BUSI 323 Week 6 Exam 3. Questions And Answers. Liberty University.Question 1
3 out of 3 points
Which of the following, with all of its faults, is the bas
... [Show More] is on which the accounting profession
has chosen to value assets and liabilities in most circumstances?
Selected Answer: C.
Historical cost valuation
Response Feedback: A-head: Principles of Accounting
Complexity: Moderate
Subject: Chapter 8
Question 2
3 out of 3 points
On the last day of the accounting period, a donor makes a permanently restricted donation of
$1 million. How would this transaction affect the financial statements that will be prepared
(vis-à-vis last period's statements)?
Selected
Answer:
A.
The balance sheet would be affected, and the statement of operations would
be unaffected.
Response Feedback: A-head: Statement of Operations (Revenues and Expenses)
Complexity: Moderate
Subject: Chapter 9
Question 3
3 out of 3 points
Which of the following represents an attempt to enhance the value of information and exploit
the capability of information technology to deliver true value to decision makers?
Selected Answer: D.
Balanced scorecards
Response Feedback: A-head: Real-World Scenario
Complexity: Moderate
Subject: Chapter 11
Question 4
3 out of 3 points
Which of the following provides detail on the organization's structure, accounting practices,
and financial standing?
Selected Answer: B.
Notes to the financial statements
Response Feedback: A-head: Real-World Scenario
Complexity: Moderate
Subject: Chapter 9
Question 5
3 out of 3 points
Which of the following is most directly related to strategic financial planning?
Selected Answer: A.
ROI
Response Feedback: A-head: Strategic Planning Process
Complexity: Moderate
Subject: Chapter 13
Question 6
3 out of 3 points
Growth in what industry is inextricably linked to government payment and regulatory policy?
Selected Answer: B.
Nursing homes
Response Feedback: A-head: Long-Term Care Facilities and Nursing Homes
Complexity: Moderate
Subject: Chapter 12
Question 7
3 out of 3 points
Which of the following measures the resource intensity of outpatient services by measuring
the number of paid HCPCS codes on each claim?
Selected Answer: B.
Service mix index
Response Feedback: A-head: Question Four: What Benchmarking Data Should Be Used?
Complexity: Difficult
Subject: Chapter 11
Question 8
3 out of 3 points
Which of the following is a fundamental premise of accounting that means that transactions of
a business enterprise are recognized during the period to which they relate, not necessarily
during the periods in which cash is received or paid?
Selected Answer: C.
Accrual accounting
Response Feedback: A-head: Principles of Accounting
Complexity: Moderate
Subject: Chapter 8
Question 9
3 out of 3 points
Rates of payment for what type of patients serve as an indirect method of controlling nursing
home capacity?
Selected Answer: B.
Medicaid patients
Response Feedback: A-head: Long-Term Care Facilities and Nursing Homes
Complexity: Easy
Subject: Chapter 12 [Show Less]