Define and describe the purpose of fund accounting

What are the nursing interventions for this patient? Explain your answer.
November 14, 2020
If you started the infusion at 8 am what time will you need to hang a new bag:__
November 14, 2020

Define and describe the purpose of fund accounting

Define and describe the purpose of fund accounting

Midterm Exam page 1 Question 1. [http://www.bezern.com/]1. [http://www.bezern.com/] (TCO 4) Budgets normally cover a period of: (Points : 5) 5 years 2 years 3 years 1 year Question 2. [http://www.bezern.com/]2. [http://www.bezern.com/] (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. [http://www.bezern.com/]3. [http://www.bezern.com/] (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. [http://www.bezern.com/]4. [http://www.bezern.com/] (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. [http://www.bezern.com/]5. [http://www.bezern.com/] (TCO 3) Assume that the clinic used the price that they need to exactly break even at 10,000 shots. [http://www.bezern.com/] Fewer people than expected showed up and purchased the flu shot. [http://www.bezern.com/] The clinic would: (Points : 5) earn a profit. [http://www.bezern.com/] have a loss. [http://www.bezern.com/] break-even. [http://www.bezern.com/] have a reduced unit contribution margin. [http://www.bezern.com/] none of the above. [http://www.bezern.com/] Question 6. [http://www.bezern.com/]6. [http://www.bezern.com/] (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. [http://www.bezern.com/]7. [http://www.bezern.com/] (TCO 2) _____ is the most important financial metric to review to determine long-term financial viability. [http://www.bezern.com/] (Points : 5) Return on equity Total margin Days cash on hand Hospital cost index None of the above Midterm Exam page 2 Question 1. [http://www.bezern.com/] 1. [http://www.bezern.com/] (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. [http://www.bezern.com/] The following information has been prepared for a home health agency. [http://www.bezern.com/] BudgetActual Wage Rate per Hour $16. [http://www.bezern.com/]00 $17. [http://www.bezern.com/]00 Fixed Hours 320 320 Variable Hours per Relative Value Unit (RVU) 1. [http://www.bezern.com/]0 1. [http://www.bezern.com/]1 Relative Value Units (RVUs) 1,000 1,200 Total Labor Hours 1,320 1,640 Labor Costs $21,120$27,880 Cost per RVU $21. [http://www.bezern.com/]12 $23. [http://www.bezern.com/]23 Budgeted costs at actual volume would be $25,344 ($21. [http://www.bezern.com/]12 × 1,200), and the total variance to be explained is $2,536 Unfavorable ($27,880 – $25,344). [http://www.bezern.com/] Be sure to specify whether the variance is favorable or unfavorable. [http://www.bezern.com/] (Points : 5) Question 2. [http://www.bezern.com/] 2. [http://www.bezern.com/] (TCO 2) Explain the difference between the accrual basis of accounting and the cash basis of accounting. [http://www.bezern.com/]? (Points : 10) Question 3. [http://www.bezern.com/] 3. [http://www.bezern.com/] (TCO 2) What is an accounting entity? (Points : 10) Question 4. [http://www.bezern.com/] 4. [http://www.bezern.com/] (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? (Points : 20) Question 5. [http://www.bezern.com/] 5. [http://www.bezern.com/] (TCO 2) Define and describe the purpose of fund accounting (now called net assets). [http://www.bezern.com/] (Points : 20)

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