The Health Insurance Portability and Accountability Act (HIPAA) Mandates That

question 4

Multiple Choice

The Health Insurance Portability and Accountability Act (HIPAA) mandates that health information can be shared: (Select all that apply.)

• A) In order to provide treatment for the patient.
• B) To determine billing and payment issues.
• C) To enhance health care operations related to the patient.
• D) In public areas such as the cafeteria or elevator.
• E) Over the telephone with any family member

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Definitions:

Variable Costing

A costing method that includes only variable costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of a unit of product, excluding fixed overhead costs.

Absorption Costing

Absorption Costing is a method of inventory costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.

Inventory Decreases

A reduction in the quantity of goods or materials held in stock, which can impact production, sales, and the overall financial health of a business.

Variable Costing

An accounting method that includes only variable costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of goods sold and inventory valuation.