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. Column. Increases or decreases to patient accounts not due to charges incurred or payments received.
Debit
Gross salary
What type of checks are you willing to receive?
Adjustment

2. AKA pegboard system
Accounts payable
write-it-once program
Accounts receivable ratio
superbill

3. Daily recording of accounts or transactions of a business.
Double-entry system
Bookkeeping
Variable cost
Fixed cost

4. Take home pay after all deductions
A/are
Net salary
Medisoft program
Where could you find charges for a patients office visit posted?

5. A decline in the value of assets. A method of allocating the cost of a tangible asset over its useful life.
write-it-once program
Depreciation
Credit
balance

6. Accounts payable
Voucher check
pegbord
daysheet
A/P

7. Reduces the balance owed
NPI
Credit
patient ledger
Adjustment

8. Voucher - cashiers - personal - certified and travelers.
Voucher check
Certified check
What type of checks are you willing to receive?
Traveler's checks

9. Check endorsed by its payee to another party who becomes the holder in due course. Most places do not accept third party checks.
Third party check
Medisoft program
Collection ratio
Liabilities

10. Itemized statement of assets - liabilities and equity. A statement of financial condition.
balance
Balance sheet
Accounting
What do you want to look for when receiving a patient check?

11. National provider identifier
Accounting
Debit
NPI
Third party check

12. Patient account record. Record of all transactions on a patients account.
patient ledger
Where could you find charges for a patients office visit posted?
superbill
Accounts receivable ratio

13. 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.
Packing slip
superbill
Traveler's checks
Money the clinic has to collect is recorded in?

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)
Adjustment
Certified check
Collection ratio
superbill

15. A formula that measures the SPEED by which outstanding accounts are paid
Bookkeeping
Accounts receivable
A/are ratio
write-it-once program

16. W4

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17. To be paid column
A/are ratio
Debit
Depreciation
Liabilities

18. 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
Traveler's checks
Net salary
What kind of details are crucial in posting and calculating financial transactions? (6)
Variable cost

19. 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
Voucher check
W-4
superbill

20. The bank has 'certified' with a date and signature to indicate that the check is good for the amount for which it is written.
Credit
Certified check
NPI
patient ledger

21. Determines exemptions or withholding allowances
Certified check
Invoice
What kind of details are crucial in posting and calculating financial transactions? (6)
W-4

22. A system of monitoring the financial status of a business.
What do you want to look for when receiving a patient check?
balance
Accounts receivable
Accounting

23. Lists items and charges for goods ans services already received
Accounts receivable ratio
patient ledger
Invoice
P.O.

24. A sum kept in the office for unexpected - minor - or routine expenses. (ex postage due mail or coffee supplies)
Credit
balance
Variable cost
Petty cash

25. Money the business owes
A/are ratio
Accounts payable
Fixed cost
P.O.

26. Date - Name/add - Signature & name should match - Amount - Made out to the correct place/person
Debit
What do you want to look for when receiving a patient check?
Accounts payable
Accounts receivable

27. 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.
Money the clinic has to collect is recorded in?
Double-entry system
W-4
Debit

28. Shows you What was delivered against a purchase order
Packing slip
Accounts payable
Gross salary
Money the clinic has to collect is recorded in?

29. Money owed to a business
Accounts receivable
W-2
Depreciation
Voucher check

30. Debts - financial obligations for which one is responsible
What do you want to look for when receiving a patient check?
Liabilities
Accounts payable
Third party check

31. Properties of value owned by a business
Variable cost
Assets
NPI
Gross salary

32. Cost that does not vary in total as the number of patients vary
Accounts payable
Fixed cost
Third party check
Bookkeeping

33. 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)
Bookkeeping
Petty cash
Purchase order
Accounts receivable

34. Amount owed. Total when all accounting is done.
A/are ratio
Voucher check
balance
W-4

35. Received on account
Employee's withholding allowance certificate
Money the clinic has to collect is recorded in?
Invoice
ROA

36. What you earned before deductions
Balance sheet
What do you want to look for when receiving a patient check?
Bookkeeping
Gross salary

37. An accounts receivable formula that measures the speed in which outstanding accounts are paid. (outstanding accounts receivable/average monthly gross income)
What do you want to look for when receiving a patient check?
Accounts receivable
Accounts receivable ratio
Balance sheet

38. Superbill - patient ledger and day sheet
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
Invoice

39. 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
Voucher check
Traveler's checks
Accounting

40. A record of all transactions for that day (used on pegbord system)
Collection ratio
Accounting
daysheet
Traveler's checks

41. Costs that fluctuate according to the demands of the business. (ex: salary - supplies - cost of treating patients - blood draw supplies - etc.)
pegbord
Variable cost
Adjustment
Net salary

42. Practice office program. An accounting system used in medical practices.
Medisoft program
NPI
Certified check
What kind of details are crucial in posting and calculating financial transactions? (6)

43. AKA write it once system. Is the most commonly used manual medical accounts receivable system
A/P
What type of checks are you willing to receive?
Invoice
pegbord

44. Accounts receivable
A/P
Assets
A/are
Collection ratio

45. Purchase order
Invoice
P.O.
A/are
Traveler's checks

46. Accounts receivable.
balance
Liabilities
Money the clinic has to collect is recorded in?
Where could you find charges for a patients office visit posted?

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

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