Which of the Following Is a Drawback of Using Standard

question 57

Multiple Choice

Which of the following is a drawback of using standard costing system?

• A)It can be expensive and time-consuming to implement.
• B)It distorts actual cost information.
• C)It is often inaccurate.
• D)It is applicable only to manufacturing businesses,not service businesses.

Understand the payment systems in healthcare, including prospective, retrospective, capitation, and the role of third-party payers.

Discuss the ethical and legal implications of healthcare delivery, including preventable medical errors and the Patient Protection and Affordable Care Act (PPACA).

Explore the role of technology and education in improving healthcare efficiency and patient care.

Examine the career opportunities for nurses in healthcare economics, including case management and utilization management.

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Definitions:

Credit Period

The time frame granted by a creditor within which payment for a purchase must be made; typically used in commercial transactions.

Credit Risk

The risk of loss resulting from a borrower's inability to repay a loan or meet contractual obligations.

Carrying Cost

A financial term representing the total cost of holding inventory, including storage, insurance, taxes, and opportunity costs.

Receivables

Funds that customers owe to a business for products or services that have been provided but remain unpaid.