Practice Quiz

Nurse Manager Exam #1: Financial Management - Question List

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26. The revenue budget represents:
  1. Salary and non-salary items
  2. Patient care income expected for the budget period
  3. Expected revenues and expenses for the coming year
  4. All of the above
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27. The expense budget represents:
  1. Salary and non-salary items
  2. Patient care income expected for the budget period
  3. Expected revenues and expenses for the coming year
  4. All of the above
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28. The best definition of a budget variance is:
  1. The difference between the amount that was budgeted for a specific cost and the actual cost
  2. Differences in the budget as a result of increases or decreases in patient volume
  3. The difference between budgeted and actual nursing care hours provided
  4. The difference between budgeted and actual hourly rates paid
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29. The best definition of a volume variance is:
  1. The difference between the amount that was budgeted for a specific cost and the actual cost
  2. Differences in the budget as a result of increases or decreases in patient volume
  3. The difference between budgeted and actual nursing care hours provided
  4. The difference between budgeted and actual hourly rates paid
See answer
30. The best definition of an efficiency variance is:
  1. The difference between the amount that was budgeted for a specific cost and the actual cost
  2. Differences in the budget as a result of increases or decreases in patient volume
  3. The difference between budgeted and actual nursing care hours provided
  4. The difference between budgeted and actual hourly rates paid
See answer

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