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MHA 706 Financial Management Midterm Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed $11.69   Add to cart

Exam (elaborations)

MHA 706 Financial Management Midterm Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed

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  • Course
  • MHA 706
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  • MHA 706

healthcare finance -:- the accounting and financial management principles and practices used within health services organizations to ensure the financial well-being of the enterprise healthcare sector -:- consists of a diverse collection of industries that involve the healthcare of the pop...

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  • September 3, 2024
  • 33
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MHA 706
  • MHA 706
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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



MHA 706 Financial Management Midterm
Questions & 100% Correct Answers- Latest
Test | Graded A+ | Passed
healthcare finance


✓ -:- the accounting and financial management principles and practices used within

health services organizations to ensure the financial well-being of the enterprise




healthcare sector


✓ -:- consists of a diverse collection of industries that involve the healthcare of the

population




provider


✓ -:- an organization that provides healthcare services




business


✓ -:- maintains financial viability by selling goods or services




pure charity


✓ -:- relies solely on contributions




1|Page | Grade A+| 2024/2025

,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

finance


✓ -:- consists of both accounting and financial management functions




primary role of finance


✓ -:- to plan for, acquire, and use resources to maximize the efficiency and value of the

enterprise




accounting


✓ -:- concerns the recording of economic events that reflect the operations, resources,

and financing of an organization




financial management


✓ -:- provides the theory, concepts, and tools necessary to help managers make better

financial decisions




planning and budgeting


✓ -:- involves evaluating the financial effectiveness of current operations and planning

for the future




financial reporting


2|Page | Grade A+| 2024/2025

,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

✓ -:- recording and reporting to outsiders the results of operations and current

financial status




capital budgeting


✓ -:- the process of analyzing and choosing new fixed assets




financing decisions


✓ -:- all organizations must raise capital to buy the assets necessary to support

operations




working capital management


✓ -:- a managerial accounting strategy focusing on maintaining efficient levels of both

components of working capital, current assets and current liabilities, in respect to

each other




contract management


✓ -:- the process of managing contract creation, execution and analysis to maximize

operational and financial performance at an organization, all while reducing

financial risk




financial risk management

3|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

✓ -:- the practice of economic value in a firm by using financial instruments to manage

exposure to risk, particularly credit risk and market risk




four C's


✓ -:- costs, cash, capital, and control




cost


✓ -:- a resource use associated with providing or supporting a specific service




chief financial officer


✓ -:- typically reports directly to the CEO




chief executive officer


✓ -:- responsible for all finance activities within the organization




comptroller


✓ -:- responsible for accounting and reporting activities




treasurer




4|Page | Grade A+| 2024/2025

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