Answer Options:
True
\nFalse
Answer: False
Question: True or False? In some organizations, the chief operating officer (COO) and chief financial officer (CFO) may be the same person.
Answer Options:
True
\nFalse
Answer: True
Question: True or False? Charges and actual prices refer to the same phenomenon in health care organizations.
Answer Options:
True
\nFalse
Answer: False
Question: True or False? Payments to providers/hospitals from insurance companies are generally paid within a day or two.
Answer Options:
True
\nFalse
Answer: False
Question: When it comes to capital budgeting, capital budgets typically take into consideration all the following, except:
Answer Options:
A. the increase in employee satisfaction
\nB. an estimated useful life
\nC. funding amounts
\nD. depreciation expense
\nE. Capital budgets take all of these into consideration
Answer: A. the increase in employee satisfaction
Question: True or False? The Veterans Health Administration is one of the smallest health care systems in the U.S.
Answer Options:
True
\nFalse
Answer: False
Question: Medicare becomes the primary payer when a beneficiary also carries other health insurance.
Answer Options:
True
\nFalse
Answer: True
Question: True or False? A for-profit health care organization may participate in political campaigns and influence legislation.
Answer Options:
True
\nFalse
Answer: True
Question: The primary goal of managing accounts receivable is to:
Answer Options:
A. reduce the collection period for payment for services
\nB. increase the collateral for negotiating a line of credit with lenders
\nC. generate “good will” for the organization
\nD. collect revenue for investment opportunities
Answer: A. reduce the collection period for payment for services
Question: Individuals who have coverage under the Medicare Program include:
Answer Options:
A. elderly individuals younger than 65 years of age.
\nB. those with end-stage renal disease.
\nC. those who are temporarily disabled younger adults.
\nD. All of these are correct.
\nE. those with end-stage renal disease and permanently disabled younger adults.
Answer: D. All of these are correct
Question: True or False? For-profit health care organizations may issue stock to raise capital.
Answer Options:
True
\nFalse
Answer: True
Question: True or False? The end result of working capital management is to increase revenues and reduce expense.
Answer Options:
True
\nFalse
Answer: True
Question: Succession planning is:
Answer Options:
A. not planning a career path in an organization
\nB. a celebration of an organization’s success
\nC. not important to replace managers who retire or move on
\nD. an approach for anyone
\nE. None of these is correct
Answer: D. an approach for anyone
Question: True or False? ICD stands for Internal Classification of Diseases.
Answer Options:
True
\nFalse
Answer: False
Question: The primary goal of managing accounts receivable is to:
Answer Options:
A. generate “good will” for the organization
\nB. collect revenue for investment opportunities
\nC. reduce the collection period for payment for services
\nD. increase the collateral for negotiating a line of credit with lenders
Answer: B. collect revenue for investment opportunities
Question: True or False? The U.S. is currently using ICD-9 codes.
Answer Options:
True
\nFalse
Answer: False
Question: When it comes to capital budgeting, capital budgets typically take into consideration all the following, except:
Answer Options:
A. The increase in employee satisfaction
\nB. estimated useful life
\nC. funding amounts
\nD. depreciation expense
\nE. Capital budgets take all of these into consideration
Answer: A. The increase in employee satisfaction
Question: True or False? Government-owned health care organizations generally pay taxes on profits.
Answer Options:
True
\nFalse
Answer: False
Question: True or False? All states expanded their Medicaid Programs as part of the Affordable Care Act.
Answer Options:
True
\nFalse
Answer: False
Question: True or False? The Patient Protection and Affordable Care Act of 2010 called for changes that have had an impact on insurers, businesses, consumers, veterinarians, and health care providers.
Answer Options:
True
\nFalse
Answer: False
Question: Expansion of the Medicaid program was a major part of the Affordable Care Act.
Answer Options:
True
\nFalse
Answer: True