Checkpoint 1

In: Business and Management

Submitted By tweetyo
Words 281
Pages 2
Directions: Consult Ch. 1 and the glossary of Financial Management in Health Care Organizations as well as other outside sources as necessary in order to complete the tables in Parts I and II. Provide a definition in your own words for each term, as well as a real-world example. The examples need not be from the field of health care.

Part I: The Four C’s

Term Definition Real-world example

Cost The cost Is the value of something The price of a dress, how much you paid for medication, the purchase of a home

Capital Cash that is used for a investment Investment of a business,

Cash Currency one gets from a bank, you have on hand when you don’t have a check. Also another name for money. Funds use to buy a home, car, business, clothes, medication, and personal use.

Conservation Protection, change, restoration from loss, keeping the same value Like making wise investments

Part II: The Five Pillars of Financial Practice

Term Definition Real-world example

Cash flows Amount of cash you have now, increase in cash It can be Outback, Myself, any business

Maximizing behavior To reach the highest peak or goal Up the ticket prices for a any sports such as basketball, actors, models , employees

Risk aversion To make a risky move in order to get a return or money back Lottery, world stock holder

Time value of money Investment of some amount of today that is promise of the exact amount in the future. One who desire to exploit opportunities earn interest or returns, such as actors,

Opportunity cost The forgone cost, Anything that is of value Financial actors, cost of education,…...

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