JMESI-US025 - Financial Management
One: Concepts and Regulations
What specific concept or mechanism focuses on the internal uses of accounting information
for decision making?
• CORRECT ANSWER – Managerial accounting
What is used to report revenues and expenses of the organization over a period of time?
• CORRECT ANSWER – Income statement
What measure or term is used when a patient's length of stay (LOS) is either atypically
long or short?
• CORRECT ANSWER – Outlier
The balance sheet presents the financial position of the organization at a single point in
time.
• CORRECT ANSWER – False
What is the purpose of pricing clinical services?
• CORRECT ANSWER – Support maximum revenue to the institution and its
physicians
What is the primary source of funding for healthcare organizations?
• CORRECT ANSWER – Operations and maintenance (O&M)
What is the basic purpose of the Medical Expense and Performance Reporting System
(MEPRS)?
• CORRECT ANSWER – Operations and maintenance (O&M)
The balance sheet presents the financial position of the organization at a single point in
time.
• CORRECT ANSWER – True
One: Concepts and Regulations
What specific concept or mechanism focuses on the internal uses of accounting information
for decision making?
• CORRECT ANSWER – Managerial accounting
What is used to report revenues and expenses of the organization over a period of time?
• CORRECT ANSWER – Income statement
What measure or term is used when a patient's length of stay (LOS) is either atypically
long or short?
• CORRECT ANSWER – Outlier
The balance sheet presents the financial position of the organization at a single point in
time.
• CORRECT ANSWER – False
What is the purpose of pricing clinical services?
• CORRECT ANSWER – Support maximum revenue to the institution and its
physicians
What is the primary source of funding for healthcare organizations?
• CORRECT ANSWER – Operations and maintenance (O&M)
What is the basic purpose of the Medical Expense and Performance Reporting System
(MEPRS)?
• CORRECT ANSWER – Operations and maintenance (O&M)
The balance sheet presents the financial position of the organization at a single point in
time.
• CORRECT ANSWER – True
