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Chapter 2 Review Exam Questions and Complete Solutions Graded A+

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Course PSC Finance and Business Skills
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Chapter 2 Review Exam Questions and Complete Solutions Graded A+

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Chapter 2 Review Exam Questions and
Complete Solutions Graded A+
The sole proprietor

Selected Answer:



Answers:

is owned by two or more individuals



is the oldest form of business



will have at least two medical assistants



works a standard 40-hour work week



none of the above - Answer: is the oldest form of business



A partnership

Selected Answer:



Answers:

is an agreement that should be in writing



has more financial strength than a sole proprietorship



usually only has one medical assistant



does not protect personal financial loss

, only a, b, and d are correct - Answer: only a, b, and d are correct



Professional service corporations

Selected Answer:



Answers:

allow deductions from taxable income to make contributions to pension plans



are relatively inexpensive to establish



can only be formed with at least three providers



are only established for multispecialty practices



only a and c are correct - Answer: allow deductions from taxable income to make contributions to
pension plans



A health maintenance organization

Selected Answer:



Answers:

is one type of managed care



often identifies a gatekeeper for each member



always provides services under one roof



only a and b are correct

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