health care finance!

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Which of the following statements best describes the revenue cycle?a. It focuses on cash management.b. It focuses on inventory management.c. It focuses on receivables management.d. It focuses on cash, inventory, and receivables management.e. It focuses on all activities associated with billing and collecting for services.Answer: _____2. The revenue cycle is composed of:a. Before service activitiesb. At-service activitiesc. After-service activitiesd. Monitoring and reporting activitiese. All of the above activitiesAnswer: _____3. True or False: Two important keys to successful revenue cycle management are information technology and electronic claims processing.a. Trueb. FalseAnswer: _____4. Which of the following techniques are used to monitor a business’s receivables?a. Average collection periodb. Aging schedulec. Collections budgetd. Both a. and b. abovee. a., b., and c. aboveAnswer: _____5. True or False: Float is the difference between the balance shown on the bank’s books and the balance on the business’s own checkbook.a. Trueb. FalseAnswer: _____6. True or False: A business’s float is maximized by accelerating disbursements and slowing receipts.a. Trueb. FalseAnswer: _____7. Businesses hold short-term securities for which of the following reasons?a. As a substitute for cashb. As a temporary repository for cash being accumulated for a specific purposec. As a buffer against bad debt losses.d. Both a. and b. abovee. a., b., and c. aboveAnswer: _____8. True or False: In general, short-term securities are chosen on the basis of safety; that is, protection of principal takes precedence over amount of return.a. Trueb. FalseAnswer: _____9. True or False: The goal of inventory management is to ensure that the stock-out rate is less than 10 percent, which means that the business runs out of less than 10 percent of its inventory items in any given year.a. Trueb. FalseAnswer: _____10. Which of the following inventory management techniques are currently being used by healthcare providers?a. Just-in-time systemsb. Stockless systemsc. Consigned inventory systemsd. Both a. and b. abovee. a., b., and c. aboveAnswer: _____11. Which of the following operating metrics is used to monitor labor productivity?a. Profit per dischargeb. Length of stay (LOS)c. FTEs per occupied bedd. Medicare percentagee. Outpatient revenue percentageAnswer: _____12. Which of the following techniques are used to help interpret operating metrics?a. Trend analysisb. Comparative analysisc. Scale analysisd. Both a. and b. abovee. a., b., and c. aboveAnswer: _____13. Suppose that a clinic has third-party payer revenues of $10,000 a day. On average, it takes the clinic 50 days to collect from its payers. What will be the steady state receivables balance?a. $ 10,000b. $ 50,000c. $250,000d. $500,000e. $750,000Answer: _____14. Suppose a hospital writes checks of $100,000 per day and it takes, on average, 7 days for those to be received and clear the banking system. Furthermore, the hospital receives $120,000 in checks daily that take 4 days to be deposited and credited. What is the hospital’s float?a. $100,000b. $120,000c. $220,000d. $240,000e. $440,000Answer: _____