When Planning for a Conversion to the Electronic Health Record

question 26

Multiple Choice

When planning for a conversion to the electronic health record, administrative members of the staff should expect that

• A) the process will be easy and fast.
• B) the conversion will take less time than expected.
• C) no paper records will exist effective on the day of conversion.
• D) the conversion will take more time than expected.

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent accounts, thereby resetting the temporary accounts for the next period.

Revenue Accounts

Accounts that track the income a company generates from its normal business activities, such as sales of goods or services.

Retained Earnings

The portion of a company's profits that is kept or retained rather than paid out as dividends to shareholders, often used for reinvestment in the business.

Dividends Account

An account that records the amount of dividends declared by a company to be distributed to its shareholders.