Assume Mercy Hospital uses accrual accounting. Which of the following statements is most correct?
A. Supplies expense is recognized when medical supplies are delivered to the hospital by the vendor.
B. Patient service revenue is recognized when payment is received by the hospital from a third-party payer.
C. Salaries expense is recognized when payroll checks are written.
D. Patient service revenue is recognized when healthcare services are provided.
E. Statements A., C., and D. are all correct.
Ans: D. Patient service revenue is recognized when healthcare services are provided.
You might also like to view...
In their guidelines on interviewing, the Council of American Survey Research Organizations suggests that interviewers have unnecessary side conversations with the respondent in an effort to make the respondent more comfortable
Indicate whether the statement is true or false
According to the Business Environment and Performance Impact Model, ________ provide support to organizations' activities and to the resultant performance, countering business pressures
A) EC and IT B) missions and strategies C) core competencies and critical response activities D) markets and government