NAB Study Guide Questions and Answers (2023) (Verified Answers by Expert)

1. Education and training programsTo obtain more accurate cost estimatesand more control over costs (participatory budget making process - others are more likely to consider the budget legitimate). 2. A change in which one of the following is not likely to be the cause of a budget varianceThe personal needs allowance. 3. "Assets are always equal to the sum of liabilities plus owners' equity" is the basic concept in the organization of theBalance Sheet. 4. The financial success or failure of a nursing facility is usually measured by itsReturn on Equity (net income - i.e., revenues in excess of expenses) anddivides it by owners' equity).2 / 11 5. If a facility has a current ratio greater than 1, which of the following statements is most likely to be trueIt will be able to pay its bills on time (currentratio greater than 1 means that the organization's current assets exceed its currentliabilities, and this indicates a good ability to pay short-term liabilities as they comein). 6. A check should generally be issued only when which one of the following is available and properly signedPurchase Order. 7. The importance of matching revenue with the expenses incurred in generating those revenues is the reason for recordin