In general, the ownership patterns for U.S. nursing facilities in 2006 ____.

Generating reports on the financial standing of the nursing facility is generally assigned to ____.

Responsibility and blame for overspending in the department of nursing and in food services are typically assigned by the owners to the ____.

A set of records that lists each monetary transaction of the facility is normally referred to as ____.

The primary purpose of the Generally Accepted Accounting Principles is to ____.

An owner who takes unrecorded cash from the facility’s daily cash intake to purchase a tablet for his daughter to use at college has violated the ____ concept.

Instructing the financial manager to record assets at current market value and to not record patient bills expected to become uncollectible violates the ____ concept.

Telling the accountant not to record overtime paid from the cash box to employees working weekends is violating the ____ concept.

Directing the accountant to move from a January 1 date to a June 30 fiscal year date in order to minimize the negative image possibly created by an anticipated loss violates the ____ concept.

Allowing the bookkeeper to destroy vouchers showing payments made for meals to employees once these are recorded may violate the ____ concept.

Pieces of paper indicating money owed to or by the facility, bank statements, and similar pieces of paper or their electronic equivalents are known as ____.

An administrator who instructs the accountant to begin reporting facility finances by recording all expenditures and all receipts as they actually occur has decided to use the ____ system of accounting.

It is difficult to recognize items such as depreciation and prepaid insurance in the ____ system of accounting.

An administrator directing the accountant to record revenues when they are earned and expenses when they are incurred regardless of the time the cash transaction takes place has decided to use the ____ approach to accounting.

Allowing the facility to accurately measure revenues earned after expenses have been paid or losses incurred by matching revenues and expenses for each time period is the advantage of the ____ system of accounting.

A summary of the nursing home’s financial well-being within a time period is normally referred to as ____.

If the administrator asked the bookkeeper for a list containing every account in the facility, the bookkeeper would hand the administrator the ____.

Things owned by the facility are normally referred to as ____.

Things owed by the facility, its obligations, are normally referred to as ____.

Money invested in the facility, also known as the facility’s net worth, is normally referred to as ____.

If the administrator asks the accountant for the journals, the administrator wants to look at ____.

The new accountant informs the administrator that to simplify things, he has incorporated all purchases that will be paid for the next few years into the accounts payable journal. The administrator should _____.

Making a debit and a credit entry for each transaction is known as the _____ system of accounting.

Under double-entry bookkeeping, when a bill is sent to a client for $$3,000 for the past month's care, the bookkeeper would normally record$$ 3,000 in the debit column as an increase in assets and _____.

Using accrual accounting, purchase of a 6‑month supply of provisions would be entered into the _____.

Under accrual accounting, when the accountant shows the amount of medical supplies used during a month in the cash disbursements journal and the general journal, the bookkeeper has made _____.

When errors are discovered in other journals, they can be corrected by entries into the _____.

When the administrator asks the accountant for a summary of all debits and credits contained in the journals for the time period, the accountant should hand the _____ to the administrator.

At the end of a time period, when debits do not match credits exactly, the accountant can first assume that an error has been made in _____.

The Generally Accepted Accounting Principles (GAAP) do not normally require financial statements prepared for general distribution to include _____.

The income statement shows whether _____ were sufficient to cover expenses.

The accountant has listed the new building annex, the new central air conditioning system, and the supplies for the next 6 months as capital expenses. The administrator should _____.

At the end of a time period, total expenses are subtracted from total revenues to compute the _____.

The accountant, upon successfully bringing the expense and revenue accounts to zero, has successfully _____.

When the administrator asks the chief financial officer (CFO) for a statement showing the ending balance of the revenue and expense accounts, the CFO should hand the _____ to the administrator.

A financial statement in which the assets must equal the liability and capital accounts is known as the _____.

Any possession of the facility that will be or could be turned into cash within 12 months is a _____.

Because capital assets will not be liquidated any time soon, their current market value is not directly relevant relates to the ongoing concern concept and is known as _____.

Depreciation is an expense associated with the use of _____.

Bills from suppliers of foodstuffs or office supplies or janitorial services contractors are normally classified as among the _____.

When an administrator notes that there are $600,000 in notes payable on the financial reports, the administrator knows these must be paid within _____.

Funds that have been put into the facility by owners or others, and retained earnings that have been put back into the facility are usually included when calculating the _____.

Except for for‑profit facilities paying taxes and the not‑for‑profit facility not paying income taxes, there are _____ in accounting and financial processes.

Not having to pay taxes gives not‑for‑profit facilities a slight _____.

The certified public accountant's end‑of‑year report for a 15‑year‑old 120‑bed for‑profit facility with no debt shows an excess of income over expenses of $95,000. The owners would likely be _____.

When asked whether funds are readily available for a $$75,000 purchase and the accountant responds that the net worth is well over$$ 800,000 and to go ahead with the purchase, the administrator should _____. (p. 231)

When the amount of current assets remaining after current liabilities have been subtracted is calculated, the administrator has an idea of the _____ available to be spent. (p. 231)

When the CFO identifies trends in measures of financial performance of the facility by comparing the same relationships for several time periods he is doing _____. (p. 232)

A facility has current assets of $$403,898 and current liabilities of$$ 367,000. Its current ratio is _____. (p. 232)

A 1-year-old, 120-bed for-profit facility with a $$2,500,000 mortgage at 7.4$$ 25,000. In today’s financial market, the owners would likely be _____. (p. 234)

Ratios, to be truly useful, should be _____. (p. 232)

The new administrator in a private pay for-profit facility is told by the accountant that the accounts receivable are $$105,800 and the net operating revenues are$$ 334,000. On calculating the average collection period ratio, which turns out to be _____ days, the administrator should be _____. (p. 234)

A 12-year-old facility, largely out of debt, has $$334,693 in operating revenues and$$ 339,078 in operating expenses, yielding a net operating margin ratio of _____. The owners of this facility would likely feel this to be _____. (p. 234)

A facility with long-term debt of $$4,000,000 and a total equity of$$ 3,000,000 has a debt-to-equity ratio of _____, which is _____ the industry average. (p. 234)

Trends and patterns in the operation of a nursing facility can best be obtained by doing _____. (p. 236)

To safeguard the finances of a facility, procedures should be arranged to establish a system of _____ so that employees review each other’s financial activities. (p. 238)

A useful form that summarizes the facility’s occupancy, listing daily admissions, discharges, and transfers is known as the _____. (p. 239)

At the end of each year for facilities participating in Medicare, a Medicare Cost Reconciliation settlement occurs, in which _____. (p. 245)

The frozen food contractor arrives, places the order in the freezer, checks off the receiving slip, hands it to the appropriate kitchen employee who thanks the contractor and hands the receiving slip and purchase order copy to the director of food services. The administrator, on observing this, should _____. (p. 246)

Perhaps the only way to maintain an accurate count of supplies consumed and those remaining is to use _____. (p. 250)

The use of LIFO (last in/first out) to price inventory during a period of inflation will have the effect of making the value of the goods remaining in inventory _____. (p. 251)

The largest directly controllable cost for the average administrator is _____. (p. 252)

Payroll deductions are subtracted from _____ to arrive at the employee’s _____ pay. (p. 252)

Assets that can be capitalized or depreciated differ from the other assets of a facility in that they are used in operations for more than _____ and will not be converted into _____ within the year. (p. 256)

On discovering that the new accountant had set the actual purchase price paid (e.g., no tax, delivery, or similar costs) for the assets to be depreciated, the facility administrator would normally feel the accountant was _____. (p. 256)

One practical reason for using straight line depreciation is that _____. (p. 257)

Congress’ purpose for passing accelerated depreciation was to _____ of new facilities. (p. 257)

As a practical matter, most owners do not fund depreciation and treat it as _____. (p. 258)

Using several differing depreciation schedules for a single piece of equipment is _____ as an accounting behavior. (p. 259)

Land _____ is a depreciable asset. (p. 229)

Medical supplies, food supplies, and postage for billing residents are ____ costs.

The salary of the director of nursing and the administrator are examples of ____ costs.

In a facility having high fixed costs the pressure to keep beds filled is ____ in facilities with low fixed costs.

For in-facility services such as physical therapy it is important to calculate the ____ cost in order to better analyze the cost-effectiveness of such services.

Nursing and physical therapy are normally thought of as ____ centers.

A financial analysis that yields to the administrator a representative picture of the entire expense of providing a service (for example, offering adult day care services) is known as ____.

Only when appropriate ____ has been achieved can an accurate job of ____ be accomplished.

In order to develop a reasonable estimate of income and expenses for a coming time period it is important to do both a(an) ____ budget and a ____ budget.

Because income and expenses vary from time period to time period, it is desirable to project a ____ budget.

Plans for expenditures for buildings, major equipment, and the like are normally part of the ____ budget.

A method of measuring the potential profitability of an investment, calculated by dividing the net income by the investment, is the ____.

A revision of an accounting forecast or assumption about the facility’s expected or experienced performance is a(an) ____.

The portion of a brand in the form of a symbol, design, or distinctive coloring or lettering, also called a logo, is an organization’s ____.

The administrator decides to offer newer forms of physical therapy that reduce use of currently used physical therapy methods. The administrator has ____ the current methods.

A market that is so competitive that all its participants have virtually no control over price is known as ____.

The administrator asks the business manager to divide the net income after any taxes by the noncurrent liabilities plus owners’ equity. The administrator wants the ____.

A method of determining the optimum amount of materials that needs to be ordered on a regular basis is known as the ____.

When governments use their powers to keep the price either above or below the equilibrium point it is known as ____.

Short-term securities (2 days to 270 days) issued by corporations, banks, and other borrowing institutions to raise short-term working capital is known as ____.

The administrator asks the bank for an instrument stating that the bank that has granted the holder the amount of credit equal to the face amount wants a ____.

The facility has issued a debt obligation to pay a specific amount on a stated date. The facility has issued ____.

When the financial manager classifies an expense as an asset because it benefits the facility for more than 1 year, the financial manager has ____ that expense.

The administrator wishes to lease a building and acquire substantial property rights in the process. The administrator seeks ____.

The administrator has borrowed cash for an agreed upon purpose between a lender and borrower. The administrator now has a ____.

The chain issues stocks and bonds that can be converted into capital stock at some future date. It has issued ____.

The chain “buys back” a portion of its outstanding stock by giving one new share in place of each four previously held shares. The chain has accomplished a(an) ____.

The administrator seeks to be licensed without having to meet all the conditions new entrants would have to meet. The administrator seeks to be ____.

The administrator holds a number of assets, such as bonds or easily sold stock, as investments. The administrator has substantial ____.

The instrument that creates a corporation under the laws of a state is known as the ____.

The three owners hold all the shares in the facility. They have a ____.

Statutes are laws _____. (p. 274)

Normally, courts of appeal do not have _____. (p. 276)

Statutes and subsequent regulations are collected in _____. (p. 275)

Generally, the lowest level of the court system is the _____ court. (p. 275)

To set a person or corporation free of accusations is to _____. (p. 276)

A statement in writing given under oath before a notary public is an _____. (p. 276)

The coming into court of a person being summoned to do so is a(an) _____. (p. 277)

An impartial person chosen by the parties to an argument who agree to abide by that person’s decision is a(an) _____. (p. 277)

A Latin phrase meaning to stand by earlier court decisions is _____. (p. 279)

A verdict given by a jury at the direction of a judge is a(an) _____. (p. 278)

An application to the court asking for an action favorable to one’s side is _____. (p. 279)

When the employee is acting within the control or scope of the employer, the employer is responsible for the acts of the employee under the concept of _____. (p. 282)

A written publication that exposes someone to public scorn, hatred, contempt, or ridicule is _____. (p. 278)

An early step in a criminal procedure during which the defendant is formally charged with an offense is a(an) _____. (p. 277)

Conduct giving rise to a cause for legal action is _____. (p. 276)

When parties to a lawsuit who are dissatisfied with the court’s decision ask a higher court to review the decision, it is known as a(an) _____. (p. 276)

A district attorney may bring assault charges for the purpose of _____. (p. 280)

Damages for proven losses are known as _____ damages. (p. 277)

A fee paid in advance to an attorney for services on a case is known as a _____. (p. 280)

A concept in torts used as a defense by the defendant against the plaintiff is an assumption of _____. (p. 278)

Consent given after full information regarding the matter has been provided is known as _____ consent. (p. 277)

Spoken statements leading to actual damages implying crime, or unchastity, or relating to a person’s profession or business are known as _____. (p. 278)

A reckless disregard for human life, a state of mind that accompanies a wrongful act in which the resulting harm was intended, is known as _____. (p. 278)

A public official, either elected or appointed, who conducts cases against persons accused of crimes is known as a _____. (p. 279)

A written order from a judge permitting certain law enforcement officers to look for certain things or persons is a _____. (p. 280)

A person who gives evidence before a court and swears that testimony is true is a _____. (p. 281)

A _____ exists when a legal duty is owed another, that duty is breached, and harm results. (p. 280)

A written order from a judge having authority in that jurisdiction for the arrest of a person is known as a _____. (p. 281)

The concept, in both civil and criminal law, that the employer is responsible without the employee having to show employer fault, and that normally applies to an ultra-hazardous situation is _____. (p. 282)

The range of employee activities held by the courts to be the legal responsibility of the employer, essentially any act performed in the process of carrying out one's duties, is known as _____. (p. 282)

Laws that generally establish employer responsibility without regard to fault or negligence for employees' illnesses or injuries that arise out of performance of the job are known as _____. (p. 282)

Statutes in various states setting forth the extent to which employers are liable in regard to their employees are _____. (p. 282)

Under the concept of respondeat superior, the administration of the facility is as _____ responsible for the acts of contracted services as for acts of full-time employees. (p. 282)

It normally falls to the _____ to ensure that contracted services are coordinated and supervised on an ongoing basis. (p. 295)