nab practice exam questions
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1. In a resident care assisted living (RCAL) organization, durable medical equip-
ment is a covered benefit of Medicare Part:: B
2. The operating budget is used throughout the fiscal year to measure per-
formance in a resident care assisted living (RCAL) community by an analysis
technique known as:: Variance
3. The concept of aging-in-place allows an individual to receive care and services
in one setting for as long as is feasible. Which of the following is a factor that
determines the community's ability to allow residents to age-in-place?:
4. The concept of aging-in-place allows an individual to receive care and services
in one setting for as long as is feasible. Which of the following is a factor
that determines the community's ability to allow residents to age-in-place?: State
regulatory requirements
5. The principal value in maintaining an operating budget is its application as:: an
instrument of ongoing evaluation and control.
6. The operating budget has two key parts:: the expense budget and the revenue budget.
7. As a managerial tool, the operating budget is used throughout the fiscal year
to: measure performance.
8. If a health care organization has a current ratio greater than 1, which of the
following statements is most likely true?: It will be able to pay its bills on time.
9. A current ratio greater than 1 means that the organization's current assets: -
exceed its current liabilities,
10. current ratio greater than 1 means that the organization's current assets
exceed its current liabilities, which indicates that the business will likely have
the ability to pay short-term liabilities as they come due. Such a favorable
liquidity position also makes the organization: more likely to qualify for a loan.
11. If the health care organization's occupancy increases from 94% to 98%, the
fixed cost per care recipient:: decreases slightly.
12. Fixed cost per resident is calculated by dividing total fixed costs by: number of
residents (which is calculated by currently occupied beds)
13. If the occupancy rate increases slightly, fixed costs: fixed costs do not change (by
definition),
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14. so when the number of residents increases, it results in a _________fixed cost
per resident.: decreased
15. A salaried employed is a ______ cost because they will be paid the same
amount regardless of care recipient load, census, hours worked, etc.: fixed
16. current ratio is calculated by dividing current assets by __________
Therefore, the higher the current ratio, the more effective the facility will be in
____________________: current liabilities
meeting its current liabilities.
17. Under the accrual basis of accounting, revenues are recorded when ____ and
expenses are recorded when ____.: revenues are earned, expenses are incurred
18. Which financial document contains cash flows from operating, investing,
and financing activities as well as acts as kind of corporate checkbook?: Cash Flow
Statement
19. the balance sheet gives a one-time snapshot of a company's _____________
and the income statement indicates the business's profitability during _______,
the cash flow statement acts as a kind of corporate checkbook that reconciles
the __ & __: assets and liabilities,
a certain period
balance sheet & income statement
20. A generally accepted accounting principle (GAAP) would be violated if a
health care organization used an optimistic estimate of the current market
value of its building in its balance sheet. T or F: True
21. A cash budget is an estimate of the:: Cash inflows and outflows for the fiscal year.
22. cash budget helps to project if the organization will have: adequate cash to meet their
projected operational requirements
23. The technique by which operating budgets are used throughout the fiscal
year to measure performance is known as:: Variance analysis.
, nab practice exam questions
Study online at https://quizlet.com/_fdurku
24. When a supplier receives money for goods and services provided on credit,
the offsetting debit entry is made to:: Accounts payable.
25. a company's short-term obligations owed to its creditors or suppliers, which
have not yet been paid.: Accounts payable (AP) or 'payables'
26. Accounts payable appear on a company's balance sheet as: a current liability.
27. Profits or losses during a given time period are reflected on which financial
document?: Income statement
28. the financial report that summarizes the revenues, expenses, and costs that
are incurred during a specified period of time,: 'Income Statement' or 'Profit and Loss (P&L)
Statement'
29. statements that are often used to assess the financial health of the organi-
zation.: 'Income Statement' or 'Profit and Loss (P&L) Statement'
30. a state medical assistance program for persons who are indigent.: medicaid
31. program managed under federal requirements, managed by the different
state regulatory agencies around the country. Funding is provided by both state
and federal governments.: medicaid
32. intended to assist the hospice patient with pain control and symptom man-
agement in a facility when those needs cannot be managed in other settings.
The care is intended to be short-term and overseen by nurses throughout the
day.: General Inpatient
33. Which of the following levels of hospice care consists of providing short-term
pain or symptom management in a facility that more suited for higher acuity
needs?: general inpatient
34. four distinct levels of hospice care, as defined by Medicare.: Routine Home Care,
Respite Care,
Continuous Home Care,
General Inpatient Care.
35. The resident _____should guide the plan of care and services above all other
considerations.: preference
36. The philosophy that drives all aspects of RC/AL and the services it provides
should be most apparent in the:: identification of resident preferences.
Study online at https://quizlet.com/_fdurku
1. In a resident care assisted living (RCAL) organization, durable medical equip-
ment is a covered benefit of Medicare Part:: B
2. The operating budget is used throughout the fiscal year to measure per-
formance in a resident care assisted living (RCAL) community by an analysis
technique known as:: Variance
3. The concept of aging-in-place allows an individual to receive care and services
in one setting for as long as is feasible. Which of the following is a factor that
determines the community's ability to allow residents to age-in-place?:
4. The concept of aging-in-place allows an individual to receive care and services
in one setting for as long as is feasible. Which of the following is a factor
that determines the community's ability to allow residents to age-in-place?: State
regulatory requirements
5. The principal value in maintaining an operating budget is its application as:: an
instrument of ongoing evaluation and control.
6. The operating budget has two key parts:: the expense budget and the revenue budget.
7. As a managerial tool, the operating budget is used throughout the fiscal year
to: measure performance.
8. If a health care organization has a current ratio greater than 1, which of the
following statements is most likely true?: It will be able to pay its bills on time.
9. A current ratio greater than 1 means that the organization's current assets: -
exceed its current liabilities,
10. current ratio greater than 1 means that the organization's current assets
exceed its current liabilities, which indicates that the business will likely have
the ability to pay short-term liabilities as they come due. Such a favorable
liquidity position also makes the organization: more likely to qualify for a loan.
11. If the health care organization's occupancy increases from 94% to 98%, the
fixed cost per care recipient:: decreases slightly.
12. Fixed cost per resident is calculated by dividing total fixed costs by: number of
residents (which is calculated by currently occupied beds)
13. If the occupancy rate increases slightly, fixed costs: fixed costs do not change (by
definition),
, nab practice exam questions
Study online at https://quizlet.com/_fdurku
14. so when the number of residents increases, it results in a _________fixed cost
per resident.: decreased
15. A salaried employed is a ______ cost because they will be paid the same
amount regardless of care recipient load, census, hours worked, etc.: fixed
16. current ratio is calculated by dividing current assets by __________
Therefore, the higher the current ratio, the more effective the facility will be in
____________________: current liabilities
meeting its current liabilities.
17. Under the accrual basis of accounting, revenues are recorded when ____ and
expenses are recorded when ____.: revenues are earned, expenses are incurred
18. Which financial document contains cash flows from operating, investing,
and financing activities as well as acts as kind of corporate checkbook?: Cash Flow
Statement
19. the balance sheet gives a one-time snapshot of a company's _____________
and the income statement indicates the business's profitability during _______,
the cash flow statement acts as a kind of corporate checkbook that reconciles
the __ & __: assets and liabilities,
a certain period
balance sheet & income statement
20. A generally accepted accounting principle (GAAP) would be violated if a
health care organization used an optimistic estimate of the current market
value of its building in its balance sheet. T or F: True
21. A cash budget is an estimate of the:: Cash inflows and outflows for the fiscal year.
22. cash budget helps to project if the organization will have: adequate cash to meet their
projected operational requirements
23. The technique by which operating budgets are used throughout the fiscal
year to measure performance is known as:: Variance analysis.
, nab practice exam questions
Study online at https://quizlet.com/_fdurku
24. When a supplier receives money for goods and services provided on credit,
the offsetting debit entry is made to:: Accounts payable.
25. a company's short-term obligations owed to its creditors or suppliers, which
have not yet been paid.: Accounts payable (AP) or 'payables'
26. Accounts payable appear on a company's balance sheet as: a current liability.
27. Profits or losses during a given time period are reflected on which financial
document?: Income statement
28. the financial report that summarizes the revenues, expenses, and costs that
are incurred during a specified period of time,: 'Income Statement' or 'Profit and Loss (P&L)
Statement'
29. statements that are often used to assess the financial health of the organi-
zation.: 'Income Statement' or 'Profit and Loss (P&L) Statement'
30. a state medical assistance program for persons who are indigent.: medicaid
31. program managed under federal requirements, managed by the different
state regulatory agencies around the country. Funding is provided by both state
and federal governments.: medicaid
32. intended to assist the hospice patient with pain control and symptom man-
agement in a facility when those needs cannot be managed in other settings.
The care is intended to be short-term and overseen by nurses throughout the
day.: General Inpatient
33. Which of the following levels of hospice care consists of providing short-term
pain or symptom management in a facility that more suited for higher acuity
needs?: general inpatient
34. four distinct levels of hospice care, as defined by Medicare.: Routine Home Care,
Respite Care,
Continuous Home Care,
General Inpatient Care.
35. The resident _____should guide the plan of care and services above all other
considerations.: preference
36. The philosophy that drives all aspects of RC/AL and the services it provides
should be most apparent in the:: identification of resident preferences.
