Question

QUESTION 1

1. Which of the following is not an element of financial management?

   		Organizing
   		Planning
   		Controlling
   		Communicating

2 points   

QUESTION 2

1. The Chart of Accounts is

   		Something required by Medicare
   		A listing of bills to be paid
   		A listing of the organization's accounts
   		A listing of payments owed to the organization

2 points   

QUESTION 3

1. An organization's fiscal year begins on

   		January 1
   		October 1
   		June 30
   		Any date that it selects

2 points   

QUESTION 4

1. A Department Manager should receive organization-produced routine reports of their unit's financial activities each:

   		Year
   		Quarter
   		Month
   		Whenever something changes

2 points   

QUESTION 5

1. A contractual allowance is the difference between the organization's full-established rate and:

   		The agreed upon managed care rate
   		The amounts not paid by patients
   		The rate paid to all practices in the same specialty
   		None of the above answers are correct

Answer 1

As per rules I am answering the first 4 subparts of the question

1: Communicating

The four basic elements of financial management are planning, organizing, leading and controlling.

2: A listing of the organization's accounts

The chart of accounts is the list of accounts maintained by the organization. These are the different heads under which the accounting function is performed. Other options are invalid

3: October 1

The fiscal year begins on 1^st of October and ends on 30^th of September.

4: Whenever something changes

There is no specific date of receiving the reports, rather than report should be received as per requirements and whenever something changes in the department.