A Facility's Record Retention Policy Is Best Defined as Which

question 16

Multiple Choice

A facility's record retention policy is best defined as which of the following?

• A) The time period in which a person can bring a legal action for an injury or breach of contract.
• B) General principles determining the length of time health data and the medical records in which that data is housed must be maintained by the health care provider.
• C) A document that details what data will be retained, the retention period, and the manner in which the data will be stored.

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Definitions:

Straight-line Method

A method of calculating depreciation for an asset, spreading the cost evenly over its useful life.

Salvage Value

The calculated remaining value of an asset at the close of its productive life.

Depreciation Expense

An accounting method of allocated the cost of a tangible or physical asset over its useful life, representing how much of the asset's value has been used up.

Total Asset Turnover

A measure assessing the productivity of a company's assets in producing sales revenue.