MHA 706

MHA 706 MODULE 2 INCOME STATEMENT AND CHANGES IN EQUITY EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED Generally Accepted Accounting Principles (GAAP) are said to be compromised of assumptions, principles, and constraints. Going concern GAAP assumptions Expense Matching GAAP Principle Materiality GAAP constraint reports income from activities not related to "core" business of the organization. Non-operating Income is a measure of income generated from the "core...

MHA 706 MIDTERM QUIZ STUDY GUIDE EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED 2024/2025 The major provisions of the Patient Protection and Affordable care act of 2010 were? Medicaid expansion, banning of preexisting condition coverage limitations, free preventive care Which of the following statements about the finance department at large healthcare organizations is/are correct? The CFO usually is assisted by a comptroller and treasurer/reports directly to the CEO/headed by CF...

MHA706 MODULE 1 PART 1 QUIZ AND ANSWERS VERIFIED LATEST UPDATE The major provisions of the patient protection and affordable care act of 2010 were? Select one or more a. Banning of pre-existing condition, coverage limitation b. To reduce coverage for 10 essential health benefits. c. Free preventative care. d. Medicaid expansion. a,c,d which of the following statements about finance department at large healthcare organizations is correct? Select one or more a. The department is headed b...

MHA 706-M2 P1B EXAM QUESTIONS AND ANSWERS WITH VERIFIED SOLUTIONS GRADED A++ Expenses Resources used to create revenues, representing the costs of doing business. Operating Income Profitability measure focusing on patient service activities, a key element of the income statement. Non-Operating Income Income from activities not related to patient services, such as contributions and investment income. Net Income Overall economic profitability measure defined by GAAP, representing revenues ...

MHA 706-M1 P2A EXAM ACTUAL QUESTIONS AND ANSWERS VERIFIED 100% RATED Insurance Basics Fundamental principles of insurance including risk management and protection from financial loss Adverse Selection Situation where individuals with higher risk are more likely to purchase insurance Moral Hazard Risk of overuse of health services due to insured individuals not bearing full cost consequences Third-Party Payers Entities other than the patient who pay for healthcare services, such as insura...

MHA 706-M1 P2B EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED Fee-for-Service Payment tied to the amount of services provided Prospective Payment Fixed payment determined beforehand, unrelated to costs or charges Capitation Payment tied to the size of the covered population Provider Incentives Financial motivations impacting providers' behavior Medical Coding First step in the reimbursement process, performed based on clinicians' notes Chargemaster Facilitates accu...

MHA 706-M2 P2A EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS Balance Sheet Contains information about the assets, liabilities, and equity of a business, presenting its financial position at a specific point in time. Income Statement Provides information about a business's operations and profitability over a period. Assets Items owned by a business that possess or create economic benefits, such as cash, investments, and property. Liabilities Debts or obligations of a business that...

MHA 706-M2 P2B EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE Long-term Debt Debt financing with maturities greater than one year. Smaller businesses often obtain long-term credit from commercial banks. Larger businesses typically issue (sell) bonds. Equity Nonliability claims against a business's assets. Equity obligations are not fixed by contract. For investor-owned businesses, equity is the amount of owner-supplied financing. For not-for-profit businesses, e...

MHA 706 CHAPTER 1-5 QUIZZES EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED Which of the following statements about finance, accounting, and financial management is most correct? a) Accounting is of no value in decision making. b) Financing management is of no value in decision making. c) Financial management is just the reporting of past organizational activities. d) Financial management provides the theory, concepts, and tools necessary to help managers make better financial...

MHA 706: MODULE 3 EXAM QUESTIONS AND ANSWERS VERIFIED 100% GUARANTEED A++ GRADE liquidity ratio Days Cash on Hand (DCOH) example of: debt management ratio assesses if the business using the right mix of debt and equity profitability ratio assesses if the business is generating sufficient profits asset management ratio assesses if the business have the right amount of assets for its patient volume liquidity ratio assesses if the business can meet its cash obligations percentage change ...