HSA 464 EXAM 1 (2025-2026 ) LATEST
QUESTIONS AND ANSWERS GRADED A+
The purpose of a nonprofit healthcare facility is to
Provide healthcare services to the community
What are the five management functions?
Planning, organizing, staffing, controlling, directing
The purpose of healthcare financial management is to:
Provide accounting and financial information that assists the manager in achieving
the organization's purpose
The most important objective of healthcare financial management is to
Generate income
,Managers typically represent a __________ view of ethics, whereas clinicians
typically represent a _________ view of ethics.
Utilitarianism; deontological
Healthcare expenditures as a percent of gross domestic product are about
18%
By type of service, the largest healthcare expenditure are
Hospitals
By source of funds, the largest healthcare payer is
Private Health Insurance
The worst example of conflict of interest is: (2)
-Conflict between the manager's duties to the organization
-When managers use their positions of authority for personal gains
, Why should financial managers be concerned with quality initiatives in the
healthcare organization?
Quality initiatives not only keep patients and accreditation organizations like The
Joint Commission satisfied, but they also contribute to the profitability of the
organization by reducing liability and cost
How would you predict that financial management and the management functions
will be important as healthcare changes in the future?
Financial management and management functions, if performed well, will keep
organizations in business in the turbulent economic environment predicted for the
future
The governing body of a healthcare organization is responsible for
Proper development, utilization, and maintenance of all resources
The Sarbanes-Oxley Act was enacted to: (2)
-Hold the CEO personally liable for financial misreporting
-Require for-profit organizations to follow strict corporate accountability standards
A Chief Financial Officer's (CFO) duties include which of the following: (2)
-Reporting to governing agencies
QUESTIONS AND ANSWERS GRADED A+
The purpose of a nonprofit healthcare facility is to
Provide healthcare services to the community
What are the five management functions?
Planning, organizing, staffing, controlling, directing
The purpose of healthcare financial management is to:
Provide accounting and financial information that assists the manager in achieving
the organization's purpose
The most important objective of healthcare financial management is to
Generate income
,Managers typically represent a __________ view of ethics, whereas clinicians
typically represent a _________ view of ethics.
Utilitarianism; deontological
Healthcare expenditures as a percent of gross domestic product are about
18%
By type of service, the largest healthcare expenditure are
Hospitals
By source of funds, the largest healthcare payer is
Private Health Insurance
The worst example of conflict of interest is: (2)
-Conflict between the manager's duties to the organization
-When managers use their positions of authority for personal gains
, Why should financial managers be concerned with quality initiatives in the
healthcare organization?
Quality initiatives not only keep patients and accreditation organizations like The
Joint Commission satisfied, but they also contribute to the profitability of the
organization by reducing liability and cost
How would you predict that financial management and the management functions
will be important as healthcare changes in the future?
Financial management and management functions, if performed well, will keep
organizations in business in the turbulent economic environment predicted for the
future
The governing body of a healthcare organization is responsible for
Proper development, utilization, and maintenance of all resources
The Sarbanes-Oxley Act was enacted to: (2)
-Hold the CEO personally liable for financial misreporting
-Require for-profit organizations to follow strict corporate accountability standards
A Chief Financial Officer's (CFO) duties include which of the following: (2)
-Reporting to governing agencies
