Contracct Study guides, Class notes & Summaries

REVIEWED ACCT 505 QUESTIONS AND ANSWERS Contractual adjustments that arise from differences between the gross charge for patient services and the amount paid by a third party payor are reported as: A) Disclosures in the notes to the financial statements. B) Either deductions from gross patient revenue or disclosure in the notes, depending on the dollar amount of the adjustments relative to billings. C) Bad debt expense. D) Deductions from gross patient revenue in arriving at net ...

CON 3990 EXAM PRACTICE KIT WITH COMPLETE QUESTIONS AND CORRECT ANSWERS RATED A+ What is the Micro-purchase threshold for supplies? Correct Answer $10k All incentive contracts (schedule or performance) must also include what? Correct Answer Cost incentive or constraint What requires funds to be used only for needs or services in the year of the appropriations obligation period? Correct Answer Bona Fide Needs Rule What contract types can be used for commercial item purchases? Corr...