If the Office Writes a Letter Writing to a Patient

question 50

Multiple Choice

If the office writes a letter writing to a patient who has a delinquent account, when is the office allowed to threaten to send an account to collection?

• A) If the outstanding balance is greater than $100.00
• B) If the patient has not made a payment for 6 months
• C) If the office really intends to send the account to a collection agency
• D) If the intent is to scare the patient into paying the bill without following through

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Definitions:

Par Value

The nominal or face value of a stock or bond as stated by the issuing company, not necessarily reflecting its market value.

Legal Capital

Minimum amount of capital that a corporation must leave in the company (cannot be withdrawn by stockholders) for the protection of the creditors.

Stated Value

A value assigned to no-par stock by the company's board of directors.