Deck 10: Budget Concepts for Client Care

Question 1

Which of these terms refers to a report that documents and explains when a unit deviates from the approved budget?

A) monthly report
B) budget report
C) variance report
D) cost centre report

Answer 1

variance report

Question 2

What is the term for the number and type of staff needed for a procedure or to care for a fixed number of clients?

A) staffing model
B) direct patient preparation
C) pre-procedure care
D) post-procedure care

Answer 2

staffing model

Question 3

Once you have prepared your program or departmental budget,who will have the responsibility for a final decision regarding acceptance of the budget?

A) department managers
B) VP Nursing
C) finance and operations senior management
D) Minister of Health

Answer 3

finance and operations senior management

Question 4

Who is responsible for controlling a budget?

A) Chief Nursing Officer
B) finance officer
C) accountants
D) unit or department manager

Question 5

Which of these documentation tools would you use to provide a snapshot of information and activity at a specific time?

A) strategic plan
B) variance report
C) balanced budget
D) balanced scorecard

Question 6

What is the usual period for which an operating budget is developed?

A) 1 year
B) 3 years
C) 5 years
D) 10 years

Question 7

In terms of the budget,which category would include a donation coming to an organization?

A) profit
B) revenue
C) dashboard
D) variance

Question 8

Which type of budget accounts for both revenue and expenditures associated with the day-to-day functions of a department or organization?

A) an operating budget
B) a capital budget
C) a construction budget
D) an accounting budget

Question 9

Which of these business aspects refers to the recording and reporting of financial transactions and data?

A) operating plans
B) accounting
C) financial indicators
D) budget development

Question 10

Which of these terms refers to a budget that indicates designated funds for the purchase of major new equipment?

A) unit budget
B) construction budget
C) capital budget
D) equipment budget

Question 11

What is the title of the body that accredits health facilities in Canada?

A) Accreditation Canada (AC)
B) Health Services Standards Organization (HSSO)
C) Canadian Accreditation Service (CSA)
D) Canadian Council on Health Services Accreditation (CCHSA)

Question 12

What percent of operating costs is made up of salaries and benefits?

A) 90 percent
B) 80 percent
C) 50 percent
D) 30 percent

Question 13

What are the resources used to deliver services collectively referred to as?

A) expenditures
B) labour costs
C) supplies
D) payments

Question 14

Which of these categories includes investments and billable client services?

A) reimbursement
B) expenditures
C) revenue
D) line item

Question 15

Which kind of budget takes into account demographics,regulations,and strategic plans?

A) a capital budget
B) an annual budget
C) a balanced budget
D) a project budget

Question 16

Which of the following are considerations in determining a capital expense?

A) effectiveness and equipment life expectancy
B) cost and clinical application
C) cost and equipment life expectancy
D) number of clients to be served and cost

Question 17

What type of budget includes building permits,materials,and labour costs?

A) capital budget
B) construction budget
C) balanced budget
D) operating budget

Question 18

In relation to budget preparation,which of these terms refers to the units or subsections within a facility?

A) financial unit
B) cost sections
C) compartments
D) cost centres

Question 19

Which of these factors typically serves as the baseline for preparation of an operating budget?

A) government funding
B) past performance
C) the strategic plan
D) increased demand

Question 20

What is the process that details the cost of every supply item and the frequency of use?

A) accounting
B) zero-based budgeting
C) operating budget
D) capital budget