NAB RCAL 2024 Exam Questions With Correct Answers!!

Breakeven Point? - Answer-total cost = total revenue Working capital ratio - Answer-current assets / current liabilities Acid-test (quick) ratio - Answer-(cash + AR + short-term investments) / current liabilities debt to assets ratio - Answer-total liabilities/total assets FTE (full time equivalent) - Answer-total number of hours per employee in a week / 40 (i.e. 12+14+40+30 div. by 40) Profit margin - Answer-NOI/Tot. Revenue. Defined as "income to sales. 2 types, gross prof margin and net prof margin) Net Operating Income (NOI) - Answer-Total (gross) Revenue - operating expenses Occupancy rate - Answer-(# of resident days/facility beds) x 365 HCS - Answer-Hazard Communication Standard. OSHA standard requiring employers to inform workers of potentially hazardous chemicals. Balance sheet formula - Answer-Assets = Liabilities + Shareholders Equity EBITDA - Answer-Earnings before interest, taxes, depreciation, and amortization Amortization - Answer-the reduction of a loan balance through payments made over a period of time revenue cycle management - Answer-resident needs->service planning->staffing->billing/collections- >FICA SS Tax and Medicare Tax - Answer-6.2% and 1.45% 4 elements of a valid contract - Answer-agreement, consideration, contractual capacity, legality (in writing) "ACCL" Liability insurance usually covers.. - Answer-Bodily injury and property damage Lock out tag out - Answer-For all electrical equipment safe electrical practices - Answer-National Electrical Code or NEC Following NFPA Life Safety Code - Answer-fire plan, regular fire drills, detectors, training on procedure, non combustable furnishing/draperies Extinguisher class A - Answer-ordinary combustibles such as wood/paper Extinguisher Class B - Answer-For flammable liquids and gas fires (grease, paint) Extinguisher class C - Answer-Live electrical equipment (panelling) Extinguisher class D - Answer-Combustable metals (aluminum) Extinguisher class K - Answer-Commercial cooking equipment (cooking oil, animal fats) PASS (Fire Safety) - Answer-P - Pull the pin. A - Aim at the base of the fire, not at the flames. S - Squeeze the lever. S - Sweep the nozzle from side to side.R.A.C.E. (Fire safety) - Answer-rescue, alarm, contain, extinguish Accrual Basis Accounting - Answer-reporting income when it is earned and expenses when they are incurred Cash Basis Accounting - Answer-Reporting income when the cash is received and expenses when the cash is paid. LLC (Limited Liability Company) - Answer-Limited liability, pass through income taxation, flexibility