Budgeting

Budgeting is defined as a planned expenditure for a set time period along with proposals for financing it.

• True

• False

Fixed costs vary on output & change overtime

• True

• False

An example of a fixed cost expense is...

• utilities

• maintenance

• rent

• travel

The role of an OT manager in budgeting includes...

• Balance the costs of business against reimbursement

•  maximize company resources

• maintaining an organized system

• All of the above

Break-even point is defined as a 12-month period for gathering financial information

• True

• False

Variable costs vary on output, changes overtime

• True

• False

An example of a variable costs is..

• utilities

• insurance

• rent

• loans

An understanding of social change can give clinics a heads up about the future of the market.

• True

• False

Depreciation of capital assets include computers & larger therapy equipment, such as fluidotherapy machines

• True

• False

Budgeting falls into the IADL of household management

• True

• False