Community benefits serve as justification for a non-profit healthcare organization's tax-exempt status. True or False
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Community benefits serve as justification for a non-profit healthcare organization's tax-exempt status.
True or False
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- The following questions concern the appropriate accounting for a private not-for-profit health care entity. Write complete answers for each question. What is a third-party payor, and how have third-party payors affected the development of accounting principles for health care entities? What is a contractual adjustment, and how does a health care entity record this figure? How does a not-for-profit health care entity account for donated materials and services? How does a not-for-profit health care entity account for donated materials and services?What are the essential differences between social insurance and public assistance programs? Why is Medicare a social insurance program, whereas Medicaid is a public assistance program? Why is the earned-income tax credit considered to be a public assistance program?A nonprofit hospitals revenues and expenses are reported on its statement of activities TRUE or FALSE?
- Please describe factors that influence the financial viability of a healthcare organization and discuss the major aspects of Medicare benefits? and how do legal and regulatory issues shape and define the good financial management of an HCO?How does a voluntary health and welfare organization account for donated goods and cash contributed for operating purposes ? What types of revenues are recognized by voluntary health and welfare organizations ?Registered charities and non-profit organizations are taxed on their profit or income. True False
- What are the fundamental distinctions between social security and public assistance? Why is Medicare a kind of social insurance, whilst Medicaid is a form of public assistance? Why is the earned-income tax credit considered a kind of government assistance?QUESTION: If it is now profit hospital, its income tax after tax credit is:How does a recipient not-for-profit entity record the receipt of a gift that will be transferred without restriction to another charitable entity? What if the donor retains the right to revoke or redirect the gift?