Managements Interest in Variances Is Due To

question 2

Multiple Choice

Managements interest in variances is due to:

• A)the need to gain the information that may assist them to put things back in control.
• B)the desire to gain the maximum information.
• C)the need to compensate employees.
• D)the desire to check all details.

Understand the significance of administrative agencies and their rules in the regulation of business activities.

Acquire a foundational knowledge of how the U.S. legal system operates, including the process of creating laws and the role of courts.

Recognize the importance of legal analysis and evaluation techniques as lasting skills in adapting to changes in law.

Understand the concept of legal precedents and their role in the common law system.

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Definitions:

Billing Date

The specific date on which a bill or invoice is generated, indicating when a payment cycle starts or ends.

Claims Electronically

The submission of insurance claims or healthcare billing information using electronic systems.

Claims Manually

The process of submitting and processing insurance claims by hand or without the aid of automated systems.

Explanation of Benefits (EOB)

A printed description of the benefits provided by the insurer to the beneficiary; provides information to the patient about how an insurance claim from a health provider (such as a physician or hospital) was paid on his or her behalf.