HIPAA in 1996 Enacted Security Measures That Do Not Need

question 29

True/False

HIPAA in 1996 enacted security measures that do not need updating and are valid today as written.

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Definitions:

Uncollectible Account

A receivable that is considered uncollectible from a debtor, usually displayed as an expense.

Allowance for Doubtful Accounts

A contra-account reducing accounts receivable to reflect the amount expected not to be collected due to customers' defaulting.

Gross Amount

The total amount before any deductions, such as taxes, expenses, or discounts, are subtracted.

Trade Receivables

Trade receivables are amounts due to a business for goods sold or services provided on credit terms to customers.