TCO 4 Budgets Cover A Period Of 2 To 5 Years
1tco 4 Budgets Normally Cover A Period Ofpoints 55 Years2 Yea
1. (TCO 4) Budgets normally cover a period of: (Points : years 2 years 3 years 1 year)
2. (TCO 4) The following is an example of a _____________ budget: "The budget for the radiology department is different at 90 percent occupancy than at 80 percent occupancy." (Points : 5) rolling flexible forecast fixed
3. (TCO 4) Efficiency is a relationship between: (Points : 5) outputs and organizational goals inputs and outputs inputs and organizational goals none of the above
4. (TCO 3) Which of the following is the first step in any budgetary process? (Points : 5) define standard treatment protocols define required departmental volumes define standard cost profiles define volumes of patients
5. (TCO 3) Assume that the clinic used the price that they need to exactly break even at 10,000 shots. Fewer people than expected showed up and purchased the flu shot. The clinic would: (Points : 5) earn a profit. have a loss. break-even. have a reduced unit contribution margin. none of the above.
6. (TCO 2) A statement that reports the financial position (assets, liabilities, and stockholders' equity) of an accounting entity at a point in time is called a(an): (Points : 5) income statement statement of retained earnings balance sheet statement of cash flows report of management
7. (TCO 2) The _____ is a way for organizations to improve the collection and communication of financial and operating information. (Points : 5) performance dashboard financial bottom-line holistic perspective performance perspective
8. (TCO 4) Formulate your answer based on the below information. The intensity of care delivered dropped from a budgeted case mix of 0.90 to an actual case mix of 0.85. What dollar effect did this have on actual costs? You have been asked by management to explain the variances in costs under your inpatient capitated contract. The following data is provided. Use the following data to calculate the variances. Budget Actual inpatient costs $12,568,500 $16,618,350 members 42,000 admission rate 0.095 case mix index 0.85 cost per case (CMI = 1.0) $4,750 $4,900 (Points : 10)
9. (TCO 2) What is the basic accounting equation? (Points : 10)
10. (TCO 4) What is the amount of variance that is attributed to the difference between the budgeted and actual wage rate per hour? Use the following data to calculate the variances. The following information has been prepared for a home health agency. Budget actual wage rate per hour $16.00 $17.00 fixed hours variable hours per relative value unit (RVU) 1.1 relative value units (RVUs) 1,200 total labor hours 1,640 labor costs $21,120 $27,880 cost per RVU $21.12 $23.23 budgeted costs at actual volume would be $25,344 ($21.12 × 1,200), and the total variance to be explained is $2,536 unfavorable ($27,880 - $25,344). Be sure to specify whether the variance is favorable or unfavorable. (Points : 5)
11. (TCO 2) What are the major reasons for accrual accounting? (Points : 5)
12. (TCO 2) What are the double-entry accounting system and the duality concept? how are they related? (Points : 5)
13. (TCO 1) What are the three primary forms of legal business organization? What are some of the advantages and disadvantages of each form? (Points : 20)
14. (TCO 2) List and describe the three categories of net assets. (Points : 10)
15. (TCO 6) The goals of leadership for quality include improving: (Points : 5) people processes products all of the above
16. (TCO 6) Which of the following is an important step in executing a strategy? (Points : 5) communicate build capabilities identify advocates and resisters all of the above
17. (TCO 3) The framework for company-wide quality control (CWQC) in Japan is provided by _____. (Points : 5) the Shewhart Award the Grant Award the Deming Prize the Baldrige Award
18. (TCO 3) ISO 9001 provides specific requirements for _____. (Points : 5) terms and definitions used, a quality management system, improving quality, outgoing quality levels
19. (TCO 1) Which of the following is a criticism of the product-based definition of quality? (Points : 5) quality is often mistakenly assumed to be related to price. not all products are fit for use. consumers frequently confuse products with services. product-based quality cannot be defined precisely; you just know it when you see it.
20. (TCO 1) During the Middle Ages, quality was built into the final product. This approach to quality was lost with the advent of _____. (Points : 5) engineering schools craft guilds automation the Industrial Revolution
21. (TCO 1) _____ is credited with developing control charts. (Points : 5) Eli Whitney Frederick W. Taylor Walter Shewhart W. Edwards Deming
22. (TCO 2) Which of the following organizations does not have a role to play in assuring quality in a manufacturing firm? (Points : 5) sales purchasing product design none of the above
23. (TCO 2) Services are generally _____ intensive, whereas manufacturing is more _____ intensive. (Points : 5) labor, equipment, quality, quantity, input, output, profit, cost
24. (TCO 2) A key element of total quality is: (Points : 5) obsession with quality, worker healthcare, legal services, inventory management
25. (TCO 2) Systems thinking can be applied to the analysis of _____. (Points : 5) manufacturing processes but not service processes, service processes but not manufacturing processes, any organizations, neither manufacturing processes nor service processes
26. (TCO 3) Companies have found that the real value of the Malcolm Baldrige Award is in the ______. (Points : 5) winning an award, gaining prestige, preparation, providing good advertising
27. (TCO 5) Bill designs and maintains the inventory management software that his coworker John uses when customers call the company to place an order for merchandise. Bill is John's _____. (Points : 5) internal customer, external customer, internal supplier, external supplier
28. (TCO 5) Moments of truth are instances when which of the following occurs? (Points : 5) checking the validity of your conclusions, speculating about the results, analyzing the results, a new competitor enters the market with higher quality.
29. (TCO 7) Which of the following is not considered a hard measure of the effectiveness of human-resource management? (Points : 5) fear, loss of control, both of the above, none of the above.
30. (TCO 4) The need to remove barriers to pride in workmanship is associated with which of the following individuals? (Points : 5) Crosby, Juran, Deming, Taguchi
31. (TCO 4) Which of the following represents a point of disagreement between Deming and Juran? (Points : 5) upper management requires training and experience in managing for quality, change can be accomplished within the organization's existing structure, commitment by top management is a necessity, employees need to know who uses their products.
32. (TCO 8) A distinguishing feature of quality circles is that (Points : 5) quality circles are subcommittees of problem-solving teams, quality circles work on pre-chosen problems, quality circles do not meet regularly, are voluntary.
33. Essay Question: 1. (TCO 4) Explain the term “cost of poor quality”. (Points : 30)
34. Essay Question: 2. (TCO 1) Explain the advantages to an organization of adopting ISO 9000 International Standards for Quality Management Systems. (Points : 30)