MHA 706 Module 1 Questions with Verified
Correct Answers
Healthcare Finance
is the practice of finance, including both accounting and financial management, within health
services (provider) organizations
Accounting
concerns the measurement, in financial (dollar) terms, of events that reflect the resources,
operations, and financing of an organization
Financial managment
provides the theory, concepts, and tools necessary to help managers make better financial
decisions
Business characteristics
-obtains financing from the marketplace
-uses the funds to buy assets
-operates the assets to provide goods or services
-sells the goods or services to create revenue
Pure Charity
refers to an undertaking for a charitable purpose only. The relief of poverty, advancement of
education, advancement of religion, promotion of health, the obtaining of good government,
and the accomplishment of that which is beneficial to the community in any other respect are
pure charities.
Correct Answers
Healthcare Finance
is the practice of finance, including both accounting and financial management, within health
services (provider) organizations
Accounting
concerns the measurement, in financial (dollar) terms, of events that reflect the resources,
operations, and financing of an organization
Financial managment
provides the theory, concepts, and tools necessary to help managers make better financial
decisions
Business characteristics
-obtains financing from the marketplace
-uses the funds to buy assets
-operates the assets to provide goods or services
-sells the goods or services to create revenue
Pure Charity
refers to an undertaking for a charitable purpose only. The relief of poverty, advancement of
education, advancement of religion, promotion of health, the obtaining of good government,
and the accomplishment of that which is beneficial to the community in any other respect are
pure charities.
