Lsus Mha 706 Midterm Study Guide Questions And Correct Answers

The basic accounting equation is Assets = Liabilities - Equity {Ans: False}Select all of the TRUE statements about ICD Codes. {Ans: -The greater the number of digits in the code, the more detailed the disease. -The codes currently consist of 3, 4, 5, 6, or 7 digits/characters -ICD- stands for International Classification of Diseases -ICD-10 is the current standard}Cost-Based {Ans: Providers were reimbursed for "actual" costs.}Asset Management Ratio {Ans: Assesses if the business has the right amount of assets for its patient volume}Debt Ratio {Ans: Example of capitalization ratio}Examples of common current liabilities are... {Ans: -Accrued Expenses -Accounts Payable -Notes Payable}