JMESI-US025 - Financial Management One: Concepts and Regulations Questions and Correct Answers

1




JMESI-US025 - Financial Management
One: Concepts and Regulations
Questions and Correct Answers

Question: What specific concept or mechanism focuses on the internal
uses of accounting information for decision making?
Answer: Managerial accounting


Question: What is used to report revenues and expenses of the
organization over a period of time?
Answer: Income statement


Question: What measure or term is used when a patient's length of stay
(LOS) is either atypically long or short?
Answer: Outlier


Question: The balance sheet presents the financial position of the
organization at a single point in time.
Answer: False


Question: What is the purpose of pricing clinical services?
Answer: Support maximum revenue to the institution and its physicians


Question: What is the primary source of funding for healthcare
organizations?
Answer: Operations and maintenance (O&M)


Question: What is the basic purpose of the Medical Expense and
Performance Reporting System (MEPRS)?
Answer: Operations and maintenance (O&M)



Pretest - Stuvia US