Author Question: The supply item master is: a. an electronic history of all transactions. b. an electronic ... (Read 116 times)

dalyningkenk · **on:** Jul 8, 2018

The supply item master is:

a. an electronic history of all transactions.
b. an electronic pricing list of all supplies and services.
c. a list of all items available to order in the organization.
d. a list of vendors who supply items to the organization.

Question 2

Financial reporting is a vital part of decision making in healthcare organizations. Which report would be used to show a snapshot of the bottom line?

a. Balance sheet or statement of financial position
b. Cash flow statements
c. Assets, liabilities, and equity
d. Income statement or statement of operation

tdewitt · **Reply #1 on:** Jul 8, 2018

Answer to Question 1

ANS: C
The supply item master is the master list of supplies available to order in the organization.

Answer to Question 2

ANS: D
Income statements reflect the following formula: revenue - expenses = profit. This is often referred to as the bottom line. The balance sheet, on the other hand, reflects an organization's assets, liability, and equity.