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. Increase or decrease to patients account
liabilities
adjustment
balance
what do you want to look for on a patients check

2. Encounter form - common procedures and diagnosis
PO
pegboard
superbill
daysheet

3. Daily recording of the accounts or transactions of the business
bookkeeping
net salary
AP
accounts receivable ratio

4. Accounts receivable
packing slip
accounting
gross salary
AR

5. Form used to record daily patient transactions
write it once program
daysheet
gross salary
assets

6. The money owed to the office by the patient
variable cost
W-4
pegboard
accounts receivable

7. Purchase order
Employee's withholding allowance certificate
collection ratio
invoice
PO

8. Debts and financial obligations for which one is responsible - legal responsibility
liabilities
purchase order
packing slip
bookkeeping

9. List all charges payments and adjustments - balance up to date
net salary
collection ratio
bookkeeping
patient ledger

10. Amount earned before deductions
accounts receivable ratio
balance
invoice
gross salary

11. Money paid out for supplies and services
write it once program
accounts payable
petty cash
PO

12. A check written to one person from an other person or company
third party check
pegboard
balance
purchase order

13. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
W-2
liabilities
daysheet
variable cost

14. Received on account
packing slip
third party check
net salary
ROA

15. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
bookkeeping
accounts receivable ratio
balance
accounting

16. Accounts payable
AP
W-2
variable cost
Employee's withholding allowance certificate

17. Salaries - cost of supplies - cost of treating patients - month to month changes
third party check
Name at least 4 things to check for/do when recording financial records
variable cost
AP

18. Shows % of outstanding debt collected
superbill
invoice
collection ratio
balance

19. Day sheets - ledger card - encounter forms - receipt forms
third party check
write it once program
ROA
gross salary

20. List of items to be purchase with approval
AR
what do you want to look for on a patients check
purchase order
third party check

21. Money kept in the office for minor - routine - or unexpected expenses
AR
accounting
petty cash
W-4

22. Gross earning minus taxes and deductions - take home pay
collection ratio
net salary
petty cash
purchase order

23. Indicates the number of exemptions claimed by the employee for income tax purpose
pegboard
W-4
AP
ROA

24. List of items in a package - no dollar amounts
gross salary
Name at least 4 things to check for/do when recording financial records
packing slip
liabilities

25. List of items with prices - sometimes serves as a bill
invoice
adjustment
net salary
PO

26. W-4

27. Write it once program
accounts payable
pegboard
purchase order
patient ledger

28. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely
third party check
Name at least 4 things to check for/do when recording financial records
collection ratio
gross salary

29. Amount owed
balance
petty cash
AP
variable cost

30. Signature - correct date - correct amount in both areas
patient ledger
gross salary
accounting
what do you want to look for on a patients check

31. Properties of value that are owned by a business entity - supplies -equipment - property
bookkeeping
liabilities
daysheet
assets

32. Formula that measures the speed in which outstanding accounts are paid
adjustment
liabilities
assets
accounts receivable ratio