Score for this attempt: 18 out of 18
Question 1
pts
When liabilities are subtracted from assets, such as inventory, endowments,
federal and state programs, it is called ____________.
expired costs
fund balance
assets
liabilities
Question 2
pts
Food is an example of a(n) ____________.
direct cost
indirect cost
variable cost
expired cost
Question 3
pts
Markus manages a functional entity within a healthcare system that has its
own goals and objectives, dedicated staff, SOP, and financial entity. This is
also called a ____________.
responsibility center
, volume center
support center
none of the above
Question 4
pts
Unpaid wages, accrued vacation time, loans on equipment, and-or buildings
are considered which of the following?
Liability
Asset
Resource
Reserve
Question 5
pts
Match the following terms to their definitions:
FIFO
Method recognizes the first costs placed into inventory as the first costs moved out into the cost of goods sold.
LIFO
Method recognizes that the latest, or last, costs placed into inventory as the first costs moved out into costs of goods sold.
Equity
Question 1
pts
When liabilities are subtracted from assets, such as inventory, endowments,
federal and state programs, it is called ____________.
expired costs
fund balance
assets
liabilities
Question 2
pts
Food is an example of a(n) ____________.
direct cost
indirect cost
variable cost
expired cost
Question 3
pts
Markus manages a functional entity within a healthcare system that has its
own goals and objectives, dedicated staff, SOP, and financial entity. This is
also called a ____________.
responsibility center
, volume center
support center
none of the above
Question 4
pts
Unpaid wages, accrued vacation time, loans on equipment, and-or buildings
are considered which of the following?
Liability
Asset
Resource
Reserve
Question 5
pts
Match the following terms to their definitions:
FIFO
Method recognizes the first costs placed into inventory as the first costs moved out into the cost of goods sold.
LIFO
Method recognizes that the latest, or last, costs placed into inventory as the first costs moved out into costs of goods sold.
Equity
