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Bookkeeping Accounting

Instructions:

Answer 32 questions in 15 minutes.
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Match each statement with the correct term.
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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. Signature - correct date - correct amount in both areas
W-2
write it once program
what do you want to look for on a patients check
liabilities

2. List of items with prices - sometimes serves as a bill
invoice
accounting
ROA
adjustment

3. Debts and financial obligations for which one is responsible - legal responsibility
liabilities
petty cash
ROA
net salary

4. Amount earned before deductions
pegboard
collection ratio
adjustment
gross salary

5. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
accounting
net salary
W-2
balance

6. List of items to be purchase with approval
adjustment
purchase order
patient ledger
packing slip

7. Day sheets - ledger card - encounter forms - receipt forms
purchase order
write it once program
PO
accounts receivable

8. Received on account
Name at least 4 things to check for/do when recording financial records
ROA
PO
collection ratio

9. Encounter form - common procedures and diagnosis
accounts receivable ratio
invoice
superbill
collection ratio

10. Form used to record daily patient transactions
accounts payable
daysheet
Employee's withholding allowance certificate
packing slip

11. W-4

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12. Amount owed
bookkeeping
balance
accounts payable
accounts receivable ratio

13. Accounts receivable
pegboard
accounts receivable ratio
AR
W-2

14. Money kept in the office for minor - routine - or unexpected expenses
petty cash
what do you want to look for on a patients check
balance
accounts payable

15. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely
variable cost
petty cash
packing slip
Name at least 4 things to check for/do when recording financial records

16. Salaries - cost of supplies - cost of treating patients - month to month changes
adjustment
AP
third party check
variable cost

17. Shows % of outstanding debt collected
AP
collection ratio
accounts payable
purchase order

18. Gross earning minus taxes and deductions - take home pay
adjustment
bookkeeping
net salary
petty cash

19. Properties of value that are owned by a business entity - supplies -equipment - property
balance
assets
accounts payable
collection ratio

20. Purchase order
PO
superbill
assets
accounts receivable ratio

21. Formula that measures the speed in which outstanding accounts are paid
collection ratio
balance
write it once program
accounts receivable ratio

22. The money owed to the office by the patient
ROA
petty cash
accounts receivable
daysheet

23. Daily recording of the accounts or transactions of the business
gross salary
accounting
bookkeeping
patient ledger

24. Write it once program
packing slip
liabilities
pegboard
accounts receivable ratio

25. Money paid out for supplies and services
collection ratio
accounts payable
accounts receivable
patient ledger

26. List all charges payments and adjustments - balance up to date
W-4
petty cash
superbill
patient ledger

27. Increase or decrease to patients account
petty cash
patient ledger
adjustment
accounts payable

28. Accounts payable
AR
collection ratio
AP
write it once program

29. A check written to one person from an other person or company
adjustment
PO
purchase order
third party check

30. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
AP
patient ledger
accounts receivable ratio
W-2

31. List of items in a package - no dollar amounts
accounts receivable
packing slip
assets
what do you want to look for on a patients check

32. Indicates the number of exemptions claimed by the employee for income tax purpose
superbill
invoice
W-4
purchase order

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Test your basic knowledge |

Bookkeeping Accounting

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