HCAD 760 MIDTERM LATEST EXAM ACTUAL
QUESTIONS AND CORRECT VERIFIED/DETAILED
ANSWERS|100% guaranteed PASS!|ALREADY
GRADED A+
1) policymaker or manager
2) type of healthcare organization - ANSWER-definition of healthcare finance
depends on the context of:
health care finance - ANSWER-the practice of finance, including both
accounting & financial management, within health services (provider)
organizations
accounting - ANSWER-measurement, in financial (dollar) terms, of events that
reflect the resources, operations, & financing of an organization; external
reports, taxes
financial management - ANSWER-theory, concepts, & tools necessary to help
managers make better financial decisions; internal, improves organization's
opportunities & efficiency
No, both capture, measure, & use data, but with different purpose - ANSWER-
accounting & financial mgmt independent?
1) obtains financing from marketplace
2) uses funds to buy assets
, 3) operates the assets to provide goods or services
4) sells goods or services to create revenue - ANSWER-characteristics of
business:
max shareholder return - ANSWER-goals of business (for profit)
max community or mission benefit - ANSWER-goals of pure charity
primary role of finance - ANSWER-to plan for, acquire, & utilize resources to
maximize the efficiency (& hence value) of the enterprise
1) planning & budgeting
2) financial reporting
3) capital investment decisions
4) financing decisions
5) working capital management
6) contract management
7) financial risk management - ANSWER-finance activities
Generally Accepted Accounting Principles - ANSWER-GAAP
1) Cost minimization
2) Cash sufficiency
3) Capital access
4) Control of financial resources - ANSWER-Four C's (summarize finance
activities)
QUESTIONS AND CORRECT VERIFIED/DETAILED
ANSWERS|100% guaranteed PASS!|ALREADY
GRADED A+
1) policymaker or manager
2) type of healthcare organization - ANSWER-definition of healthcare finance
depends on the context of:
health care finance - ANSWER-the practice of finance, including both
accounting & financial management, within health services (provider)
organizations
accounting - ANSWER-measurement, in financial (dollar) terms, of events that
reflect the resources, operations, & financing of an organization; external
reports, taxes
financial management - ANSWER-theory, concepts, & tools necessary to help
managers make better financial decisions; internal, improves organization's
opportunities & efficiency
No, both capture, measure, & use data, but with different purpose - ANSWER-
accounting & financial mgmt independent?
1) obtains financing from marketplace
2) uses funds to buy assets
, 3) operates the assets to provide goods or services
4) sells goods or services to create revenue - ANSWER-characteristics of
business:
max shareholder return - ANSWER-goals of business (for profit)
max community or mission benefit - ANSWER-goals of pure charity
primary role of finance - ANSWER-to plan for, acquire, & utilize resources to
maximize the efficiency (& hence value) of the enterprise
1) planning & budgeting
2) financial reporting
3) capital investment decisions
4) financing decisions
5) working capital management
6) contract management
7) financial risk management - ANSWER-finance activities
Generally Accepted Accounting Principles - ANSWER-GAAP
1) Cost minimization
2) Cash sufficiency
3) Capital access
4) Control of financial resources - ANSWER-Four C's (summarize finance
activities)
