Which of the Following Is the Best Example of a Situation

question 92

Multiple Choice

Which of the following is the best example of a situation justifying a straightforward claim?

• A)The transmission in your car gave out after the warranty period.
• B)A shipment arrived two weeks after the date that delivery was promised.
• C)Your credit card was billed twice for a purchase you made.
• D)You skipped the instructions and accidentally broke an object purchased.

Acknowledge the process and significance of following up on delinquent claims with insurance carriers.

Understand the advantages of using an Electronic Claims Tracking (ECT) system.

Distinguish between different forms (CMS-1450, CMS-1500) and their specific uses in the healthcare industry.

Comprehend the fees associated with using a clearinghouse for claims processing.

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Definitions:

Cost of Goods Sold

Expenses directly related to manufacturing goods for sale by a business, covering both material and labor expenses.

Inventory

The raw materials, work-in-progress goods, and completely finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Net Realizable Value

The estimated selling price of goods minus the costs of their sale or disposal, used in inventory valuation and accounts receivable.

Write-Down

A reduction in the book value of an asset when its market price falls below its carrying value on the balance sheet.