Jasmine Started a New Business in the Current Year

question 103

Multiple Choice

Jasmine started a new business in the current year. She incurred $10,000 of start-up costs. How much of the start-up costs can be immediately expensed (excluding amounts amortized over 180 months) for the year?

• A) $0.
• B) $2,500.
• C) $5,000.
• D) $10,000.
• E) None of the choices are correct.

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Definitions:

Fraud

Deceit or trickery intentionally practiced to gain unfair or unlawful advantage.

Manual Claims Tracking

The process of monitoring and recording insurance claims by hand, without the use of automated software systems.

Clearinghouse

A central agency for the collection, classification, and distribution of information or transactions.

Incorrect NPI

Refers to an error in the National Provider Identifier, a unique identification number for health care providers in the United States.