Chapter 18- solution

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Unformatted text preview: 1. Reciprocal transfers where both parties give and receive something of value are A. contributed services. B. unconditional promises to give. C. endowment transactions. D. exchange transactions. E. required contributions. 1. Reciprocal transfers where both parties give and receive something of value are A. contributed services. B. unconditional promises to give. C. endowment transactions. D. exchange transactions. E. required contributions 2. Which of the following types of health care organizations follow FASB Accounting Standards Codification for GAAP? A. Entry A. B. Entry B. C. Entry C. D. Entry D. E. Entry E. 2. Which of the following types of health care organizations follow FASB Accounting Standards Codification for GAAP? A. Entry A. B. Entry B. C. Entry C. D. Entry D. E. Entry E. 2. In accruing patient charges for the current month, which one of the following accounts should a hospital credit? A. Accounts Payable. B. Deferred Revenue. C. Unearned Revenue. D. Patient Service Revenues. E. Accounts Receivable. 3. In accruing patient charges for the current month, which one of the following accounts should a hospital credit? A. Accounts Payable. B. Deferred Revenue. C. Unearned Revenue. D. Patient Service Revenues. E. Accounts Receivable. 4. Which account would be credited in recording a gift of medicine to a nursing home from an outside party? A. Nonoperating Gain - Contributions. B. Contractual Adjustments. C. Patient Service Revenues. D. Drugs and Medicines. E. Nonoperating Revenues - Contribution. BB 4. Which account would be credited in recording a gift of medicine to a nursing home from an outside party? A. Nonoperating Gain - Contributions. B. Contractual Adjustments. C. Patient Service Revenues. D. Drugs and Medicines. E. Nonoperating Revenues - Contribution. 5. Which one of the following financial statements is not required by GAAP regarding a voluntary health and welfare organization? A. Statement of Financial Position. B. Statement of Functional Expense. C. Statement of Activities and Changes in Net Assets. D. Statement of Cash Flows. E. Statement of Operations. 5. Which one of the following financial statements is not required by GAAP regarding a voluntary health and welfare organization? A. Statement of Financial Position. B. Statement of Functional Expense. C. Statement of Activities and Changes in Net Assets. D. Statement of Cash Flows. E. Statement of Operations. 6. Unconditional transfers of cash or other resources to an entity in a voluntary nonreciprocal transaction is the GAAP definition for A. miscellaneous revenues. B. contributions. C. unconditional promises to give. D. exchange transactions. E. pledges. 6. Unconditional transfers of cash or other resources to an entity in a voluntary nonreciprocal transaction is the GAAP definition for A. miscellaneous revenues....
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