45. Sandra and Bill, both 78, are Texas residents. Sandra participates in the state's Long-Term Care Partnership program; Bill, her neighbor, does not. Both are found eligible forMedicaid payment of their LTC services. Which of the following can Sandra do that Billcannot?(Search Chapter 11)a. transfer designated resources to another individual without penaltyob. avoid having any of her monthly income applied to the cost of her LTC servicesOC. avoid Medicaid eligibility redetermination and reverification after initial eligibilityod. designate her home as a protected countable asset

Sandra, as a participant in the Long-Term Care Partnership program, has the ability to protect…

Answered: 45. Sandra and Bill, both 78, are Texas…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ned is a head of household with a dependent son, Todd, who is a full-time student. This year Ned made the following expenditures related to Todd's support: Auto insurance premiums $ 1,700 Room and board at Todd’s school 2,200 Health insurance premiums (not through an exchange) 600 Travel (to and from school) 350 What amount can Ned include in his itemized deductions?
Please explain every step. Thank you
Question 27 of 50. Mark and Carrie are married, and they will file a joint return. They both work full-time, and their 2021 income totaled $89,000, all from wages. They have one dependent child, Aubrey (5). During the year, they spent $9,000 for Aubrey's child care. Neither Mark nor Carrie received any dependent care benefits from their employer. What amount may they use to calculate the Child and Dependent Care Credit? $0 $3,000 $8,000 $9,000 Mark for follow up
Question 53 of 75. In which of the following scenarios are qualified educational expenses for the education credits NOT reduced? Paige received a tax-free fellowship from Carnegie Mellon University to pursue her research of COVID-19 variants. Kyle received tuition reimbursements from his employer, Summerhouse Brewing Company. Carl's scholarship from Hofstra University was taxable because he used it to pay for an off-campus apartment. Amanda received veteran's educational assistance under the G.I. Bill. Mark for follow up
A8
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Sue is just learning about disability insurance. Which statements are true about disability insurance? I. Disability income insurance pays a monthly benefit in the event that Sue is unable to work as a result of an injury or an illness. II. Disability insurance under regular occupation is a policy that provides benefits if Sue is unable to perform the duties required by her regular occupation. III. Disability insurance under "any occupation" is a policy that provides benefits only if Sue cannot perform the duties of any job that fits her education and experience. IV. Indemnification is the insurance concept of putting Sue back into the same position that she was in prior to the injury or illness. A I, III, and IV II , III, and IV C All responses D I and II E I, Il and III
I Need Explation solution and step by step solution....
Jessica has a Personal Auto Policy (PAP) providing the following coverages: • Coverage A: 250/500/100 Coverage B: $10,000/person • Coverage C: 150/300 Coverage D: $500 deductible (collision): $500 deductible (comprehensive) Under the following scenario: (1) identify which PAP coverage is at issue (ONLY enter the letter A, B, C, or D); and (2) how much Jessica's insurance company will pay. NOTE: If you believe it is excluded/not covered, enter $0, otherwise, determine the amount and enter the amount with the $, any necessary commas, and no decimal points/cents (e.g., $1,500). Failure to follow these directions will result in answers being marked incorrect. Jessica allows her friend, Chris, to borrow her car to run a quick errand. When Chris is on her way back from the store, she totally misses a stop sign and causes an accident. The other driver's brand new car is totaled, and it had a value of $26,000. Jessica car suffers $2,100 in damages, as well. NOTE: There are 2 different…
Which of the following statements is not correct about Medicaid? Multiple Choice The Social Security Act created Medicaid in 1965. Medicaid is a program of medical assistance to certain low-income individuals and families. Medicaid is administered by each state within certain federal guidelines. Medicaid is financed by both state and federal funds. Medicaid is provided to wealthy individuals.

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