Which of the Following Is Not Correct with Respect to Reporting

question 10

Multiple Choice

Which of the following is not correct with respect to reporting of patient service revenue for health care organizations?

• A) Patient service revenue must be reported net of estimated adjustments for contractual adjustments
• B) Changes to estimates of contractual adjustments related to prior periods must be reported as a prior period adjustment if material
• C) Patient service revenue does not include amounts representing charity care
• D) Unrestricted bequests and investment income for current unrestricted purposes may be reported as either operating or nonoperatiang revenue, depending on the policy of the entity

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Definitions:

Currency Risk

The potential for financial loss due to fluctuations in foreign exchange rates affecting investments or business operations involving different currencies.

Foreign Currencies

Currencies used in countries other than one's own, involved in international trade and finance transactions.

Labour Content

The total amount of work or labor hours required to complete a unit of production.

Shift

A work period in a day during which an employee is scheduled to work, typically characterized by its start time, such as day shift or night shift.