Jordan an Auditor, Is Performing a Routine Review of a Not-For-Profit

question 19

Multiple Choice

Jordan an auditor, is performing a routine review of a not-for-profit hospital and noted the following account balances in the statement of operations for the fiscal year ending
Sept.30, 2011: $$\begin{array}{l}\begin{array} {lll } \text {Gross patient serv ice rev enue from all }&\$4,450,000\\ \text {services at the hospital's estab lished billing rate}&\\ \text {Bad debt expense}&\$90,000\\ \text {Contractual adjustments}&\$420,000\\\end{array}\end{array}$$
Calculate the amount the hospital would report as net patient service revenue in its statement of operations for the fiscal year ending Sept.30, 2011.

Recognize considerations before cosigning a loan.

Describe consumer advisories when activating new credit cards.

Enumerate immediate actions recommended by the Federal Trade Commission for identity theft victims.

Understand the concept of opportunity costs related to financial decisions.

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Definitions:

Common Stereotypes

Widely held but oversimplified and generalized beliefs about a particular group of people or things.

Nasty

Unpleasant or offensive; can refer to behavior, conditions, or situations that are harmful, mean-spirited, or very unpleasant.

Advisory Grandparents

Grandparents who play a significant role in providing advice and guidance to their grandchildren and sometimes to their children in parenting matters.

Grandchildren

The children of one's son or daughter, forming an essential part of the extended family and often a source of joy for grandparents.