Which of the Following Is the First Step for Coding

question 68

Multiple Choice

Which of the following is the first step for coding in ICD-10?

• A) Assign the appropriate code using the highest degree of specificity
• B) Read and follow the terms in the parentheses and brackets
• C) Follow instructional terms to direct you to the appropriate code
• D) Locate the term in the Alphabetic Index
• E) Refer to the notes under the appropriate heading

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Definitions:

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding production costs but including items like rent, utilities, and payroll.

Net Income

The total profit of a company after all expenses, including taxes, cost of goods sold, and operating expenses, have been deducted from total revenue.

Variable Costing

Another perspective: A costing methodology that treats only those costs that vary with production level as product costs, emphasizing the impact of fixed costs on profitability.

Special Order Decisions

Special order decisions involve determining whether a business should accept or decline a custom order that differs from normal sales, considering capacity and costing.