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HMGT 3311 EXAM 1, HMGT 3311
EXAM II REVIEW, HMGT 3311 TEST 1,
HMGT 3311 FINAL EXAM AND HMGT
3311 - TEST 2 2026 QUESTIONS AND
ANSWERS| ACE YOUR GRADES.
3 ways to obtain funds - correct answer -1- borrowed( liability)
2- donations or stockholders ( equity)
3- earns profit and uses profit ( equity)
Accounts Receivable - correct answer -The total amount of
money owed to a business. the riskiest areas on the balance
sheet
Accounts Payable - correct answer -Amounts to be paid in the
future for goods or services already acquired. a liability
Liabilities - correct answer -debts that you owe
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Net Assets, not-for-profit - correct answer -Assets - Liabilities
Stockholders' Equity, for profit - correct answer -common stock
and retained earnings
Statement of Operations - correct answer -income statement
Statement of Cash Flows - correct answer -A financial statement
that provides financial information about the cash receipts and
cash payments of a business for a specific period of time.
Accrual Basis - correct answer -an accounting method in which
revenue is recorded when a sale is made and an expense is
recorded when it is incurred
cash basis - correct answer -an accounting method in which
revenue is recorded when payment is received and an expense is
recorded when cash is paid
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value-based pricing - correct answer -a method of setting prices
based on customer perceptions of value
Accountable Care Organization (ACO) - correct answer -An
organization of healthcare providers accountable for the quality,
cost, and overall care of Medicare beneficiaries who are assigned
and enrolled in the traditional fee-for-service program, voluntary
Medicare - correct answer -A federal program of health insurance
for persons 65 years of age and older
Medicad - correct answer -the government insurance program for
low-income individuals & familys that is funded both by the federal
government & each individual state
Medicare Part A (aka Hospital Insurance or HI) - correct answer -
Provides hospital insurance automatically @ age 65 (if FICA
qualified) @ no fee but may have deductible & co-pay.
Medicare Part B - correct answer -The part of the Medicare
program that pays for physician services, outpatient hospital
HMGT 3311 EXAM 1, HMGT 3311
EXAM II REVIEW, HMGT 3311 TEST 1,
HMGT 3311 FINAL EXAM AND HMGT
3311 - TEST 2 2026 QUESTIONS AND
ANSWERS| ACE YOUR GRADES.
3 ways to obtain funds - correct answer -1- borrowed( liability)
2- donations or stockholders ( equity)
3- earns profit and uses profit ( equity)
Accounts Receivable - correct answer -The total amount of
money owed to a business. the riskiest areas on the balance
sheet
Accounts Payable - correct answer -Amounts to be paid in the
future for goods or services already acquired. a liability
Liabilities - correct answer -debts that you owe
, Page | 2
Net Assets, not-for-profit - correct answer -Assets - Liabilities
Stockholders' Equity, for profit - correct answer -common stock
and retained earnings
Statement of Operations - correct answer -income statement
Statement of Cash Flows - correct answer -A financial statement
that provides financial information about the cash receipts and
cash payments of a business for a specific period of time.
Accrual Basis - correct answer -an accounting method in which
revenue is recorded when a sale is made and an expense is
recorded when it is incurred
cash basis - correct answer -an accounting method in which
revenue is recorded when payment is received and an expense is
recorded when cash is paid
, Page | 3
value-based pricing - correct answer -a method of setting prices
based on customer perceptions of value
Accountable Care Organization (ACO) - correct answer -An
organization of healthcare providers accountable for the quality,
cost, and overall care of Medicare beneficiaries who are assigned
and enrolled in the traditional fee-for-service program, voluntary
Medicare - correct answer -A federal program of health insurance
for persons 65 years of age and older
Medicad - correct answer -the government insurance program for
low-income individuals & familys that is funded both by the federal
government & each individual state
Medicare Part A (aka Hospital Insurance or HI) - correct answer -
Provides hospital insurance automatically @ age 65 (if FICA
qualified) @ no fee but may have deductible & co-pay.
Medicare Part B - correct answer -The part of the Medicare
program that pays for physician services, outpatient hospital
