On a Statement of Functional Expenses for a Voluntary Health

question 22

Multiple Choice

On a statement of functional expenses for a voluntary health and welfare entity, how are expenses classified?

• A) Health services expenses and operating expenses.
• B) Program services expenses and administrative services expenses.
• C) Program services expenses and supporting services expenses.
• D) Operating expenses and supporting services expenses.
• E) Operating expenses and administrative expenses.

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Definitions:

Unemployment Rate

The percentage of the labor force that is unemployed and actively looking for employment.

Labor Force Statistics

Data and metrics that provide information about the employment and unemployment rates, workforce composition, and other labor market indicators.

Efficiency Wages

Wages set above the equilibrium level by employers to increase worker productivity, discourage turnover, and reduce shirking.

Efficiency-Wage Theory

A theory suggesting employers pay above the market equilibrium wage to increase worker productivity.