HFMA CSAF CERTIFIED SPECIALIST
ACCOUNTING AND FINANCE
CONCLUDING REVIEW SHEET PRACTICE
SOLUTION BUNDLED FULLY VERIFIED
ONE HUNDRED PERCENT PASS
GUARANTEED
⩥ Equipment and lease renewal options are determined by the
fair market value of the equipment.
Answer: A. Capital Lease
**B. Operating Lease
⩥ Claims would be covered in the period they were identified
and reported
Answer: A. Occurrence basis
**B. Claims-made basis
⩥ Which use of ratio analysis will help an organization decide
how much of a debt burden it can feasibly assume?
Answer: NOT- A. Assess short-and long-range financial plans
B. Assessing debt capacity
,C. Monitoring debt covenant compliance
D. Pricing of services
⩥ Revenue is reported on the accrual basis matching the period
in which the care is provided to the patient.
Answer: **A. Patient Service Revenues
B. Premium Revenues
⩥ Charitable Donations
Answer: Yes
**No
⩥ States receive funding from the federal government based on
the state's per capita income
Answer: A. Medicare
**B. Medicaid
⩥ Should report their total income or loss from operations on a
statement of revenues and expenses. In many instances the
statement also includes the change in net position.
Answer: A. Not-for-profit organizations
,B. Governmental organizations
C. Expenses
NOT - D. Healthcare organizations
⩥ Externally designated for expenditure in the acquisition or
construction of noncurrent assets
Answer: **Yes
No
⩥ The cost of extending the lease for the entire useful life of the
equipment may be more than the actual purchase price.
Answer: A. Advantage
**B. Disadvantage
⩥ De minimis fringe benefits
Answer: Yes
**No
⩥ The amount of cash required to plan and implement an
investment proposal.
Answer: A. Cash Outflow
, B. Cash Inflow
C. Economic Life
NOT - D. Opportunity Cost of Funds
⩥ Opportunities passed by because they were identified as too
risky.
Answer: **A. Cost
B. Benefit
⩥ The value lost from those incidents that could not be
prevented.
Answer: **A. Cost
B. Benefit
⩥ To assert to and report on the effectiveness of the company's
internal controls and procedures for financial reporting on an
annual basis.
Answer: Yes
**No
ACCOUNTING AND FINANCE
CONCLUDING REVIEW SHEET PRACTICE
SOLUTION BUNDLED FULLY VERIFIED
ONE HUNDRED PERCENT PASS
GUARANTEED
⩥ Equipment and lease renewal options are determined by the
fair market value of the equipment.
Answer: A. Capital Lease
**B. Operating Lease
⩥ Claims would be covered in the period they were identified
and reported
Answer: A. Occurrence basis
**B. Claims-made basis
⩥ Which use of ratio analysis will help an organization decide
how much of a debt burden it can feasibly assume?
Answer: NOT- A. Assess short-and long-range financial plans
B. Assessing debt capacity
,C. Monitoring debt covenant compliance
D. Pricing of services
⩥ Revenue is reported on the accrual basis matching the period
in which the care is provided to the patient.
Answer: **A. Patient Service Revenues
B. Premium Revenues
⩥ Charitable Donations
Answer: Yes
**No
⩥ States receive funding from the federal government based on
the state's per capita income
Answer: A. Medicare
**B. Medicaid
⩥ Should report their total income or loss from operations on a
statement of revenues and expenses. In many instances the
statement also includes the change in net position.
Answer: A. Not-for-profit organizations
,B. Governmental organizations
C. Expenses
NOT - D. Healthcare organizations
⩥ Externally designated for expenditure in the acquisition or
construction of noncurrent assets
Answer: **Yes
No
⩥ The cost of extending the lease for the entire useful life of the
equipment may be more than the actual purchase price.
Answer: A. Advantage
**B. Disadvantage
⩥ De minimis fringe benefits
Answer: Yes
**No
⩥ The amount of cash required to plan and implement an
investment proposal.
Answer: A. Cash Outflow
, B. Cash Inflow
C. Economic Life
NOT - D. Opportunity Cost of Funds
⩥ Opportunities passed by because they were identified as too
risky.
Answer: **A. Cost
B. Benefit
⩥ The value lost from those incidents that could not be
prevented.
Answer: **A. Cost
B. Benefit
⩥ To assert to and report on the effectiveness of the company's
internal controls and procedures for financial reporting on an
annual basis.
Answer: Yes
**No
