Mountain View Nursing Facility uses a chart of accounts format that is made up of three sets of digits. The first set of digits represents the financial statement element, the second is for a primary subclassification, and the third is for a secondary subclassification. To which of these three sets of digits would Petty cash for the front office belong?

A) Financial statement element B) Primary subclassification C) Secondary subclassification D) None of these is correct.

The chart of accounts:

A) is a map that the financial manager must and should understand. B) can be infinitely customized for an organizations purposes. C) has generic examples available for reference purposes. D) All of these are correct.

One output from the clinical and financial data repository is insurance verification for patients through an electronic data information link to insurance company databases. True or False

Of the four segments that make a financial management system work, the reporting system provides evidence that some event has occurred. True or False

Quarterly reports and statistics are called interim reports and generally contain raw data. True or False

Most organizations have a 12-month reporting period known as a fiscal year. Anything less than a full 12-month year is called a stub period and is fully spelled out in the heading of the report. True or False