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