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Test your basic knowledge |
Bookkeeping Accounting
Start Test
Study First
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. Properties of value that are owned by a business entity - supplies -equipment - property
PO
assets
packing slip
adjustment
2. Formula that measures the speed in which outstanding accounts are paid
accounts payable
bookkeeping
accounts receivable ratio
adjustment
3. Shows % of outstanding debt collected
gross salary
collection ratio
PO
W-2
4. Salaries - cost of supplies - cost of treating patients - month to month changes
variable cost
superbill
patient ledger
write it once program
5. Indicates the number of exemptions claimed by the employee for income tax purpose
purchase order
petty cash
adjustment
W-4
6. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely
pegboard
Name at least 4 things to check for/do when recording financial records
petty cash
W-4
7. Encounter form - common procedures and diagnosis
pegboard
superbill
W-2
gross salary
8. Money kept in the office for minor - routine - or unexpected expenses
petty cash
balance
daysheet
W-4
9. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
W-2
invoice
adjustment
ROA
10. Debts and financial obligations for which one is responsible - legal responsibility
W-2
gross salary
liabilities
Name at least 4 things to check for/do when recording financial records
11. List of items to be purchase with approval
accounts receivable
purchase order
packing slip
what do you want to look for on a patients check
12. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
accounting
pegboard
accounts receivable
Name at least 4 things to check for/do when recording financial records
13. A check written to one person from an other person or company
variable cost
packing slip
third party check
W-2
14. Form used to record daily patient transactions
daysheet
net salary
accounting
Name at least 4 things to check for/do when recording financial records
15. Day sheets - ledger card - encounter forms - receipt forms
adjustment
accounts payable
balance
write it once program
16. Purchase order
superbill
AP
PO
Employee's withholding allowance certificate
17. Amount owed
daysheet
balance
adjustment
collection ratio
18. List of items in a package - no dollar amounts
AP
W-4
balance
packing slip
19. Increase or decrease to patients account
invoice
accounts payable
adjustment
purchase order
20. The money owed to the office by the patient
adjustment
accounts receivable
assets
packing slip
21. List all charges payments and adjustments - balance up to date
accounts receivable
packing slip
Name at least 4 things to check for/do when recording financial records
patient ledger
22. Amount earned before deductions
gross salary
petty cash
superbill
accounts receivable
23. List of items with prices - sometimes serves as a bill
packing slip
W-4
third party check
invoice
24. Signature - correct date - correct amount in both areas
balance
W-2
what do you want to look for on a patients check
third party check
25. W-4
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26. Accounts receivable
liabilities
AR
variable cost
pegboard
27. Write it once program
AP
third party check
assets
pegboard
28. Daily recording of the accounts or transactions of the business
bookkeeping
packing slip
Employee's withholding allowance certificate
daysheet
29. Received on account
Name at least 4 things to check for/do when recording financial records
ROA
bookkeeping
gross salary
30. Gross earning minus taxes and deductions - take home pay
variable cost
PO
net salary
petty cash
31. Money paid out for supplies and services
Name at least 4 things to check for/do when recording financial records
bookkeeping
accounts receivable ratio
accounts payable
32. Accounts payable
AR
AP
gross salary
assets