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