HCM 416 CHAPTER 4 QUIZ AND VERIFIED ANSWERS LATEST UPDATE

HCM 416 CHAPTER 4 QUIZ AND VERIFIED ANSWERS LATEST

UPDATE


Please select all the correct answers.



A balance sheet contains information about an organization's




a) Net Income

b) Assets

c) Liabilities

d) Equity

B, C & D



Assets, Liabilities, and Equity

This is a true/false question.



The basic accounting equation is



Assets = Liabilities - Equity

, a) True

b) False

b) False



Assets = Liability + Equity

Please match the term to the category that it best fits with.



For example, cash is an example of a current asset.



a) Inventories

b) Net Patient Accounts Receivable

c) Fixed Assets

d) Accounts Payable

e) Accrued Expenses

f) Debt Instruments with financing greater than 1 year.

a) Inventories - Current Assets



b) Net Patient Accounts Receivable - Current Assets



c) Fixed Assets - Net Property and Equipment



d) Accounts Payable - Current Liabilities