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5 Written Questions

5 Matching Questions

  1. tests of liquidity
  2. drug expense per patient day
  3. statement of capital
  4. purchase of noncurrent assets and dividends paid
  5. statement of financial position/cash flow statement
  1. a total annual drug expense/annual patient days
  2. b Statement of retained earnings which provides info on how the owner's investment in the business has changed over some period of time
  3. c what a cash flow statement is used for most
  4. d measure the firm's ability to pay its current debt as it comes due (Current ratio, quick ratio,accounts payable period)
  5. e provides info on where the buiness is getting cash and how it is spending it

5 Multiple Choice Questions

  1. statement of financial position/provides present financial status of the business
  2. consist of those debts that will come due during the current operating cycle of business (accounts payable, short term notes, accrued expenses, and current portion of long term debts)
  3. current assets/current liablilities: it measures the ability to pay bankers/wholesalers back on time, ideal number between 2-4 and NCPA digest is 2.89, above 4 =too much invested in current assets, and lower than=pharmacy has probs paying current debts on time
  4. Total 3rd party prescriptions
  5. used to assess the performance of the pharmacy department, purchases and payroll largest expenses in hospitals

5 True/False Questions

  1. gross margin percenttells the percent of every dollar of sales that is available to cover operating expenses and profit (23.2% NCPA digest)


  2. list all the current assetsthose that under nromal conditions are not sold, consumed or converted to cash within cycle (year)


  3. Accounts recievable collection perioddebts that arise from purchase of goods or services on credit


  4. financial statementsprofit-loss statement which provides PAST performance of the business


  5. accrued expensesarise from payments made for a good or service in an accounting period PRIOR to the one during which the good/service is actually used


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