The First Thing That Should Be Done When an NSF

question 57

Multiple Choice

The first thing that should be done when an NSF check is received at the physician's office is to

• A) add the check back to the patient's statement balance.
• B) call the patient to let the person know that the check was returned.
• C) send a certified letter to the patient to demand payment for the check.
• D) add the NSF fee to the patient's statement balance.

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Definitions:

Fixed Manufacturing Overhead

The total of all manufacturing costs that do not vary with the level of production, such as rent, salaries, and insurance.

Reconciliation

The process of ensuring that two sets of records or financial accounts are in agreement, often used in accounting to match transactions.

Super-Variable Costing

No real financial accounting term aligns exactly with "Super-Variable Costing"; may be a mistaken or niche term.

Variable Costing

An accounting method that considers only variable costs in determining the cost of goods sold and evaluates profitability.