HSMG 699 Assigniment 1
(Submit via SAKAI by Friday, Feb. 5 midnight)
Right on homework
Corrected on homework
Multiple Choice Questions:
1. 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 efficiency and value of the enterprise. Pp slide 22 (Gapenski 2012)
e. Financial management is of no value in decision making.

2. Which of the following statements about the role of finance in healthcare organizations is incorrect?

a. Over time, the finance function has become increasingly focused on strategic issues, such as joint venture decisions.
b. Today, the most critical finance function is cost identification. Should say cost containment pg. 8-9
c. The finance function often supports cost containment efforts and third-party payer contract negotiations.
d. The primary activities of the finance function can be summarized by the four Cs: costs, cash, capital, and control.
e. In times of high profitability and abundant financial resources, the finance function tends to decline in importance.

3. Which of the following is not a hypothesized benefit of integrated delivery systems?

a. Information systems that track all aspects of patient care can be developed more easily.
b. Integrated delivery systems can provide population-based care, such as chronic disease management, that is often not offered by stand-alone providers.
c. Integrated delivery systems have better access to capital.
d. Integrated