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NAB Finance Exam Questions and Correct Answers What is working capital - Answer-the excess of current assets over current liability. The goal to decrease liabilities and increase assets The matching principle dictates what? - Answer-the principle of depreciation Acid-Test Ratio - Answer-the measure of a firm's ability to pay it's current liabilities a short period of time (immediately). The higher the ratio the better the company will be able to pay its bills on time. Quick Asse...

NAB Finance Study Test Questions with Correct Answers When most of the depreciation expense is taken in the first years, it is called: - Answer-accelerated depreciation A cost with both a fixed and variable cost component is called: - Answer-semi-variable cost The ____ includes both a revenue and expense budget: - Answer-the operating budget Operating revenues are monies received for services directly related to: - Answer-resident/patient care The ______ summarizes all debits and c...

NAB Finance Practice Test Questions and Answers All Correct Who requires accurate payroll and time records? - Answer-Wage and Hour Division Time records must be retained for __________. - Answer-2 years Payroll records must be retained for ____. - Answer-3 years Faciliites must retain date of birth for all employees under the age of _____. - Answer-19 Statutes allow employees to file claims regarding minimum wage and overtime for up to _________. - Answer-2 years Statutes alllow...

NAB Finance Test Questions with All Correct Answers What drives revenue? - Answer-Census What percent does Med A reimburse? - Answer-14% What program pays for 57% of stays? - Answer-Medicaid There is no federal reimbursement program for - Answer-ALF In most states, the Medicaid reimbursement level is - Answer-lower than the cost of care Number of nursing homes closed since beginning of the century? - Answer-700 One of the major factors affecting census in nursing homes? -...

NAB Finance Exam Questions and Correct Answers Already Passed When the employee is acting within the control or scope of the employer, the employer is responsible for the acts of the employee is ____. Select one: a. contractor b. strict liability c. sub-contractor d. borrowed servant - Answer-b. strict liability The Certified Public Accountant's end of year report for a 15-year-old 120-bed for-profit facility with no debt shows an excess of income over expenses of $95,000. The owners...

NAB Finance Questions And Answers 100% Verified 2024 Review Process of Financial Management - Correct Answer-process of ensureing materials and other resources are bought and used efficiently and economically; attain goals. Value of Financial Management - Correct Answer-Administrator has informatio to make decision and manage facility. Control device - measure performance against original plans. Administrator's role in Financial Mangement - Correct Answer-owners hold administrator respon...

NAB Finance

1. Process of Financial Management: process of ensureing materials and other resources are bought and used efficiently and economically; attain goals. 2. Value of Financial Management: Administrator has informatio to make decision and manage facility. Control device - measure performance against original plans. 3. Administrator's role in Financial Mangement: owners hold administrator responsible for proper financial management of facility. Varies according to type of ownership. chain organ...

NAB Finance with Correctly Answered Graded A+ Process of Financial Management process of ensureing materials and other resources are bought and used efficiently and economically; attain goals. Value of Financial Management Administrator has informatio to make decision and manage facility. Control device - measure performance against original plans. Administrator's role in Financial Mangement owners hold administrator responsible for proper financial management of facility. Varies accor...