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5 Written questions

5 Matching questions

  1. drug expense per patient day
  2. gross margin percent
  3. statement of retained earnings
  4. Financial ratios for institutional pharmaciess
  5. Net income percent
  1. a used to assess the performance of the pharmacy department, purchases and payroll largest expenses in hospitals
  2. b total annual drug expense/annual patient days
  3. c tells the percent of every dollar of sales that is available to cover operating expenses and profit (23.2% NCPA digest)
  4. d the measure of profitability after expenses are considered (3% for NCPA digest before tax)
  5. e tells you how profits are being usedreports how business's retained earnings have changed over a period of time which include dividnet payments or net losses, which decrease retained earnings, net income and additional owner investment which increase retained earnings

5 Multiple choice questions

  1. # of Rx's dispensed with generic product/total # of Rx's dispensed (more generics used, less drug expenses)
  2. arise from payments made for a good or service in an accounting period PRIOR to the one during which the good/service is actually used
  3. statement of financial position/provides present financial status of the business
  4. measures how efficiently assets are used- making the maximum use of available assets (accounts receivable collection period, inventory turnover, asset turnover)
  5. what a cash flow statement is used for most

5 True/False questions

  1. Asset turnoverwhat a business owns, valuable resources that are owned or controlled by the business and were acquired at a measureable cost

          

  2. assetswhat a business owns, valuable resources that are owned or controlled by the business and were acquired at a measureable cost

          

  3. financial leveragehow the final information of accounting is communicated

          

  4. 87%, which means no price controltells the percent of every dollar of sales that is available to cover operating expenses and profit (23.2% NCPA digest)

          

  5. Tests of overall performancemeasure the firm's ability to pay its current debt as it comes due (Current ratio, quick ratio,accounts payable period)