Exam (elaborations)
CRCP P Revenue Cycle Management Questions with 100% correct answers | verified | latest update 2024
CRCP P Revenue Cycle Management Questions with 100% correct answers | verified | latest update 2024
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CRCP P Revenue Cycle ManagementWhich of the following management responsibilities involves creating opportunities for
employee growth, identifying potential, offering effective feedback, valuing continuing
education, coaching, supporting membership in association and groups, etc. ?
a. hiring and firing of staff
b. motivation of staff
c. mentoring and training of staff
d. planning
e. budgeting - ANS-c. mentoring and training of staff
A situation where one or more parties to an arrangement have an opportunity to exploit
their position for personal or business advantage is a/an:
a. conflict of interest
b. breach of confidentially
c. inappropriate relationship with a subordinate
d. asset control failure - ANS-a. conflict of interest
Which of the following is/are expected to be settled in cash within one year?
a. balance sheet
b. income statement
c. deduction from revenue
d. current liabilities - ANS-d. current liabilities
Which of the following includes salaries, collection agency fees, and postage?
a. revenue
b. expense
c. balance sheet
d. income statement - ANS-b. expense
The "rules" used in recording and reporting financial affairs and activities of a business
are called:
a. accrual method of accounting
b. cash method of accounting
, c. changes in fund balances statement
d. generally accepted accounting principles - ANS-d. generally accepted accounting
principles
Which of the following is used to evaluate ability to pay debts and to earn income?
a. balance sheet
b. income statement
c. cash flow statement
d. changes in fund balances statement - ANS-b. income statement
Which of the following is/are charity care and bad debt?
a. balance sheet
b. income statement
c. deduction from revenue
d. current liabilities - ANS-c. deduction from revenue
Which of the following is NOT a strategy to improve cash flow?
a. emphasize collection at time of service
b. offer discounts for prompt payment
c. prioritize billing and follow-up for slow payers
d. consider outsourcing smaller or older accounts - ANS-c. prioritize billing and follow-up
for slow payers
Failure to file the quarterly Medicare 838 report will cause Medicare to:
a. start withholding payments
b. require monthly filings
c. send an auditor
d. charge a penalty - ANS-a. start withholding payments
TRUE/FALSE: Credit balances cause gross AR to be understated, making the balance
sheet understated, as well - ANS-TRUE
Which of the following is NOT a required element of a legal contract?
a. offer
b. legal purpose
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