Exam 12: Accounting for Hospitals and Other Health Care Providers

During the month of December, Godiva Hospital billed patients $45,000, billed 3^rd parties $70,000 and provided $10,000 of charity care. How much should Godiva report as Accounts Receivable?

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(Multiple Choice)

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Question 1

Correct Answer:

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Which of the following health care organizations have level "A" GAAP established by the Governmental Accounting Standards Board?

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(Multiple Choice)

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Question 2

Correct Answer:

Verified

Which of the following is true regarding revenue recognition for health care organizations?

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(Multiple Choice)

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Question 3

Correct Answer:

Verified

A private sector, not-for-profit hospital received a pledge of $100,000 in 2008, with no purpose restriction. The pledge card indicated that the funds were to be used in 2009. Cash was turned over to the hospital in 2009. The not-for-profit hospital would recognize contribution revenue in:

(Multiple Choice)

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Question 4

Which of the following is a required statement for a governmental hospital?

(Multiple Choice)

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Question 5

Both public and private sector health care organizations measure transactions and events similarly, but use different equity accounts.

(True/False)

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Question 6

Which of the following is true regarding the reporting of expenses by private sector, not-for-profit hospitals?

(Multiple Choice)

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Question 7

Private sector, not-for-profit health care organizations have a category of assets called "Assets Whose Use is Limited." That category refers to:

(Multiple Choice)

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Question 8

Not-for-profit health care entities are distinguished from voluntary health and welfare organizations in the following manner:

(Multiple Choice)

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Question 9

The AICPA Health Care Guide requires a performance indicator in the financial statements of private sector not-for-profit health care providers.

(True/False)

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Question 10

Both commercial and private sector not-for-profit hospitals and health care providers follow FASB Statements 116 and 117.

(True/False)

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Question 11

Which of the following could be recognized as contributed services revenue by a not-for-profit hospital?

(Multiple Choice)

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Question 12

The difference between the financial statements of private not-for profit hospitals and private not-for-profit voluntary health and welfare organizations is:

(Multiple Choice)

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Question 13

The AICPA Health Care Guide provides reporting requirements for all of the following organizations except:

(Multiple Choice)

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Question 14

Which of the following are true with respect to health care organizations?

(Multiple Choice)

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Question 15

Health care organizations that are privately owned and operated to provide a return to investors follow FASB standards excluding those standards specifically for not-for-profits.

(True/False)

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Question 16

Record the following transactions on the books of St. Thomas Hospital, a private not-for-profit hospital. (a) The Hospital billed patients $150,000 for services rendered. Of this amount, 2.5% is expected to be uncollectible. Contractual adjustments with insurance companies are expected to total $29,000. (b) The Hospital received $240,000 in pledges of support in a campaign undertaken to purchase new MMR equipment. All of the pledges are payable within one year and 8% are expected to be uncollectible. (c) Charity care in the amount of $14,000 (at standard charges) was performed on an indigent patient. (d) The Hospital collected $111,400 for the services performed in (1) above. Actual contractual adjustments for these services amounted to $31,600. The remaining receivables were written off as uncollectible.

(Essay)

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Question 17

Identify income items which should not be included in the determination of the performance indicator by a hospital

(Essay)

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Question 18

Health care organizations require a "performance indicator" in the statement displaying revenues and expenses. Which of the following must be reported below that performance indicator?

(Multiple Choice)

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Question 19

Private not-for-profit health care organizations follow standards set by:

(Multiple Choice)

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Question 20

Showing 1 - 20 of 91

During the month of December, Godiva Hospital billed patients $45,000, billed 3^rd parties $70,000 and provided $10,000 of charity care. How much should Godiva report as Accounts Receivable?

Which of the following health care organizations have level "A" GAAP established by the Governmental Accounting Standards Board?

Which of the following is true regarding revenue recognition for health care organizations?

A private sector, not-for-profit hospital received a pledge of $100,000 in 2008, with no purpose restriction. The pledge card indicated that the funds were to be used in 2009. Cash was turned over to the hospital in 2009. The not-for-profit hospital would recognize contribution revenue in:

Which of the following is a required statement for a governmental hospital?

Both public and private sector health care organizations measure transactions and events similarly, but use different equity accounts.

Which of the following is true regarding the reporting of expenses by private sector, not-for-profit hospitals?

Private sector, not-for-profit health care organizations have a category of assets called "Assets Whose Use is Limited." That category refers to:

Not-for-profit health care entities are distinguished from voluntary health and welfare organizations in the following manner:

The AICPA Health Care Guide requires a performance indicator in the financial statements of private sector not-for-profit health care providers.

Both commercial and private sector not-for-profit hospitals and health care providers follow FASB Statements 116 and 117.

Which of the following could be recognized as contributed services revenue by a not-for-profit hospital?

The difference between the financial statements of private not-for profit hospitals and private not-for-profit voluntary health and welfare organizations is:

The AICPA Health Care Guide provides reporting requirements for all of the following organizations except:

Which of the following are true with respect to health care organizations?

Health care organizations that are privately owned and operated to provide a return to investors follow FASB standards excluding those standards specifically for not-for-profits.

Identify income items which should not be included in the determination of the performance indicator by a hospital

Health care organizations require a "performance indicator" in the statement displaying revenues and expenses. Which of the following must be reported below that performance indicator?

Private not-for-profit health care organizations follow standards set by:

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Trust Funds

Government-Wide Statements, Capital Assets, Long-Term Debt

Accounting for Special-Purpose Entities, Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

College and University Accounting Private Institutions

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Filters

Exam 12: Accounting for Hospitals and Other Health Care Providers

During the month of December, Godiva Hospital billed patients $45,000, billed 3rd parties $70,000 and provided $10,000 of charity care. How much should Godiva report as Accounts Receivable?

Which of the following health care organizations have level "A" GAAP established by the Governmental Accounting Standards Board?

Which of the following is true regarding revenue recognition for health care organizations?

A private sector, not-for-profit hospital received a pledge of $100,000 in 2008, with no purpose restriction. The pledge card indicated that the funds were to be used in 2009. Cash was turned over to the hospital in 2009. The not-for-profit hospital would recognize contribution revenue in:

Which of the following is a required statement for a governmental hospital?

Both public and private sector health care organizations measure transactions and events similarly, but use different equity accounts.

Which of the following is true regarding the reporting of expenses by private sector, not-for-profit hospitals?

Private sector, not-for-profit health care organizations have a category of assets called "Assets Whose Use is Limited." That category refers to:

Not-for-profit health care entities are distinguished from voluntary health and welfare organizations in the following manner:

The AICPA Health Care Guide requires a performance indicator in the financial statements of private sector not-for-profit health care providers.

Both commercial and private sector not-for-profit hospitals and health care providers follow FASB Statements 116 and 117.

Which of the following could be recognized as contributed services revenue by a not-for-profit hospital?

The difference between the financial statements of private not-for profit hospitals and private not-for-profit voluntary health and welfare organizations is:

The AICPA Health Care Guide provides reporting requirements for all of the following organizations except:

Which of the following are true with respect to health care organizations?

Health care organizations that are privately owned and operated to provide a return to investors follow FASB standards excluding those standards specifically for not-for-profits.

Identify income items which should not be included in the determination of the performance indicator by a hospital

Health care organizations require a "performance indicator" in the statement displaying revenues and expenses. Which of the following must be reported below that performance indicator?

Private not-for-profit health care organizations follow standards set by:

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Trust Funds

Government-Wide Statements, Capital Assets, Long-Term Debt

Accounting for Special-Purpose Entities, Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

College and University Accounting Private Institutions

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Filters

During the month of December, Godiva Hospital billed patients $45,000, billed 3^rd parties $70,000 and provided $10,000 of charity care. How much should Godiva report as Accounts Receivable?