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MHA 706 Module 1 (LSUS MHA 706) – Questions & Correct Answers
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MHA 706 Module 1 (LSUS MHA 706) – Questions &Correct Answers
Healthcare Finance Correct Ans - is the practice of finance,
including both accounting and financial management, within health
services (provider) organizations
Accounting Correct Ans - concerns the measurement, in financial
(dollar) terms, of events that reflect the resources, operations, and
financing of an organization
Financial managment Correct Ans - provides the theory, concepts,
and tools necessary to help managers make better financial decisions
Business characteristics Correct Ans - -obtains financing from the
marketplace
-uses the funds to buy assets
-operates the assets to provide goods or services
-sells the goods or services to create revenue
Pure Charity Correct Ans - refers to an undertaking for a charitable
purpose only. The relief of poverty, advancement of education,
advancement of religion, promotion of health, the obtaining of good
government, and the accomplishment of that which is beneficial to the
community in any other respect are pure charities.
Primary role of finance Correct Ans - is to plan for, acquire, and
utilize resources to maximize the efficiency (and hence value) of the
enterprise.
The Four C's Correct Ans - cost minimization
cash sufficiency
capital access
control of financial resources
3 categories of business organizations Correct Ans -
proprietorship, partnership, and corporation (there are also hybrid forms)
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