Test your basic knowledge |

Bookkeeping

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. AKA pegboard system
What do you want to look for when receiving a patient check?
Traveler's checks
write-it-once program
pegbord

2. The bank has 'certified' with a date and signature to indicate that the check is good for the amount for which it is written.
superbill
Certified check
Accounts receivable
Third party check

3. Amount owed. Total when all accounting is done.
superbill
balance
write-it-once program
Collection ratio

4. Voucher - cashiers - personal - certified and travelers.
Packing slip
What type of checks are you willing to receive?
Invoice
Bookkeeping

5. 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.
Accounts payable
Accounts receivable ratio
superbill
Where could you find charges for a patients office visit posted?

6. To be paid column
superbill
Accounting
Debit
daysheet

7. Patient account record. Record of all transactions on a patients account.
Third party check
NPI
patient ledger
Money the clinic has to collect is recorded in?

8. Determines exemptions or withholding allowances
Petty cash
Accounts receivable
NPI
W-4

9. Money the business owes
Variable cost
Accounts payable
Where could you find charges for a patients office visit posted?
Voucher check

10. Column. Increases or decreases to patient accounts not due to charges incurred or payments received.
Adjustment
P.O.
Net salary
What do you want to look for when receiving a patient check?

11. Debts - financial obligations for which one is responsible
P.O.
Medisoft program
Liabilities
A/are

12. National provider identifier
NPI
balance
Assets
Employee's withholding allowance certificate

13. A record of all transactions for that day (used on pegbord system)
daysheet
superbill
P.O.
Liabilities

14. Accounts payable
patient ledger
A/P
Accounts payable
Employee's withholding allowance certificate

15. AKA write it once system. Is the most commonly used manual medical accounts receivable system
Net salary
pegbord
What do you want to look for when receiving a patient check?
daysheet

16. Accounts receivable
What kind of details are crucial in posting and calculating financial transactions? (6)
A/are
Variable cost
Invoice

17. 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
Fixed cost
What type of checks are you willing to receive?
What kind of details are crucial in posting and calculating financial transactions? (6)
A/P

18. A system of monitoring the financial status of a business.
Third party check
Fixed cost
Accounting
Net salary

19. Purchase order
Liabilities
Medisoft program
P.O.
Accounts payable

20. W4

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21. Check endorsed by its payee to another party who becomes the holder in due course. Most places do not accept third party checks.
ROA
Third party check
Assets
patient ledger

22. What you earned before deductions
Gross salary
Medisoft program
What type of checks are you willing to receive?
patient ledger

23. A decline in the value of assets. A method of allocating the cost of a tangible asset over its useful life.
NPI
Net salary
patient ledger
Depreciation

24. Received on account
ROA
write-it-once program
What type of checks are you willing to receive?
Certified check

25. Available in most banks and are convenient ans safer to use than cash when traveling.

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26. A formula that measures the SPEED by which outstanding accounts are paid
Money the clinic has to collect is recorded in?
A/are
Purchase order
A/are ratio

27. Take home pay after all deductions
Petty cash
Net salary
A/are
What type of checks are you willing to receive?

28. An accounts receivable formula that measures the speed in which outstanding accounts are paid. (outstanding accounts receivable/average monthly gross income)
write-it-once program
Accounts receivable ratio
Net salary
A/are ratio

29. 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)
Voucher check
patient ledger
Collection ratio
Accounts payable

30. Lists items and charges for goods ans services already received
W-4
Collection ratio
Invoice
Petty cash

31. Reduces the balance owed
patient ledger
Bookkeeping
Credit
W-2

32. Date - Name/add - Signature & name should match - Amount - Made out to the correct place/person
What do you want to look for when receiving a patient check?
Accounts receivable ratio
Third party check
write-it-once program

33. Money owed to a business
P.O.
daysheet
Accounts receivable
Third party check

34. 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.
patient ledger
Voucher check
P.O.
Where could you find charges for a patients office visit posted?

35. 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.
A/are
Double-entry system
Gross salary
P.O.

36. Practice office program. An accounting system used in medical practices.
Collection ratio
Medisoft program
Voucher check
W-4

37. A sum kept in the office for unexpected - minor - or routine expenses. (ex postage due mail or coffee supplies)
Accounts receivable
Petty cash
What type of checks are you willing to receive?
Depreciation

38. Daily recording of accounts or transactions of a business.
What type of checks are you willing to receive?
Voucher check
Bookkeeping
Accounts receivable

39. 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)
Certified check
Purchase order
write-it-once program
Employee's withholding allowance certificate

40. Cost that does not vary in total as the number of patients vary
ROA
Fixed cost
Accounts payable
Purchase order

41. Accounts receivable.
Variable cost
ROA
What kind of details are crucial in posting and calculating financial transactions? (6)
Money the clinic has to collect is recorded in?

42. Itemized statement of assets - liabilities and equity. A statement of financial condition.
Balance sheet
Purchase order
ROA
Where could you find charges for a patients office visit posted?

43. Properties of value owned by a business
Packing slip
W-2
Assets
daysheet

44. 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.
Debit
Voucher check
W-2
Depreciation

45. Shows you What was delivered against a purchase order
Packing slip
A/are
Medisoft program
Gross salary

46. Superbill - patient ledger and day sheet
Liabilities
Where could you find charges for a patients office visit posted?
Packing slip
Medisoft program

47. Costs that fluctuate according to the demands of the business. (ex: salary - supplies - cost of treating patients - blood draw supplies - etc.)
Certified check
Gross salary
Variable cost
Voucher check