Random Flashcards by Aimee Walker

Average credit card fee benchmark

1.5% of gross.

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What protective measure can practice take to satisfy a court of law that electric patient records are trustworthy?

Placing backup tapes or discs in an escrow account

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What are two ways that periodic medical record audits and peer reviews benefit a veterinary practice

Legal compliance and increase profitability

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If a mistake is made in a hand written medical record, what is the correct way to make an alteration

Crossed out, Dated, initial, and an explanation recorded

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What information should be included on a procedural consent form

Risk, alternatives, prognosis, and potential complications

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In regards to identifying your practices trade area there are two common calculations, what are they and which calculation is best

Drive times and radius rings Drive times is preferred

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In regards to changing organizational culture; there are five key steps in making a culture change within a practice.
What are they and which step states “the bottom line is that if a leader wants to create a different culture within the hospital, the leader has to go first”?

Define the culture
Align behaviors with the desired culture
Commit to the change ***
Support the shift
Grow the team

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Which source of referrals are clients frequently exposed to first?

Internet

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Why is it essential that veterinary practices know about her Health and Insurance Portability and accounting act of 1996?
A-to be informed about human medical field requirements in preparation for changes to vet med
B-to ensure client records are kept confidential
C-to ensure vet practices meet minimum requirements for employee health insurance
D-to ensure personnel files and employee medical records are maintain in separate but secure areas

D (think of the many personnel files we have to keep and medical has to be separate)

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Why should the leaders of a practice take time to develop a marketing plan of action?
A; to plan and account for each step of the entire marketing plan
B: to determine the effective mental of last years marketing plan
C: to develop a list of pros and cons for utilizing new marketing techniques
D: to provide an opportunity to discuss the upcoming budget

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Which is an effective way to simultaneously market to current and prospective clients?
A: post a bulletin board in the lobby
B: conduct an open house at the practice
C: creat a commercial to be viewed on the local tv station
D: send out a mailing to all pet households in your zip code

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Which of the following is NOT considered a hidden ordering cost associated with inventory?
A: price shopping
B: pharmacy licensing/DEA fees
C: receiving and unpacking a shipment
D: reconciling statements

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In what way can a blog be helpful to a veterinary practice?
A: providing a pathway for vets to communicate with a pet owner about pet progress
B; allowing pet owners to post information about their pet on the practice web site
C: providing a means for the manager to use picture and video as a training tool
D: allowing medical staff to provide medical information and information on service offerings

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What are the 4 R’s of team management?
A: relational, reward, reasonable, resourceful
B: relatable, resilient, realsitic, risk aware
C: responsibility, respect, rapport, recognition
D: resolute, reverential, responsive, reliable

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As it relates to negotiating, which statement below is NOT true
A: one question to consider is “what do i really need from this transaction and what do I only want”
B: to avoid potentially making an agreement too far into the future to actually forecast the benefit, maintain strategies that focus on short term objectives
C: negotiation requires research on the topic being negotiated prior to agreeing to participate
D: make sure to identify the best alternative to negotiated agreement

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How are consumers protected from unfair collection tactics?
A: by paying their debts within 90 days
B: by the provisions of the Fair Debt Collection Practices Act
C: by the provisions of the Collection Agency Ethical Guidelins
D: by the provisions of the Consumer Privacy Act

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When informing the rest of the staff of an employee termination, what approach decreases potential liability?
A: be honest with the staff and tell them the reason for termination
B: do not discuss the termination with staff members
C: discuss the reason with the staff and remind them how to avoid termination
D: state the employee was terminated for violating hospital policy

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Which two key pieces of information are show on an accounts payable report?
A: the amount due to thepractice and the timeframe
B: the itemized invoice and the purchase date
C: the total amount due for all accounts and aging
D: the amount owed and the due date

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To be remotely competitive,business must meet the minimum performance standard. Which below is not one of the Value Disciplines in Business?
A: product leadership
B: perceived market worth
C: customer intimacy
D: operational excellence

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What does the acronym CRAFT represent?
A: Compliance = recommendation + acceptance + follow through
B: Compliance = resassurance + acceptance + follow through
C: Compliance = recommendation + agreement + follow through
D: Compliance = Reassuance + agreement + follow through

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What does a perpetual inventory system do?
A: provides an up to the minute list of quantities of inventory on hand
B: provides inventory sales information whenever needed
C: provides an accurate detail of inventory levels at any time
D: tracts inventory items received

C
Reduces the quantities in the computer’s database as inventory is depleted

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The mandatory FLSA, EEOC, FMLA, OSHA, and EPPA posters are made available through
A: Equal employment opportunity commission
B: US Dept of Labor
C: IRS
D: personnel consulting firms

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What four steps should a manager take to intervene in and resolve staff conflicts?
A: confront the behavior, talk it out, hold employees accountable, follow up and share feedback
B: Identify problem areas, utilize progressive discipline measures, enforce the polyp, follow up and share feedback
C: conduct a staff meeting, use recent examples, set goals for desired behavior, closely monitor the situation
D: ask employees feedback to identify problems, find the truths, re-interlude the policy on conflict and closely monitor the situation

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What is the recommended number of practice brochures to have printed at one time
A: one year supply
B: one month supply
C: half the number of active clients
D: six months supply

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Which statement regarding the confidentiality of client information in the medical record is accurate. A: the client information is confidential but the patient information is not considered confidential B: it is unethical to release medical record or client info without a court order or owner consent C: the information in the medical record is not confidential D: it is unlawful to disseminate client information without a court order or consent of the client

What is the best measure of customer satisfaction?

Word of mouth referrals

Which of of the statements before regarding the I-9 is NOT true? A: I9 should be kept for four years front the date of hire or one year from date of termination whichever is longer B: I9 can be inspected at any time C: verification documents do not have to be copied D: I9 should not be filled out until the first date of employement

A should be kept 3 years not four

Income statements, Balance sheets and cash flow statements are all examples of Pro-Forma True/false

A true

The diamond labeling on secondary dispensing containers is called what? A: Hazardous materials identification system B: chemical instability labeling system C: national fire protection association D: chemical safety data

Why should management analyze financial reports on a daily, monthly, yearly basis? A: to identify problems sooner versus later B: to review what has occurred in business C: to increase awareness of reports D: to assist in planning

THe funding standards applicable to employee benefits plans are regulated under A: Employement retirement income security act B: social security act C: Internal Revenue Service D: Savings incentive match plan for emplyoyees

Which is teh correct reporting scenario when a workplace injury occurs in a veterinary practice? A: File a workman’s compensation report B: complete an OSHA form 300 if the practice has more than 11 employees C: complete an OSHA form 300 D: no report is necessary if the injury does not require medical treatment

If an employee takes leave under the Family Medical Leave act, what happens to his or her benefits? A: the benefits remains he same as when the employee was working B: the benefits continue but the employee contributes nothing because he or she is not working C: the benefits are offered through COBRA during FMLA leave D: the benefits are suspended until the employee returns

Using the metrics below, calculate the number of inventory turns per year Enzymes chew in January: 4 Enzyme chews in December: 4 Total purchased for the year: 36 Inventory turns per year of the enzyme chew was?

How can a manager learn about all of the tools and settings of a new practice management software program? A: attending continuing education seminars given by the software company B: doing skills drills everyday on the new system C: exclusively through reviewing material on the software company’s website D: through reading articles in veterinary publications about software features

What should a practice do to help reduce the amount of negative office politics? A: implement a policy that promotes team values, fairness, and open communication B: owner should talk with the employees who are causing the negativity C: The manager should find the source of negativity and follow the progressive discipline system in the employee manual D: some negativity is normal and unless it is harmful can be ignored

Which option below is an ancillary benefit of a Ration -Based Inventory System? A: fewer expired products, ease of use due to proximity B: multiple team members are responsible for inventory which decreases stock outs C: the system is not affected by staff turn over due to transparency in the system D: duplication of drugs is minimized

D A ration based (or central supply) has many ancillary benefits including, diminishing the amount of drugs on hand, easier to find, duplication is minimized, and price changes can be accommodated more quickly

Which items should be included in the calculation of the cost of holding a staff meeting? A: Employee wages, food (optional), and hourly overhead for the meeting B: length of meeting, wages, food, and lost profits C: length of meeting, meeting time preparation, food, and wages D: wages, meeting time preparation, missed doctor productivity, and food

The single most effective method of marketing a service to a client is what? A: having the employees repeat the message a minimum of three times per visit B: educational material that is attractive, easy to read, and focused on benefits of the service C: creating a targeted marketing plan D: using the assumption sale technique

The practice has a budget of $35,000 per month for flea/hw prevention. As of march, every month has totaled over $40,000 in flea/hw prevention, leaving a $5000 monthly_______ A. Anomaly B: departure C: variance D: adjustment

What is the foundation for any cash management structure? A: video surveillance and training B: good internal controls and video surveillance C: training and process D: documentation and process

Which is the most important factor of the 20-factor common law test? A: the location in which the work is performed B: the right to control and direct work C: the way in which the individual is trained for the work D: the number of clients/patients to which the individual provides services

Which statement is true regarding the protection of a pregnant worker’s job? A: protected by the Social Security Administration because it is a short term disability B: protected by Equal Emplolyment opportunity commission because discrimination based upon pregnancy constitutes unlawful sex discriminimation C: protected by Civil Rights Act because discrimination based upon pregnancy constitutes unlawful sex discrimination D: protected under the Americans with Disabilities Act because pregnancy constitutes a sort term disability

C: pregnancy discrimination act falls under the Civil rights act

Kinetics, proxemics, and autonomic shifts are all examples of: A. Personality profile quadrants B: non verbal communication C: spatial boundary tolerance in individuals D: none of the above

Five tiers of owner income compensation: 1–compensation for veterinary efforts, 2–compensation for management efforts, 3–equalizing owner perks, 4–profits reflected as a return on investment and A: Distribution of remaining profit B: Complete benefit package C: regular draws against the value of the practice D: base salary with no commission variables

What tool can provide good insight into problems or issues that may not have yet surfaced within a practice? A: employee survey B: suggestion box C: client satisfaction survey D: employee self-evaluation

Daniel Goldman introduced the mixed model of Emotional Intelligence and in that model the four competencies that drive leadership. What are those five skills? A: Comprehension, responsiveness, impulse controls, judgement, and discernment B: Self-discipline, perception, sympathy, communication skills and intent C: self awareness, motivation, social skills, empathy and self-regulation D: integrity, decisiveness, commitment, accountability and creativity

What do we call the following formula: Assets= Liabilities + Owner’s Equity A: present value equation B: net income equation C: cash flow equation D: accounting equation

What two elements are essential for the creation of a bailment? A: a written and signed agreement defining the specific bailment and a naming all potential Bailees and Bailors that may be involved B: physical delivery of the property by the Bailor and knowing acceptance for he property by the Bailee C: that the Bailee provide a level of care appropriate to the circumstances and that the Bailor was instrumental in defining those levels of care D: the bailor has informed the Bailee of all known special care necessary to succeed in the role of Bailee and the Bailee has agreed to accepting the responsibility for the special care

B The Bailment is defined as a delivery of something of a personal nature by one party to to other to be held according to the agreements. The object of the delivery is to be returned or delivered over when the purpose was accomplished. Whenever a veterinarian has possession of a client’s animal, a bailment has taken place. A written boarding agreement is an example of a written bailment.

A clear statement to the agreement of the terms that is offered is called a what?

Express acceptance (Other is implied acceptance)

In a covenant not to compete the scope of activity is generally restricted and includes a time limitation and geographic constraint True/False

True

What laws involve a person who has been authorized to act on behalf of another? A: Law of authority B: Law of agency C: Law of power of attorney

What is the 4th element of a contract? A: contract final agreement B: intent to contract C: agreement to complete

According to the Fair labor standards act if a relief veterinarian has a set schedule with your practice but also continues to provide random relief shifts for other practices, are they considered an independent contractor?

No because of the set schedule

When it comes to the employment of minors, which age group can only work 3 hrs per day during schools days and 8hours on non-schools days? They also cannot begin work prior to 7am A: 14-15 year olds B: 14-16 year olds C: any employee under 17 years of age

____ occurs when submission to or rejection of unwelcome sexual conduct is used as the basis of employment decisions affecting the individual (applies to protected classes as much as it does gender) A. Equal exchange burden B. Quid pro quo C. Tit for Tat

Who enforces the federal laws prohibiting employment discrimination? A. The Fair Labor Standards Act B. The Civil rights act C. The Equal Employment Opportunity Commision

In most states The Principles of veterinary medical ethics of the AVMA can actually be enforced by law True/False

False, principles are baes more on professional relationships one has with colleagues than moral and ethical issues relating to animals and they can not be enforced by law as written

Client confidentiality is a critical part of our profession, with that in mind, when is it considered acceptable for a member of the practice to take clients lists and information when they are departing? A. Never B. When they maintain “relief DVM” relationship with the practice C. It depends upon what the agreement was with the practice

Does the VHMA have a code of ethics? Yes/No

Yes

Which of the following are NOT acceptable contacts for employees to discuss client or patient confidences? A. Client’s agent B. Concerned co-worker C. Co-workers involved in that patient’s care

When considering compliance with the OSHA regulations, it is essential for employers to conduct and document which of the following two steps in employee management? A. Orientation and training B. Training and documentation C. Indoctrination (training) and counseling during high-risk situations D. Training and injury and illness reports

Where large accidental spills of a halogenated anesthetic agent occurs and there is insufficient ventilation to adequately reduce airborne levels, which of the following choices represent a type of personal protective equipment that should be provided for use during cleanup? A. Any type C supplied air respirator B. Gloves and goggles C. Face shields, and chemical protective clothing D. All of the above

What system of the Food and Drug Administration has inadvertently promoted the off-label use of drugs, by making the cost of producing a drug so high that it is impractical for drug companies to introduce new drugs for species of animals with small numbers? A. DEA B. FD&C C. CSAA D. NADA

D—NADA stands from New Animal Drug Administration

Section 201-105 of the Code of Federal regulations require that a drug must meet which of the following conditions in order to qualify as a veterinary prescription drug? A. Has completed a NADA and submitted all required biochemical assays and trial information B. Was formulated for the specific use on a species of animal other than humans C. In the possession of a licensed veterinarian for use in the course of professional practice D. Complies with all FDA testing and labeling directives for use in the practice of v veterinary medicine

In all 50 states, criminal law defines the boundaries of a legal relationship between two categories of entities. Which of the following choices accurately reflects the two categories of relationships that are applied to criminal law? A. State representation and business organization B. Individual and society C. Society and public welfare D. Business organization and individual

Which of the following choices is part of the AVMA Model practice act’s definition of a VCPR? A. A diagnosis, which must be permanently entered into the patient medical record B. The vet has recently seen or is acquainted with the keeping and care of the animal(s) C. A written treatment plan, which must include all recommendations and medications D. All of the above

B the AVMA definition of a VCPR includes the statement “the veterinarian has recently seen or is acquainted with the keeping and care of the animal(s)” Other choices are in CA definition but may or may not be adopted by other states

Both the federal gov’t and the FDA are serious about the veterinarians duty to assure that prescription drugs are dispensed properly and only in the presence of a VCPR. Which law provides for fines for vets found guilty of violating the FD&C act? A. FD&C penalty act of 1992 B. Veterinary felony act of 1987 C. Criminal fines act of 1984 D. Fraudulent prescription act of 1996

When considering veterinary negligence and malpractice disputes, case law and precedents are set at which of the following trial levels of the court system? A. Criminal level B. Civil level C. Appellate level D. Public level

In which US court are most veterinary lawsuits heard? A. County court B. Justice of the Peace C. Appellate court D. Special court

A (AKA small claims court)

If you are managing a veterinary clinic and wish to file a lawsuits against a client for $5000, in which court would your case go to trial? A. Appellate court B. Court of appeals C. County court D. Special court

C (aka small claims court)

Under which law do most cases that involve veterinary professional liability originate from? A. Criminal law B. Law of malpractice C. Law of civil negligence D. Probate law

B—they result from incidents such as injury, death, or escape of a client’s animal

What is the greatest challenge for maintaining an accurate perpetual inventory system?

Hospital consumables

The concept of ration-based inventory management is based on what simple theory? A. Inventory is more vulnerable to wastage if held in smaller quantities B. Inventory is more difficult to control if held in large quantities C. Inventory is less vulnerable to shrinkage if held in large quantities D. Inventory is easier to control if it held in smaller quantities

When considering employee theft of inventory items, what is the greatest safeguard that a veterinary hospital can implement in order to safeguard the practice’s assets? A. A physical inventory count B. A perpetual inventory system C. An inventory control card system D. Assigning a single inventory manager

Which of the following is the correct term for a method of pricing that adjusts the sales prices of an item as contemporaneously as possible to the sale, based on its’ most current replacement acquisition cost and regardless of how much was paid for the item? A. Cost plus pricing B. Market oriented pricing C. Just in time pricing D. Premium pricing

When ordering veterinary medications and supplies, there is an optimal quantity that should be purchased at any one time, in order to maintain maximum profitability for the practice. Which of the following is a mathematical formula that can be used in order to determine optimal ordering quantities? A. Optimal Order Quantity B. Reorder Point C. Purchase Lead Time D. Economic Order Quantity

What is the correct term for the computation of sales that relates to the volume of merchandise sold to the inventory amount? A. Inventory turnover B. Sales reconciliation C. Merchandise sales point D. None of the above

Use the following example to calculate the ANNUAL turnover of 100mg of amoxicillin tablets, 200 per bottle. The beginning inventory count on January 1 is 150 tablets, and the ending count on December 31 is 210 tablets. The total purchases form January to June were 4 bottles, or 800 tablets. How many times was this medication turned over in the course of one year?

8.88 times per year

Breakeven analysis is performed in order to adequately price a product. What is the formula for determining breakeven analysis? Breakeven sales price = A. Fixed cost + variable cost B. Vendor cost + sales tax C. Cost + 20% D. Vendor cost + fixed cost

The Economic Order Quantity (EOQ) recognizes three specific costs incurred in the computation of optimal ordering quantities of a single items. What are these three specific costs? A. Annual demand in units, holding cost, unit cost B. Ordering cost, holding cost, unit cost C. Unit cost, taxes, shipping D. Vendor price, holding cost, taxes

When does inventory become a legal asset of the veterinary hospital? A. 30 days from title receipt B. Upon shipment C. As soon as title has passes from the vendor to the veterinary practice D. When the merchandise is delivered to the shipper

If a shipping document enclosed with an inventory delivery states “FOB shipping point”, when would the title, or ownership, of the inventory pass to the veterinary practice? A. When the merchandise is shipped B. when the merchandise is delivered to the veterinary practice C. Upon receipt of payment D. When the merchandise is delivered to the shipper

D FOB destination would transfer when merchandise is delivered to the veterinary practice FOB stands for Freight on board or free on board and is used to indicate when liability and ownership of good is transferred from seller to buyer

The breakeven analysis formula states that S (Sales price)= F + V +P. When using the breakeven analysis as a starting point for product pricking, P is a variable component in the equation. What does P stand for? A. Profit B. Product C. Price D. Percentage

If VanMeer Veterinary hospital has purchased a new ultrasound machine through Western medical and did not collect the requisite sales tax because they are located in another state, what type of tax payment is the Veterinary Hospital liable for? A. Sales tax B. Use tax C. Service tax D. Major purchase tax

If the inventory turnover rate on a bottle of Baytril 22.7mg (150ct) is 6.66, what is the average number of days (over a period of 183 days) that the medication sits on the shelf before it is sold out? A. 60 B. 27 C. 18.3 D. 20

B Number of days in the period / turnover rate 183/6.66

What’s document is a legal agreement describing no defining the events causing a partner or shareholder to sell his/her interest in a veterinary hospitals, and the terms for resolving other interests and ownerships? A. Shareholder buyout agreement B. Buy-sell agreement C. Stock liquidation agreement D. Partner dissolution agreement

Computer technology that allows images to be made, stored and transmitted between computers and re-created for viewing is knows as what? A. electronic records system technology B. Computed radiology technology C. Digital Image technology D. Computer imaging technology

What is the standard adopted by OSHA that requires all employers to develop a prescribed program for ensuring that all employees are aware of the existence of hazardous materials in their workplace, and trained to their use? A. Hazardous Communication Standard B. MSDS C. Hazardous materials in the workplace standard D. Employee hazard standard

Generally speaking, what is the difference between a veterinary clinic and veterinary hospital?

A veterinary hospital has overnight facilities for hospitalization and a clinic does not

What is the current mandatory depreciation method required by the US federal regulation for depreciating property acquired after December 31, 1986? A. Reversed depreciation system (RDS) B. Modified Accelerated cost recovery system (MACRS) C. Moderated depreciation recovery system (MDRS) D. Acceleration cost depreciation system (ACDS)

Which of the following is a type of commercially available pet health record that is given to a client to keep track of an animal’s vaccination history? A. A health report card B. A patient medical record C. A take home history report D. A patient-health pocket record

What is the difference between advertising and marketing a veterinary practice? A. Advertising utilizes mass media while marketing utilizes direct mail B. Advertising announces promotions or a sale, marketing announces value C. Advertising announces the value of a service, marketing gives information with an implied intent to sell D. Advertises utilizes a single media, marketing utilizes multiple media channels

What are the four P’s in marketing?

Position, profit, product, promotion

To identify a specific market group by specific characteristics, such as age, income level or type of pets is referred to as what? A. Profiling B. Segmentation C. Targeting D. Reach

Direct mail coupons are often timely and excellent for direct marketing campaigns. Which of the following considerations must a manager evaluate prior to deciding to use direct mail coupons? A. Accuracy of database B. Frequency of mailing C. Hospital Image D. Staff time preparing mailings

When a veterinarian applies for a state license to practice medicine for the first time, how many states will waive the state portion of the exam? A. 6 B. 5 C. 1 D. None

In the United States court system, which of the following choices represents the type of court that is not found under the special courts title? A. Traffic court B. Juvenile court C. Small claims court D. Probate court

Which of the following choices represents a valid legal concern, regarding the use of computerized pet medical records in a veterinary practice? A. Alteration of records B. Breech of client confidentiality C. Loss of data D. Inaccurate entries

What are the main two ways that periodic medical record audits and peer reviews benefit a veterinary practice? A. Employee reviews and vaccine reminder compliance B. Survey client/patient data and discover service gaps C. Legal compliance and increase profitability D. Verify association standards are upheld and staff compliance

If a veterinary staff member makes a mistake when recording information on a hand-written patient medical record, what is the correct way to make an alteration?

Crossed out, initialed, dated and expiation recorded

Providing a client with informed consent for procedures that will be performed on a pet is an important step in an organized veterinary practice. What information should be included on procedural consent forms? A. Client and patient information, procedure to be performed and risk B. Prognosis and risk C. Risk, alternatives, prognosis, and potential complications D. Risk and potential complications

When utilizing a problem oriented medical record format, in which section are the “SOAP” notes recorded? A. Major/minor problem B. Progress section C. The defined database section D. The plan section

When recording information into a patient medical records, which of the following is the correct way to indicated (in abbreviated form) that a patient is to be given as much water as desired? A. H2O Free choice B. water NPO C. H2O ad lib D. Water BID q 24h

Besides the unit cost, what are the 2 broad categories of inventory expense are computed in order to determine the actual cost of an inventory item? A. Unit cost and holding cost B. Ordering cost and holding cost C. Unit cost and ordering cost D. Ordering cost, holding cost, sales tax

Inventory ordering costs accounts for what percentage of the total unit cost?

15-20%

Inventory holding cost normally accounts for what percentage of inventory expense?

8-15%

Personal property taxes that are paid by the Veterinary hospital for the value of inventory, insurance premiums, and pharmacy fees are an example of what type of inventory expense? A. Ordering expense B. Operational expense C. Holding expense D. Unit cost

A periodic inventory system uses records that rely on which of the following at the end of each accounting period? A. A bookkeeper B. Computerized count C. A balance sheet D. A physical count

What is a reasonable beginning goal for number of transactions per year per doctor?

5000

What net to new clients ratio indicates healthy growth of the practice? A. 6:1 B. 8:1 C. 10:1

What are the 3 R’s of client retention?

Recall, reappointment, reminder

A small animal practice will lose _____ of their clients every year, and the goal should be to retain ____ over a 3 year period.

10-15% 70-75%

_____ is a proactive process of gathering data about client preferences and activities to better target their services and products to client needs. A. Customer experience management B. Customer relation management C. Customer preservation

The goal should be to retrain ___ of clients over a 3 year period A. 85-90% B. 65-75% C. 70-75%

Each client who presents to the practice should be scheduled for at least one of the 3 followup events sot that the practice automatically contacts each client in the future. A. Recall, reappointment, reminder B. Recall, reminder, recheck C. Reminder, reappointment, referral

Clients retain ___ of what they hear.

20%

Clients retain ____ of what they read.

30%

How many times must a client hear about a product or service before they buy it?

5 times

Client reference and education materials should always be branded with the mission statement of the practice. True or False

False: hospital contact info but mission statement is not necessary

What does SWOT stand for and when do you use it?

Strategic planning Strengths, weaknesses, opportunities, threats

In which of the following hospital accounts would a debit balance indicate a likely error? A. Expenses B. Cash C. Fees earned D. Accounts receivable

What is the difference between managerial accounting and financial accounting?

Managerial accounting is not subject to the “ generally accepted accounting principles” (GAAP) and financial accounting is

The ratio of the quick assets to current liabilities, that indicates the immediate debt paying ability of a veterinary practice, is which of the following A. Current ratio B. Working capital C. Quick ratio D. Checking ratio

Evergreen animal clinic issued a $5000 60 day note to a supplier, who discounted the note 12%. What are the proceeds from this note?

$4900 Face value of the note plus interest (5000x12%x 60/360) =$100. Subtract this from original amount`

Using the declining-balance method, what is the amount of depreciation for the second year of use of a $9000 dental prophy machine, with an estimated residual value of $300 and an estimated life of three years?

$2000 Compute depreciation of first year $6000 by multiplying the cost of the machine by 2/3 The second year is calculated but multiplying the blood value of $3000 by 2/3=$2000

Which of the following is an example of an accelerated depreciation method? A. Declining balance B. Straight line C. Depletion D. Accelerated depreciation

Purchase a DR system for $100,000. Traded in an older unit for $25,000 book value Assuming a $30,000 trade in allowance and paid $70,000 cash. What is the cost of the new system for the purpose of financial reporting?

$95,000 Add the amount of cash given to the book value of the old asset (70,000+25000)

If the hospital’s sales are $500,000, variable cost are $200,000 and fixers costs are $240,000, what is the contribution margin ratio?

60% Percentage of each sale that is available to cover the fixed costs 500,000-200,000/500,000

Communicating and delivering value that both clients and potential clients will desire is a major goal in marketing. For the purpose of accomplishing this what does “value” mean?

The benefit the customer receives from buying your service

Service gaps between established quality standards and service delivery are usually caused by?

Poor employee performance

Which agency is charged to advise on all questions relating to the interpretation of Bylaws, veterinary medical ethics and other rules governing the practice of veterinary medicine?

AVMA judicial councel

AAHA supports the position of reporting suspicions of animal abuse to the appropriate authorities when which of the following occurs? A. An owner fails to seek treatment B. An animal has presented for treatment C. Education is inappropriate or has failed D. There are numerous complaints

The management function that entails monitoring a veterinary hospital’s performance and compares that performance with previously set goals is known as what?

Controlling

Which of the following is an example of technical compentency? A. Completing requisite reports to state and federal agencies B. Solving employee problems quickly C. Knowledge of medical terminology used for auditing medical records D. Organizing employee files and maintains confidentiality

The process of establishing a cost effective pay structure within and organization is called ?

Compensation administration

Which of the following constitutes sexual harassment? A. Reducing an employees hours due to race or religion B. Anything of a sexual nature directed towards and individual C. Denying an employe a promotion on the basis of sex D. Reassigning an employee due to a disability

Generally speaking, most states allow that veterinary hospital employees are permitted to view their personal files under what condition? A. Express legitimate business need B. Submit request in writing C. Anything that they want D. Every time something is added to it

By federal law, how must Jane be paid for working on a holiday? A. Overtime B. Double time C. Time and a half D. Regular pay

Vacation pay is a benefit at ABC vet. If an employee separates from the practice, how is unpaid vacation pay handled by federal law? A. Employers can create their own policies regarding benefits B. Vacation pay must be paid C. Employee must be offered equal compensation D. Employer is under no obligation to honor unpaid vacation

The calculation that allows a manager to place a monetary value on the various consequences that result from making a decision is called what? A. Decision tree B. Marginal analysis C. Expected value analysis D. Escalation of commitment

When making decisions, managers often rely on judgement shortcuts in order to assimilate information. What are these judgement shortcuts called? A. Assumptions B. Value saving C. Economic thinking D. Heuristics

Managers that exhibit an analytic style of decision making have which of the following traits? A. Greater tolerance for ambiguity B. Making decisions quickly C. Are very broad in their outlook and creative D. Rely heavily on meetings for communication

The view of ethics in business decision making which considers only the potential outcomes or consequences is called what? A. Rights view B. Justice view C. Utilitarian view D. Social obligation view

Maslow’s heiracry of needs theory states that a person is motivated when which of the following occurs? A. Greater monetary compensation is offered B. Needs are essentially unfulfilled C. Security is fulfilled D. Needs are fulfilled

Which statement below corresponds to Theory Y view? A. The ability to make good decisions is limited to the minority of population B. Employees must be coerced, controlled, or threatened with punishment to achieve goals C. Most workers place security above all other factors D. The average person can learn to accept and seek responsibility

A physiological deficiency that makes a certain outcome seem more favorable than others is called which of the following? A. A disorder B. A perception C. A need D. A preference

What type of compensation programs pay employees on the bases of their skills, knowledge and behavior? A. Pay for performance B. Technical based C. Time on the job D. Competency based

A personality type that is characterized by a compelling desire to succeed: to do something better than others has a high what? A. Need for achievement B. Equity theory C. Motivation hygiene need D. Expectancy theory

Individuals who have influence over co-workers even though they may not be a part of management team. What are these individuals called?

Emergent leaders

Teaching others to understand the differences in individual perception often improves communication and understanding between coworkers. What type of perception is this?

Situational (not diversity)

Under the US Dept of Labor’s common law test, what determining factors clarify the employment relationship as either employee or independent contractor?

If the person for whom their individual performs services has rights to control the manner in which work is performed

The age discrimination in employment act applies to all employers that have which of the following? A. More than 20 employees B. Gross more than $100,000 annually C. Have no published policies regarding age discrimination D. The act applies to all employers, regardless of the size of the business

Retirement income plans, group health insurance, and stock plans are all examples of employee benefits that are governed under what federal act? A. Employee stock and shares benefit allowance act B. Employee benefit and retirement inclusion act C. Employee fringe benefit protection act D. Employee retirement income security act

Leadership theory classifications include trait, behavioral, contingency, and which of the following? A. Sociological B. Mindset C. Relationship D. Integrative

What leadership theory attempts to explain the distinctive characteristics that account for leadership effectiveness? A. Effective leadership theory B. Leadership Trait theory C. Characteristic Leadership Theory D. Group Trait Theory

What time of influencing power is based on the user’s personal relationships with other people? A. Expert B. Informational C. Referent D. Connection

A type of employee performance appraisal that is comprised of an employee’s strengths, weaknesses, past performances and suggestions for improvement is known as what? A. Written essay B. Behaviorally anchored rating scale (BARs) C. Intrinsic Feedback D. Group order ranking

When considering the mandatory standards of AAHA, relating to patient care, patients are given an examination appropriate to the presenting complaints and clinical situation. This is defined as which of the following.

A complete history and a thorough physical exam of all major organ systems, prior to any anesthetic procedure or any new presenting complaints.