Payment May Be Denied by the Payer Because

question 26

Multiple Choice

Payment may be denied by the payer because:

• A) additional documentation may be needed.
• B) the service was not covered by the plan.
• C) a coding error was found.
• D) All of the above
• E) None of the above

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Definitions:

Dividends

Disbursements issued by a company to its shareholders, usually sourced from the organization's earnings.

Income Summary

A temporary account used to transfer the revenues and expenses for an accounting period to the Retained Earnings account.

Retained Earnings

The total earnings of a company so far, minus any dividends or distributions given out to shareholders.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, preparing the books for the next period.