Total of direct labor and factory overhead using work in progress is 1,38,000
Cost of goods manufactured 20300
Less beginning WIP (35200)
Less Direct material (55300)
Add ending WIP 25200
Total of direct labor and factory overhead 1,38,000
Note: We get cost of goods manufactured by adding beginning WIP ,direct labor, direct material and subtract ending WIP from it.
Work in progress- The terms "work in process," "work in progress," "goods in process," and "in-process inventory" all relate to the worth of a company's partially finished goods that are awaiting completion and potential sales. WIP is a vital input for computing inventory on a company's balance sheet and is utilized in supply chain management.
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On May 1, Carter, Inc. factored $800,000 of accounts receivable with Rapid Finance on a without recourse basis. Under the arrangement, Carter was to handle disputes concerning service, and Rapid Finance was to make the collections, handle the sales discounts, and absorb the credit losses. Rapid Finance assessed a finance charge of 6% of the total accounts receivable factored and retained an amount equal to 2% of the total receivables to cover sales discounts.Instructions(a) Prepare the journal entry required on Carter 's books on May 1.(b) Prepare the journal entry required on Rapid Finance’s books on May 1.(c) Assume Carter factors the $800,000 of accounts receivable with Rapid Finance on a with recourse basis instead. The recourse provision has a fair value of $14,000. Prepare the journal entry required on Carter’s books on May 1.
(a). Journal entry required on Carter 's books on May 1:
Accounts receivable = $800,000 given
Finance charge = 6%
Retained amount = 2% of total receivables
Now the journal entry to record on the books of Carter is as follows;
Dr. Cr.
1 May Cash 736000
Due from factor (2% x800,000) 16000
Loss on receivables(6%x 800,000) 48000
Account receivables 800,000
(b). Journal entry required on Rapid Finance’s books on May 1:
Dr. Cr.
1 May Account receivables 800,000
Due to dexter 16000
Financing Revenue 48000
Cash 736000
(c). Journal entry required on Carter’s books on May 1:
Dr. Cr.
1 May CASH 736000
Due from factor (2% x800,000) 16000
Loss on receivables(48000+14000) 32000
Account receivables 800000
Resources liablity 14000
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you are a city planner in chicago, interested in pursuing hydrothermal liquefaction. if all goes as planned, where would be the best place for you to visit to learn more?
The macromolecules that make up the biomass are hydrolyzed or destroyed by water at average temperatures and high pressures during the hydrothermal liquefaction process.
Hydrothermal liquefaction lasts how long?Rapid hydrothermal liquefaction leads to short residence times for depolymerization to take place. However, the residence time is largely dependent on the reaction circumstances, including feedstock, solvent ratio, and temperature. Typical residence times are reported in minutes (15 to 60 minutes).
What is a response of liquefaction?When there is violent ground shaking, wet, loosely packed sediments at or near the surface of the ground start to lose strength and liquefy. Liquefaction beneath houses and other structures during earthquakes can cause substantial harm.
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your manager has left, and their successor is not as skilled a leader. which characteristics of tasks at your organization would substitute for the missing leadership? check all that apply.
The characteristics and the tasks that would have to substitute for the missing leadership would be: Option B and D
Informal lines of authorityClear, inflexible rulesWhat is meant by leadership?The capacity to get your followers or other members of an organization to act or influence them to do what you want is referred to as leadership.
The human ability of inspiring a group of individuals to make them take certain actions as they go after a common objective is known as leadership. In a professional environment, this can mean managing coworkers and staff in accordance with a strategy that meets the demands of the business.
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Your manager has left, and their successor is not as skilled a leader. Which characteristics of your organization would substitute for the missing leadership? Check all that apply.
Predictable rewards
Informal lines of authority
Strong group cohesion
Clear, inflexible rules
The process of​ monitoring, comparing, and correcting work performance is the management function known as​ ________.
The process of monitoring, comparing, and correcting work performance is the management function known as controlling.
Controlling is a management function that assists in obtaining desired results from employees at all organisational levels, including managers and subordinates. The managing function assists in tracking advancement toward corporate objectives, identifies deviations, and suggests necessary remedial action.
A technique for ensuring that standards are being met within an organisation is the "Controlling Process." In order to make the appropriate decisions regarding each, it entails the careful gathering of information about a system, process, individual, or group of people. Control is strongly associated to power and the ability to influence opinions, judgments, or actions.
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legacy issues $580,000 of 8.0%, four-year bonds dated january 1, 2021, that pay interest semiannually on june 30 and december 31. they are issued at $507,959 when the market rate is 12%.
Date General Journal Debit Credit
Jan. 1 Cash 507959
Discount on bonds payable 72041
Bonds payable 580000
Total bond interest expense over life of bonds:
Amount repaid:
8 payments of $23200 185600
Par value at maturity 580000
Total repaid 765600
Less amount borrowed 507959
Total bond interest expense 257641
An expense is an object requiring an outflow of money, or any shape of fortune in fashionable, to every other character or group as fee for an object, carrier, or other class of prices. For a tenant, lease is an rate. for college kids or dad and mom, tuition is an price. buying food, apparel, furnishings, or an automobile is regularly called an price. An cost is a value that is "paid" or "remitted", commonly in change for some thing of value. something that appears to cost a first-rate deal is "costly". something that appears to fee little is "less expensive". "expenses of the desk" are fees for dining, refreshments, a dinner party, and so forth.
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why would it be important for an organization to have a standard way of looking at (and evaluating) supplier quality relative to process management?
The important for an organization to have a standard way of looking Leveraged supply base:
Evaluating supplier performance helps organizations set a standard, and this, in turn, leads to superior results.
Additionally, it lets companies plan their goals and actions as per their suppliers' capabilities and performance levels
Having an powerful supplier best management technique allows corporations to correctly audit the supply chain and perceive every precise chance. This allows groups to reduce risks and avoid ability high-priced fallout.
dealer evaluations are crucial due to the fact they help you to make sure that your suppliers are meeting your requirements and necessities. in addition they can help you become aware of any capability problems that might effect your enterprise.
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a characteristic of the long-run is a. there are fixed inputs. b. all inputs can be varied. c. plant capacity cannot be increased or decreased. d. there are both fixed and variable inputs.
a characteristic of the long run is plant capacity cannot be increased or decreased.
Plant capacityThe plant capacity factor represents the power station's reserve capacity. An electric power station is constructed with some reserve capacity in order to satisfy future load demand. As a result, a power station's installed capacity is always slightly more than its maximum demand.
A power station's plant capacity factor is defined as the ratio of actual energy generated to maximum feasible energy that might have been produced during a particular period. The Oprah Winfrey Show What is the normal costing capacity of your plant? Capacity may be described as an internal standard for the greatest amount of product that can be produced in a factory.
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in which phase does the organization place the system into production so users can begin to perform actual business operations with it? multiple choice question.
Maintenance Phase does the organization place the system into production so users can begin to perform actual business operations involves putting the system into production so users can start using it for real-world business processes.The correct answer is Maintenance phase.
To convert the requirements into comprehensive and precise system design and specifications is the goal of the design phase. The Development Team starts the D, or development Phase, when the design has been accepted.Creating Systems.A new system needs to be designed based on user requirements and a thorough investigation. The system design phase is currently underway. The SDLC method keeps shifting from the questions of the analysis phase to the how throughout the design phase.The systems development life cycle (SDLC) contains six phases.System design, analysis, and planning are the first three steps, followed by implementation and deployment.System integration and testing Upkeep of the system.The third phase, system design, focuses on the needs of the customer and essentially ensures that the system will satisfy all technical and functional criteria.
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since maytag’s appliances have earned a reputation as being reliable and durable, john decided to buy a new maytag washing machine despite the fact that it was more expensive than other brands. which dimension of brand equity does this example illustrate?
When a company uses one of its well-known brand names for a new product or new product category, this is called a brand extension.Sometimes it's called "brand stretching."Using the company's already established brand equity to support the launch of its newest product is the strategy behind a brand extension.
Is a brand associated with a number of emotional, psychological, and performance associations?
Customers associate a brand with a variety of emotional, psychological, and performance factors.When it comes to brand-loyal uses, these associations frequently become the primary driver of purchase.Brands have other assets that give them a big advantage over competitors, like patents and trademarks.
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when depreciating real property under macrs, the recovery rates are based on which of the following methods?
when depreciating real property under macrs, the recovery rates are based on Straight-line.
Recovery Rate: What Does It Mean?The proportion of defaulted debt that a lender can recoup is known as the recovery rate. Furthermore, it refers to a security's value after it has recovered from bankruptcy or default. Setting the conditions and interest rates for future credit transactions benefits from having an idea of how much debt you can recover. Lenders are able to precisely account for risk thanks to it. In comparison to junior debt, senior debt has a higher recovery rate. The business capital structure, the nature of the debt instrument, the degree of debt, and macroeconomic concerns are other variables that affect the recovery pace.
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in the accounting cycle, after examining source documents and recording transactions in an accounting journal, what is the next step taken by a financial manager?
The next step taken by a financial manager.The company must prepare the financial statements at the conclusion of the accounting year in order to understand its financial condition and the economic.
A balance sheet, income statements, a statement of cash flows, and occasionally the owner's equity are all included in financial statements, which are written reports created by a company's manager to show the business activities, financial performance, and financial standing or position at any time.To evaluate a company's performance and make accurate predictions regarding the future of the company's stock price, financial analysts rely on financial data.An annual report, which displays a company's reliable and audited financial data (which must have been examined by the government or accountants to assure its accuracy for tax, or investing purposes), can be discovered to contain a company's financial statement.Therefore, after the source papers have been reviewed, documented, and posted, a financial statement is a required step.
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a pharmaceutical company produces a drug to control blood pressure, but it's taken off the market after a number of consumers suffer strokes that some believe are linked to the medication. is the pharmaceutical company liable for negligence in the case of a lawsuit?
The pharmaceutical company is liable for negligence in the case of a lawsuit but only if causation can be established.
Give a brief account on lawsuit.A lawsuit is a legal action brought by one or more parties in a civil court of law. There are very few laws that are still in force today that use the antiquated phrase "suit in law." The term "lawsuit" refers to a civil action brought by a plaintiff (a party who alleges to have suffered loss as a result of a defendant's activities) and wants a court-ordered legal remedy or equitable remedy. The plaintiff's complaint is subject to the defendant's response. If the plaintiff is successful, the court will grant the plaintiff judgment, and a number of orders may be made to enforce the plaintiff's rights, give damages, or impose a temporary or permanent injunction to stop or force an act. To avoid further legal problems, a declaratory decision may be given.
A lawsuit may be used to resolve private law disputes involving people, companies, or nonprofit organizations. A lawsuit may also give the state the opportunity to be treated as a private party in a civil case, either as the plaintiff or defendant in relation to an injury, or it may give the state a civil cause of action to enact particular laws.
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which of the following is a possible strategy for reducing economic exposure? a. hedging with forward contracts b. purchasing foreign supplies c. financing with foreign funds d. all of these are correct.
All of those alternatives are correct covered in possible approach for lowering economic exposure.
What do you imply through economic exposure?Economic exposure (publicity) to foreign exchange threat is the quantity to which the existing cost of a firm's predicted destiny coins flows is suffering from exchange fee changes. Economic publicity contains two coins float exposures: transaction publicity and running publicity.There are important troubles in economic publicity control. First, monetary publicity control need to cover the complete existence of a overseas funding project. Second, monetary publicity control need to cover all elements of commercial enterprise operations, along with the elements market, the product market, and the finance market.What is the distinction among accounting publicity and economic publicity?Translation or Accounting Exposure: equals the distinction among uncovered property and liabilities. The trick is to determine what's uncovered and what's not. Sometimes referred to as stability sheet threat. Operating or Economic Exposure: Changes within side the monetary cost of an corporation because of an exchange fee change.To learn more about economic exposure visit:
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According to the cost-benefit principle, the number of labor hours demanded will labor hours supplied will as the wage decreases. a. rise;fall
b. fall;fall c. rise;rise d. fall;rise
The cost-benefit principle states that as wages decline, the amount of work hours required will increase and the amount of labor hours supplied will decrease.
The Cost-Benefit Principle: What Is It?The cost-benefit analysis analyzes if the advantages of a course of action outweigh its expenses. This idea is frequently applied in the accounting and financial sectors while creating financial statements. Financial statements often contain data that is vital for a company's strategic decision-making, but gathering and presenting the information for the documents has a price.
The bottom line is that some difficult issues demand more in-depth investigation, and a business can employ cost-benefit analysis when it isn't quite clear whether to proceed with a project or not.
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a corporate bond that you own at the beginning of the year is worth $975. during the year, it pays $35 in interest payments and ends the year valued at $965. what was your dollar return and percent return? $ (whole number) and % (calculate to 2 decimal places)
Dollar Return = $25
Percent return = 2.56%
Dollar Return = Capital gain + Income = $965 − $975 + $35 = $25
Percent return = $25 / $975 = 2.56%
The amount that is actually gained or lost as a result of an investment is known as the dollar return. The percentage return, on the other hand, calculates a gain or reduction in relation to the initial investment amount.
In its most basic form, a return—also referred to as a financial return—is the amount of money gained or lost on an investment over time.
The change in an investment's dollar value over time can be used to describe a return nominally.
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CONCEPT REVIEW:
Corporate advertising was described as controversial, largely because the source of the message is top management, so the rules for other advertising and promoting forms are often not applied. This element of communication definitely has its place in the promotional mix. But to be effective, it must be used with each of the other elements, with specific communications objectives in mind.
Match the corporate advertising characteristics with the type of advertising.
Choices:: A Advocacy Advertising Image Advertising An example of this would be the American Heart Association and the American Stroke Association's R support for President Obama's health care program Company benefits from favorable publicity, while the nt Sponsorship charity receives much-needed funds. Cause-Related Advertising YThis may accomplish a number of objectives, including creating goodwill both internally and externally, creating a position for the company, and generating resources, both human and financial. Y Many companies are attracted to this because effective IMC programs can be built around them, and promotional tie-ins can be made to local, regional, national, and even international markets.
Company advertising. noun [ U ] advertising. marketing that describes a company, instead of its products, and this is meant to show the employer in a fantastic manner to the general public: The agency rolled out a company advertising and marketing marketing campaign, highlighting its commitment to energy-saving techniques of production.
The specific styles of corporate advertising encompass image advertising, opinion advertising and investment advertising and marketing. figuring out the motive of an marketing campaign is often the very best manner to differentiate between the different sorts due to the fact the labels applied can often be inconsistent.
Company advertising is generally used for 4 separate scenarios – public family members, company identity, institutional and recruitment. PR is the maximum commonplace cause for corporate marketing. Showcasing the values and intents of the company in an awesome mild may want to sell more hobby and consequently, income.
Company advertising, also known as institutional advertising, is advertising by means of a organization or corporation that tries to create an picture, address an difficulty or talk with precise audiences, which include a employer's personal personnel, approximately topics crucial to the company. unlike customer advertising.
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according to the text, it makes good business sense to go green, and companies that choose to do so are reporting higher gross margins, higher return on sales, higher return on assets, and a stronger cash flow than their less sustainable competitors.
A sustainable competitive advantage is a set of assets, characteristics, or capabilities that enable an organization to better meet the needs of its customers than its competitors. A Sustainable Competitive Advantage Is Hard To Replicate And Hard To Replicate A well-known example of a company with a sustainable competitive advantage is Walmart.
One of the reasons Walmart maintains a sustainable competitive advantage is that its strategies are unique to the organization and that these strategies create a gap between Walmart's performance and that of its competitors.
A sustainable competitive advantage is the key to business success. It's the force that enables businesses to be more focused, generate more sales, generate better profit margins and retain customers and employees at a higher level than their competitors.
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1. determine and compare the total heat transfer rates in the case of natural and forced convections over a heated vertical flat plate.
The totals heat transfer rates in the case of natural and forced convection over a heated vertical flat plate: In natural convection, any fluid motion is caused by natural means such as the buoyancy effect, i.e. the rise of warmer fluid and fall of the cooler fluid.
Whereas in forced convection, the fluid is forced to flow over a surface or in a tube by external means such as a pump or fan.
Forced convection increases the fee of warmth transfer in comparison to natural convection. The charge of the heat switch in compelled convection relies upon the rate of air. The better the airspeed, the higher might be the rate of warmth switch. pressured convection involves fluid movement in addition to conductive warmth transfer.
The overall equation for the case of pressured convection is Nu = f(Re, Pr). within the case of loose convection, it's miles Nu = f(Gr, Pr). in which Tp is the surface temperature.
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which of the following current assets will not generate cash in the future? a. prepayments b. accounts receivable c. inventory d. marketable securities e. notes receivable
notes receivable will not generate cash in the future
Current assets is a balance sheet account that represents the value of all assets that can reasonably expected to be converted into cash within one year. Current assets include cash and cash equivalents, accounts receivable, marketable securities, prepaid expenses, debtors etc.
Current assets are balance sheet items listed in the assets section and include all company-owned assets that can be converted into cash within one year. Assets whose value is recorded in the current assets account are considered current assets.
Current assets include cash, cash equivalents, accounts receivable, inventories, marketable securities, prepaid liabilities and other current assets. A current account is also known as a checking account.
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Which statement is true about principal? (1 point)
It is everything you pay in addition to repaying the
amount you borrow.
O It is the amount you borrow.
It is a percentage of the amount you borrow overtime.
It is a simple way to compare all the various
elements of different loans.
Answer:
It is the amount you borrow
Explanation:
It is the amount you borrow.
The statement that is true about the principal is "It is the amount you borrow." The correct option is B.
What is the principal amount?The principal amount is the total sum that you owe at all times. When you simply took out the loan, it is exactly the amount you borrowed. As you make EMI payments, the principal amount drops until it hits zero, at which point your loan is closed.
Principal refers to the original amount of money that is borrowed from a lender, such as a bank or financial institution. It is the starting point of a loan and does not include any additional fees or interest that may be charged by the lender. The principal amount is the portion of the loan that must be repaid over time, along with any interest charges or fees that are associated with the loan.
Thus, the ideal selection is option B.
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schopenhauer believed that he corrected and completed the work of kant and thus created a kantian-schopenhauer philosophy. t/f
True, Schopenhauer believed that he corrected and completed the work of Kant and thus created a Kantian-Schopenhauer philosophy.
Philosophy teaches critical thinking, close reading, clear writing, and logical analysis; it employs these skills to help students understand the language we use to describe the world and our place in it. The questions they ask distinguish different branches of philosophy.
It is a systematic search for fundamental truths, an effort to understand, and an investigation of moral standards. It seeks to establish criteria for acceptable evidence, offer logical means of resolving disputes, and create methods for assessing claims and counterclaims.
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In the second phase of construction, there is a horizontal plan for expansion, and when the time is right, additional operating rooms will be opened. How many ors will this space accommodate?.
In the second phase of construction, there is a horizontal plan for expansion, and when the time is right, additional operating rooms will be opened. The amount of ORs this space will accommodate is six (6)
What is an operating room?Generally,An "operating room" is "located within a sterile corridor that can be adequately used for 'open' or major surgical procedures probably involving general anesthesia," according to the HCC's best guidance.
On the other hand, "process rooms" typically refer to rooms that are only suitable for minor surgical procedures.
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question content area return on total assets a company reports the following income statement and balance sheet information for the current year: net income $295,320 Interest expense 106,620 Average total assets 6,290,000 Determine the return on total assets. If required, round the percentage to one decimal place.
The return on total assets is 6.25%. EBIT, or earnings before interest and taxes, is a measure of how profitable a business is.
The formula for calculating return on total assets is
Total assets on average / Net income
$125,000 / $2,000,000 = 6.25%
EBIT, or earnings before interest and taxes, is a measure of how profitable a business is.
Revenue less expenses, without taxes and interest, is EBIT. Operating earnings, operating profit, and profit before interest and taxes are other names for EBIT.
EBIT is a measure of an organization's operating profit and is often used interchangeably with operating profit. EBIT ignores factors like the tax burden and capital structure in favor of concentrating exclusively on a company's capacity to create earnings from operations. Because it helps to determine a company's capacity to produce enough earnings to be profitable, pay off debt, and fund continuous operations, EBIT is a particularly helpful indicator.
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the time it takes the fed or congress to change economic policy is part 2 a. a recognition lag. b. an implementation lag. c. a response lag. d. none of the above
The time it takes the fed or congress to change economic policy is part 2 Implementation lags are the type of lag that policy makers need to take into careful consideration because they have the potential to restrict.The Correct answer is A response lag.
Stabilisation policy efficacy and complicate matters. The length of time it takes to implement a specific policy is referred to as an implementation lag. This entails completing responsibilities including organising the money's management, distributing it to the appropriate individuals, and creating spending strategies.The outer lag is the amount of time it takes for monetary or fiscal policies to have effect. The first option, or option "A," is the answer among the possibilities listed in the question. A policy needs a certain amount of time to work its magic. It is impossible to avoid the external lag at this moment in time.Inside lag is the amount of time needed to create a policy, while outside lag is the amount of time needed for the policy to take effect. Implementing policy is delayed by inside lag. It may require more time to implement monetary policy than other types of policy.The duration it takes for monetary policy to take effect is known as the "outside lag."
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which aspects of supply chain management are especially important for small businesses? (select all that apply.)
A strategy's development, sourcing raw materials, production, distribution, and returns are the five most important aspects of SCM. Cost management, cost reduction, and avoiding supply shortages are the responsibilities of a supply chain manager.
How does SCM work?
From the acquisition of raw materials to the delivery of the product at its final destination, supply chain management (SCM) is the management of the flow of goods, data, and finances associated with a product or service.
What is a system for managing the supply chain?
To put it succinctly, it refers to the software that your business employs to oversee the movement of any product or service, including raw material procurement and final delivery, as well as the flow of data, resources, and goods.
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jozmell, christina, jordan, and melissa have been assigned a group project for a class. during the three weeks in which they developed and completed the project, jozmell, christina, and jordan did most of the work. melissa missed meetings, turned in inferior summaries of her assigned readings, and was quiet during brainstorming sessions. on the day of the project presentation, melissa did a good job of delivering her part of the presentation. for most of the project, melissa was engaging in what group process?
Because she was the presenter, her work was individuated and her efforts were identifiable.
A news presenter – additionally known as a newsreader, newscaster (brief for "information broadcaster"), anchorman or anchorwoman, information anchor or truly an anchor – is someone who provides news for the duration of a news software on tv, radio or the internet. they'll additionally be a working journalist, supporting in the series of news cloth and might, further, provide remark throughout the program.
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when the aggregate demand curve and the short run aggregate supply curve are in equilibrium, gdp will be
when the aggregate demand curve and the short run aggregate supply curve are in equilibrium, gdp Could be: less than potential GDP, be at potential GDP, be greater than potential GDP
The level of output that a country's economy is capable of producing at a constant rate of inflation is referred to as potential gross domestic product (GDP) in the OECD's Economic Outlook publication. Even while an economy can occasionally create more than its maximum amount of output, doing so results in higher inflation. Basic Details. US Real Potential GDP currently stands at 24.29T, up from 24.18T in the previous quarter and 23.88T a year ago. One of the theoretical components of national income accounting, known as potential GDP, makes the assumption that full employment has been reached in an economy and that aggregate demand does not exceed aggregate supply. Output Gap: Like the rise and fall of GDP, the output gap can move in both positive and negative directions.
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jerry wants to produce rectangular boxes. each box will have a brass bottom, platinum plated sides and a gold plated top, and each box will have a volume of 500 cubic inches. the costs of the materials are
Jerry desires to produce rectangular packing containers. each box could have a brass bottom, platinum plated sides and a gold plated top, and every box may have a quantity of 500 cubic inches. the charges of the materials are we ought to discover the fee surface place
In manufacturing, research, retail, and accounting, a costs is the price of money that has been used as much as supply a few thing or deliver a provider, and consequently isn't always to be had to be used anymore. In enterprise, the price may be one among acquisition, wherein case the amount of coins expended to accumulate it is counted as cost.
A manufacturing of expenses incurred by means of an enterprise which might be of a comparable nature; they're accrued together both for the functions of reporting and due to the fact they may be subjected to similar treatment by the use of the costing device. Examples of fee gadgets are lease, consumable substances, and varied selling cost.
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why can firms afford to drop prices below costs to meet competition in the short run but not for the long run?
At the profit-maximizing output level, a shutdown occurs when price or average revenue (AR) falls below average variable cost (AVC). Production will continue, but there won't be enough revenue to cover the additional variable costs.
Why are businesses willing to accept short-term losses but not long-term ones?
average total cost curve, whereas a company's exit point is the minimum point on the average variable cost curve over the long term.In the short run, there are fixed costs, but not in the long run.
Can a company lose money quickly?
Maximizing profits in the short term.The company can make more money by producing more goods when its marginal revenue is higher than its marginal cost.When the company's marginal revenue is lower than its marginal cost, it is losing money and must reduce its output.
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health insurance plans which typically reimburse doctors mainly by paying a flat fee per patient are known as part 2 a. fee-for-service plans. b. preferred provider organizations. c. health maintenance organizations. d. single-payer health care systems.
Health maintenance organizations, a type of health insurance plan that typically restricts coverage to medical care from providers under contract or employed by the HMO.
A Health Maintenance Organization group is what exactly?Health maintenance organization (HMO) is a type of health care system that, in exchange for a set, upfront cost, typically undertakes or shares both the financial and delivery risks involved with delivering complete medical services to a freely enrolled population in a certain geographic area.
Why do physicians dislike HMOs?The issue with HMOs is this. To paraphrase a woman who survived two primary breast cancers: The drawback of an HMO is that patients hand over management of their own medical treatment to medical organizations with varying levels of skill and competence who prioritize their own financial interests above the wellbeing of their patients.
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