Question: Question 1 ( 2 points ) _ _ _ _ _ _ _ _ _ _ _ _ and _ _ _ _ _ _

Question 1(2 points)____________ and _______________ are the goals of financial management. Question 1 options: Planning, monitoring Profitability, viability Profitability, monitoring Planning, viability Question 2(2 points)_______________ is the difference between a healthcare providers stated charge and the payment agreed to with a third-party payer (such as an insurance company). Question 2 options: Contractual allowance Discount Gross price Explanation of benefits Question 3(2 points) True or false: In for-profit organizations, equity represents an organizations net worth or value to its owners. Question 3 options: True False Question 4(2 points) True or false: The entity concept tells us that we should not commingle resources of one entity with another entitys resources. Question 4 options: True False Question 5(2 points) Viability is measured in terms of __________ and _____________. Question 5 options: profitability, solvency profitability, liquidity liquidity, solvency risk, return Question 6(2 points)___________ is the concept which states that in reporting the financial positions of the organization, sufficient consideration should be given to the various risks the organization faces. Question 6 options: Matching Cost Objective Evidence Conservatism Question 7(2 points) True or false: For not-for-profit organizations, the accounting equation is as follows: Assets = Liabilities + Owners Equity Question 7 options: True False Question 8(2 points) True or false: An organization is liquid if it has enough near-term resources to meet its long-term obligations as they become due for payment. Question 8 options: True False Question 9(2 points) True or false: The more liquid an organization is kept, the lower the profits. Question 9 options: True False Question 10(2 points) The ____________ concept states that financial reports should disclose any information needed to ensure that the reports are a fair representation. Question 10 options: Materiality Entity Full Disclosure Going Concern Question 11(2 points) Net assets __________ might limit when or how an organization uses the donation, or it might prevent the organization from ever consuming the donation and limit it to consuming earnings from investments acquired with the donated money. Question 11 options: Without Restrictions With Endowment Restrictions With Restrictions With Permanent Restrictions

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!