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Vet Management Finance Mangement Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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Vet Management Finance Mangement Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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  • June 19, 2024
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  • 2023/2024
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Vet Management: Finance Mangement
Who is most likely to be responsible for producing and interpreting
financial statements, tax planning, cash flow projections, and estate
planning?

Select one:

a. Bookkeeper

b. Accountant

c. Practice manager

d. Head receptionist

e. Veterinarian

b. Accountant


Which of the following has passed a comprehensive examination that
tests knowledge of accounting and tax principles, auditing standards,
and business law?

Select one:

a. Bookkeeper

b. Accountant

c. Certified Public Accountant

d. Head receptionist

e. Public accountant

c. Certified Public Accountant

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Which of the following best describes the overall group of business
statistics that, when collected and analyzed, can help a practice owner
or manager determine the health of the business?

Select one:

a. Profit statement

b. Accounts payable receipts

c. Key performance indicators

d. Accounts receivable report

c. Key performance indicators


An accounts receivable summary should list money that is due to the
practice in which of the following daily increments?

Select one:

,a. 10, 20, and 30

b. 20, 40, and 60

c. 30, 60, and 90

d. 40, 80, and 120

e. 60, 90, and 120

c. 30, 60, and 90


An economic downturn has occurred in the community where the
veterinary practice is located. Which of the following report is most likely
to indicate that clients are starting to spend less money at the clinic?

Select one:

a. Client survey

b. Accounts payable

c. Accounts receivable

d. Average client transaction

e. Number of new clients

d. Average client transaction


Which of the following is the most appropriate course of action for a
veterinary practice manager to take if the average client transaction per
quarter is dropping?

Select one:

, a. Retrain team members on how to garner greater client compliance.

b. Institute an across-the-board 10% increase on all products and
services.

c. Send to collections all those clients who owe the practice money.

d. Reduce the clinic’s spending and payroll.

e. Clients will spend what they want and can afford; no action is
required.

a. Retrain team members on how to garner greater client compliance.


Which of the following report is most likely to show how many clients
have adopted the veterinary team’s recommendations for maintaining
and improving animal health?

Select one:

a. Client survey

b. Accounts payable

c. Number of new clients

d. Client compliance rate

d. Client compliance rate


A practice manager has purchased a new laptop computer,
accompanying software, a new copy machine, and a new autoclave.
Which of the following document is the most appropriate place to record
these new additions to the clinic?

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