Test your basic knowledge |

Bookkeeping Accounting

Subject : business-skills
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. Formula that measures the speed in which outstanding accounts are paid






2. Properties of value that are owned by a business entity - supplies -equipment - property






3. Daily recording of the accounts or transactions of the business






4. Debts and financial obligations for which one is responsible - legal responsibility






5. Amount owed






6. Received on account






7. List of items in a package - no dollar amounts






8. Amount earned before deductions






9. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31






10. Accounts receivable






11. W-4


12. Increase or decrease to patients account






13. Accounts payable






14. Gross earning minus taxes and deductions - take home pay






15. A check written to one person from an other person or company






16. Money paid out for supplies and services






17. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely






18. Salaries - cost of supplies - cost of treating patients - month to month changes






19. Indicates the number of exemptions claimed by the employee for income tax purpose






20. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions






21. List of items to be purchase with approval






22. Shows % of outstanding debt collected






23. Day sheets - ledger card - encounter forms - receipt forms






24. Form used to record daily patient transactions






25. Money kept in the office for minor - routine - or unexpected expenses






26. List of items with prices - sometimes serves as a bill






27. Signature - correct date - correct amount in both areas






28. Write it once program






29. List all charges payments and adjustments - balance up to date






30. Purchase order






31. Encounter form - common procedures and diagnosis






32. The money owed to the office by the patient