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Add to cartWhat factors are considered during the forecasting stage of project volumes?
The factors considered during the forecasting stage of project volumes include expert opinion, statistics, historical data, shifts in patient mix, changes in medical staff composition, changes in inflation/reimbursement rates, expansion/cutbacks, and population fluctuations based on the economy.
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What are the steps to creating a budget?
The steps to creating a budget are as follows:1. Project volumes2. Convert volumes to revenue3. Convert volumes into expense requirements4. Adjust revenue/expenses as necessary to meet budget margin.
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How is gross revenue calculated?
Gross revenue is calculated by multiplying the rates by the production unit (billable test volume).
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What are some examples of expenses in a clinical pathology setting?
Examples of expenses in a clinical pathology setting include salaries/wages, reference service, instrument lease, maintenance contracts, and education/travel.
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What do financial statements convey?
Financial statements convey the financial status of an organization. The four main types of financial statements are the income statement, balance sheet, statement of changes in equity, and statement of cash flows.
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What does an income statement summarize?
An income statement summarizes the operations of an organization with a focus on its revenues, expenses, and profitability. It contains operational results over a period of time.
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What is depreciation?
Depreciation is a noncash charge against earnings on the income statement that reflects the wear and tear on a business fixed assets (property and equipment). It represents the loss of value over time.
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What is salvage value?
Salvage value is the amount received when final disposition occurs at the end of an assets useful life.
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Create quizThese practice questions are designed to help you prepare for the DLM (ASCP) Exam. Each question is followed by a detailed answer and explanation. Good luck with your studies!
32 questions
English
04-19-2024
University / University of Liverpool / Leadership and management