Two Physical Therapists Own a Partnership and Receive Draws Each

question 5

True/False

Two physical therapists own a partnership and receive draws each month for the medical services they provided. The draws should be recorded as business expenses.

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Definitions:

Hemoglobin A1C

A form of hemoglobin measured to identify the average plasma glucose concentration over prolonged periods; a key marker in diabetes management.

Diabetes

A chronic condition characterized by high levels of sugar in the blood due to the body's inability to produce or effectively use insulin.

Laboratory Test

A medical procedure that involves the examination of samples taken from the body (blood, urine, tissues, etc.) to assess health, diagnose diseases, or monitor medical conditions.

HIV-positive

The condition of having tested positive for the human immunodeficiency virus, which can lead to AIDS if not treated.