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HCM 416 MIDTERM EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ CA$15.24   Add to cart
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HCM 416 MIDTERM EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++
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HCM 416 MIDTERM EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ Which description defines the term accrual accounting best: Recognizes income when cash obligations are created The balance sheet reports the assets and liabilities of an organization... At a given point in time Whic...

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  • November 10, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • hcm 416 midterm exam questions and answers with co

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HCM 416 MIDTERM EXAM QUESTIONS AND ANSWERS WITH

COMPLETE SOLUTIONS GRADED A++

Which description defines the term accrual accounting best:

Recognizes income when cash obligations are created

The balance sheet reports the assets and liabilities of an organization...

At a given point in time

Which term listed on the balance sheet includes cash and other assets that are

expected to be converted into cash within one accounting period?

Current Assets

Which is statement is true of corporations? Select all that apply.

- Although each form of organization has its own unique advantages and

disadvantages, most large organizations, and all not for profit entities, are organized as

corporations.

- Investor-owned corporations have stockholders who are the owners of the corporation.

-One primary disadvantage of a corporation is that the corporate earnings of taxable

entities are subject to double taxation

Capitation is best described as...? Select all that apply

- When the provider pays a fixed amount per covered life per period (usually a month)

regardless of the amount of services provided

- Capitation payment dramatically changes the financial environment of healthcare

providers and is primarily used by managed care plans.

Which is not private insurer?

, Medicaid

Which term best describes an investor-owned corporation?

For-profit business organization

Which one of these would not be listed under current assets on a balance sheet?

notes payable

Revenues can be shown on the income statement in several different formats.

Choose the key term that represents revenues that stem directly from patient

services.

Net patient Service Revenue

Which statement concerning nonoperating income is false?

All income statements contain a separate section titled nonoperating income.

A major problem in our healthcare system that occurs because individuals and

businesses who are more likely to have claims are also more likely to have

insurance

adverse selection

Which of the following is not a fee-for-service payment method?

Capitation

Which of the following benefits is not included in the Affordable Care Act(ACA)?

Payment incentives

Which is the correct accounting equation for the balance sheet? Hint: there may

be more then one answer

a. Assets = Liabilities + Equity

b. Equity = Assets - Liabilities

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