NAB Study Guide Questions and Answers 100% Pass

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NAB Study Guide Questions and Answers 100% Pass Education and training programs. ✔✔To obtain more accurate cost estimates and more control over costs (participatory budget making process - othe ... rs are more likely to consider the budget legitimate). A change in which one of the following is not likely to be the cause of a budget variance? ✔✔The personal needs allowance. "Assets are always equal to the sum of liabilities plus owners' equity" is the basic concept in the organization of the: ✔✔Balance Sheet. The financial success or failure of a nursing facility is usually measured by its: ✔✔Return on Equity (net income - i.e., revenues in excess of expenses) and divides it by owners' equity). If a facility has a current ratio greater than 1, which of the following statements is most likely to be true? ✔✔It will be able to pay its bills on time (current ratio greater than 1 means that the organization's current assets exceed its current liabilities, and this indicates a good ability to pay short-term liabilities as they come in). A check should generally be issued only when which one of the following is available and properly signed? ✔✔Purchase Order. The importance of matching revenue with the expenses incurred in generating those revenues is the reason for recording which one of the following? ✔✔Depreciation (the purpose of recognizing depreciation is to satisfy the Matching Principle (GAAP) stated in this question). Using the straight-line method, what would be the annual depreciation expense for a piece of equipment having a cost of $6,000.00, a manufacturer's warranty for 2 years, and an estimated useful life of 6 years? ✔✔$1,000. Which of the following is a current asset? ✔✔Accounts Receivables. Under the accrual basis of accounting, revenues are recorded when _______ and expenses are recorded when ______________. ✔✔Revenues are earned - expenses are incurred. A generally accepted accounting principle (GAAP) w [Show More]

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