In 2012,ASC X12 Version 5010 Replaced Version 4010/4010A1 as the Standard

question 103

True/False

In 2012,ASC X12 Version 5010 replaced Version 4010/4010A1 as the standard for all HIPAA covered transactions.

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Definitions:

Fiduciary Duty

A legal obligation of one party to act in the best interest of another. The obligated party is typically in a position of trust, such as a financial advisor or trustee.

Rightful Dissolution

The legally justified process of formally ending the existence of an entity, such as a corporation or partnership.

Managing Partner

A member of a partnership who is responsible for its day-to-day operations and has the authority to make managerial decisions.

Actual Authority

The power that an agent or representative is formally granted by a principal or entity to conduct business on their behalf.