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61. Which of the following tyP ganizations follow FASB statem Investor-Owned Private Not-for-Pro Organization Health Care Enterprises

61. Which of the following tyP ganizations follow FASB statem Investor-Owned Private Not-for-Pro Organization Health Care Enterprises

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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61. Which of the following types of health care or- ganizations follow FASB statements? TIT Investor-Owned Health Care Private Governmental Нealth Enterprises Yes Not-for-Profit Organizations Organizations Yes No Yes a. b. Yes Yes с. No No Yes d. Yes No Yes 62. Which of the following types of health care or- ganizations recognize depreciation expense? Investor-Owned Health Care Governmental Health Care Not-for-Profit Organizations Yes Enterprises Yes Yes No Organizations No Yes Yes а. No No с. d. Yes Yes Yes 63. In accruing patient charges for the current month, which one of the following accounts should a hospi- tal credit? a. Accounts Payable b. Patient Service Revenues c. Unearned Revenue d. Deferred Revenue 64. According to the AICPA Audit Guide, hospitals should prepare which of the following financial statements? Statement of Changes In Net Assets Yes Statement of Operations No а. b. Yes Yes Yes No No с. d. No
Transcribed Image Text:61. Which of the following types of health care or- ganizations follow FASB statements? TIT Investor-Owned Health Care Private Governmental Нealth Enterprises Yes Not-for-Profit Organizations Organizations Yes No Yes a. b. Yes Yes с. No No Yes d. Yes No Yes 62. Which of the following types of health care or- ganizations recognize depreciation expense? Investor-Owned Health Care Governmental Health Care Not-for-Profit Organizations Yes Enterprises Yes Yes No Organizations No Yes Yes а. No No с. d. Yes Yes Yes 63. In accruing patient charges for the current month, which one of the following accounts should a hospi- tal credit? a. Accounts Payable b. Patient Service Revenues c. Unearned Revenue d. Deferred Revenue 64. According to the AICPA Audit Guide, hospitals should prepare which of the following financial statements? Statement of Changes In Net Assets Yes Statement of Operations No а. b. Yes Yes Yes No No с. d. No
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