What Type of Accounting Method Is Utilized by HIM Directors

question 21

Multiple Choice

What type of accounting method is utilized by HIM directors (in terms of expenses) ?

• A) Cash method
• B) Tax liability method
• C) Accrual method
• D) Profit method

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Definitions:

Cost Approach

An evaluation method that estimates the value of an asset based on the cost to replace or reproduce it.

Ethical Companies

Businesses that operate in ways that are considered morally right, adhering to principles of fairness, honesty, and respect for people and the planet.

Recoups All Costs

A situation where the total expenses of an investment or project are fully recovered.

Competitive Bidding

Competitive bidding is a procurement process where several suppliers submit bids to win a contract, offering the best terms in terms of price, quality, and service.