Http: //Strtutorials.Com/Acc-410-Wk-11-Final-Exam-Part-1-Part-2-All

zzTo Purchase Click Link Below:

http://strtutorials.com/ACC-410-WK-11-Final-Exam-Part-1-Part-2-All-Possible-Question-ACC41032.htm

ACC 410 WK 11 Final Exam Part 1 & Part 2 - All Possible Questions

TRUE/FALSE 

1.    The statement of financial position of a not-for-profit health care organization should distinguish among unrestricted, temporarily restricted, and permanently restricted net assets.

2.    The statement of activities of a not-for-profit health care organization should classify the revenues as unrestricted, temporarily restricted, or permanently restricted, but should report expenses only as decreases in unrestricted resources.

3.    Temporarily restricted funds related to plant and equipment generally account only for resources restricted to their purchase or construction, not for the plant and equipment itself, which are typically reported in the general operating fund.

4.    Not-for-profit health care organizations must use exactly three funds to account for the three categories of restrictiveness.

5.    In classifying expenses in the statement of activities of a not-for-profit health care organization, all expenses are reported exclusively within the temporarily restricted category.

6.    Unlike businesses, not-for-profit health care providers often serve patients who they know will be unable to pay the amounts billed.

7.    According to the AICPA audit guide, Health Care Organizations, revenue must be recorded using the patient discharge method.

8.    The Hill-Burton Act stipulates that hospitals receiving federal construction funds must provide a certain amount of charity care.

9.    Government hospitals are subject to the same FASB standards as private not-for-profit health care organizations.

10.  Private not-for-profit colleges and universities are subject to the same FASB standards as other not-for-profit entities.

MULTIPLE CHOICE 

1.    For a not-for-profit hospital, which of the...