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HSM440 quiz 3 question




Question;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);Income statement;Statement of retained earnings;Balance sheet;Statement of cash flows;Report of management;2. | Question: | (TCO 2) Which method(s) of financial reporting does (do);not recognize the impact of changes in purchasing power?;HC;HC-GPL;CV;CV-GPL;Both A and C;B and D;A and B;3.;Question: | (TCO 2) The _____ is a;way for organizations to improve the collection and communication of financial;and operating information.;Performance dashboard;Financial bottom-line;Holistic perspective;Performance perspective;4. | Question: | (TCO 2) What should be a firm's primary long-term financial;objective?;Profit growth;Debt growth;Asset growth;Equity growth;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) The HC method, which uses unadjusted historical;costs, does not take into account depreciation expenses, purchasing power, and;unrealized gains in replacement value. Despite these weaknesses as a financial;reporting method, the HC method is used more frequently for accounting purposes;than other methods, such as the HC-GPL, CV, and CV-GPL methods. Why is this so?;8. | Question: | (TCO 2) What is the basic accounting equation?;Q 1. | Question;(TCO 3) The breakeven point;occurs where;total fixed costs;and total revenue intersect;total costs and total revenue intersect;total profit margin and total costs intersect;total variable costs and total revenue;intersect;total revenue outpaces total avoidable fixed;costs;2. | Question: | (TCO 3) Increasing marginal volume for cost payers makes;economic sense if;Cost payers account for 100 percent of your present volume and fixed;costs are high.;Bad debts are low.;Fixed costs are high and present cost payer;volume is small.;All of the above.;3.;Question: | (TCO 3) Your;controller has told you that the marginal profit of DRG 209 (major joint;procedure) for a Medicare patient exceeds the marginal profit for an average;charge patient. Why might this occur?;High fixed costs of treatment;Low Medicare payment;High prices;Low prices;4.;Question: | (TCO 3) Estimate the;total variable cost (i.e., including both routine and ancillary) per MSDRG 505;using the departmental cost/charge ratios and variable cost percentages. (Your;answer might be slightly different due to rounding. Pick the closest.);$5,213;$3,892;$7,613;$5,452;$8,070;5.;Question: | (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. | Square Footage | Direct Expenses;Lab Tests;Utilities;200,000;Administration | 2,000 | 500,000;Laboratory;2,000 | 625,000;Day-op Suite;3,000 | 1,400,000 | 4,000;Cystoscopy;1,500 | 350,000 | 500;Endoscopy;1,500 | 300,000 | 500;Total | 10,000 | 3,375,000 | 5,000;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 LOS | 5;Days;Routine Charge| $3,600 | Cost/Charge 0.80 | Variable Cost % 60;Operating Room;2,657 | 0.80 | 80;Anesthesiology| 293 | 0.80;80;Lab | 1,035 | 0.70;30;Radiology;345 | 0.75 | 50;Medical Supplies;4,524 | 0.50 | 90;Pharmacy;1,230 | 0.50 | 90;Other Ancillary;1,316 | 0.80 | 60;Total Ancillary;$11,400 | 0.75 | 50;Estimate the variable cost per MS-DRG 470 using the;departmental cost/charge ratios and variable cost percentages.;7. | Question: | (TCO 3) What is the break-even equation and discuss the;break-even equation?


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