Practice Quiz

Nurse Manager Exam #1: Financial Management

Category - Financial Management

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What is a cost- benefit analysis?
  1. A measurement of the cost of a product, service or intervention
  2. Costs spent per outcome achieved
  3. Ratio of total costs to total benefits expressed in both dollars and benefit value
  4. Comparison of interventions to achieve one quality-adjusted life year
Explanation
Answer: C - Ratio of total costs to total benefits expressed in both dollars and benefit value. A cost-analysis is a ratio of total costs to total benefits expressed in both dollars and benefit value. The expected benefits of the project are subtracted from the total cost of implementation.
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