Financial CHFP Exam (page: 8)
Financial Certified Healthcare Professional (CHFP)
Updated on: 15-Feb-2026

Viewing Page 8 of 63

Cash (or cash equivalents) is the most liquid asset on the balance sheet.

  1. True
  2. False

Answer(s): A



By subtracting contractual allowances and charity care discounts from gross patient accounts receivables, what remains is:

  1. Patients accounts payable
  2. Patients accounts receivable
  3. Patients accounts bill
  4. Patients cash income

Answer(s): B



Health care organizations also present an estimate of how much of their patient accounts receivables they likely will not be able to collect, this estimate is called:

  1. Allowance for collectables
  2. Expense for collectables
  3. Allowance for uncollectables
  4. Expense for uncollectables

Answer(s): C



Supplies refer to small-dollar items that will be used up or fully consumed within more than two years.

  1. True
  2. False

Answer(s): B



What refers to relatively expensive items that will be used over a long period?

  1. Supplies
  2. Taxes
  3. Assets
  4. Equipments

Answer(s): D



Viewing Page 8 of 63



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