4189342
Pregunta 1
Pregunta
The operating or 5 year plan is ....
Respuesta
-
how we expect to meet our objectives
-
how we expected to get rid of of what we are doing
-
to go onto a 3 years plan
Pregunta 2
Pregunta
The planning process takes...
Respuesta
-
less than the year
-
more than the year
-
randomly throughout the year
-
more or less continuously throughout the year
Pregunta 3
Pregunta
The plan is most detailed for the ___ year
Respuesta
-
1st
-
2nd
-
3rd
-
4th
-
5th
Pregunta 4
Pregunta
Managerial accounting is ___ year only
Respuesta
-
1st
-
2nd
-
3rd
-
4th
Pregunta 5
Pregunta
Budgets are ... plans, expressed in .... terms....that specify how resources will be used over some period of time
Respuesta
-
undetailed
-
detailed
-
easy
-
half
-
dollar
-
long period of times
Pregunta 6
Pregunta
Budgets may be developed and applied to any ___ within an organization
such as:
aggregate
by department
by service line
by ____
by the nature of the ___
Respuesta
-
level
-
by no contract
-
by contract
-
unexpedentiures
-
expedentiure
Pregunta 7
Pregunta
To be effective, budget must not be thought of as financial tools, but rather as
Respuesta
-
highly financial tools
-
planning tools
-
control tools
-
managerial tools
Pregunta 8
Pregunta
Budgets are used for: planning, communication, control
Respuesta
- True
- False
Pregunta 9
Pregunta
all organizations use ____ budgets to set standards for the coming year
Respuesta
-
annual
-
semi annual
Pregunta 10
Pregunta
most use quarterly budgets to ensure timely feedback and control
Respuesta
- True
- False
Pregunta 11
Pregunta
Not all budgets types have to follow the same timing pattern.
Respuesta
- True
- False
Pregunta 12
Pregunta
Out year budgets are more for ___ than for ____ purposes
Respuesta
-
unplanning, control
-
control, planning
-
planning, control
Pregunta 13
Pregunta
Bottom-up budgets:
-begin at sub-unit ( __ ) level
Respuesta
-
department level
-
lower level
-
are reviewed and compiled by the finance department
-
are reviewed and compiled by the lower level department
-
are not approved by senior management
-
are approved by senior management
Pregunta 14
Pregunta
Top down budgets:
-begin at the ___ department with ____ management guidance
-they are sent to the departments for __ ?
Respuesta
-
finance department
-
freshman department
-
senior management
-
lower management
-
process
-
review
Pregunta 15
Pregunta
advantages of bottom-up and top-down budgets
Respuesta
-
bottom up are usually more accurate in the detailed tasks
-
organizations can use both top-down and bottom-up budgeting
-
the budgeting technique that is most likely to motivate managers is....bottom up budgeting is the best way of motivating managers to meet
Pregunta 16
Pregunta
the major disadvantage of a budget produced by top down process is....
Respuesta
-
budget provide a means for coordinating the plans of all organization subunits. thus, budgets are a way to ''promote goal congruence''
-
this lack of participation may impair the coordination of objectives of subunits with those of the organization (goal congruence)
-
lower level managers will tend not to have an understanding and support for the top down budget
Pregunta 17
Pregunta
a problem with bottom up budgeting is .... = individual team members overstate their budget needs
Respuesta
- True
- False
Pregunta 18
Pregunta
___ budget is the ___ budget that develops the ___ data needed for the other budgets
Respuesta
-
statistics budget, foundation budget, input data
-
rhetoric budget, financial budget, output data
Pregunta 19
Pregunta
Important: a static budget is a budget that does not change as volume changes.
Respuesta
- True
- False
Pregunta 20
Pregunta
statistics budget contains the basic forecasts for:
Respuesta
-
volume of services provided
-
no volume provided
-
resources ( such as no labor and capital) needed to provide those services
-
resources ( such as labor and capital) needed to provide those services
-
smaller organizations do not have one at all.
-
smaller organizations may not have one.
Pregunta 21
Pregunta
''revenue budget'' combines with volume data from the statistics budget with reimbursement expectations to ___ revenues
Respuesta
-
forecast revenues
-
get rid of revenues
-
buy reveneues
Pregunta 22
Pregunta
the end result is a revenue forecast when it comes to revenue budget
end results:
Respuesta
-
in the aggregate
-
by department
-
by service
-
by diagnosis
-
by no service
-
community
Pregunta 23
Pregunta
expense budget combines volume data from the statistics budget with detailed resource utilization data to forecast expenses
Respuesta
- True
- False
Pregunta 24
Pregunta
1. to be most useful, expenses must be broke down into ___ and ___ components.
2. like revenues, expenses must be forecasted at ____ levels
Respuesta
-
1. fixed and variable components
-
1. fixed and no variable components
-
2 . one
-
2. two
-
3. multiple
Pregunta 25
Pregunta
at larger organizations, each category will have a separate budget
Respuesta
- True
- False
Pregunta 26
Pregunta
for larger organizations, the _____ budget, focuses on _______ profitibiality, combines information from the ___ and expense budgets
Respuesta
-
operation budget
-
reality profitability
-
projected profitability
-
revenue
-
assests
-
small organizations may use a single operating budget in place of multiple budget types
Pregunta 27
Pregunta
Operating budget example, budget is divided into four parts.
choose 4.
Respuesta
-
volume assumptions
-
revenue assumptions
-
fixed cost assumptions
-
cost assumptions
-
PMPM statement
-
p&l statement
Pregunta 28
Pregunta
variance analysis is so useful to health service managers
Respuesta
- True
- False
Pregunta 29
Pregunta
in variance analysis, there are 3 types of data used.
1. static budget, which is the ___ budget, unadjusted for realized volume
2. the realized, or actual, data reflects _____ results
3. a flexible budget is one that has been ___ to reflect realized volume, using ___ assumption
Respuesta
-
1 original
-
1 unoriginal
-
1 new
-
2 before the fact results
-
2 after the fact results
-
3 adjusted, initial
-
3 unadjusted, initial
Pregunta 30
Pregunta
An initial budget — known as a "static" budget
Respuesta
- True
- False
Pregunta 31
Pregunta
flexible budget useful in variance analysis
Respuesta
- True
- False
Pregunta 32
Pregunta
if the number of enrollees had changed a __________ flexible budget would be required
Respuesta
-
a(n) old
-
third
-
second
-
first
Pregunta 33
Pregunta
costs are based on ___ volume applied to ____ assumptions
Respuesta
-
realized, first
-
realized, new
-
realized, initial
-
realized, usage
Pregunta 34
Pregunta
profit variance = ___ - ____
Respuesta
-
actual revenues - static revenues
-
static costs - actual costs
-
actual profit - static profit
Pregunta 35
Pregunta
profit variance = actual profit - static profit ap - sp
revenue variance = actual revenues - static revenues ar - sr
cost variance = static cost - actual costs sc - ac
Respuesta
-
yes
-
no
Pregunta 36
Pregunta
variance are defined such that a negative (-) variance is ____
Respuesta
-
good
-
bad
Pregunta 37
Pregunta
''variance analysis'' is applied to operating data such as ''census, labor hours, number of outpatient visits, and so on ''
often on a weekly (or even daily) basis
Respuesta
- True
- False
¿Quieres crear tus propios Tests gratis con GoConqr? Más información.