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Test your basic knowledge |
Bookkeeping
Start Test
Study First
Subject
:
business-skills
Instructions:
Answer 47 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A sum kept in the office for unexpected - minor - or routine expenses. (ex postage due mail or coffee supplies)
Bookkeeping
Debit
Depreciation
Petty cash
2. Daily recording of accounts or transactions of a business.
Voucher check
Accounts receivable
Bookkeeping
Traveler's checks
3. Check endorsed by its payee to another party who becomes the holder in due course. Most places do not accept third party checks.
A/are ratio
Depreciation
Third party check
Net salary
4. Voucher - cashiers - personal - certified and travelers.
W-2
What type of checks are you willing to receive?
Employee's withholding allowance certificate
Bookkeeping
5. 1. Write legibly 2. Black ink 3. Align columns 4. Double check math 5. Decimal points placed correctly 6. Characters should fit in spaces 7. Information should be current
What kind of details are crucial in posting and calculating financial transactions? (6)
Accounts payable
patient ledger
Medisoft program
6. Practice office program. An accounting system used in medical practices.
Debit
write-it-once program
Medisoft program
Liabilities
7. AKA write it once system. Is the most commonly used manual medical accounts receivable system
Collection ratio
Accounting
pegbord
Balance sheet
8. Shows you What was delivered against a purchase order
Packing slip
What type of checks are you willing to receive?
Medisoft program
W-4
9. The bank has 'certified' with a date and signature to indicate that the check is good for the amount for which it is written.
Certified check
Bookkeeping
Packing slip
Voucher check
10. Cost that does not vary in total as the number of patients vary
Fixed cost
patient ledger
Third party check
P.O.
11. Available in most banks and are convenient ans safer to use than cash when traveling.
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12. Column. Increases or decreases to patient accounts not due to charges incurred or payments received.
Invoice
Double-entry system
Adjustment
Money the clinic has to collect is recorded in?
13. Like an invoice. Totaling items ordered - number ordered and cost. (Becky's definition.. not the best as This is not an invoice - but is an order for goods and/or services)
Invoice
Accounts payable
Net salary
Purchase order
14. The % of outstanding debt collected. (Gross income/The amount that could have been collected) The goal is 90% (SHOWS THE PERCENTAGE OF OUTSTANDING DEBT COLLECTED)
Collection ratio
Petty cash
daysheet
Money the clinic has to collect is recorded in?
15. National provider identifier
NPI
What kind of details are crucial in posting and calculating financial transactions? (6)
W-2
daysheet
16. Debts - financial obligations for which one is responsible
Liabilities
Packing slip
write-it-once program
Debit
17. A type of check with a stub attached that can be used to indicate invoice dates - services provided and so on. Payroll checks are written on voucher checks.
ROA
NPI
Voucher check
Variable cost
18. To be paid column
Invoice
Debit
Accounts receivable
Money the clinic has to collect is recorded in?
19. Amount owed. Total when all accounting is done.
Medisoft program
daysheet
Voucher check
balance
20. Superbill - patient ledger and day sheet
Where could you find charges for a patients office visit posted?
Petty cash
Assets
write-it-once program
21. Money owed to a business
P.O.
Accounting
patient ledger
Accounts receivable
22. Costs that fluctuate according to the demands of the business. (ex: salary - supplies - cost of treating patients - blood draw supplies - etc.)
Variable cost
Medisoft program
What do you want to look for when receiving a patient check?
Debit
23. Patient account record. Record of all transactions on a patients account.
patient ledger
Debit
Balance sheet
Credit
24. Take home pay after all deductions
ROA
Accounts payable
Net salary
NPI
25. The system of recording transactions having two fundamental aspects - one involving the receiving of a benefit and the other to giving the benefit - in the same set of books.
patient ledger
Double-entry system
Traveler's checks
Medisoft program
26. Accounts receivable
What type of checks are you willing to receive?
Variable cost
Credit
A/are
27. A formula that measures the SPEED by which outstanding accounts are paid
Debit
Employee's withholding allowance certificate
Accounts payable
A/are ratio
28. Received on account
NPI
Purchase order
balance
ROA
29. A system of monitoring the financial status of a business.
Traveler's checks
Gross salary
What type of checks are you willing to receive?
Accounting
30. What you earned before deductions
Gross salary
Medisoft program
Where could you find charges for a patients office visit posted?
Depreciation
31. W4
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32. Money the business owes
Collection ratio
balance
write-it-once program
Accounts payable
33. Itemized statement of assets - liabilities and equity. A statement of financial condition.
Certified check
Employee's withholding allowance certificate
Balance sheet
W-4
34. An accounts receivable formula that measures the speed in which outstanding accounts are paid. (outstanding accounts receivable/average monthly gross income)
pegbord
Purchase order
Accounts payable
Accounts receivable ratio
35. A record of all transactions for that day (used on pegbord system)
Purchase order
Assets
daysheet
Accounts receivable
36. Determines exemptions or withholding allowances
W-4
Adjustment
What type of checks are you willing to receive?
daysheet
37. Purchase order
P.O.
W-4
Double-entry system
Purchase order
38. Accounts receivable.
Money the clinic has to collect is recorded in?
ROA
NPI
What do you want to look for when receiving a patient check?
39. AKA pegboard system
patient ledger
write-it-once program
Purchase order
A/P
40. Accounts payable
Collection ratio
A/are ratio
A/P
Purchase order
41. A decline in the value of assets. A method of allocating the cost of a tangible asset over its useful life.
What type of checks are you willing to receive?
Depreciation
Third party check
Traveler's checks
42. Lists items and charges for goods ans services already received
Invoice
daysheet
Accounts receivable ratio
Accounts receivable
43. Properties of value owned by a business
Assets
Accounts receivable
ROA
Double-entry system
44. Date - Name/add - Signature & name should match - Amount - Made out to the correct place/person
Liabilities
Accounts receivable ratio
Accounting
What do you want to look for when receiving a patient check?
45. Reduces the balance owed
W-2
Petty cash
Assets
Credit
46. AKA encounter form or charge slip. A copy of the encounter form is given to the patient after seeing the provider. Identifies the procedures performed - diagnosis - charges and when to return.
NPI
Medisoft program
Fixed cost
superbill
47. Summary of all deductions - gross pay - net pay etc for the previous tax year. Must be sent out to employees no later than Jan 31 of each year.
W-2
A/are ratio
daysheet
Liabilities