Which of the Following Is an Optional Step in the Accounting

question 38

Multiple Choice

Which of the following is an optional step in the accounting cycle?

• A) Adjusting entries
• B) Closing entries
• C) Correcting entries
• D) Reversing entries

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Definitions:

Capitated Rate

A payment arrangement for healthcare service providers where they receive a set amount for each enrolled person assigned to them, regardless of the amount of services provided.

Copayments

A fixed amount paid by a patient for a covered healthcare service, usually when receiving the service, with the rest covered by their insurance.

Primary Payer

The insurance policy, plan, or program that is responsible for paying first on a claim for medical services before any other secondary coverage is considered.

Work-sponsored Insurance

Insurance coverage provided by an employer, often including health, dental, and life insurance benefits.