Which of the following statements pertaining to health maintenance organizations (HMOs) is CORRECT?
A) If a person joins an HMO and undergoes a physical examination, she will be billed for the exam and each subsequent medical service as it is performed.
B) An HMO offers comprehensive services on a prepaid basis to its subscribing members.
C) HMOs are funded by the federal government, and eligibility is determined by the income levels of the participants.
D) Any insurance company that markets group health insurance is an HMO.
Ans: B) An HMO offers comprehensive services on a prepaid basis to its subscribing members.
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Watts Corporation made a very large arithmetical error in the preparation of its year-end financial statements by improper placement of a decimal point in the calculation of depreciation. The error caused the net income to be reported at almost double the proper amount. Correction of the error when discovered in the next year should be treated as
a. an increase in depreciation expense for the year in which the error is discovered. b. a component of income for the year in which the error is discovered, but separately listed on the income statement and fully explained in a note to the financial statements. c. an extraordinary item for the year in which the error was made. d. a prior period adjustment.
Lars is late to class. His professor, Dr. Jackson, believes the tardiness happened because Lars probably could not find a parking space in the overcrowded university lots. Dr. Jackson is making a(n) ___________.
a. self-serving bias b. internal attribution c. just world hypothesis d. external attribution