Clm 355 - Study guides, Class notes & Summaries

Clm 355 quiz 1 and 2 exam with correct answers 2024

CLM 355 Quiz 1 and 2

Clm 355 quiz 1 and 2 exam with correct answers 2024

Which of the following statements about finance, accounting, and financial management is most correct? A. Accounting is of no value in decision making B. Accounting provides the theory and concepts necessary to help managers make better decisions C. Financial management involves the measurement, in financial terms, of operational events that affect the resources and financing of an organization D. The primary role of finance is to plan for, acquire, and use resources to maximize the efficien...

Which of the following are methods for costing at the service level? A. Cost-to-charge ratio B. Relative value unit (RVU) C. Activity-based costing (ABC) D. Answers a. and b. are both correct E. Answer a., b., and c. are all correct - correct answer E Which of the following pricing strategies is most likely to lead to long-term financial sustainability? A. Full cost B. Marginal cost C. Direct cost D. Indirect cost E. Variable cost - correct answer A T/F? When a provider has marke...