Nab Core Study Guide Questions And Correct Answers

What act is OBRA? {Ans: Omnibus Budget Reconciliation Act}Vocational Rehabilitation Act of 1973 {Ans: Prohibits discrimination in employment on the basis of disability if an entity receives federal funds. Requires federal government contractors to mount affirmative action programs for the handicapped. Enforced by the OFCCP (Office of Federal Contract Compliance Programs).}No items in room can be higher than _____ off ceiling. (Privacy curtain must be suspended unless they have a mesh top) {Ans: 18 inches}What does EEG stand for? {Ans: Electroencephalogram (test of brain activity)}Which one of the following is not normally considered to be a liquid asset? 1. Short-term note receivable 2. Cash 3. Inventory 4. Accounts Receivable {Ans: 3. Inventory Liquidity refers to cash and marketable securities and current receivables that are readily converted into cash. - Inventory not as liquid}A summary of a businesses financial well-being within a time period is called a/an {Ans: financial statement}