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. Encounter form - common procedures and diagnosis
assets
AP
superbill
patient ledger

2. The money owed to the office by the patient
W-2
accounts receivable
Employee's withholding allowance certificate
third party check

3. List of items with prices - sometimes serves as a bill
Employee's withholding allowance certificate
collection ratio
invoice
PO

4. List all charges payments and adjustments - balance up to date
W-2
W-4
patient ledger
Employee's withholding allowance certificate

5. Properties of value that are owned by a business entity - supplies -equipment - property
assets
pegboard
ROA
invoice

6. List of items in a package - no dollar amounts
packing slip
accounts payable
W-2
accounts receivable ratio

7. Signature - correct date - correct amount in both areas
AR
superbill
what do you want to look for on a patients check
invoice

8. Day sheets - ledger card - encounter forms - receipt forms
packing slip
liabilities
daysheet
write it once program

9. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
Name at least 4 things to check for/do when recording financial records
variable cost
W-2
petty cash

10. Indicates the number of exemptions claimed by the employee for income tax purpose
net salary
ROA
W-4
purchase order

11. Gross earning minus taxes and deductions - take home pay
net salary
ROA
invoice
gross salary

12. Debts and financial obligations for which one is responsible - legal responsibility
balance
superbill
collection ratio
liabilities

13. Form used to record daily patient transactions
daysheet
purchase order
pegboard
Employee's withholding allowance certificate

14. List of items to be purchase with approval
packing slip
collection ratio
adjustment
purchase order

15. Amount owed
balance
accounting
liabilities
Name at least 4 things to check for/do when recording financial records

16. Money paid out for supplies and services
AP
net salary
collection ratio
accounts payable

17. Write it once program
pegboard
purchase order
ROA
patient ledger

18. Salaries - cost of supplies - cost of treating patients - month to month changes
W-2
petty cash
variable cost
accounts receivable

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

20. A check written to one person from an other person or company
accounting
write it once program
third party check
pegboard

21. Amount earned before deductions
petty cash
PO
gross salary
third party check

22. Accounts payable
AP
accounts payable
adjustment
petty cash

23. Purchase order
petty cash
AP
superbill
PO

24. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
accounting
W-4
bookkeeping
purchase order

25. Money kept in the office for minor - routine - or unexpected expenses
assets
Name at least 4 things to check for/do when recording financial records
purchase order
petty cash

26. Shows % of outstanding debt collected
Name at least 4 things to check for/do when recording financial records
superbill
Employee's withholding allowance certificate
collection ratio

27. Formula that measures the speed in which outstanding accounts are paid
PO
write it once program
accounts receivable ratio
purchase order

28. Increase or decrease to patients account
liabilities
adjustment
purchase order
bookkeeping

29. Received on account
packing slip
ROA
accounts receivable ratio
patient ledger

30. W-4

31. Daily recording of the accounts or transactions of the business
balance
ROA
gross salary
bookkeeping

32. Accounts receivable
patient ledger
AP
liabilities
AR