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. Shows % of outstanding debt collected
collection ratio
accounting
what do you want to look for on a patients check
bookkeeping

2. Amount owed
balance
invoice
adjustment
accounts payable

3. Salaries - cost of supplies - cost of treating patients - month to month changes
variable cost
bookkeeping
pegboard
balance

4. A check written to one person from an other person or company
assets
third party check
W-4
accounts receivable

5. Amount earned before deductions
assets
W-2
balance
gross salary

6. List of items to be purchase with approval
purchase order
accounting
Employee's withholding allowance certificate
bookkeeping

7. Daily recording of the accounts or transactions of the business
bookkeeping
write it once program
Name at least 4 things to check for/do when recording financial records
balance

8. Received on account
third party check
ROA
PO
bookkeeping

9. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely
purchase order
balance
Name at least 4 things to check for/do when recording financial records
W-4

10. Accounts payable
W-4
collection ratio
net salary
AP

11. Write it once program
pegboard
adjustment
W-4
W-2

12. Money paid out for supplies and services
adjustment
petty cash
AP
accounts payable

13. Money kept in the office for minor - routine - or unexpected expenses
petty cash
purchase order
adjustment
Employee's withholding allowance certificate

14. W-4

15. List of items with prices - sometimes serves as a bill
W-2
accounts receivable ratio
invoice
PO

16. Properties of value that are owned by a business entity - supplies -equipment - property
patient ledger
accounts receivable ratio
balance
assets

17. Increase or decrease to patients account
adjustment
W-2
Name at least 4 things to check for/do when recording financial records
Employee's withholding allowance certificate

18. Formula that measures the speed in which outstanding accounts are paid
AP
patient ledger
accounts payable
accounts receivable ratio

19. Accounts receivable
accounts payable
Name at least 4 things to check for/do when recording financial records
AR
patient ledger

20. List all charges payments and adjustments - balance up to date
balance
patient ledger
assets
collection ratio

21. Signature - correct date - correct amount in both areas
AP
pegboard
what do you want to look for on a patients check
accounts payable

22. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
accounting
PO
patient ledger
purchase order

23. Form used to record daily patient transactions
daysheet
write it once program
balance
collection ratio

24. List of items in a package - no dollar amounts
AP
gross salary
accounts receivable
packing slip

25. Purchase order
PO
W-2
accounting
liabilities

26. Debts and financial obligations for which one is responsible - legal responsibility
invoice
assets
balance
liabilities

27. Day sheets - ledger card - encounter forms - receipt forms
W-4
write it once program
W-2
PO

28. Encounter form - common procedures and diagnosis
AP
superbill
invoice
daysheet

29. Gross earning minus taxes and deductions - take home pay
W-4
net salary
collection ratio
bookkeeping

30. Indicates the number of exemptions claimed by the employee for income tax purpose
daysheet
W-2
W-4
accounts receivable ratio

31. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
AR
petty cash
W-2
adjustment

32. The money owed to the office by the patient
purchase order
accounts receivable
AP
collection ratio