July 31st, 2022 
Chapter 15 – 16
Answer each of the following questions:
1. Describe the existing needs for cost information in healthcare firms.
2. Describe how cost information relates to the three key activities of management: planning, budgeting, and control.
3. Define a budget and describe how management uses them.
4. Explain the concept of management control and how budgeting is used as part of it.
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