NAB Financial Management Section Practice Exam
Questions and answers latest Updates!!!!
In reality, the one person generally held accountable for the financial operation of the nursing facility is
the:
1) owner(s)
2) administrator
3) governing board
4) auditor - ANSWERS💫✔️-2
It is normally the _____ who records the daily cash transactions of the facility
1) accountant
2) financial director
3) bookkeeper
4) financial secretary - ANSWERS💫✔️-3
Generating reports on the financial standing of the nursing facility is generally assigned to:
1) the accountant
2) the director of finance
3) the administrative assistant
4) chief financial officer (CFO) - ANSWERS💫✔️-1
Responsibility and blame for overspending in the department of nursing and in food services is typically
assigned by the owners to the:
1) director of nursing and director of food services
2) director of nursing and the dietitian
3) chief financial officer
4) administrator - ANSWERS💫✔️-4
, Directing the accountant to move from a January 1 fiscal year date to a June 30 fiscal year date in order
to minimize the negative image possibly created by an anticipated loss violates the _____ concept
1) ongoing concern
2) time period
3) conservation
4) entity - ANSWERS💫✔️-2
Allowing the bookkeeper to destroy vouchers showing payments made for meals to employees once
these are recorded may violate the _____ concept
1) objective evidence
2) consistency
3) time period
4) entity - ANSWERS💫✔️-1
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:
1) paper trail
2) source documents
3) bill of lading
4) records - ANSWERS💫✔️-2
A 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
1) cash
2) simplified
3) no-fault
4) accrual - ANSWERS💫✔️-1
It is difficult to recognize items such as depreciation and pre-paid insurance in the _____ system of
accounting
Questions and answers latest Updates!!!!
In reality, the one person generally held accountable for the financial operation of the nursing facility is
the:
1) owner(s)
2) administrator
3) governing board
4) auditor - ANSWERS💫✔️-2
It is normally the _____ who records the daily cash transactions of the facility
1) accountant
2) financial director
3) bookkeeper
4) financial secretary - ANSWERS💫✔️-3
Generating reports on the financial standing of the nursing facility is generally assigned to:
1) the accountant
2) the director of finance
3) the administrative assistant
4) chief financial officer (CFO) - ANSWERS💫✔️-1
Responsibility and blame for overspending in the department of nursing and in food services is typically
assigned by the owners to the:
1) director of nursing and director of food services
2) director of nursing and the dietitian
3) chief financial officer
4) administrator - ANSWERS💫✔️-4
, Directing the accountant to move from a January 1 fiscal year date to a June 30 fiscal year date in order
to minimize the negative image possibly created by an anticipated loss violates the _____ concept
1) ongoing concern
2) time period
3) conservation
4) entity - ANSWERS💫✔️-2
Allowing the bookkeeper to destroy vouchers showing payments made for meals to employees once
these are recorded may violate the _____ concept
1) objective evidence
2) consistency
3) time period
4) entity - ANSWERS💫✔️-1
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:
1) paper trail
2) source documents
3) bill of lading
4) records - ANSWERS💫✔️-2
A 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
1) cash
2) simplified
3) no-fault
4) accrual - ANSWERS💫✔️-1
It is difficult to recognize items such as depreciation and pre-paid insurance in the _____ system of
accounting
