The First Federal Law to Specifically Deal with the Privacy

question 6

Multiple Choice

The first federal law to specifically deal with the privacy of health care records was:

• A) Electronic Communication Privacy Act
• B) Gramm-Leach-Bliley Act
• C) Health Insurance Portability and Accountability Act
• D) Computer Abuse Amendments Act
• E) Patient Safety and Quality Improvement Act

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Definitions:

Equivalent Units

A concept in cost accounting used to denote the amount of finished goods units that could have been produced given the total amount of production inputs.

Conversion Costs

The expenses specifically associated with converting raw materials into finished goods, including labor and overhead costs.

First-In, First-Out

A method for managing inventories and accounting, assuming that the earliest goods purchased are the first to be sold or used.

Inventory Costing

Methods used to value and account for inventory, including Specific Identification, FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and Weighted Average.