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Which of the following statements is true regarding hospitals? Hospital accounting and financial reporting is identical to that used by for-profit businesses. Hospitals use modified

Which of the following statements is true regarding hospitals?

Hospital accounting and financial reporting is identical to that used by for-profit businesses.

Hospitals use modified accrual accounting

Hospitals record revenues based upon full charges and report contractual adjustments as a deduction from revenues

Hospitals report charity care in the same manner as contractual adjustments.

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