Test bank for Introduction to the Financial Management of Healthcare Organizations, 8e Nowicki Test bank
Introduction to the Financial Management of Healthcare Organizations, 8th Edition by Michael Nowicki Test Bank. This comprehensive and verified test bank is an essential tool for mastering...
d. Organizing, staffing, decision making, communicating, controlling
3. The purpose of healthcare financial management is to
*a. provide accounting and financial information that assists the manager in achieving the
organization?s purpose.
b. manage finances.
c. make a profit.
d. provide accounting and financial information to the board so it can best view the financial position
of the organization.
4. What is the highest level of education most chief financial officers have completed?
,a. Bachelor?s degree
*b. Master?s degree
c. Associate?s degree
d. Doctoral degree
5. Accounting is generally divided into what major areas?
a. Assets and liabilities
b. Cost accounting and financial accounting
c. Charge-based accounting and cost-based accounting
*d. Financial accounting and managerial accounting
6. The purpose of financial accounting is to provide
a. prospective accounting information to external users, including stakeholders.
b. historic accounting information to internal users, including managers.
*c. historic accounting information to external users, such as stakeholders.
d. prospective accounting information to internal users, including managers.
7. The purpose of managerial accounting is to provide
*a. current or prospective accounting information to internal users, including managers.
b. historic accounting information to external users.
, c. prospective accounting information to external users.
d. historic accounting information to internal users, including managers.
8. Healthcare financial managers follow which of the following common measures?
a. Infection rates
*b. Average length of stay
c. Days in accounts receivable
d. Emergency department census
9. Cost accounting is defined as the
a. study of the relationship between costs and charges.
b. preferred accounting method used by Medicare.
*c. study of costs, including methods for classifying, allocating, and identifying costs.
d. study of cost changes and their effect on accounting methods.
10. Historically, the purpose of finance was to
*a. borrow and invest the funds necessary for the organization to achieve its purpose.
b. analyze information provided by managerial accounting to evaluate past decisions and make
strong decisions in the future.
c. keep an organization competitive in the industry.
d. make a profit for the organization.
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