1. By type of service, the largest healthcare expenditure arehospitals.physicians.pharmaceuticals.nursing homes.2. An inurement isa tax deduction given to for-profit facilities that meet certain quality standards.an incentive given to physicians for providing high-quality care.the provision of a benefit to an employee that is greater than the value of their work.a non-business-related bonus designed to induce referrals.3. The organization must calculate age of plant ratio to determine whether an older facility is causinghigh total asset turnover.high fixed asset turnover.high current asset turnover.high inventory turnover.4. A current ratio isnondirectional.the basic indicator of financial liquidity.calculated by dividing total current assets by total current liabilities.All of the above5. Historically, the purpose of finance was toborrow and invest the funds necessary for the organization to achieve its purpose.analyze information provided by managerial accounting to evaluate past decisions and make strong decisions in the future.keep an organization competitive in the industry.make a profit for the organization

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Answered: 1. By type of service, the largest…

Phlebotomy Essentials

6th Edition

ISBN:9781451194524

Author:Ruth McCall, Cathee M. Tankersley MT(ASCP)

Publisher:Ruth McCall, Cathee M. Tankersley MT(ASCP)

Chapter1: Phlebotomy: Past And Present And The Healthcare Setting

Section: Chapter Questions

Problem 1SRQ

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1. By type of service, the largest healthcare expenditure are

hospitals.
physicians.
pharmaceuticals.
nursing homes.

2. An inurement is

a tax deduction given to for-profit facilities that meet certain quality standards.
an incentive given to physicians for providing high-quality care.
the provision of a benefit to an employee that is greater than the value of their work.
a non-business-related bonus designed to induce referrals.

3. The organization must calculate age of plant ratio to determine whether an older facility is causing

high total asset turnover.
high fixed asset turnover.
high current asset turnover.
high inventory turnover.

4. A current ratio is

nondirectional.
the basic indicator of financial liquidity.
calculated by dividing total current assets by total current liabilities.
All of the above

5. Historically, the purpose of finance was to

borrow and invest the funds necessary for the organization to achieve its purpose.
analyze information provided by managerial accounting to evaluate past decisions and make strong decisions in the future.
keep an organization competitive in the industry.
make a profit for the organization

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