Answered: 1.The ability to communicate financial…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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1.The ability to communicate financial information effectively to others is a valuable skill. Which of the following is not one of the abilities to communicate financial information?

Group of answer choices

Begin with an executive summary.

Organize the body of the report in a logical flow.

Use unaccepted terminology.

Create a report as your method of communication.

2. The manager who is working with financial data needs to be able to read and comprehend how the dollars are laid out and how they are gathered together, or assembled is part of what basic element?

Group of answer choices

Chart of Accounts - The Map

Books and Records - Capture Transactions

Reports - The Produce

Other Elements

3. The use of Electronic Health Records in behavioral health is limited because of _________ which cause persistent barriers to information sharing.

Group of answer choices

employee access

consumer access

privacy concerns

social media concerns

4. What term is used to describe the difference between assets and liabilities for non-profit and government organizations?

Group of answer choices

Owner's Equity

Capital Stock

Fund Balance

Retained Earnings

5. Grouping revenue by different classifications is an effective method for managers to use the information to plan and to control. What term is described as "tend to occur most often in special programs where volume is critical to survival of the program"?

Group of answer choices

Service Line

Revenue Center

Long-Term Care

Physician Groups

6. These following attributes describes which one of the below government programs:

State specific
Serves the poor
Policies are complex and varies among states
Part of the Social Security Act

Group of answer choices

Medicare

Medicaid

Social Security Act

Medicare Advantage

Title XIX

7. In traditional cost accounting circles, ________ is a grouping of similar products.

Group of answer choices

Revenue Centers

Care Centers

Service Lines

Hospital Sites

Commercial Insurers

8. A supply bill for $1,500.00 recorded in the books of the community clinic is an example of a/an:

Group of answer choices

Liability

Expense

Revenue

Charges

Cost

9. According to your text, an office or an entire department are also called __________ _________ within healthcare organizations.

Group of answer choices

Revenue Centers

Cost Centers

Reporting Centers

Professional Services

Responsibility Center

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