HSM 543 WEEK 1 Quiz.

HSM 543 WEEK 1 Quiz Question 1 5 / 5 pts (CO A) Accounting is generally divided into two categories: financial and managerial. Which of the choices best describes managerial accounting? Provides accurate accounting information, primarily historic in nature, to external users Correct! Provides accounting information, generally current, to internal users, including managers Provides accounting information for external and regulatory users Provides information for Medicare and Medicaid reports only Provides information for all third-party payers See Nowicki, page 5. Managerial accounting reports usually show dollar amounts and units of measurement, such as inpatient days or number of procedures, to facilitate analysis of performance and efficiencies in scheduling. Question 2 0 / 5 pts (CO A) Which of the following is not a major objective of healthcare financial management? Generating income You Answered Responding to regulations Facilitating a relationship with third-party payers Influencing the method and amount of payment Correct Answer Increasing market share The list of major objectives is on pages 7 and 8 of Nowicki. Question 3 5 / 5 pts (CO B) All are examples for qualifying to be a tax-exempt organization except which of the following? Operate exclusively for charitable, scientific, or educational reasons Serve public rather than private interests This study source was downloaded by from CourseH on :06:23 GMT -06:00 Not participate in political campaigns Correct! Earn a net profit at the end of the year See Chapter 3, page 51. Question 4 5 / 5 pts (CO A) Some of the identified CFO leadership skills include which of the following? Communicating clearly Providing leadership in day-to-day operations Managing resources and finances Creating a positive organizational culture