HEALTHCARE FINANCE TOPIC
I have answered these questions, but I need a second opinion. Please explain why you choose that answer.
Please answer all the questions below.
6. Which of the following statements about the financial risk to providers under different reimbursement methods is most correct? a. Different payers use different reimbursement methods, so providers face varying levels of risk b. Prospective payment transfers the cost risk (of each reimbursable episode) from insurers to providers c. Capitation transfers both cost risk and utilization risk to providers. d. Statements a. and b. are both correct. e. Statements a., b., and c. are all correct. 7. Which of the following statements about the income statement is most correct? a. It has several alternative names, including the statement of liabilities and the statement of assets. b. It reports the financial status of an organization as of a single point in time. c. It reports the economic profitability of an organization. d. Its three major sections are operating costs, nonoperating costs, and total (net) costs. e. Income statements are always prepared annually, but never for shorter periods (e.g quarterly). 8. Which of the following statements about income statement expenses is most correct? a. Supplies are expensed (shown) on the income statement when purchased. b. Supplies are expensed (shown) on the income statement when consumed (used to provide patient services). c. Expenses can only be reported in one format, from largest to smallest. d. Expenses can only be reported in one format, from smallest to largest e. Statements b. and c. are both correct. 9. True or False: Generally accepted accounting principles provide an exact answer to every accounting question, leaving no opportunity for negotiation, compromise, or interpretation in the preparation and presentation of financial statements Why? 6. Which of the following statements about the financial risk to providers under different reimbursement methods is most correct? a. Different payers use different reimbursement methods, so providers face varying levels of risk b. Prospective payment transfers the cost risk (of each reimbursable episode) from insurers to providers c. Capitation transfers both cost risk and utilization risk to providers. d. Statements a. and b. are both correct. e. Statements a., b., and c. are all correct. 7. Which of the following statements about the income statement is most correct? a. It has several alternative names, including the statement of liabilities and the statement of assets. b. It reports the financial status of an organization as of a single point in time. c. It reports the economic profitability of an organization. d. Its three major sections are operating costs, nonoperating costs, and total (net) costs. e. Income statements are always prepared annually, but never for shorter periods (e.g quarterly). 8. Which of the following statements about income statement expenses is most correct? a. Supplies are expensed (shown) on the income statement when purchased. b. Supplies are expensed (shown) on the income statement when consumed (used to provide patient services). c. Expenses can only be reported in one format, from largest to smallest. d. Expenses can only be reported in one format, from smallest to largest e. Statements b. and c. are both correct. 9. True or False: Generally accepted accounting principles provide an exact answer to every accounting question, leaving no opportunity for negotiation, compromise, or interpretation in the preparation and presentation of financial statements Why
