Exam 11: Budget Concepts for Client Care

Once you have prepared your program or departmental budget, who will have the responsibility for a final decision regarding acceptance of the budget?

Which of these business aspects refers to the recording and reporting of financial transactions and data?

Which one of these terms refers to a report that documents and explains when a unit deviates from the approved budget?

Which one of the following documentation tools should you use to provide a snapshot of information and activity at a specific time?

What is the title of the body that accredits health facilities in Canada?

What percentage of operating costs is made up of salaries and benefits?

What type of budget includes items such as building permits, materials, and labour costs?

In relation to budget preparation, which one of these terms refers to the units or subsections within a facility?

The nurse manager has created a list of to-do's and things she will need for the new unit that is being built. On a piece of paper, she has plotted out the following information in a rough draft: New unit: supplies, labour, equipment, inspection, building permits. Also included in this list is a list of new equipment needed for the nurses, including updating equipment needs on the floor. The cost of the equipment expenses for the nurses totalled $2,000.00. Budgets have to be made. Looking at the above information, the nurse knows that the unit will have to create two budgets, and she identifies them as

Which of these factors serves typically as the baseline for preparation of an operating budget?

Identify budget expenses that would be related to the construction budget.

What is the collective term for the resources used to deliver services?

Six (6) months of time is generally devoted to preparing and developing an operating budget.

In terms of the budget, which category would include a donation coming to an organization?

As a new nurse manager on the floor, you have been given an annual budget and you must review it. What types of budgets would you expect to see on that annual budget?

Which of these terms is the process that details the cost of every supply item and the frequency of its use?

Which type of budget accounts for both revenue and expenditures associated with the day-to-day functions of a department or organization?

Operating budgets account for income and expenses associated with day-to-day activities. Identify examples of some of the expenses that may be incurred. (Select all that apply.)

Identify budget expenses that would be related to the capital budget.

Which one of these terms names a budget that indicates funds designated for the purchase of major new equipment?