Exam 12: Accounting for Hospitals and Other Health Care Providers

Private sector,not-for-profit health care organizations have a category of assets called "Assets Whose Use is Limited." That category refers to:

(Multiple Choice)

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Question 41

According to AICPA Health Care Guide,which of the following should not be included in the determination of a performance indicator for a health care organization?

(Multiple Choice)

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Question 42

Charity care is reported as both revenue and expense (bad debt)in the Statement of Operations.

(True/False)

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Question 43

The cash flow statements of private health care organizations,both not-for-profit and for-profit,may use only the indirect method.

(True/False)

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Question 44

During the month of December,Godiva Hospital billed patients $55,000,billed 3^rd parties $65,000,and provided $10,000 of charity care. How much should Godiva report as Accounts Receivable?

(Multiple Choice)

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Question 45

Health care organizations that are privately owned and operated to provide a return to investors follow GASB standards.

(True/False)

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Question 46

The AICPA Audit and Accounting Guide: Health Care Organizations applies equally to private not-for-profit,investor-owned,and governmentally owned health care organizations.

(True/False)

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Question 47

Identify income items which should not be included in the determination of the performance indicator by a hospital

(Essay)

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Question 48

Private health care organizations,both not-for-profit and for-profit,follow GASB standards while government healthcare organizations follow FASB.

(True/False)

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Question 49

Health care organizations that are privately owned and operated to provide a return to investors report the same net asset classifications as private not-for-profit health care organizations.

(True/False)

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Question 50

Which of the following is true regarding revenue recognition for health care organizations?

(Multiple Choice)

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Question 51

According to The AICPA Health Care Guide,transfers among affiliated organizations should not be included in the determination of a performance indicator for a health care organization.

(True/False)

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Question 52

Government owned hospitals follow FASB Statements 116 and 117.

(True/False)

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Question 53

Private health care organizations follow _ standards while governmentally owned health care organizations follow _ standards.

(Multiple Choice)

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Question 54

A donor pledged $500,000 to a not-for-profit hospital in 2014 to conduct medical research,conditional on the hospital raising $500,000 from other donors. The other donors met the condition in 2015. The donor transferred the funds to the hospital in 2015. In which year would the revenue be recognized?

(Multiple Choice)

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Question 55

Not-for-profit business-oriented organizations use accrual accounting.

(True/False)

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Question 56

The cash flow statements of health care organizations,both private and government-owned,may use the direct or indirect method.

(True/False)

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Question 57

The equity section of governmentally-owned hospitals includes net investment in capital assets,restricted,and unrestricted.

(True/False)

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Question 58

Which of the following is true regarding revenue recognition for health care organizations?

(Multiple Choice)

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Question 59

A private sector not-for-profit hospital received a gift of $250,000 cash on the first day of 2015 with a donor restriction that the resources be used to purchase certain equipment. The equipment was purchased on the same day and is expected to last five years with no salvage value. The Statement of Financial Position as of December 31,2015 would reflect as net assets of:

(Multiple Choice)

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Question 60

Showing 41 - 60 of 100

Private sector,not-for-profit health care organizations have a category of assets called "Assets Whose Use is Limited." That category refers to:

According to AICPA Health Care Guide,which of the following should not be included in the determination of a performance indicator for a health care organization?

Charity care is reported as both revenue and expense (bad debt)in the Statement of Operations.

The cash flow statements of private health care organizations,both not-for-profit and for-profit,may use only the indirect method.

During the month of December,Godiva Hospital billed patients $55,000,billed 3^rd parties $65,000,and provided $10,000 of charity care. How much should Godiva report as Accounts Receivable?

Health care organizations that are privately owned and operated to provide a return to investors follow GASB standards.

The AICPA Audit and Accounting Guide: Health Care Organizations applies equally to private not-for-profit,investor-owned,and governmentally owned health care organizations.

Identify income items which should not be included in the determination of the performance indicator by a hospital

Private health care organizations,both not-for-profit and for-profit,follow GASB standards while government healthcare organizations follow FASB.

Health care organizations that are privately owned and operated to provide a return to investors report the same net asset classifications as private not-for-profit health care organizations.

Which of the following is true regarding revenue recognition for health care organizations?

According to The AICPA Health Care Guide,transfers among affiliated organizations should not be included in the determination of a performance indicator for a health care organization.

Government owned hospitals follow FASB Statements 116 and 117.

Private health care organizations follow _ standards while governmentally owned health care organizations follow _ standards.

Not-for-profit business-oriented organizations use accrual accounting.

The cash flow statements of health care organizations,both private and government-owned,may use the direct or indirect method.

The equity section of governmentally-owned hospitals includes net investment in capital assets,restricted,and unrestricted.

Which of the following is true regarding revenue recognition for health care organizations?

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Funds, Inter-fund Transactions

Government-Wide Statements: Capital Assets; Long-Term Debt

Accounting for Special-Purpose Entities Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

College and University Accounting Private Institutions

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Financial Reporting by the Federal Government

Filters

Exam 12: Accounting for Hospitals and Other Health Care Providers

Private sector,not-for-profit health care organizations have a category of assets called "Assets Whose Use is Limited." That category refers to:

According to AICPA Health Care Guide,which of the following should not be included in the determination of a performance indicator for a health care organization?

Charity care is reported as both revenue and expense (bad debt)in the Statement of Operations.

The cash flow statements of private health care organizations,both not-for-profit and for-profit,may use only the indirect method.

During the month of December,Godiva Hospital billed patients $55,000,billed 3rd parties $65,000,and provided $10,000 of charity care. How much should Godiva report as Accounts Receivable?

Health care organizations that are privately owned and operated to provide a return to investors follow GASB standards.

The AICPA Audit and Accounting Guide: Health Care Organizations applies equally to private not-for-profit,investor-owned,and governmentally owned health care organizations.

Identify income items which should not be included in the determination of the performance indicator by a hospital

Private health care organizations,both not-for-profit and for-profit,follow GASB standards while government healthcare organizations follow FASB.

Health care organizations that are privately owned and operated to provide a return to investors report the same net asset classifications as private not-for-profit health care organizations.

Which of the following is true regarding revenue recognition for health care organizations?

According to The AICPA Health Care Guide,transfers among affiliated organizations should not be included in the determination of a performance indicator for a health care organization.

Government owned hospitals follow FASB Statements 116 and 117.

Private health care organizations follow _____ standards while governmentally owned health care organizations follow _____ standards.

Not-for-profit business-oriented organizations use accrual accounting.

The cash flow statements of health care organizations,both private and government-owned,may use the direct or indirect method.

The equity section of governmentally-owned hospitals includes net investment in capital assets,restricted,and unrestricted.

Which of the following is true regarding revenue recognition for health care organizations?

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Funds, Inter-fund Transactions

Government-Wide Statements: Capital Assets; Long-Term Debt

Accounting for Special-Purpose Entities Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

College and University Accounting Private Institutions

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Financial Reporting by the Federal Government

Filters

During the month of December,Godiva Hospital billed patients $55,000,billed 3^rd parties $65,000,and provided $10,000 of charity care. How much should Godiva report as Accounts Receivable?

Private health care organizations follow _ standards while governmentally owned health care organizations follow _ standards.