Identify the Choice That Best Completes the Statement or Answers

question 5

Multiple Choice

Identify the choice that best completes the statement or answers the question.
-HIPAA requires that using unique identifiers

• A)improve efficiency, effectiveness, and safety of the health care system.
• B)be easy to remember so claims become much easier to submit.
• C)be optional for use since there are so many health plans and health care providers.
• D)be under the direction of each state's insurance commissioner.

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Definitions:

Perpetual Inventory System

A technique in inventory accounting that uses computerized point-of-sale systems and enterprise asset management software for the immediate recording of inventory transactions.

Gross Method

An accounting practice where the purchase discount is not recorded at the time of purchase but is instead recognized when the discount is actually taken.

Merchandise Return

The process of a customer returning previously purchased merchandise to the seller, usually for a refund, store credit, or an exchange.

Periodic Inventory System

A method of inventory accounting where updates to inventory levels are made on a periodic basis rather than after each transaction.