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5 Written questions

5 Matching questions

  1. Income statement
  2. 87%, which means no price control
  3. current assets
  4. financial statements
  5. cash
  1. a profit-loss statement which provides PAST performance of the business
  2. b how the final information of accounting is communicated
  3. c refers to coin, currency, and other items like personal checks, charge card receipts, and traveler's checks which banks accept for deposit
  4. d Total 3rd party prescriptions
  5. e those that will be sold, consumed, or converted to cash within the current operating cycle of business (1 year)

5 Multiple choice questions

  1. Can th efirm pay its shrot-term debts as they come due
  2. amounts owed to the pharmacy by its customers as a result of th eordinary extension of credit (divided into those that arise from credit sales, and third parties)
  3. measures how efficiently assets are used- making the maximum use of available assets (accounts receivable collection period, inventory turnover, asset turnover)
  4. used to assess the performance of the pharmacy department, purchases and payroll largest expenses in hospitals
  5. sources abd uses statement or statement of changes in financial position: reflects cash changes during the operating cycle, shows how a pharmacy obtained cash and how it used cash

5 True/False questions

  1. ROA (NI/total assets)Ratio measures how effectively all funds availableto the manager, both debt and equity, have been used. better indicator of manager's performance than ROE bc it considers all funds at teh manager's disposal, not just investements


  2. drug expense per patient daythe measure of profitability after expenses are considered (3% for NCPA digest before tax)


  3. solvencysales of merchandise normally sold by the business


  4. tests of liquiditymeasure the firm's ability to pay its current debt as it comes due (Current ratio, quick ratio,accounts payable period)


  5. Balance sheetsstatement of financial position/provides present financial status of the business