NAB Exam- (Everything that is needed to know) 2023 with 100% correct solutions

A line authority position is characterized by Decision making vested in the supervisor An example of line authority is Administrator Major schools of thought regarding source of authority are formal and subordinate acceptance The scope of authority in the operation of the nursing facility is greatest at which level Ownership Ultimate authority in a private corporate nursing facility is with the Board of directors Managerial authority is power to command, issue orders or exact action by subordinates Decentralized authority is characterized by process of delegating authority Centralized authority is vesting decision making in top managment Authority vested in a supervisory nurse is middle management authority Decision making authority is when a supervisor hires, fires and makes judgmental decisions Concepts of modern management recommend that an effective administrator will delegate operational authority Unity of command refers to reporting to one supervisor Which of the following forms of business is considered the oldest form of business sole proprietorship The term proprietorship as it relates to the nursing facility industry means privately owned The majority of nursing facility beds in the united states are owned by corporations Which of the following forms of ownership must have articles drawn up and reduced to writing? corporation Under which form of ownership would the administrator have the greatest latitude of authority and decision making? Sole proprietorship All but one are considered advantages of sole proprietorship Unlimited liability All but one are considered disadvantages of a partnership Retention of valuable employees A corporation is a legal entity created by law to carry on a business or profession Which one of the following forms of business ownership is considered the most important? Corporation A nonprofit corporation is one which makes a profit but returns it to the operation of business Pursuant to the Code of Federal Regulations, 42 CFR part 483, a facility wishing to participate in medicare must have a governing body The role of the governing body pursuant to the Code of Federal Regulation 42 CFR Part 483 is to establish and implement policies regarding management and operation of the facility The Code of Federal Regulations 42 CFR part 483 requires that the facility disclose officers, directors, agents, or management employees The role of the administrator in a modern nursing facility is to advise the governing body and carry out their decisions