Financial operations involves the day-to-day undersight of such tasks as billing and collections (revenue cycle), cash management, and inventory management. True False

//Financial operations involves the day-to-day undersight of such tasks as billing and collections (revenue cycle), cash management, and inventory management. True False

Financial operations involves the day-to-day undersight of such tasks as billing and collections (revenue cycle), cash management, and inventory management. True False

Question 1

Cost of Goods Sold Expenses may be found on the ___.

  • Cash Flow Statement
  • Budget Statement
  • Balance Sheet
  • Income Statement

 

Question 2

Top-down budgets begin at the finance department and with senior management guidance.

  • True
  • False

Question 3

Activity-Based Costing is a methodology that measures the cost and performance of activities, resources, and cost objects.

  • True
  • False

Question 4

Financial operations involves the day-to-day undersight of such tasks as billing and collections (revenue cycle), cash management, and inventory management.

  • True
  • False

Question 5

The Length of Stay (LOS) is the net inpatient revenue divided by total discharges.

  • True
  • False

Question 6

Securities purchases may be found on the ___.

 

  • Cash Flow Statement
  • Balance Sheet
  • Income Statement
  • Budget Statement

 

Question 7

The Return on Equity (ROE) is net income multiplied by the book value of equity (net assets), which measures the dollars of earnings per dollar of equity investment.

  • True
  • False

 

 

 

 

 

 

Question 8

The operating or _____ is the portion of the planning process that outlines how the organizarion expects to meet its objectives.

  • two year plan
  • three year plan
  • four year plan
  • five year plan

 

Question 9

Marginal cost is the cost of one additional unit of output. In an outpatient setting, the cost (typically only supplies) of one more patient visit.

  • True
  • False

Question 10

____ are detailed plans, expressed in dollar terms.

  • Operations
  • Vision
  • Mission
  • Budgets

Question 11

The occupancy rate measures inpatient volume as a percentage of the number of beds.

  • True
  • False

Question 12

Variance is the difference between the actual results and the budgeted (standard) value.

  • True
  • False

Question 13

The _____ is the foundation of the planning process.

  • Marketing Plan
  • Finance Plan
  • Strategic Plan
  • None of the above

Question 14

An after-service activity, of the revenue cycle, includes claims submission.

  • True
  • False

Question 15

Profit analysis is also called____.

  • Fixed costs
  • cost-volume-profit (CVP)
  • Total variable costs
  • Expense Budget

 

Question 16

Total current liabilities may be found on the ____.

  • Cash Flow Statement
  • Income Statement
  • Balance Sheet
  • Budget Statement

 

Question 17

According to the “…ACO Cost Reduction…” article, a 2005 study found that “smalll increase in drug costs (associated with improved adherence) can produce a much larger reduction in medical costs.

  • True
  • False

Question 18

A before-service activity of the revenue cycle includes denials management.

  • True
  • False

Question 19

The type of budget that begins at the subunit (departmental) level is called____.

  • Bottom -up budget
  • Top-down budget
  • Expense budget
  • Revenue budget

Question 20

An ______ may be sponsored by physician groups or by hospitals.

  • Accounting Care Organization (ACO)
  • Accountable Care Organization (ACO)
  • Accounted Care Organization
  • Accountable Case Organization

Question 21

One common price setting strategy is ____.

  • Full cost pricing
  • Direct costing
  • Fee for service
  • Capitation

 

Question 22

The expense budget combines volume data with detailed resource utilization data to forecast expenses.

  • True
  • False

 

 

 

Question 23

One monitoring method for receivables includes the acceleration of receipts.

  • True
  • False

Question 24

Activity Based Costing is causal, because it is based on cause and effect.

  • True
  • False

Question 25

The Current ratio is current assets divided by provision for bad debts only.

  • True
  • False

 

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By | 2018-07-25T19:54:02+00:00 July 25th, 2018|Finance|0 Comments

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