QUESTION 12

1. What is meant by accounts payable

   		Money owed to vendors
   		Credit
   		Good purchased on a non cash basis
   		An invoice sent by a vendor

1 points

QUESTION 13

1. Which of the following is not a function of the governing board?

   		Making Operating decisions
   		Ensuring compliance with quality standards
   		Ensuring policies to protect resident rights
   		Creating the mission and vision

1 points

QUESTION 14

1. Corporate compliance includes all of the following except

   		the facility acting with integrity
   		corretive action
   		evaluating the facility food service menu
   		clarification of ethical standards

1 points

QUESTION 15

1. Generally, which shift needs the largest staffing in the Nursing Department?

   		Day
   		Evening
   		Nights
   		All Shifts need equal staffing

1 points

QUESTION 16

1. How much notice is a union required to give a nursing home before a strike?

   		3 days
   		7 days
   		10 days
   		14 days

1 points

QUESTION 17

1. Which of the following is not a component of the marketing mix

   		Place
   		People
   		Product
   		Price

1 points

QUESTION 18

1. In nursing home, annual financial planning is known as

   		financial accounting
   		resource allocation
   		budgeting
   		managerial accounting

1 points

QUESTION 19

1. Which of the following is referred to as the profit and loss statement

   		Budget
   		Balance Sheet
   		Cash Flow Statement
   		Income Statement

1 points

QUESTION 20

1. According to the fundamental accounting equation

   		assets=liabilities
   		operating income=revenues
   		assets=liabilities+equity (net worth)
   		none of the above

1 points

QUESTION 21

1. What is a variance?

   		The difference between revenue and expense
   		The differnence between assets and liabilties
   		The difference between current year and the previous year
   		The difference between the budget and actual results

1 points

QUESTION 22

1. If the PPD for food cost is $6, what will the daily cost be for a census of 120?

   		$20
   		$200
   		$720
   		$360

1 points

QUESTION 23

1. When doing the budget, what is projected first?

   		Census
   		Expenses
   		Reimbursement
   		Labor hours

1 points

QUESTION 24

1. Who approves the final budget

   		Department Heads
   		The Nursing Home Administrator
   		The Governing Body
   		CMS

1 points

QUESTION 25

1. To qualify for Medicaid, a senior must

   		be disabled
   		spend (down) their assets
   		have a spouse
   		be admitted to a nursing home

1 points