Under the Federal False Claims Act, Records That Should Be

question 41

Multiple Choice

Under the Federal False Claims Act, records that should be retained indefinitely include

• A) payroll records and invoice and billing records.
• B) appointment sheets and postal and meter records.
• C) x-ray films, laboratory reports, and pathologic specimens.
• D) accounts receivable ledgers, deceased patients' medical records, and petty cash vouchers.

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Definitions:

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts, reflecting a constant rate of expense over time.

Net Working Capital

The difference between a company's current assets and current liabilities, indicating its short-term financial health and liquidity.

Cash Receipts

The total amount of money received by a company during a given period, from its various sources of income including sales, interest, dividends, and other revenues.