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HSM 340 Week 4 Midterm

HSM 340 Week 4 Midterm

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Author: Minh Reed
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1.
(TCO 4) Budgets normally cover a period of:

2.
(TCO 4) Which budgetary issue causes the most strife in all areas of a health care organization?

3.
(TCO 4) Efficiency is a relationship between:

4.
(TCO 3) Which of the following is the first step in any budgetary process?

5.
(TCO 3) Assume that the clinic used the price that they need to exactly break even at 10,000 shots. Fewer people than expected showed up and purchased the flu shot. The clinic would:

6.
(TCO 2) A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an):

7.
(TCO 2) _____ is the most important financial metric to review to determine long-term financial viability.

1. (TCO 4) What is the amount of variance that can be attributed to the difference between budgeted and actual volume?
Use the following data to calculate the variances.
The following information has been prepared for a home health agency.
2.
(TCO 2) Explain the difference between the accrual basis of accounting and the cash basis of accounting.?

3.
(TCO 2) What is an accounting entity?

4.
(TCO 1) What are social responsibility and ethics as they relate to business-oriented organizations? How should social responsibility and ethics affect the decisions of even for-profit companies?

5.
(TCO 2) Define and describe the purpose of fund accounting (now called net assets).


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