Which of the following statements about the finance department at large healthcare organizations is most correct?
a. The department is headed by the chief financial officer (CFO) (sometimes called the vice-president finance).
b. The CFO typically reports directly to the chief executive officer (CEO).
c. The CFO usually is assisted by a comptroller and treasurer.
d. The comptroller and treasurer often have managers under them responsible for specific functions such as patient accounts management and cash management.
e. All of the above statements are correct.
Ans: e. All of the above statements are correct.
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With respect to the regulation of variable contracts and those who sell them, which of the following statements is most accurate?
A) Variable contracts and their distribution are regulated exclusively by the Department of Insurance because state regulation supersedes federal regulation. B) Variable contracts and their distribution are regulated separately (often with conflicting regulatory demands) by the Department of Insurance, the SEC, and FINRA. C) Variable contracts and their distribution are regulated separately but in a fairly coordinated fashion between the Department of Insurance, the SEC, and FINRA D) Variable contracts and their distribution are regulated exclusively by the Securities Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) because federal regulation supersedes state regulation."
Blue Scales, Inc. entered into a contract to purchase 20,000 units of raw materials from Scorpio, Inc. If Scorpio fails to deliver on its obligations, which of the following statements is true?
A) Scorpio will have to pay the amount it has already received from Blue Scales. B) Scorpio will have to pay the profits lost by Blue Scales. C) Scorpio will have to pay whatever sum Blue Scales speculates as damages. D) Scorpio will have to pay Blue Scales the price difference in purchasing from another supplier plus court costs.