Which of the Following Statements Best Describes Why Nurses Should

question 10

Multiple Choice

Which of the following statements best describes why nurses should be knowledgeable about health care funding?

• A) To be able to be an effective employee for insurance companies
• B) To be knowledgeable when media asks for opinions on some new legislation
• C) To better serve as patient advocates in policy making for funding that provides appropriate care for the greatest good
• D) To know how to write nursing notes that reflect higher reimbursement possibilities

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Definitions:

Merchandise Inventory

Goods or products that a company holds for the purpose of resale to customers, recorded as a current asset on the balance sheet.

Income Summary

is an account that aggregates all revenue and expenses during an accounting period, used to transfer the net income (or loss) to the capital account.

Freight-in

represents the cost of transporting goods into a business, typically considered as part of the cost of goods sold.

Operating Expense

An expense that a business incurs through its normal business operations, often including items like rent, utilities, and payroll.