Test your basic knowledge |

Bookkeeping Accounting

Instructions:

Answer 32 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. List of items with prices - sometimes serves as a bill
invoice
gross salary
purchase order
what do you want to look for on a patients check

2. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
superbill
purchase order
W-2
third party check

3. Amount owed
ROA
Employee's withholding allowance certificate
variable cost
balance

4. Amount earned before deductions
write it once program
bookkeeping
gross salary
Employee's withholding allowance certificate

5. Properties of value that are owned by a business entity - supplies -equipment - property
gross salary
assets
adjustment
third party check

6. Day sheets - ledger card - encounter forms - receipt forms
accounts payable
write it once program
Name at least 4 things to check for/do when recording financial records
AR

7. A check written to one person from an other person or company
AP
third party check
purchase order
packing slip

8. Indicates the number of exemptions claimed by the employee for income tax purpose
W-4
AR
Name at least 4 things to check for/do when recording financial records
accounts receivable ratio

9. Received on account
AP
pegboard
ROA
third party check

10. Increase or decrease to patients account
packing slip
petty cash
adjustment
accounts receivable ratio

11. Signature - correct date - correct amount in both areas
accounts receivable ratio
collection ratio
accounting
what do you want to look for on a patients check

12. Accounts receivable
ROA
balance
AR
Name at least 4 things to check for/do when recording financial records

13. Daily recording of the accounts or transactions of the business
petty cash
bookkeeping
adjustment
variable cost

14. Money paid out for supplies and services
accounts payable
petty cash
W-2
write it once program

15. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely
accounts payable
W-2
ROA
Name at least 4 things to check for/do when recording financial records

16. Write it once program
variable cost
pegboard
third party check
what do you want to look for on a patients check

17. Shows % of outstanding debt collected
accounts payable
Name at least 4 things to check for/do when recording financial records
superbill
collection ratio

18. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
write it once program
superbill
liabilities
accounting

19. Salaries - cost of supplies - cost of treating patients - month to month changes
variable cost
AP
Employee's withholding allowance certificate
what do you want to look for on a patients check

20. Form used to record daily patient transactions
third party check
daysheet
AR
invoice

21. Debts and financial obligations for which one is responsible - legal responsibility
gross salary
W-4
liabilities
accounts payable

22. Purchase order
patient ledger
adjustment
accounts receivable ratio
PO

23. Money kept in the office for minor - routine - or unexpected expenses
PO
variable cost
adjustment
petty cash

24. Encounter form - common procedures and diagnosis
assets
Employee's withholding allowance certificate
superbill
accounts payable

25. W-4

26. The money owed to the office by the patient
W-2
accounts receivable
W-4
ROA

27. Accounts payable
PO
packing slip
balance
AP

28. List of items to be purchase with approval
accounting
what do you want to look for on a patients check
patient ledger
purchase order

29. Formula that measures the speed in which outstanding accounts are paid
daysheet
accounts payable
accounts receivable ratio
accounts receivable

30. Gross earning minus taxes and deductions - take home pay
net salary
accounts receivable ratio
AR
AP

31. List all charges payments and adjustments - balance up to date
net salary
W-4
gross salary
patient ledger

32. List of items in a package - no dollar amounts
ROA
write it once program
Employee's withholding allowance certificate
packing slip