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