cheryl Eiler, Drawing Income Summary 10 Sales Advertising Expense 12 Cash Short and Over Insurance Expense Miscellaneous Expense Supplies Expense Utilities Expense 9 1635 00 TO 12 2 25.00 100 7800 4 2.00 70 000 8 2 000 1 866 00 (23 100) 16 35 00 16 1 635 00 47 43 00 Net Loss 4 9 7 4 0017 (23 100) 10 4 7 4 3 00 10 1635 00 47 43 00 20 20 Instructions: 1. Prepare an income statement for the month ended September 30 of the current year. 2. Calculate and record the ratios for total expenses and net loss. Place the percentage for net loss in parentheses to show that it is for a net loss. Round percentage calculations to the nearest 0.1%. 3. Prepare a balance sheet for September 30 of the current year.
A financial statement is a document that lists a company's financial activity, a person's financial actions, or the financial condition of any other entity. It contains the income statement, balance sheet, and cash flow statement, which are the three fundamental financial statements.
Describe the income statement.An income statement, also known as a profit and loss statement, is a financial document that lists a company's sales, costs, and profits and losses for a specific time period. It summarizes a company's financial performance, including its revenue, costs, profits, and losses as well as its net income and earnings per share. One of the most important financial statements that investors and analysts use to evaluate a company's performance is one that determines a company's profitability.
Create an income statement for the current year's month that ended on September 30.
FOR THE MONTH ENDED SEPTEMBER 30, 2020, INCOME STATEMENT Sales Advertisement Cost Lack of funds and excessive insurance costs Supplies Expense Miscellaneous Expense utilities cost Total Costs Gross Loss $30,000 16 3,500 10 2 2 5.00 1.00 78.00 4,200 $23,100 $ – (23,100) (23,100)
Determine and note the ratios for overall costs and net loss. Round percentage calculations to the closest 0.1% and put the percentage for net loss in parenthesis to indicate that it is for a net loss.
Total Expenses to Net Loss Ratio: 100% (Net Loss)
Create a balance sheet for the year's September 30.
AS OF SEPTEMBER 30, 2020, BALANCE SHEET RESOURCES Cash Petty Cash Supplies Receivable - S. Romano Paid-Up Insurance $7,000 75.00 98.00 3,900 40,000 assets totaling $51,073 Liabilities and Equity Supplies and Accounts Payable Plus Capital Cheryl Eiler Summary of Cheryl Eiler's Income Liabilities and equity combined $4,668 $20,000 47,405 $51,073
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All of the following are true regarding rebates except..
A) Rebates are only allowed if it specifically stated in the policy.
B) Rebating can be anything of economic value, given as an inducement to buy.
C) Dividends are not considered to be rebates
D) Rebates are allowed if it is in the best interest of the client.
All of the following are true regarding rebates except D) Rebates are allowed if it is in the best interest of the client.
Rebates are an increasingly popular way to get money back from purchases, but there are some things to keep in mind when considering them. Firstly, it’s important to ensure that the rebate is legitimate and from a reputable source.
Additionally, although rebates are often used to entice customers to purchase a product, they should not be relied upon to make a purchase decision.
Finally, it’s important to remember that rebates are not always allowed if it is in the best interest of the client. Therefore, it’s important to do your research and make sure that a rebate is the right way to go before making a purchase.
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How does globalization affect trade among countries?
Globalization has had a major impact on the trade between countries. It has allowed countries to lower the trade barriers such as tariffs and quotas and allow them access to more markets.
In addition to it, globalization has enabled increased investment flows between countries, giving countries access to capital for development and growth. Finally, better technology and communication have allowed for increased cooperation between countries, allowing for better trade agreements and the free flow of goods and services. All of these factors allowed countries to increase trade with other countries and were a major factor in the growth of world trade.
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how long does a hard inquiry stay on your credit report
A hard inquiry stays on our credit report for two years but its impact to our credit score will diminish over time.
After the first six months, a hard inquiry will only affect your credit score for up to one year. After a year, it will no longer be factored into our credit score. This is because lenders are typically more interested in our recent credit activity than events from the distant past.
It is important to remember that a single hard inquiry is not likely to have a major impact on our credit score. However, many hard inquiries in a short period of time may signal to lenders that you are desperate for credit and could cause our score to drop.
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How can we reduce the wealth gap between rich and poor essay?
The wealth gap refers to the discrepancy in total assets between races and ethnicities, as opposed to the wage gap, which refers to the difference in earnings from labor among different races and ethnicities.
Describe wealth gap and method to reduce it?The term "income gap" refers to the difference in earnings between two groups, such as the 1 percent and the 99 percent, white and black Americans, or, more generally, the haves and the have-nots.
While the income gap only considers income, the wealth gap also considers assets and net worth (assets minus debts).
Some step to reduce the wealth gap are-
Despite the existence of fair housing laws, discriminatory lending practices still have an impact. People of color, for instance, continue to experience higher interest rates, lower loan approval rates, lower homeownership rates, and lower levels of personal wealth.Historical discrimination in the U. S. Racial injustices still exist today in large part due to housing policy, including the once-legal practice of redlining.Nevertheless, the effectiveness of the 24th Amendment and civil rights-era legislation depended on enforcement, which has been patchy over the past 50 years, and continues to do so.Although there are strict laws in place, there is still inequality because of societal and cultural attitudes and practices.
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Why does unemployment increase when the economy is bad?
The unemployed workers and their families spend lower, which weakens demand performing in poor economy.
While economists and scholars argue that a certain degree of natural severance can not be excluded, extreme severance imposes significant costs on the person, community, and country. Underemployment may be extensively dangerous to society's economy as well. Severance numbers include those who work in low- paid or low- skill occupations that don't give enough full- time hours to qualify for benefits or to earn a inhabitable pay envelope.. The profitable counter accusations may extend beyond reduced consumption. In a difficulty, numerous people may turn to their withdrawal savings, and depleting these finances has long- term consequences.
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Parallel processing is one advantage of ___
a. virtual reality
b.edge computing
c. grid computing
d. nanotechnology
Virtual reality has the benefit of parallel processing.
How does virtual reality work? What is it?A computer-generated environment with objects and situations that seem genuine is called virtual reality (VR), and it gives the user the impression that they are completely surrounded by the environment. Through the use of a Virtual Reality helmet or headset, this environment is experienced.
What is virtual reality, and how does it work?A simulated environment that can be viewed in 360 degrees is created using computer technology, sometimes known as virtual reality, or VR. VR provides an immersive experience by immersing the user into the virtual environment, in contrast to traditional interfaces.
What three sorts of virtual reality are there?Virtual reality simulations fall into three main categories: non-immersive, semi-immersive, and fully-immersive.
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Which of the following is an example of a scarce factor of production?A. MoneyB. FoodC. FlourD. AirplanesE. Established knowledge
(a) the following is an example of a scarce factor of production.Land is the scarce factor of production.
Aircraft are capital goods used to produce transportation services therefore,they are a factor of production. Planes are also in short supply. Money is the scarce production factor. Scarce factors of production refer to the resources needed for production, but they exist in limited quantity. You're probably used to thinking that natural resources like titanium, oil, coal,gold,and diamonds are scarce.Resource scarcity refers to the situation where resources are limited in quantity and have alternative uses in the production of various commodities.Assistance and training that makes the experience of the Secretariat and member countries available to countries undertaking economic reforms.
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What is the legal curfew for a 17 year old in California?
Answer:
Some California cities do. These curfews are usually 10 p.m. during the weekdays and 12 a.m. on the weekends. Certain circumstances will allow a minor to remain out after hours. These exceptions include religious, political or educational activities, work or emergencies, or activities with or for a legal guardian.
What was yesterdays Price? Whats todays Price?
Find 5 stocks that you are interested in investing in. Give the company Name, Ticker Symbol, Share price today and What the Company does?
Pls do it pls I need it really needed it for today pls answer it
Answer:
The price is higher then it was yesterday
Explanation:
What causes a negative profit?
When your manufacturing expenses exceed your entire revenue for a certain time period, you have a negative profit margin.
This indicates that your business model is not sustainable because you are losing money rather than making it. Many businesses experience negative profit margins as a result of unforeseen costs or outside influences. Negative profit margins require you to find other ways to cover your expenses, such as approaching new investors or getting loans.
Negative earnings might result from a drop in sales while keeping costs the same. The amount of money you make from sales is your revenue. Your revenue may decrease if your sales over a given time period are lower than they have been in the past.
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The Shannon Community Kitchen provides hot meals to homeless and low-income individuals and families; it is the organization’s only program. It is the policy of the community kitchen to use temporarily restricted resources for which the purpose has been met before unrestricted resources. The Kitchen had the following revenue and expense transactions during the 2017 fiscal year.
1. Unrestricted cash donations of $25,000 were received. A local philanthropist also contributed $3,000, which was to be used for the purchase of Thanksgiving dinner foodstuffs.
2. A local grocery store provided fresh produce with a fair value of $100. The produce was immediately used.
3. Volunteers from the local university contributed 100 hours to preparation and serving of meals. The estimated fair value of their labor was $750.
4. The Kitchen received a $5,000 federal grant for the purchase of institutional kitchen appliances.
5. At Thanksgiving time, the Kitchen spent $4,100 on foodstuffs for preparation of the Thanksgiving dinner.
Required Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Date Accounts and Descriptions Debit Credit
1 Cash 28,000
Contributions - Unrestricted 25,000
Contributions - Temporarily Restricted 3,000
(Received unrestricted contribution and service contribution)
2 Program Expenses 100
Contributions - Unrestricted 100
(Record program expenses)
3 No transaction recorded -- no skill required
4 Cash 5,000
Contributions - Temporarily Restricted 5,000
(Record Fed grant for supplies)
5 Program Expenses 4,100
Cash 4,100
(Record program expenses)
Net Assets released - purpose fulfilled for temporary restricted contribution 3,000
Net Assets released - purpose fulfilled for restricted contribution 3,000
(To record net assets temporarily restricted to unrestricted)
Which assets do you mean?An asset is a resource having economic worth that a person, organization, or nation owns or manages with the hope that it may someday be useful. A company's balance sheet lists its assets. They are divided into current, fixed, financial, and intangible categories.
What are your three best qualities?Your time, mind, and network are your three greatest assets. Protecting your time, expanding your knowledge, and fostering your network should be your daily goals. Top sales performers are aware of what this means and don't let themselves be tempted to waste time on pursuits that don't result in sales.
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What is the main idea behind the study of economics?
Economics is the study of failure and its counteraccusations for the use of coffers, product of goods and services, growth of product and weal over time, and a great variety of other complex issues of vital concern to society.
At the most introductory position, economics attempts to explain how and why we make the purchasing choices we do. Four crucial profitable generalities — failure, force and demand, costs and benefits, and impulses — can help explain numerous opinions that humans make.
The study of economics helps people understand the world around them. It enables people to understand people, businesses, requests and governments, and thus more respond to the pitfalls and openings that crop when effects change.
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was developed in an effort to provide the policyowner with the best of both worlds (term and permanent coverage). An adjustable life policy can assume the form of either term insurance or permanent insurance. The insured typically determines how much coverage is needed and the affordable amount of premium.
True or False
Adjustable lifestyles insurance is a time period and complete life hybrid insurance sketch that permits policyholders the alternative to alter policy features.
What Is Adjustable Life Insurance?Adjustable lifestyles insurance is a hybrid of time period lifestyles and total lifestyles insurance plan that allows policyholders the choice to regulate policy features, along with the period of protection, face amount, premiums, and size of the top class payment period.
Adjustable existence insurance is a structure of permanent existence insurance. Unlike a time period policy, adjustable lifestyles insurance remains in effect for the rest of your life, as long as premiums are paid. However, policyholders are normally in a position to modify their top class payments, cash cost quantity and even their dying benefit.
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https://brainly.com/question/1373572#SPJ4A type of insurer that is owned by its policyowners is called
A type of insurer that is owned by its policyowners is called. A mutual insurer is owned via its policyowners.
A lifestyles insurance plan organisation has transferred some of its risk to every other insurer. The insurer assuming the hazard is called the. reinsurer.
What kind of insurer is owned by means of policyowners and will pay dividends yearly to policyowners?Since a mutual insurance plan employer is owned through its Whole Life insurance policyholders, it is prevalent for these mutual insurers to pay dividends yearly lower back to its Whole Life policyowners.
Reinsurance is additionally recognised as insurance plan for insurers or stop-loss insurance. Reinsurance is the practice whereby insurers transfer parts of their risk portfolios to other events with the aid of some shape of settlement to minimize the likelihood of paying a massive obligation resulting from an insurance plan claim.
what A type of insurer that is owned by its policyowners is called?
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https://brainly.com/question/28910224#SPJ4What are the top 5 commodities?
cattle/calves, corn, soybeans, dairy products/milk, broilers, hogs, miscellaneous crops, wheat, chicken eggs, and hay:
Explanation:
All drivers are required to have the following ??
O A valid Florida commercial drivers license
O an annual vision
O an annual physical
O a certificate
All applicants must possess an Operator's License, meet the eyesight criteria, and pass the knowledge and skills exams before being granted a Commercial Driver License.
Who in Florida requires a business driver's license?Any driver hauling a tractor-trailer with a declared load of 26,001 lbs or more must have a Commercial Driving License in Florida. The various licensing classes for commercial drivers are listed below.
What location is the Florida driver manual located?You can still download the Florida Driver Manual even though it is no longer accessible at your neighborhood DMV. A synopsis of the key sections is provided below. Anyone operating a motorized vehicle on public roads and highways in Florida must possess a current Florida driver's license.
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How much money did Germany have to pay in reparations after ww1?
Germany had to pay an amount of 6.6 billion pounds for the reparations after world war 1 for the Allied parties according to article 231 of Treaty of Versailles.
Germany was reprimanded for the loss and damages created by world war I, which greatly affected Britain and France. For which the Treaty of Versailles in 1922 not only charged Germany with the war and its repercussions but also mandated a financial reimbursement for the whole war of about 132 billion gold marks which was US$33 billion and 6.6 billion pounds in the UK. Germany also had to pay additionally to its Allies for the machinery and manufacturing which resulted in US$23 billion. Whereas reparations to the Soviet Union were halted in 1953.
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What are the different types of budgeting?
The different types of budgeting are as follows:. Zero-based budgeting, Incremental budgeting and Activity-based budgeting.
1. Zero-based budgeting: This type of budgeting requires all expenses to be justified for each period. For each expense, a manager must provide a reason why it should exist. The goal of zero-based budgeting is to ensure that every dollar spent is optimized to its fullest potential.
2. Incremental budgeting: Incremental budgeting builds upon an existing budget, making changes based on what was previously spent. This approach typically takes into account inflation and cost increases when setting a new budget.
3. Activity-based budgeting: This method looks at the activities and processes used to generate services and products, and determines how much money should be.
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Why does the usage of natural resources increase as the human population increases?
More resources, such as freshwater, land, clothing, etc., are used by more people. When there are more people, there is a greater need for food to feed everyone on the earth.
What are natural resources?Natural resources are those that are derived from nature and used largely unaltered.
This encompasses the origins of desirable traits like those used for business and industry, aesthetic appeal, scientific curiosity, and cultural significance.
On Earth, it consists of the sun, the atmosphere, the water, the land, all the minerals, all the plants, and all the animals.
More people use more resources like freshwater, land, clothing, etc.
More food is required to feed the planet's population when there are more people (more fishing, more farming, more deforestation to make room for agriculture and raising livestock, and so forth).
Therefore, more resources, such as freshwater, land, clothing, etc., are used by more people. When there are more people, there is a greater need for food to feed everyone on the earth.
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___is a special journal used to record only cash payment transactions
A unique journal called the cash payments journal is used to track solely cash payment transactions.
What particular journal is used to track cash sales?A cash receipts journal (CRJ) keeps track of all transactions involving payments made in cash.
What is written in the journal for cash payments?Transactions that are paid in cash are recorded in a cash payments log. Paying a commission or creditor, paying interest, or withdrawing cash are all examples of cash payments. Cash payments are noted in the cash payments log if they are ever made.
In which journal is a single transaction recorded?A special journal is one that solely records a specific type of transaction. Cost of goods refers to the price a company pays for the products it buys to sell. The sum that is added to the cost of goods to determine the selling price is known as markup.
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Determine the simple interest on an account paying 6.5% annually interest of an investment of $5,250. a. $341.25 b. $345.02 c. $343.08 d. $347.96
Given, the principal amount is 5250$, and the rate of interest is 6.5% annually. And since no time period is mentioned, the default time period would be 1 year.
The formula for Simple Interest:
Simple Interest (S.I) = (Principal amount X Time Period X Rate of Interest) / 100
Now substitute the corresponding values in the formula,
[tex]S.I = \frac{5250 * 1 * 6.5}{100}[/tex] = 341.25$
Therefore, the simple interest is 341.25$.
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Does contractionary fiscal policy increase aggregate demand?
Contractionary fiscal policy shifts the aggregate demand to the left .
Contractionary fiscal policy refers to actions taken by the government to decrease aggregate demand in the economy. This typically includes measures such as increasing taxes, decreasing government spending, or both. Therefore, contractionary fiscal policy does not increase aggregate demand.
Contractionary fiscal policy is used to decrease inflationary pressures by reducing aggregate demand. This can be done by decreasing government spending, which reduces the amount of money in circulation, or by increasing taxes, which reduces the disposable income of individuals and firms.
It's worth mentioning that contractionary fiscal policy can also affect aggregate supply by decreasing the incentive for firms to produce and hire workers, which in turn can decrease real GDP and increase unemployment in the short run. The long-term effects on aggregate demand can also depend on how contractionary fiscal policy is implemented and how the economy reacts to it.
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Based on the figure, which of the following would cause the short-run aggregate supply curve to shift from SRAS1 to SRAS2
A higher level of productivity causes the SRAS curve to move to the right because businesses can produce more output at all price points.
Which of the following would result in a rightward shift in the aggregate supply curve over the short term? A higher level of productivity causes the SRAS curve to move to the right because businesses can produce more output at all price points.The real GDP is reduced to Y2 and the price level is increased to P2, resulting in a recessionary gap of YP Y2, when aggregate supply declines from SRAS1 to SRAS2.The short-run aggregate supply curve shifts back to SRAS1 in the long run when prices and nominal wages decline, and real GDP reaches its potential.The curve shifts to the left when energy costs rise, resulting in higher production costs and a consequent reduction in short-run aggregate supply.To learn more about supply curve refer
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Stock x has a 9.5expected return, a beta coefficient of 0.8, and a 35% standard deviation of expected returns Stock Y has a 13.0% expected retum, a beta coucent of 1.3, and a 20.0% standard deviation. The risk-free rate is 8%, and the market risk premium in 5% 1. Calculate each stock's coefficient of variation, Round your answers to two decimal places. Do not round intermediate calculations CV-
The coefficient of variation for Stock X is 368.42% and for Stock Y is 153.85%.
To calculate the coefficient of variation (CV) for each stock, we need to divide the standard deviation of expected returns by the expected return and multiply by 100 to get the percentage.
For Stock X:
CV = (35% / 9.5%) * 100 = 368.42%
For Stock Y:
CV = (20% / 13%) * 100 = 153.85%
So, the coefficient of variation for Stock X is 368.42% and for Stock Y is 153.85%.
Please note that the Coefficient of Variation (CV) is used to compare the relative volatility of two stocks and it is calculated by dividing the standard deviation of the stock's return by its mean return. A low CV indicates that the stock's return is more predictable, while a high CV indicates more volatility.
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All of the following statements concerning Medicaid are correct EXCEPT
A. Individual states design and administer the Medicaid program under broad guidelines established by the federal government
B. Individuals claiming benefits must prove they do not have the ability or means to pay for their own medical care
C. Persons, at least 65 years of age, who are blind or disabled and financially unable to pay, may qualify for Medicaid Nursing Home Benefits
D. Medicaid is a state funded program that provides health care to persons over age 65, only.
The incorrect statement about Medicaid is (D) "only people over the age of 65 can get healthcare through Medicaid, a state-funded program."
What is Medicaid?Medicaid is a joint federal and state program that assists some persons with low income and resources in paying for medical expenses.
All state Medicaid programs must go by general guidelines established by the federal government, but each state manages its own program.
Medicare is a government health insurance program for persons who are 65 years of age or older, as well as some people under 65 who have specific disabilities or diseases.
Some persons with low incomes and resources can receive health coverage through Medicaid, a combined federal and state program.
Obamacare is a federal statute, but the phrase is also frequently used to describe private health insurance purchased on the individual market through the exchanges.
Medicaid is government-run health insurance that is offered to those with low incomes, and its expansion is a key component of Obamacare.
Therefore, the incorrect statement about Medicaid is (D) "only people over the age of 65 can get healthcare through Medicaid, a state-funded program."
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What are the 5 sources of water pollution?
Water pollution has a wide range of causes, but it may be divided into two main categories: direct sources and indirect sources of pollutants.
Direct sources include effluent discharges from industries, refineries, waste treatment facilities, and other facilities that release fluids of different quality into metropolitan water systems.
Pollutants that enter the drinking water supply via soils and groundwater systems and from the atmosphere through rainwater are examples of indirect sources. Human-made agricultural practices (fertilizers, insecticides, etc.) and illegally disposed industrial pollutants leave a deposit in soils and groundwater.
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Which type of loans are strongly recommended for first time buyers?
FHA loans are excellent for first-time homebuyers because, in addition to lower up-front loan costs and less stringent credit requirements, you can make a down payment as low as 3.5%.
What is a loan, simply put?Giving money to someone else in exchange for repayment of the principal plus interest is known as a loan. Before agreeing to issue a loan to a potential borrower, lenders will take into account their income, credit score, and debt load.
In finance, what is a loan?A loan is a financial product that enables a user to access a predetermined amount of money at the commencement of the transaction with the requirement that this amount, plus the negotiated interest, be returned within a given time frame. Regular payments are made to repay the loan.
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What are the 4 basic principles of finance?
The four principles of finance are income, savings, spending, and investing.
Income, savings, spending, and investment are the four guiding principles of finance. You can keep your funds in good shape by adhering to these fundamental rules of personal finance. These ideas frequently enable people to accumulate riches over time.
The other three financial tenets are founded on income. You can begin saving after you have a job. You get extra money to use in the future as a result of saving money. The more money you put aside today, the easier it will be to avoid monetary emergencies, pay for pricey expenditures, and pursue financial objectives.
Spending is a way to treat yourself after putting in a lot of effort at work. Spending encourages you to work harder to earn more money or to save more in case you run short.
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