The Best Way to Be Sure That an Intended Action

question 34

Multiple Choice

The best way to be sure that an intended action will NOT be subject to investigation as fraud is to:

• A) base the decision on past practices.
• B) obtain an advisory opinion from the Office of Inspector General (OIG) and Centers for Medicare and Medicaid Services (CMS).
• C) submit the claim, and request an explanation if denied.
• D) get the advice of an attorney.

Recognize and adjust entries for advanced payments and understand the concept of unearned revenue.

Identify different types of adjusting entries and their impact on financial statements.

Comprehend the consequences of failing to make necessary adjusting entries.

Distinguish between different types of revenues and how they are recognized.

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Definitions:

Ethics Standards

Guidelines or codes designed to set out acceptable behaviors and help individuals make moral decisions in their personal and professional lives, aiming to uphold integrity and honesty.

Disciplinary Action

A process or measure taken by an organization or authority to address and correct inappropriate behavior or violations of policies or rules.

Values Orientation

The emphasis on core principles and morals that guide behavior within an organization or society, impacting decision-making and priorities.

Compliance Orientation

Focuses on adherence to rules and regulations, often within the context of business or organizational operations, to ensure lawful and ethical conduct.