QUESTION1of7 Which of the following statements helps to explain what a budget is?

Question Answered step-by-step QUESTION 1 of 7Which of the following statements helps to explain what a budget is? (Select all that apply)Choose all answers that applya) A plan which helps to coordinate the financial goals of an organization.b) A guess about how much working with an individual patient will cost.c) Typically, a financial forecast of the costs and revenue gains of providing care.d) A plan for the resources, especially financial, needed to deliver care by a team.QUESTION 2 of 7Which of the following are benefits of developing a budget? (Select all that apply)Choose all answers that applya) It can be a means of developing nurse leaders and nurse managers.b) It can help minimize operational surprises.c) It helps to create cost awareness.d) It can help reduce waste.QUESTION 3 of 7True or False: A fixed cost is one that changes in a linear fashion related to the amount of good or service that is provided by the company. For example, if a hospital treated 100 patients, at an expense of $10,000 total dollars, if it were to treat 200 patients it would cost $20,000.Choose one answera) Trueb) FalseQUESTION 4 of 7True or False: A variable cost is one that changes in proportion to its activity, in other words the amount used. For example, if more a specific drug is used, the hospitals costs associated with that drug will increase.Choose one answera) Trueb) FalseQUESTION 5 of 7Which of the following are examples of fixed costs in health care? (Select all that apply)Choose all answers that applya) Hospital food costs.b) Staff base salaries.c) Rent for buildings.d) Staff benefits.QUESTION 6 of 7Which of the following are examples of variably costs in health care? (Select all that apply)Choose all answers that applya) Utility fees.b) Drugs.c) Capital purchases.d) Consumable products.QUESTION 7 of 7In what ways is an understanding of budgeting and finance beneficial to a nurse’s career and organization? Health Science Science Nursing BSN NURSIN NURSFXP401 Share QuestionEmailCopy link Comments (0)