NAB: Finance Verified Exam Questions and Answers
2026/2027
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Terms in this set (113)
Home and Community-Based Services 3 types allowed by the government. Each program
Waiver Program grants the state permission to waive certain federal
requirements in order to operate a specific kind of
program. 2 affecting nursing homes:
1. Program Waivers
2. Research and Demonstration
Accounting a process that includes bookkeeping, budgeting,
financial reports, special studies, and designing
accounting systems
Assets things of value, things owned, such as cash,
equipment, real estate, and accounts receivable
,Current Asset cash or other short-lived assets, usually within a year
Fixed Asset buildings, land, equipment, LT basis; capital assets
Tangible Assets those with physical characteristics
Non-tangible Assets noncurrent, non-physical assets, including leaseholds,
copyrights, patents, and goodwill
Book Value the cost of a depreciable asset less accumulated
depreciation
Bookkeeping initial recording of business transactions
Capital a term embracing funds acquired from several
different sources. It includes funds invested, income
from sale of shares, a donation of cash or land, and
retained earnings
Investment Capital refers to the cash used to purchase real estate and
equipment and to construct the buildings in which the
business operates
Working Capital the excess of current assets over current liabilities; a
measure of the facility's ability to meet its obligations
, Capital Expenditures expenditures that increase the book value of facility
assets
Revenue Expenditures must be differentiated from capital expenditures;
immediately expensed out; they are recurring and
minor repairs that neither add to the quality of
serivce-rending abilities of the asset not extend its
estimated life
Earnings refer to generated revenue which is generally not
recognized until all activities to create it have been
completed
Gross Earnings refers to total revenues or income generated
Net Earnings revenues - expenses
Gross Profit equals the net sales less cost of goods sold
Operating Profit gross profit from sales less operating expenses
Dividends earnings distributed to stockholders
Retained Earnings accumulated net earnings less dividends
2026/2027
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (113)
Home and Community-Based Services 3 types allowed by the government. Each program
Waiver Program grants the state permission to waive certain federal
requirements in order to operate a specific kind of
program. 2 affecting nursing homes:
1. Program Waivers
2. Research and Demonstration
Accounting a process that includes bookkeeping, budgeting,
financial reports, special studies, and designing
accounting systems
Assets things of value, things owned, such as cash,
equipment, real estate, and accounts receivable
,Current Asset cash or other short-lived assets, usually within a year
Fixed Asset buildings, land, equipment, LT basis; capital assets
Tangible Assets those with physical characteristics
Non-tangible Assets noncurrent, non-physical assets, including leaseholds,
copyrights, patents, and goodwill
Book Value the cost of a depreciable asset less accumulated
depreciation
Bookkeeping initial recording of business transactions
Capital a term embracing funds acquired from several
different sources. It includes funds invested, income
from sale of shares, a donation of cash or land, and
retained earnings
Investment Capital refers to the cash used to purchase real estate and
equipment and to construct the buildings in which the
business operates
Working Capital the excess of current assets over current liabilities; a
measure of the facility's ability to meet its obligations
, Capital Expenditures expenditures that increase the book value of facility
assets
Revenue Expenditures must be differentiated from capital expenditures;
immediately expensed out; they are recurring and
minor repairs that neither add to the quality of
serivce-rending abilities of the asset not extend its
estimated life
Earnings refer to generated revenue which is generally not
recognized until all activities to create it have been
completed
Gross Earnings refers to total revenues or income generated
Net Earnings revenues - expenses
Gross Profit equals the net sales less cost of goods sold
Operating Profit gross profit from sales less operating expenses
Dividends earnings distributed to stockholders
Retained Earnings accumulated net earnings less dividends
