NAB FINANCIAL ACTUAL EXAM PAPER 2026
FULL QUESTIONS AND CORRECT ANSWERS
ALREADY PASSED
◉ In General, the ownership patterns for U.S. nursing facilities in
2006_______. Answer: were somewhat stable
◉ Generating reports on the financial standing of the nursing facility
is generally assigned to _____________. Answer: The Accountant
◉ Responsibility and blame for overspending in the department of
nursing and in food services are typically assigned by the owners to
the ____________ Answer: Administrator
◉ A set of records that lists each monetary transaction of the facility
is normally referred to as _________ Answer: the books
◉ The primary purpose of the Generally Accepted Accounting
Principles is to ___________. Answer: Maximize comparability of
financial statements of different organizations.
,◉ An owner who takes unrecorded cash from the facility's daily cash
intake to purchase a tablet for his daughter to use at college has
violated the _________ concept. Answer: entity
◉ Instructing the financial manager to record assets at current
market value and to not record patient bills expected to become
uncollectible violates the ________. Answer: consistency
◉ Telling the accountant not to record overtime paid from the cash
box to employees working weekends is violating the ________ concept.
Answer: Full Disclosure
◉ Directing the accountant to move from January 1st date to June 30
fiscal year date in order to minimize the negative image possibly
created by an anticipated loss violates the _________ concept. Answer:
Time Period
◉ Allowing the bookkeeper to destroy vouchers showing payments
made for meals to employees once these are recorded may violate
the _____ concept. Answer: objective evidence
◉ Pieces of paper indicating money owed to or by the facility, bank
statements, and similar pieces of paper or its electronic equivalent
are known as _____. Answer: source documents
, ◉ An administrator who instructs the accountant to begin reporting
facility finances by recording all expenditures and all receipts as
they actually occur has decided to use the _______ system of
accounting. Answer: cash
◉ It is difficult to recognize items such as depreciation and prepaid
insurance in the ______ system of accounting. Answer: cash
◉ An administrator directing the accountant to record revenues
when they are earned and expenses when they are incurred
regardless of the time the cash transaction takes place has decided
to use the ______ approach to accounting. Answer: accrual
◉ Allowing the facility to accurately measure revenues earned after
expenses have been paid or losses incurred by matching revenues
and expenses for each time period is the advantage of the _____
system of accounting. Answer: accrual
◉ A summary of the nursing Home's financial well-being within a
time period is normally referred to as _______ Answer: the financial
statements
◉ If the administrator asked the bookkeeper for a list containing
every account in the facility, the bookkeeper would hand the
administrator the _______ Answer: chart of accounts
FULL QUESTIONS AND CORRECT ANSWERS
ALREADY PASSED
◉ In General, the ownership patterns for U.S. nursing facilities in
2006_______. Answer: were somewhat stable
◉ Generating reports on the financial standing of the nursing facility
is generally assigned to _____________. Answer: The Accountant
◉ Responsibility and blame for overspending in the department of
nursing and in food services are typically assigned by the owners to
the ____________ Answer: Administrator
◉ A set of records that lists each monetary transaction of the facility
is normally referred to as _________ Answer: the books
◉ The primary purpose of the Generally Accepted Accounting
Principles is to ___________. Answer: Maximize comparability of
financial statements of different organizations.
,◉ An owner who takes unrecorded cash from the facility's daily cash
intake to purchase a tablet for his daughter to use at college has
violated the _________ concept. Answer: entity
◉ Instructing the financial manager to record assets at current
market value and to not record patient bills expected to become
uncollectible violates the ________. Answer: consistency
◉ Telling the accountant not to record overtime paid from the cash
box to employees working weekends is violating the ________ concept.
Answer: Full Disclosure
◉ Directing the accountant to move from January 1st date to June 30
fiscal year date in order to minimize the negative image possibly
created by an anticipated loss violates the _________ concept. Answer:
Time Period
◉ Allowing the bookkeeper to destroy vouchers showing payments
made for meals to employees once these are recorded may violate
the _____ concept. Answer: objective evidence
◉ Pieces of paper indicating money owed to or by the facility, bank
statements, and similar pieces of paper or its electronic equivalent
are known as _____. Answer: source documents
, ◉ An administrator who instructs the accountant to begin reporting
facility finances by recording all expenditures and all receipts as
they actually occur has decided to use the _______ system of
accounting. Answer: cash
◉ It is difficult to recognize items such as depreciation and prepaid
insurance in the ______ system of accounting. Answer: cash
◉ An administrator directing the accountant to record revenues
when they are earned and expenses when they are incurred
regardless of the time the cash transaction takes place has decided
to use the ______ approach to accounting. Answer: accrual
◉ Allowing the facility to accurately measure revenues earned after
expenses have been paid or losses incurred by matching revenues
and expenses for each time period is the advantage of the _____
system of accounting. Answer: accrual
◉ A summary of the nursing Home's financial well-being within a
time period is normally referred to as _______ Answer: the financial
statements
◉ If the administrator asked the bookkeeper for a list containing
every account in the facility, the bookkeeper would hand the
administrator the _______ Answer: chart of accounts
