NAB Domain 3: Finance/Business Verified Exam
Questions and Answers 2026/2027
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Terms in this set (138)
The staff person responsible for 2. the administrator
ensuring that the business office runs
smoothly is, in the final analysis,
1. corporate finance director
2. the administrator
3. business office staff
4. facility treasurer
,In general, the ownership patterns for 3. were somewhat stable
U.S. nursing facilities in 2006
1. were unstable
2. varied widely from state to state
3. were somewhat stable
4. were unchanged from 89 years
earlier
Generating reports on the financial 1. the accountant
standing of the nursing facility is
generally assigned to
1. the accountant
2. the director of finance
3. the administrative assistant
4. the chief financial officer (CFO)
Responsibility and blame for 4. administrator
overspending in the department of
nursing and in food services are
typically assigned by the owners to the
1. director of nursing and director of
food services
2. director of nursing and the dietitian
3. chief financial officer
4. administrator
, A set of records that lists each 1. the books
monetary transaction of the facility is
normally referred to as
1. the books
2. financial statements
3. monetary records
4. income and revenue statement
The primary purpose of the Generally 2. maximize comparability of financial statements of
Accepted Accounting Principles is to different organizations
1. guarantee honesty among providers
2. maximize comparability of financial
statements of different organizations
3. create a single view among financial
managers
4 . protect the owners
An owner who takes unrecorded cash 2. entity
from the facility's daily cash intake to
purchase a tablet for his daughter to
use at college has violated the __________
concept
1. consistency
2. entity
3. time period
4. objective evidence
Instructing the financial manager to 4. consistency
record assets at current market value
and to not record patient bills
expected to become uncollectible
violates the ________ concept
1. entity
2. good faith
3. time period
4. consistency
Questions and Answers 2026/2027
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (138)
The staff person responsible for 2. the administrator
ensuring that the business office runs
smoothly is, in the final analysis,
1. corporate finance director
2. the administrator
3. business office staff
4. facility treasurer
,In general, the ownership patterns for 3. were somewhat stable
U.S. nursing facilities in 2006
1. were unstable
2. varied widely from state to state
3. were somewhat stable
4. were unchanged from 89 years
earlier
Generating reports on the financial 1. the accountant
standing of the nursing facility is
generally assigned to
1. the accountant
2. the director of finance
3. the administrative assistant
4. the chief financial officer (CFO)
Responsibility and blame for 4. administrator
overspending in the department of
nursing and in food services are
typically assigned by the owners to the
1. director of nursing and director of
food services
2. director of nursing and the dietitian
3. chief financial officer
4. administrator
, A set of records that lists each 1. the books
monetary transaction of the facility is
normally referred to as
1. the books
2. financial statements
3. monetary records
4. income and revenue statement
The primary purpose of the Generally 2. maximize comparability of financial statements of
Accepted Accounting Principles is to different organizations
1. guarantee honesty among providers
2. maximize comparability of financial
statements of different organizations
3. create a single view among financial
managers
4 . protect the owners
An owner who takes unrecorded cash 2. entity
from the facility's daily cash intake to
purchase a tablet for his daughter to
use at college has violated the __________
concept
1. consistency
2. entity
3. time period
4. objective evidence
Instructing the financial manager to 4. consistency
record assets at current market value
and to not record patient bills
expected to become uncollectible
violates the ________ concept
1. entity
2. good faith
3. time period
4. consistency
