Which of the following is true regarding accounting and financial reporting for not-for-profit health care organizations?
A. Contractual adjustments with insurance companies are reported as a reduction in patient service revenue.
B. Charity care is reported as operating revenue at the normal and customary rate and bad debt expense is reported for an equal amount.
C. Both of the above.
D. Neither of the above.
Answer: A
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What will be an ideal response?
State approval is needed in order to form a sole proprietorship
Indicate whether the statement is true or false