(Multiple choice)

1. In accordance with its established billing rates, Alpha Hospital provided services amounting to $14 million during the year ended December 31, 2012. Included in the $14 million were contractual adjustments of $3 million and charity patient care of $1 million. What amount should Alpha report as net patient service revenue in its year 2012 financial statements?

a. $10 million

b. $11 million

c. $13 million

d. $14 million

2. Beta Hospital provided services to patients who were covered by the Corwin Health Plan. Beta’s arrangement with Corwin called for interim billing rates at 25 percent less than the established rates, as well as a retrospective rate adjustment. Based on its established billing rates, Beta provided services amounting to $4,000,000 to patients covered by Corwin during the year ended December 31, 2012. At year-end, Beta estimated that it would need to refund $150,000 to Corwin in accordance with the cost standards set forth in the retrospective rate arrangement. What amount should Beta report as net patient service revenue in its year 2012 financial statements?

a. $2,850,000

b. $3,000,000

c. $3,850,000

d. $4,000,000

3. Gamma Hospital provided services amounting to $10 million at its established billing rates in the year ended December 31, 2012. Included in the $10 million were services of $8 million to Medicare patients. Medicare paid Gamma at 60 percent of Gamma’s established rates. Also included in the $10 million were $2 million of services to self-pay patients who did not meet Gamma’s criteria for charity care when admitted. Gamma collected $1.5 million from the selfpay patients during the year and estimated that 40 percent of the uncollected amount would not be collected. What amount should Gamma report as net patient service revenue in its year 2012 financial statements?

a. $6.3 million

b. $6.6 million

c. $6.8 million d. $10 million

4. On January 10, 2012, Delta Hospital received a bequest in the form of equity securities. Delta was required to hold the securities in perpetuity, but it could spend the income. The securities had cost the donor $2.7 million, but their fair value was $3.4 million when Delta received them. The fair value of the securities fluctuated during the year, and Delta’s comptroller calculated that the average fair value during the year was $3.1 million. When Delta prepared its financial statements as of December 31, 2012, the fair value of the securities was $3.3 million. At what amount should Delta report the securities in its financial statements at December 31, 2012?

a. $2.7 million

b. $3.1 million

c. $3.3 million

d. $3.4 million

5. Abbott and Costello Labs donated drugs to Epsilon Hospital, a not-for-profit entity, in January 2012. If Epsilon had purchased the drugs, it would have paid $600,000. During the year, Epsilon used all the drugs in providing services to patients. How should Epsilon report the donation in its financial statements for the year ended December 31, 2012?

a. Report nothing

b. Report the donation in a note to its financial statements

 c. Report $600,000 as other revenues (or gains)

d. Report $600,000 as a reduction of operating expenses

6. Omicron Hospital, a not-for-profit entity, received $6 million in premium revenue under an agreement with Zeta HMO to provide services to subscribing participants. Its internal records showed that Omicron spent $5.6 million in caring for Zeta’s subscribers. How should Omicron report the transactions with Zeta in its financial statements?

a. Report $400,000 as unrestricted premium revenue

b. Report $400,000 as temporarily restricted premium revenue

c. Report $6 million as unrestricted premium revenue

d. Report $6 million as temporarily restricted premium revenue

7. Which of the following is the most likely description of the resources reported by Kappa Hospital on its balance sheet as assets limited as to use?

a. A donation that can be used only for cancer research

b. A donation that must be held in perpetuity in an Endowment Fund

c. An investment of unrestricted resources that is not readily marketable d. An amount designated by Kappa’s governing board for plant expansion

8. How should Phi Hospital, a not-for-profit hospital, report an increase in the fair value of its temporarily restricted investments?

a. Only in the notes to its statements

b. As part of nonoperating revenues (expenses) in its statement of revenues, expenses, and changes in net assets

c. As a gain in its statement of changes in net assets

d. As a direct addition to total net assets

 

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

06:57 Chapter Nine Video Question 1 1 pts Although Washburn makes and sells guitars targeted toward four different market segments with four different price points, company executives have expressed the concern that low prices are hurting the perception of Washburn's quality. Within the context of this situation, which of one of the following statements is false? There is nothing wrong with Washburn offering basic guitars at lower prices to the price-sensitive market segment, and souped-up guitars at higher prices to the market segment that seeks quality. Since Washburn's four market segments likely value different things, it is perfectly acceptable for the company to charge customers in the different segments different prices for different guitars. The guitar market, like most markets, has customer segments that value different things. Washburn's concern that the lower-priced guitars are negatively influencing customers' perceptions of quality is not justified because price never serves as a cue to quality. 1 pts Question 2

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

8 questions each answer needs to be between 100 & 200 words with 1 scholarly reference.

 

1) What are the elements of negligence? How does an intentional tort differ from negligence? Provide examples of both negligence and an intentional tort. 

 

2) Would the mere fact that a person got hurt qualify as negligence?

If we look at the example of a day care, clearly people trust the day care to take care of their children.  But children love to play and so it would not be surprising to hear that a child went outside at recess to go play, possibly on playground equipment.  If a child was swinging and fell out, injuring or breaking their arm, is the day care negligent?  What about falling off a slide and bruising an arm?  Is that negligence?  Is negligence triggered at the slightest injury or does it require something more substantial?

 

3) Grambling University did not renew their rights to their logo and so the trademark lapsed.  Once that had happened the logo was public domain and anyone could use it.  So all of the official NCAA gear and licensing rights were out the window as no one could stop an unauthorized knock off from being sold.  There really isn't any way to come back from that and so Grambling came up with a new logo.

How does something like this come into play in the general business context?  What would you have done if you were Grambling?

 

4) Teams can stand to make some money by introducing a new line of products with a new logo.  The amounts to a pretty good silver lining in the end.  But what do you do about those old uniforms or logos – assuming that you haven't let the trademark expire?  Should you keep those protected or give them up?  

 

5) In the sports world I think many people are familiar with retro uniform days where teams wear versions of yesteryear's apparel.  Do you think that the possibility of having a retro uniform day makes it worthwhile to keep the trademark?  Are there any other reasons to keep a trademark protected?

 

6) From the perspective of the business, is there a weakness to the noncompete clause?  How do those need to be structured in order to be enforceable?

 

7) Enron was a massive failure for the business and accounting worlds seemingly driven by an insatiable desire for more money at any cost.  Suppose that there was a strict liability standard in place during the time of the Enron collapse in each area in which Enron failed.  Would having that strict liability standard have changed anything?

 

8)This reminds me of one of my coworkers, she fell and cut her head open and had to get stitches. We have cameras and it was an accident but the owner didn't pay for any damages nor did she have insurance. He told her she should have had Obama Care then the next two weeks she was fired. Would this be a tort claim, what you think?

 

• Posted: 4 years ago
• Due: 20/02/2016
• Budget: $32

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

) Which of the following newspaper headlines would be more closely related to what microeconomists study than to what macroeconomists study?

27) Gross domestic product serves as a measure of two things:

28) Policymakers who control monetary and fiscal policy and want to offset the effects on output of an economic contraction caused by a shift in aggregate supply could use policy to shift

29) When production costs rise,

30) Stagflation exists when prices

31) One determinant of the long-run average unemployment rate is the

32) Closely watched indicators such as the inflation rate and unemployment are released each month by the

33) If policymakers increase aggregate demand, the price level

34) Which of the following statements about U.S. inflation is NOT correct

35. Economists all agree that

36. Which of the following concerning the history of U.S. inflation is NOT correct?

37. Nominal GDP measures

38) Economic variables whose values are measured in monetary units are called

39) According to the classical dichotomy, which of the following is influenced by monetary factors?

40) According to the classical dichotomy, which of the following is NOT influenced by monetary factors?

41) Changes in nominal variables are determined mostly by the quantity of money and the monetary system according to

42) According to the classical dichotomy, when the money supply doubles, which of the following also double?

43) For any country, if the world price of computers is higher than the domestic price of computers without trade, that country should

44) The price of a good that prevails in a world market is called the

45) The price of cotton that prevails in international markets is called the

46) Outflow represents the quantity of dollars

47) The open-economy macroeconomic model includes

48) The open-economy macroeconomic model examines the determination of

49) The before-trade price of fish in Greece is $3.00 per pound. The world price of fish is $5.00 per pound. Greece is a price-taker in the fish market. If Greece begins to allow trade in fish, its consumers of fish will become

50) The before-trade price of fish in Greece is $3.00 per pound. The world price of fish is $5.00 per pound. Greece is a price-taker in the fish market. If Greece allows trade in fish, then Greece will become an

51) With which of the Ten Principles of Economics is the study of international trade most closely connected?

52) Which of the following statements is true?

53) Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrictions, it discovers that it is importing incense, exporting steel, and neither importing nor exporting rugs. Which groups in Aquilonia are better off as a result of the new free-trade policy?

54) Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrictions, it discovers that it is importing incense, exporting steel, and neither importing nor exporting rugs. We can conclude that producer surplus in Aquilonia is now

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"