Mac 7: Short CJ

Question 1

Found to be successful in educational establishments as well as in large government institutions.

• Projection method
• Flexible Budgeting
• Zero-based Budgeting
• None of the above

Answer 1

Zero-based Budgeting

Question 2

A calculation of the attractiveness of the average yield that will be earned over an investment.

• Internal Rate of Return
• Payback period
• Net Present Value
• Average Rate of Return (ARR)

Answer 2

Average Rate of Return

Question 3

Focuses on the laboratory’s long-term budgeting or goals

• Capital Budget
• Operational Budget
• Budget
• None of the above

Answer 3

Capital Budget

Question 4

Difficult to implement because of recruitment and retention problems

• Projection method
• Flexible Budgeting
• Zero-based Budgeting
• Flexible Budgeting

Answer 4

Flexible Budgeting

Question 5

Day-to-day accounting of needs and expenditures

• Projection method
• Flexible Budgeting
• Operational Budget
• Flexible Budgeting

Answer 5

Operational Budget

Question 6

This means that in order for the specific item to fall under capital budget, it should meet all the three criteria or else it will fall under supply expense.

• Definition of Capital Budget
• Tools for analyzing and making purchasing and project decisions
• Certificate of need requirements
• Parts and formats of capital budget

Answer 6

Definition of Capital Budget

Question 7

The decision in the budgeting process is affected by historical information and anticipated changes such as inflation or nature of the business.

• Projection method
• Flexible Budgeting
• Zero-based Budgeting
• Flexible Budgeting

Answer 7

Projection Method

Question 8

The decision in this budgeting process is affected by historical information and anticipated changes such as inflation or nature of the business.

• Projection method
• Flexible Budgeting
• Zero-based Budgeting
• Flexible Budgeting

Answer 8

Projection Method

Question 9

This is the comparison between the cash flow and the cost of capital factors with the amount of investment required.

• Payback Period
• Net Present Value
• Internal Rate of Return
• Average Rate of Return

Answer 9

Internal Rate of Return

Question 10

Determines how long it will take to recover cash outlays

• Payback Period
• Net Present Value
• Internal Rate of Return
• Average Rate of Return

Answer 10

Payback Period

Question 11

The purpose of this is to control spiraling medical costs, and to avoid duplication of services and the overbuilding of hospital beds

• Parts and formats of capital budget
• Certificate of need requirements
• Definition of capital budget
• Tools for analyzing and making purchasing and project decisions

Answer 11

Certificate of need requirements