No Matter What Amount a Provider Charges for a Given

question 5

Multiple Choice

No matter what amount a provider charges for a given service, each third-party payer will establish the amount they will pay based on what is considered:

• A) medically appropriate.
• B) usual and ordinary.
• C) usual, customary, and reasonable.
• D) average.

---

Definitions:

Payday

Payday refers to the specific day on which an employer distributes wages or salaries to employees.

Fiscal Period

A specific period of time used by governments and businesses for accounting and financial reporting purposes.

Expired Insurance

Refers to insurance policies that have reached the end of their coverage period and are no longer in effect.

Adjusting Entry

A journal entry made in an accounting period to adjust income or expense accounts to accurately reflect the revenues earned and expenses incurred during that period.