On Completion of the Processing of the Claim, the Insurance

question 7

Multiple Choice

On completion of the processing of the claim, the insurance company sends what to the insured person?

• A)POS
• B)Claim remittance  
• C)EOB
• D)1490 form

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Definitions:

Sales

Sales refer to the transactions where goods or services are exchanged for money, representing the primary source of revenue for most businesses.

Income Statement Data

Financial information that summarizes a company's revenues, expenses, and profits over a specific period.

Operating Expenses

Costs incurred in the day-to-day operations of a business, excluding direct material and labor costs related to the production of goods or services.

Cost of Goods Sold

The total cost associated with making or acquiring any goods sold during a reporting period, including material, labor, and overhead costs.