Question: Question 1 2 ( 2 points ) In maximizing profits, there is always a trade - off with risk. The greater the risk we must
Question points In maximizing profits, there is always a tradeoff with risk. The greater the risk we must incur, the the anticipated profit or return on our money we demand. Question options: Lesser Greater Equal Faster Question points True or false: The most common liabilities are money owed to suppliers, employees, financial institutions and bondholders. Question options: True False Question points Which of the following might be reasons a notforprofit healthcare organization would use fund accounting? Question options: To track a donorrestricted contribution to ensure the money is used in accordance with donor's intent To track a grant from a funder to ensure the money is used in accordance with funder's intent All of the above Question points is the concept which states that expenses should be recorded in the same accounting period as the revenues they were responsible for generating. Question options: Consistency Matching Materiality Going concern Question points True or false: A fund is an accounting entity with its own separate set of financial records. A single healthcare organization can have a number of different funds. Question options: True False Question points TrueFalse: Profit maximization is the primary goal of healthcare organizations Question options: True False Question pointsis the concept where financial statements are prepared based on the assumption that the organization will remain in business for the foreseeable future. Question options: Cost Objective evidence Materiality Going concern Question points A is an example of asset with economic value that can help a healthcare organization provide healthcare to its patients, either directly or indirectly. Question options: Magnetic Resonance Imaging MRI machine Salaries owed to nurses Taxes due to state authorities Mortgage owed to the bank for a hospital building Question points True or false: Although a hospital charges the same for XRay services to its patients, the payment it receives will differ based upon a patients insurance. Question options: True False
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
