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