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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. Determines exemptions or withholding allowances
W-4
A/are
What type of checks are you willing to receive?
Assets
2. Amount owed. Total when all accounting is done.
write-it-once program
balance
Debit
Certified check
3. What you earned before deductions
A/are ratio
Double-entry system
Gross salary
ROA
4. An accounts receivable formula that measures the speed in which outstanding accounts are paid. (outstanding accounts receivable/average monthly gross income)
Where could you find charges for a patients office visit posted?
Accounts receivable ratio
Double-entry system
Adjustment
5. Accounts receivable
patient ledger
Traveler's checks
Money the clinic has to collect is recorded in?
A/are
6. National provider identifier
What do you want to look for when receiving a patient check?
NPI
daysheet
Debit
7. Costs that fluctuate according to the demands of the business. (ex: salary - supplies - cost of treating patients - blood draw supplies - etc.)
Variable cost
Accounting
Invoice
write-it-once program
8. Shows you What was delivered against a purchase order
Variable cost
What do you want to look for when receiving a patient check?
Packing slip
P.O.
9. Superbill - patient ledger and day sheet
Where could you find charges for a patients office visit posted?
Bookkeeping
NPI
Net salary
10. Purchase order
A/are
Net salary
P.O.
Balance sheet
11. Date - Name/add - Signature & name should match - Amount - Made out to the correct place/person
superbill
What do you want to look for when receiving a patient check?
NPI
Petty cash
12. Money the business owes
Voucher check
Accounting
Accounts payable
P.O.
13. Accounts payable
P.O.
A/are ratio
A/P
pegbord
14. Lists items and charges for goods ans services already received
Fixed cost
Petty cash
Adjustment
Invoice
15. Reduces the balance owed
pegbord
Certified check
Credit
A/are
16. Daily recording of accounts or transactions of a business.
Bookkeeping
A/P
Accounting
Third party check
17. The bank has 'certified' with a date and signature to indicate that the check is good for the amount for which it is written.
NPI
Net salary
Petty cash
Certified check
18. AKA pegboard system
Gross salary
balance
write-it-once program
Third party check
19. Take home pay after all deductions
Medisoft program
superbill
Money the clinic has to collect is recorded in?
Net salary
20. Accounts receivable.
Gross salary
Money the clinic has to collect is recorded in?
Net salary
A/are
21. Voucher - cashiers - personal - certified and travelers.
What type of checks are you willing to receive?
Accounts payable
Purchase order
Depreciation
22. 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)
Purchase order
What do you want to look for when receiving a patient check?
Where could you find charges for a patients office visit posted?
Variable cost
23. Practice office program. An accounting system used in medical practices.
Medisoft program
Net salary
A/are
Bookkeeping
24. Check endorsed by its payee to another party who becomes the holder in due course. Most places do not accept third party checks.
Accounting
Money the clinic has to collect is recorded in?
Third party check
Packing slip
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.
Where could you find charges for a patients office visit posted?
Packing slip
Double-entry system
W-2
26. Column. Increases or decreases to patient accounts not due to charges incurred or payments received.
Invoice
patient ledger
Packing slip
Adjustment
27. 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
Packing slip
Voucher check
Purchase order
28. A decline in the value of assets. A method of allocating the cost of a tangible asset over its useful life.
Petty cash
Depreciation
A/are ratio
Where could you find charges for a patients office visit posted?
29. Cost that does not vary in total as the number of patients vary
Liabilities
Fixed cost
W-4
What do you want to look for when receiving a patient check?
30. 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)
ROA
Invoice
Accounts receivable
31. Properties of value owned by a business
Depreciation
Assets
daysheet
A/P
32. Received on account
A/are
ROA
Packing slip
daysheet
33. 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.
superbill
W-4
Employee's withholding allowance certificate
P.O.
34. 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.
NPI
A/are
W-2
Medisoft program
35. AKA write it once system. Is the most commonly used manual medical accounts receivable system
Liabilities
Accounts receivable ratio
pegbord
Variable cost
36. A formula that measures the SPEED by which outstanding accounts are paid
A/are ratio
Accounts receivable
Depreciation
Purchase order
37. To be paid column
Debit
Traveler's checks
Money the clinic has to collect is recorded in?
W-2
38. Patient account record. Record of all transactions on a patients account.
Bookkeeping
Net salary
patient ledger
What do you want to look for when receiving a patient check?
39. Available in most banks and are convenient ans safer to use than cash when traveling.
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40. A record of all transactions for that day (used on pegbord system)
Debit
daysheet
Gross salary
Balance sheet
41. Debts - financial obligations for which one is responsible
patient ledger
Gross salary
balance
Liabilities
42. 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)
A/are ratio
pegbord
patient ledger
Collection ratio
43. Itemized statement of assets - liabilities and equity. A statement of financial condition.
Collection ratio
Accounts receivable
P.O.
Balance sheet
44. A system of monitoring the financial status of a business.
P.O.
daysheet
Accounts payable
Accounting
45. Money owed to a business
A/are
Assets
write-it-once program
Accounts receivable
46. W4
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47. A sum kept in the office for unexpected - minor - or routine expenses. (ex postage due mail or coffee supplies)
Where could you find charges for a patients office visit posted?
Petty cash
Third party check
W-4