HFMA'S CSAF 2025, CERTIFIED SPECIALIST ACCO
h h h h h
UNTING AND FINANCE | Q&A VERIFIED LATEST U
h h h h h h h
PDATE
Contribution Margin h
Difference between marginal revenue and marginal cost.
h h h h h h
Advance refunding enables providers:
h h h
to restructure their long-
h h h
term liabilities, reduce interest rates, or terminate restrictive bo
h h h h h h h h
nd covenants
h
Revenue usually is recorded when:
h h h h
an enrollee or the service is provided to a patient or resident.
h h h h h h h h h h h
Donations of noncash assets that are not long-
h h h h h h h
lived assets are recognized as revenue
h h h h h
in the period received.
h h h
Should be reported on the face of financial statements using eithe
h h h h h h h h h h
r a natural classification or a functional presentation.
h h h h h h h
,NOT - A. Not-for-profit organizations
h h h h
B. Governmental organizations
h h
C. Expenses
h
D. Healthcare organizations
h h
Farm animals h h
Yes
**No
Accounting for current liabilities of healthcare organizations i
h h h h h h h
s similar to that of
h h h . h h
**A. Other business enterprises
h h h
B. Deferred compensation arrangements
h h h
C. Governmental healthcare entities
h h h
D. Compensated absences
h h
What is the purpose of long-term debt?
h h h h h h
**A. To satisfy capital needs.
h h h h
B. To permit healthcare organizations to borrow funds for capital
h h h h h h h h h h
projects.
,C. To represent a liability that must be paid to the U.S. Treasury.
h h h h h h h h h h h h
D. To disclose information about contractual limits.
h h h h h h
Regularly recurring or periodic expenses, such as utilities and tax
h h h h h h h h h
es
**Yes
h No
Non-qualified deferred compensation
h h
**Yes
h No
The healthcare organization's projection of costs
h h h h h
**Yes
h No
Any trade or business carried on by a 501(c)(3) organization, or
h h h h h h h h h h h
by a governmental college or university, primarily for the
h h h h h h h h
, convenience of its members, students, patients, officers, or empl
h h h h h h h h
oyees.
A. UBI condition
h h
**B. UBI excluded activity
h h h
Which control budget places the responsibility for meeting budg
h h h h h h h h
et targets on departmental or service managers?
h h h h h h
**A. Operating budget
h h
B. Capital budget
h h
C. Cash budget
h h
D. Control budget
h h
No part of the entity's net earnings, either directly or indirectly, i
h h h h h h h h h h h
nures to any private shareholder or individual.
h h h h h h
**Yes
h No
Allow the parties to combine their financial resources and may
h h h h h h h h h h
give them access to additional sources of capital.
h h h h h h h
**Benefit Ris h
k
h h h h h
UNTING AND FINANCE | Q&A VERIFIED LATEST U
h h h h h h h
PDATE
Contribution Margin h
Difference between marginal revenue and marginal cost.
h h h h h h
Advance refunding enables providers:
h h h
to restructure their long-
h h h
term liabilities, reduce interest rates, or terminate restrictive bo
h h h h h h h h
nd covenants
h
Revenue usually is recorded when:
h h h h
an enrollee or the service is provided to a patient or resident.
h h h h h h h h h h h
Donations of noncash assets that are not long-
h h h h h h h
lived assets are recognized as revenue
h h h h h
in the period received.
h h h
Should be reported on the face of financial statements using eithe
h h h h h h h h h h
r a natural classification or a functional presentation.
h h h h h h h
,NOT - A. Not-for-profit organizations
h h h h
B. Governmental organizations
h h
C. Expenses
h
D. Healthcare organizations
h h
Farm animals h h
Yes
**No
Accounting for current liabilities of healthcare organizations i
h h h h h h h
s similar to that of
h h h . h h
**A. Other business enterprises
h h h
B. Deferred compensation arrangements
h h h
C. Governmental healthcare entities
h h h
D. Compensated absences
h h
What is the purpose of long-term debt?
h h h h h h
**A. To satisfy capital needs.
h h h h
B. To permit healthcare organizations to borrow funds for capital
h h h h h h h h h h
projects.
,C. To represent a liability that must be paid to the U.S. Treasury.
h h h h h h h h h h h h
D. To disclose information about contractual limits.
h h h h h h
Regularly recurring or periodic expenses, such as utilities and tax
h h h h h h h h h
es
**Yes
h No
Non-qualified deferred compensation
h h
**Yes
h No
The healthcare organization's projection of costs
h h h h h
**Yes
h No
Any trade or business carried on by a 501(c)(3) organization, or
h h h h h h h h h h h
by a governmental college or university, primarily for the
h h h h h h h h
, convenience of its members, students, patients, officers, or empl
h h h h h h h h
oyees.
A. UBI condition
h h
**B. UBI excluded activity
h h h
Which control budget places the responsibility for meeting budg
h h h h h h h h
et targets on departmental or service managers?
h h h h h h
**A. Operating budget
h h
B. Capital budget
h h
C. Cash budget
h h
D. Control budget
h h
No part of the entity's net earnings, either directly or indirectly, i
h h h h h h h h h h h
nures to any private shareholder or individual.
h h h h h h
**Yes
h No
Allow the parties to combine their financial resources and may
h h h h h h h h h h
give them access to additional sources of capital.
h h h h h h h
**Benefit Ris h
k
