HSM 340 weekly quiz

 Week 2 questions

 

1. 

Question :

(TCO 2) A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an):

 

2. 

Question :

(TCO 2) Which method(s) of financial reporting does (do) not recognize the impact of changes in purchasing power?

 

3. 

Question :

(TCO 2) _____ is the most important financial metric to review to determine long-term financial viability.

4. 

Question :

(TCO 2) What is/(are) the primary determinant(s) of firm value?

 

5. 

Question :

(TCO 2) What are the major reasons for accrual accounting?

 

6. 

Question :

(TCO 2) What is an accounting entity?

 

7. 

Question :

(TCO 2) What three pieces of information are needed to convert nominal dollars to constant dollars?

8. 

Question :

(TCO 2) Define and describe the purpose of fund accounting (now called net assets).

 

week 3 questions

 1. 

Question :

(TCO 3) When considering how changes in volume affect total fixed costs, it is important to consider:

 2. 

Question :

(TCO 3) To maximize the amount of profit realized from a rate increase, charges should be increased most in departments with:

 3. 

Question :

shots. Fewer people than expected showed up and purchased the flu shot. The clinic would:

(TCO 3) Assume that the clinic used the price that they need to exactly break even at

10,000

 4. 

Question :

(TCO 3) What is the main reason that relative value units (RVUs) often are used in health care?

 

5. (TCO 3) David Jones, the new administrator for a surgical clinic, was trying to determine how to allocate his indirect expenses. His staff was complaining that the current method of taking a percentage of revenues was unfair. He decided to try to allocate utilities based on square footage of each department, administration based on direct costs, and laboratory based on tests. Use the information in the chart below to answer the question.

 

 

 

 

,000

 

2,000

 

500

1,500

500

10,000

5,000

Square Footage

Direct Expenses

Lab Tests

Utilities

200,000

Administration

2,000

500

Laboratory

62

5,000

Day-op Suite

3,000

1,400,000

4,000

Cystoscopy

1,500

350,000

Endoscopy

300,000

Total

3,375,000

Based on the scenario above, what are the Cystoscopy Department’s total expenses?

 6. 

Question :

(TCO 3) Your hospital has been approached by a major HMO to perform all their MS-DRG 470 cases (major joint procedures). They have offered a flat price of $10,000 per case. You have reviewed your charges for MS-DRG 470 during the last year and found the following profile:

Average Charge$15,000 Average LOS5 Days Routine Charge$3,600Cost/Charge 0.80Variable Cost % 60Operating Room2,6570.8080Anesthesiology2930.8080Lab1,0350.7030Radiology3450.7550Medical Supplies4,5240.5090Pharmacy1,2300.5090Other Ancillary1,3160.8060Total Ancillary$11,4000.7550

Estimate the variable cost per MS-DRG 470 using the departmental cost/charge ratios and variable cost percentages.

 7. 

Question :

(TCO 3) How are costs classified?

 8. 

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