Study Guide 8 Flashcards
(157 cards)
Things owed by the facility are called .
1. Debentures
2. Liabilities
3. Assets
4. Possessions
2
Money Invested in a facility is called .
1. Stock
2. Collateral
3. Capital
4. Liabilities
3
If the administrator wants to see the journals, she wants to see the .
1. Original entries
2. Debits
3. Owner’s equity
4. Net profit
1
Making a debit and credit entry is known as the system.
1. Cash
2. Double entry
3. Adjusting entry
4. Journaling
2
The bookkeeper sends the resident a bill for $3000 and makes a debit entry as an increase in capital and
would then make a(n) entry to increase revenue.
1. Credit
2. Adjusting
3. Bookkeeping
4. Accounting
1
Using the accrual system, the purchase of a six month supply of briefs would be made in the .
1. General journal
2. Balance Sheet
3. General Ledger
4. Notes to financial Statements
1
When errors are made in other journals they can be corrected n the .
1. Statement of Changes in Financial Condition
2. General Journal
3. General Ledger
4. Notes to financial Statements
2
When debits do not match credits in the general ledger, the NHA can assume an error was made in
.
1 Recording the transactions or posting them from the journals to the ledger
2. Preparing the financial statements from the journals
3. Recording the revenues and expenses in the profit and loss statement
4. Preparing the balance sheet from the general ledger
1
GAAP does not require investors to be provided the .
1. Balance Sheet
2. Income Statement
3. Notes to the Financial Statement
4. Chart of accounts.
4
At month’s end, the expenses are deducted from the revenues to determine the .
1. Investor equity
2. Accounts payables
3. Net income or profit
4. Capital expenses
3
When the NHA asks for a statement showing the ending balance of the revenue and expense
accounts, he wants to see the .
1. Income statement
2. Chart of Accounts
3. Balance sheet
4. Statement of changes in financial condition
1
An asset that can be turned into cash within 12 months is a .
1. Non-current asset
2. Current liability
3. Current asset
4. Capital asset
3
Bills from suppliers for food and office supplies are classified as .
1. Liabilities
2. Notes payables
3. Assets
4. Capital
1
When the NHA notes there are $200,000 in notes payables in the financial reports, she knows these
must be paid within .
1. 90 days
2. 120 days
3. 6 months
4. 12 months
4
Funds put into the facility by the owners are calculated in the .
1. Net profit
2. Net loss
3. Net worth
4. Net Income
3
The NHA asks for the statement of financial position at the beginning of the year, she would want to see
the .
1. Balance sheet
2. Profit and loss statement
3. Chart of Accounts
4. Letter of Credit
1
Current assets minus current liabilities = .
1. Net profit
2. Gross income
3. Working Capital
4. Debt to equity ratio.
3
When the NHA compares the same relationships in financial performance over several years, she is
doing a .
1. Ratio analysis
2. Functional analysis
3. Statistical analysis
4. mathematical analysis
1
A facility with current assets of $403,898 and current liabilities of $367,000 has a current ratio of
.
1. 1.1
2. .3
3. 9
4. .7
1
Ratios to be useful must be compared to over time.
1. Net Profits
2. Return on investment
3. Industry averages
4. Profits to earnings
3
A facility with long term debt of $4,000,000 and total equity of $3,000,000 has a debt to equity ratio of
.
1. 1.33
2. 2.66
3. .9
4. 4
1
General liability insurance provides the facility protection against .
1. The cost of treating Injuries to workers
2. Lost income due to interruption to normal business activity
3. Accidents to visitors
4. Injuries to residents from poor care provided by nursing staff
3
The most accurate method to count supplies is .
1. Periodic Inventory
2. Perpetual inventory
3. Annual Inventory
4. Historic based inventory
2
Using LIFO in a period of inflation would of remaining goods.
1. Raise the value
2. Lower the value
3. Have no effect
4. Capitalize the cost of the remaining goods
1