HEALTH CARE FINANCIAL MANAGEMENT, health and medicine homework help

Content Type

User Generated

User

porpxzna85

Subject

Other

Description

Quiz

Top of Form

Question 1(5 points)

Which of the following is NOT considered an advantage of organizing as a C corporation:

Question 1 options:

a)	Easy to transfer ownership through shares of stock

b)	Owners have limited liability

c)	Less costly and less time consuming to set-up relative to other forms of organization

d)	Unlimited life of company that continues in existence after original owners die or leave the company.

Question 2(5 points)

Which of the following does not appear on the balance sheet?

Question 2 options:

a)	Depreciation

b)	Net Income

c)	Liabilities

Assets

Question 3(5 points)

Which of the following is FALSE regarding capitated payment third-party arrangements:

Question 3 options:

a)	Under a profit (CVP) analysis, there is no direct linkage between volume of services provided and revenues

b)	Providers have an incentive to reduce costs and reduce utilization

c)	Providers have an incentive to set higher charge rates to increase revenues

d)	Revenue associated with capitated contracts is often called premium revenue rather than patient service revenue

Question 4(5 points)

Which of the following is a FALSE statement regarding accrual accounting?

Question 4 options:

a)	The revenue recognition principle requires the revenue to be recognized in the period when they are realized and earned. This is the period in which the service is rendered.

b)	An advantage is that there are no complex accounting rules and it is closely aligned to accounting for tax purposes

c)	The economic event that creates the financial transaction, rather than the transaction itself, provides the basis for the accounting entry.

d)	Implementation of the matching principle dealing with expenses creates a problem with long-lived assets such as buildings and equipment.

Question 5(5 points)

Which of the following is NOT considered an expense on the income statement?

Question 5 options:

a)	Depreciation

b)	Notes payable

c)	Provision for Bad Debts

d)	Salaries and benefits

Question 6(5 points)

Which of the following asset is least liquid?

Question 6 options:

Cash

b)	Fixed assets (property and equipment)

c)	Short-term securities

d)	Accounts receivable

Question 7(5 points)

Which of the following is considered a fixed cost:

Question 7 options:

Bandages

b)	Salaries of Full-time permanent staff

c)	X-ray film

d)	Laboratory slides

Question 8(5 points)

Which of the following is a FALSE statement characterizing managerial accounting?

Question 8 options:

a)	Focuses on subunits of an entity for internal decision-making

b)	Is forward-looking

c)	Cost accounting is a subset of managerial accounting

d)	Involves identifying, measuring, recording, and communicating in dollar terms the economic events and status of an organization.

Question 9(5 points)

Which of the following is the CORRECT definition of the statistics budget which is considered the cornerstone of the budget process?

Question 9 options:

	Combines volume and reimbursement data to develop revenue forecasts
	Focuses on costs of providing services including labor and non-labor components
	Specifies the patient volume and resource assumptions used in other budgets
	Combination of the revenue and expense budget

Question 10(5 points)

Which of the following is a FALSE statement concerning variance analysis?

Question 10 options:

	Assists managers identify the factors that cause realized profits to be different from expected profits.
	To be most useful, it examines the difference between the actual, flexible, and static budget.
	Essential to the managerial control process.
	Represents the number of years necessary for cash flow to recover the original investment.

Question 11(5 points)

Which of the following is NOT part of an operational plan?

Question 11 options:

	Working capital management plan
	Strategic plan
	Long-term plan
	Managerial Accounting Plan

Question 12(5 points)

Indicate where the event "paid income taxes" would appear, if at all, on the statement of cash flows.

Question 12 options:

	Operating activities section
	Investing activities section
	Financing activities section
	Does not represent a cash flow

Question 13(5 points)

Net income results when:

Question 13 options:

a)	Assets > Liabilities

b)	Revenues = Expenses

c)	Revenues > Expenses

d)	Revenues < Expenses

Question 14(5 points)

Which of the following is NOT found in a capital budget:

Question 14 options:

	Long-term debt
	Accounts payable
	Retained earnings
	Common stock

Question 15(5 points)

The category that is generally considered to be the best measure of a company's ability to continue as a "going concern" is:

Question 15 options:

a)	Cash flows from operating activities

b)	Cash flows from investing activities

c)	Cash flow from financing activities

d)	Usually different from year to year

Question 16(5 points)

Which of the following performance ratios measure profitability of an organization?

Question 16 options:

a)	Days Cash-on-Hand

b)	Return on Equity

c)	Long-term Debt to Equity

d)	Revenue-per-discharge

Question 17(5 points)

Financial statements are the major means of communicating accounting information to interested parties:

Question 17 options:

	True
	False

Question 18(5 points)

In theory, capital budgeting decisions should depend solely on forecasted cash flows and the opportunity cost of capital. The decision criterion should not be affected by managers' tastes, choice of accounting method, or the profitability of other independent projects.

Question 18 options:

	True
	False

Question 19(5 points)

The Affordable Care Act reduces provide payment rates over the next 10 years. What financial statement and what component will be most impacted in the short-run?

Question 19 options:

	Assets reported in the balance sheet
	Depreciation reported on the cash flow statement
	Unrecognized bad debt reported on the income statement
	Patient revenue reported on the income statement

Question 20(5 points)

Which of the following DOES NOT directty reflect a challenge to revenue cycle performance among healthcare entities today?

Question 20 options:

a)	The complex nature of services billed

b)	The aging of the population

c)	Improper coding

d)	The complex specification for billing practices

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Hi there,Kindly use the below attached answers

1. c) Less costly and less time consuming to set-up relative to other forms of organization.
2. c) Liabilities
3. a) Under a profit (CVP) analysis, there is no direct linkage ...