ADDITIONAL ACCOUNTING PROCEDURES FOR THE ADMIN

Question 1

Accounts ____ is generally defined as billing for services rendered by the facility.

1. Payable
2. Receivable
3. Services
4. None of the above

Answer 1

Receivable

Question 2

Accounts ___ is generally defined as the facilities moneys owed to creditors.

1. Receivable
2. Services
3. Payable
4. 2&3

Answer 2

Payable

Question 3

A system of ___ is needed to measure the amount and type of supplies used by each department.

1. Inventory control
2. Accountability
3. Invoices
4. None of the above

Answer 3

Inventory Control

Question 4

A perpetual inventory system is recommended to maintain a precise ___.

1. Department by department supplies available to patients
2. Number of available supplies
3. Count of inventory on hand
4. All the above

Answer 4

Count of inventory on hand

Question 5

Source documents for keeping the perpetual inventory record are the \_\_\_ and \_\_\_ slips.
1. Goods and Inventory slips
2, Requisition and receiving slips
3. Inventory and goods in house slips
4. None of the above

Answer 5

Requisition and receiving slips

Question 6

LIFO is defined as ___.

1. Live in Full Out
2. Line in First Out
3. Last In First Out
4. None of the above

Answer 6

Last in First Out

Question 7

FIFO is defined as ___.

1. First In FIrst Out
2. Fast in Fast Out
3. Fifth in First Out
4. None of the above

Answer 7

First In First Out

Question 8

The concept of depreciation is defined as ___.

1. Capital gains that lose their value over time
2. Assets that lose their value over time
3. Expensive costs that lose their value over time
4. 1&3

Answer 8

Assets that lose their value over time

Question 9

A recommended formula to figure Annual depreciation expense would be stated as ___.

1. Annual Operating Cost/Historical Expenses = Annual Depreciation Expense
2. Operating Cost/Historical Cost = Annual Depreciation Expense
3. Usual Life/Overall Running Cost = Annual depreciation expense
4. Historical cost/Useful life = Annual depreciation expense

Answer 9

Historical cost/Useful life = Annual depreciation Expense

Question 10

TRUE OR FALSE
To ignore the very real cost of depreciation is to underestimate the expense of providing services and to overestimate the value of the assets of the SNF.

Answer 10

TRUE

Question 11

Fixed Assets are generally recognized as all of the following except ___.

1. Land and improvements
2. Buildings
3. Fixed Equipment
4. Administrator and Director of Nursing
5. Major movable equipment
6. Minor movable equipment

Answer 11

Administrator and Director of Nursing

Question 12

There are two types of costs in the nursing home, Variable and ___.

1. Fixed
2. Stable
3. Debits
4. None of the above

Answer 12

Fixed

Question 13

The costs that fluctuate directly and proportionately with changes in volume is ___.

1. Fixed
2. Variable
3. Line items
4. All the above

Answer 13

Variable

Question 14

If volume is increased or decreased by a certain percentage, ___ costs will rise or fall.

1. Credit Line
2. Debit Line
3. Fixed
4. Variable

Answer 14

Variable

Question 15

The cost of the director of nursing’s salary will not change with fluctuations in the number of residents this is an example of what type of cost?

1. Fixed
2. Variable
3. Movable
4. Stable

Answer 15

Fixed

Question 16

An example of Semi-variable costs would be ___.

1. The Administrator Salary
2. The CNA weekly earnings
3. The Utility Costs
4. 2&3

Answer 16

2&3

Question 17

TVC is usually defined as ___.

1. The Volume of Credit
2. Total Volume Cost
3. Total Variable Cost
4. None of the above

Answer 17

Total Variable Costs

Question 18

If the DNS salary is $44,000 and he oversees the care of 100 residents, the DNS salary cost per resident could be $440. If it were 150 residents the cost would be $293. This is defined as ___.

1. Total Volume Cost
2. Total Fixed Cost
3. Total Cost Account
4. None of the above

Answer 18

Total Fixed Cost

P. 228

Question 19

To determine the variable cost of providing nursing services in a certain month how would you need write the formula?

1. (TC-TFC)/VU=VC/Unit
2. (TC-VU)/TFC=Unit/VC
3. (TFC-VU)/TC=VC
4. None of the above

Answer 19

(TC-TFC)-VU=VC/Unit

Question 20

TFC + TVC = TC. Which of the following shows the correct formula to figure Total Costs:
Total Fixed Cost
Total Variable Cost
Total Costs
1. TVC+TC=TFC
2. TFC+TX=TC
3. TFC+TVC=TC
4. None of the above

Answer 20

TFC+TVC=TC

Question 21

Costs may be categorized as ___ and ___.

1. Collected and Recorded
2. Debit and Credit
3. Direct and Indirect
4. None of the above

Answer 21

Direct and Indirect

Question 22

___ costs are defined as directly attributable to a revenue center or directly providing resident care.

1. Variable
2. Fixed
3. Indirect
4. Direct

Answer 22

Direct

Question 23

___ costs are defined as those that cannot be associated with a revenue-producing centers. In the SNF these would be attributed to nursing department i.e. Admin, Housekeeping, Dietary etc.

1. Variable
2. Fixed
3. Indirect
4. Direct

Answer 23

Indirect

Question 24

In order to set a rate for service a ____ must first be determined.

1. Direct Unit
2. Unit of service
3. Indirect Unit
4. None of the above

Answer 24

Unit of Service