Author Question: Any twelve-month accounting period adopted by a company is known as its fiscal year. a. True b. ... (Read 78 times)

nevelica · **on:** Jul 5, 2018

Any twelve-month accounting period adopted by a company is known as its fiscal year.
a. True
b. False

Indicate whether the statement is true or false

Question 2

Dublin State Hospital would have earned 3,000,000 of patient service revenue under its established rate structure for the year.

However, it does not expect to collect this amount due to charity allowances of 75,000, discounts to third-party payers of 200,000, and an estimated uncollectible amount of 50,000 . For the year, how much should Dublin State Hospital report as patient service revenue?
a. 3,000,000
b. 2,800,000
c. 2,725,000
d. 2,675,000