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

2. Write it once program
write it once program
balance
packing slip
pegboard

3. Shows % of outstanding debt collected
superbill
third party check
collection ratio
variable cost

4. Received on account
ROA
purchase order
AP
net salary

5. Day sheets - ledger card - encounter forms - receipt forms
accounts payable
write it once program
adjustment
W-4

6. Amount earned before deductions
AR
packing slip
liabilities
gross salary

7. Amount owed
balance
liabilities
Employee's withholding allowance certificate
invoice

8. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
daysheet
assets
Employee's withholding allowance certificate
accounting

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

10. Accounts receivable
purchase order
accounting
AR
liabilities

11. List of items in a package - no dollar amounts
packing slip
accounts receivable
net salary
balance

12. Money kept in the office for minor - routine - or unexpected expenses
W-4
packing slip
bookkeeping
petty cash

13. List of items to be purchase with approval
accounting
gross salary
superbill
purchase order

14. Gross earning minus taxes and deductions - take home pay
W-4
Name at least 4 things to check for/do when recording financial records
net salary
third party check

15. W-4

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16. Properties of value that are owned by a business entity - supplies -equipment - property
assets
gross salary
accounting
liabilities

17. Debts and financial obligations for which one is responsible - legal responsibility
liabilities
daysheet
collection ratio
AP

18. Money paid out for supplies and services
what do you want to look for on a patients check
collection ratio
third party check
accounts payable

19. Formula that measures the speed in which outstanding accounts are paid
variable cost
patient ledger
accounts receivable ratio
third party check

20. List of items with prices - sometimes serves as a bill
invoice
bookkeeping
accounts receivable ratio
W-4

21. The money owed to the office by the patient
PO
patient ledger
Employee's withholding allowance certificate
accounts receivable

22. Increase or decrease to patients account
liabilities
purchase order
assets
adjustment

23. Salaries - cost of supplies - cost of treating patients - month to month changes
variable cost
purchase order
AP
pegboard

24. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
invoice
W-2
third party check
variable cost

25. Accounts payable
AP
accounting
collection ratio
W-4

26. Signature - correct date - correct amount in both areas
collection ratio
what do you want to look for on a patients check
petty cash
Employee's withholding allowance certificate

27. Form used to record daily patient transactions
daysheet
petty cash
Employee's withholding allowance certificate
ROA

28. A check written to one person from an other person or company
accounts receivable
Name at least 4 things to check for/do when recording financial records
third party check
W-4

29. Purchase order
PO
accounts receivable
pegboard
patient ledger

30. List all charges payments and adjustments - balance up to date
liabilities
pegboard
patient ledger
invoice

31. Daily recording of the accounts or transactions of the business
variable cost
superbill
accounts receivable
bookkeeping

32. Encounter form - common procedures and diagnosis
AR
superbill
PO
gross salary