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. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
daysheet
patient ledger
third party check
W-2

2. Form used to record daily patient transactions
balance
accounts receivable
accounts payable
daysheet

3. List of items in a package - no dollar amounts
third party check
collection ratio
petty cash
packing slip

4. Write it once program
purchase order
Name at least 4 things to check for/do when recording financial records
gross salary
pegboard

5. Formula that measures the speed in which outstanding accounts are paid
accounts receivable ratio
PO
Name at least 4 things to check for/do when recording financial records
ROA

6. Daily recording of the accounts or transactions of the business
patient ledger
W-4
bookkeeping
collection ratio

7. Debts and financial obligations for which one is responsible - legal responsibility
liabilities
pegboard
ROA
W-4

8. The money owed to the office by the patient
accounts receivable
AP
W-4
write it once program

9. List of items with prices - sometimes serves as a bill
accounts payable
balance
assets
invoice

10. List all charges payments and adjustments - balance up to date
bookkeeping
balance
patient ledger
petty cash

11. Properties of value that are owned by a business entity - supplies -equipment - property
AP
balance
patient ledger
assets

12. Indicates the number of exemptions claimed by the employee for income tax purpose
third party check
W-4
AP
invoice

13. Amount earned before deductions
Employee's withholding allowance certificate
balance
gross salary
PO

14. Signature - correct date - correct amount in both areas
Employee's withholding allowance certificate
third party check
invoice
what do you want to look for on a patients check

15. Purchase order
Name at least 4 things to check for/do when recording financial records
Employee's withholding allowance certificate
purchase order
PO

16. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
collection ratio
AR
accounting
assets

17. Salaries - cost of supplies - cost of treating patients - month to month changes
patient ledger
adjustment
accounting
variable cost

18. List of items to be purchase with approval
write it once program
W-2
purchase order
Employee's withholding allowance certificate

19. Amount owed
adjustment
third party check
patient ledger
balance

20. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely
Name at least 4 things to check for/do when recording financial records
AR
Employee's withholding allowance certificate
accounts receivable

21. Shows % of outstanding debt collected
collection ratio
accounts payable
liabilities
write it once program

22. A check written to one person from an other person or company
balance
petty cash
what do you want to look for on a patients check
third party check

23. Increase or decrease to patients account
accounting
balance
adjustment
petty cash

24. Day sheets - ledger card - encounter forms - receipt forms
accounting
write it once program
balance
petty cash

25. Money kept in the office for minor - routine - or unexpected expenses
gross salary
petty cash
invoice
PO

26. Money paid out for supplies and services
accounts payable
liabilities
gross salary
what do you want to look for on a patients check

27. Accounts receivable
AR
superbill
adjustment
collection ratio

28. Accounts payable
Name at least 4 things to check for/do when recording financial records
AP
PO
write it once program

29. Received on account
ROA
superbill
accounts payable
AR

30. W-4

31. Encounter form - common procedures and diagnosis
AR
what do you want to look for on a patients check
superbill
pegboard

32. Gross earning minus taxes and deductions - take home pay
AR
pegboard
net salary
what do you want to look for on a patients check