Both governmental and nonprofit hospitals must report a liability for medical malpractice claims once it is probable that the claim will have to be paid and the amount is known.

Question

Quizplus · Accepted Answer

Expenses for medical malpractice claims must be recognized and liabilities reported if it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated.

Both Governmental and Nonprofit Hospitals Must Report a Liability for Medical