HSM 340 Week 2 Quiz………DeVry

HSM 340 Quiz Week 2

(HSM 340 Health Services Finance- DeVry)

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) Which of the following is the BEST example of a financial metric?

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

5. Question: (TCO 2) How are revenues and expenses defined under accrual accounting?

6. Question: (TCO 2) What is an audit (in the context of financial accounting)?

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