Use the 2017 financial statements for Cleveland Clinic found at www.clevelandclinic.org

FOR THE FOLLOWING QUESTIONS PLEASE USE LINK www.clevelandclinic.org

QUESTION 1

Cleveland Clinic provides a functional classification of expenses

A. nowhere in the report

B. in the Statement of Functional Expenses

C. in the notes to the financial statements

D. in the Operating statement

QUESTION 2

Cleveland Clinic would be which of the following types of organizations?

A. A business-oriented not-for-profit organization.

B. A governmental organization organized as a business.

C. A governmental organization organized as a not-for-profit.

D. A proprietary organization

QUESTION 3

What percentage of net patient service revenue is expected to be paid from insurance (not federal sources) in the most recent year?

A. 57%

B. 2%

C. 98%

D. Cannot be determined from the report.

QUESTION 4

What amount (in thousands) of the balance owed for services in the most recent year, is expected to be uncollectible from patients?

A. $162,342

B. $186,241

C. $296,469

D. $194,159

QUESTION 5

How much does Cleveland Clinic expect to collect from pledges within the next year (in thousands)?

A. $0

B. $61,439

C. cannot be determined

D. $45,657

E. $151,019

QUESTION 6

What is the cost of charity care provided in the most recent year?

A. $8.3 million

B. $87 million

C. Cannot be determined from the report.

D. $91 million

QUESTION 7

What amount of unrestricted operating expenses were "reimbursed" from Temporarily Restricted Net Assets in the most recent year (in thousands)?

A. $41,675

B. $7,442,889

C. $908,920

D. Cannot be determined from the report.

E. $81,871

QUESTION 8

Cash received from restricted gifts is considered what type of activity in the statement of cash flows?

A. Investing activity

B. Does not appear in the statement of cash flows.

C. Financing activity

D. Operating activity

QUESTION 9

Which of the following is true regarding the audit of Cleveland Clinic.

A. There is no indication that a single audit was conducted, although they are subject to the Single Audit Act.

B. A Single Audit was conducted.

C. A Single Audit was not conducted because because this type of organization is NOT subject to the Single Audit Act.

QUESTION 10

The account used to report the deduction from revenue for the difference between the gross patient service revenue and the negotiated payment by third-party payors in arriving at net patient service revenue is called:

A. Contractual adjustments or allowances.

B. Charity service

C. Allowance for uncollectible accounts

D.Insurance adjustment