HealthCare Finance Test 1 Questions with Complete Answers Already Passed
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Course
HealthCare Finance
Institution
HealthCare Finance
HealthCare Finance Test 1 Questions with Complete Answers Already Passed
Which of the following statements about finance, accounting, and financial management is most correct? - Answers the primary role of finance is to plan for, acquire, and use resources to maximize the efficiency (and value) o...
HealthCare Finance Test 1 Questions with Complete Answers Already Passed
Which of the following statements about finance, accounting, and financial management is most
correct? - Answers the primary role of finance is to plan for, acquire, and use resources to maximize the
efficiency (and value) of the enterprise
which of the following is not a finance activity? - Answers facilities management
which of the following statements about the finance departments of large healthcare organizations are
most correct? - Answers all of the statements are correct
- the department is headed by the chief financial officer
- the CFO typically reports directly to the CEO
- the CFO usually is assisted by a comptroller and a treasurer
- the comptroller and treasure often have managers under the responsible for specific functions, such as
patient accounts management and cash management
which of the following statements about hospitals is most correct? - Answers the majority of hospitals
are public or not for profit (as opposed to investor owned)
Which of the following statements about healthcare providers is incorrect? - Answers there are many
more hospitals than there are nursing homes, but nursing homes tend to have a greater number of beds
in the united states, the highest proportion of healthcare expenditures is for - Answers hospital care
which of the following statements about regulatory and legal issues is most correct - Answers most
providers primary legal concern is professional liability
recent surveys of members of the American College of Healthcare Executives and Healthcare Financial
Management Association indicate several critical concerns and challenges, Which of the following
concerns did they identify? - Answers - answers a & b
- adequate reimbursement from government payers
- balancing clinical and financial issues
The four Cs (character, capability, charisma, and courtesy) as described in the textbook summarize the
attributes needed to be a good financial manager - Answers false
The role of finance in healthcare organizations has increased in importance over time because the
finance function must support a multitude of activities, such as cost containment, payer negotiations,
and joint venture activities - Answers true
many studies have demonstrated the integrated delivery systems are able to provide higher-quality care
at lower cost than can stand-alone specialized provided organizations - Answers false
, which of the following activities are characteristic of businesses? - Answers -all of the above
-raising money in the capital markets
-using money raised to purchase assets, such as land, buildings, and equipment
- using the purchased assets to create goods or services
- sustaining themselves financially by selling their goods or services
which of the following statements about the legal forms of for-profit business organization is most
correct? - Answers corporations have the advantage of limited liability to owners
which of the following statements about investor-owned (for-profit) corporations is incorrect? - Answers
when an individual sells his stock, the company receives the proceeds from the sale
which of the following statements about not-for-profit corporations is most correct? - Answers they can
issue tax-exempt (municipal) debt
which of the following individuals are not stakeholders in not-for-profit corporations - Answers
stockholders
assume that jane adams pays income taxes at a 35 percent rate. What would be the after-tax amount on
$100 of interest income she receives? - Answers $65
Assume that John Richards pays income taxes at a 30percent rate. He currently owns a not-for-profit
(municipal) bond that pays 5 percent interest. What interest rate would have to be set on a for-profit
(corporate) bond to produce the same amount of usable (after-tax) income? - Answers 7.1 percent
Which of the following statements about benefit corporations (B corporations) is most correct? -
Answers they allow corporate boards and managers to sacrifice shareholder value for the greater good
Assume that Reginald Worthington, who pays 40 percent in income taxes, plans to contribute 100,000
to not-for-profit Ravenswood Community Hospital. Without contribution, his tax bill would be 500,000..
What would be his tax bill if he makes the contribution? - Answers 460,000
From a financial perspective, businesses and pure charities are identical (i.e., they operate in a similar
fashion). - Answers false
The primary goal of not-for-profit corporations is expressed in a mission statement and often involves
service to the community. - Answers true
Because the organizational and financial goals of for-profit and not-for-profit provider organizations
differ, their financial decision-making processes lead to different decisions - Answers false
Form 990 is a report filed with state regulators that is used to rank hospitals on the basis of patient
satisfaction - Answers false
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