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Describe the basic nature of the three expense recognition methods. Provide two examples of each.
Payment System
A mechanism established to facilitate the transfer of money between individuals, businesses, and institutions.
Resources
Assets, materials, or other assets that can be used to achieve goals or carry out projects, including natural, financial, and human resources.
Medicaid Claim
A formal request for payment directed to the Medicaid program by healthcare providers for services rendered to Medicaid beneficiaries.
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