For Each Statement Provided, Choose the Letter of the Appropriate

question 63

Multiple Choice

For each statement provided, choose the letter of the appropriate term from the list that each statement best describes.Some terms may be used more than once, while others are not used at all.
-An artificial segment on the calendar used as a basis for preparing financial statements.

• A)Capital stock
• B)Asset
• C)Owners' equity
• D)Time period
• E)Dividends
• F)Economic entity concept
• G)Expense
• H)Retained earnings
• I)Cost principle
• J)Creditor
• K)Liability
• L)Revenue
• M)Going concern
• N)Monetary unit
• O)Corporation

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Definitions:

Approved Charges

The amounts pre-determined by insurance providers as the maximum they will pay for a covered service or procedure.

X12 837

A standard format for electronically transmitting healthcare claim information from healthcare providers to payers, such as insurance companies.

Electronic Claim

A request for payment for healthcare services that is submitted electronically to a health insurance provider.

Coordination of Benefits

A legal principle that limits payment by insurance companies to 100% of the cost of covered expenses.