Michigan Nursing Home Administrator (NHA) Practice Exam

What is included in the records of financial transactions by the nursing facility?

1. The patient's social history

2. Biographical details of nursing staff

3. The balance after each transaction

4. Patient's emotional well-being assessments

The correct answer is: The balance after each transaction

The records of financial transactions by a nursing facility primarily include the balance after each transaction. This is critical for accurate financial management and accountability within the facility. Having a clear and detailed record of all financial transactions, including balances, enables administrators to monitor the facility's financial health, prepare financial statements, and ensure that all accounting practices adhere to regulatory standards. The ability to assess the balance after each transaction also helps in identifying discrepancies, tracking income and expenses, and ensuring proper funding for the care of the residents. This kind of financial monitoring is essential to meet both legal requirements and the financial duties of a nursing home administrator. In contrast, while the patient's social history, biographical details of nursing staff, and assessments of the patient's emotional well-being are all important aspects of nursing facility records, they are not classified as parts of the financial transaction records. Instead, these items pertain more to patient care and staffing documentation and serve different purposes in the administration of the facility.