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The purpose of reporting a performance indicator is to make it easier to compare the results of operations of not-for-profit health care organizations to those of for-profit health care organizations.

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Multiple Choice. Choose the best answer.
The organization assigned primary responsibility for establishing accounting and financial reporting standards for health care organizations is the:
a. American Institute of CPAs (AICPA),
b. Financial Accounting Standards Board (FASB for for-profit and nongovernmental not-for-profit health care organizations.
c. Governmental Accounting Standards Board (GASB) for governmental health care organizations.
d. Both b and c are correct.
2. A not-for-profit hospital would present all of the following financial statements, except a:
a. Balance sheet or statement of financial position.
b. Statement of functional expenses.
c. Statement of operations.
d. Statement of cash flows.
3 of the following is a true statement regarding a performance indicator?
a. All health care organizations are required to report a performance indicator.
b. Only governmental health care organizations are required to report a performance indicator.
c. The purpose of reporting a performance indicator is to make it easier to compare the results of operations of not-for-profit health care organizations to those of for-profit health care organizations.
d. The purpose of reporting a performance indicator is to assist in evaluating the efficiency and effectiveness of a health care organization’s operating activities.
4. Which of the following is nor a correct statement about the statement of cash flows presented by a health care organization?
a. Governmental health care organizations must report cash flows from operating activities using the direct method.
b. For-profit and not-for-profit health care organizations may report cash flows from operating activities using either the direct or indirect method.
c. All health care organizations report acquisition of capital assets in the cash flows from investing activities section of the statement of cash flows.
d. All of the above are correct statements.
5. How should charity service be reported in the operating statement?
a. Receivables and revenues should hot be reported for these services.
b. Receivables and revenues should be reported at the regular self-pay amount.
c. Receivables and revenues should be reported at the regular self-pay amount, less the estimated cost of collection efforts.
d. None of the above.
6. Contractual adjustments are reported as:
a. Additions to the cost of providing medical services.
b. Reductions to receivables and revenue for medical services provided to insured patients.
c. Reductions to receivables and revenues for charity care medical services.
d. Contingent liabilities.
7. Assets that are set aside under a bond covenant for future debt service payments are reported by a not-for-profit health care organization as:
a. Assets limited as to use.
b. Temporarily restricted net assets.
c. Restricted for debt service.
d. Assets held by trustee.
8. Fees received by a hospital for medical record transcripts should be reported as:
a. Patient service revenue.
b. Administrative service revenue.
c. Other revenue.
d. Nonoperating gains.
9. A governmental health care organization, depending on its legal form, may be required to prepare which of the following financial statements?
a. Statement of revenues, expenses, and changes in net assets.
b. Statement of revenues, expenditures, and changes in fund balances.
c. Statement of cash flows.
d. All of the above.
10. Which of the following would be most useful for evaluating the financial liquidity of a not-for-profit health care organization?
a. Current ratio.
b. Debt-to-capitalization.
c. Capital expense.
d. Debt services coverage.