14 Jun Question Midterm Exam page 1
Question
Midterm Exam page 1
Question 1.1. (TCO 4) Budgets normally cover a period of: (Points : 5)
5 years
2 years
3 years
1 year
Question 2.2. (TCO 4) Which budgetary issue causes the most strife in all areas of a health care organization? (Points : 5)
Setting volume levels
Setting prices
Allocation of indirect costs
Deciding whether to use a fixed or flexible budget
Question 3.3. (TCO 4) Efficiency is a relationship between: (Points : 5)
Outputs and organizational goals
Inputs and outputs
Inputs and organizational goals
None of the above
Question 4.4. (TCO 3) Which of the following is the first step in any budgetary process? (Points : 5)
Define standard treatment protocols
Define required departmental volumes
Define standard cost profiles
Define volumes of patients
Question 5.5. (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: (Points : 5)
earn a profit.
have a loss.
break-even.
have a reduced unit contribution margin.
none of the above.
Question 6.6. (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): (Points : 5)
Income statement
Statement of retained earnings
Balance sheet
Statement of cash flows
Report of management
Question 7.7. (TCO 2) _____ is the most important financial metric to review to determine long-te
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