An Unbilled Services Account Can Be Used to Capture Services

question 19

True/False

An Unbilled Services account can be used to capture services that are provided before and during the surgery that have not yet been billed. The Unbilled Services account is most important at the end of the fiscal period so that proper revenue is recorded.

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Definitions:

Labour Time

The amount of time that workers spend in the production of goods or services.

Cost Driver

A factor that causes a change in the cost of an activity or process, used to assign costs based on actual consumption of resources.

Learning Curve Percentage

The rate at which productivity improves as a result of increased efficiency and skill gained from repeated tasks.

Outlier

An outlier is a data point that differs significantly from other observations in a dataset, potentially due to variability in the measurement or it may indicate an experimental error.