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. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
Name at least 4 things to check for/do when recording financial records
accounting
superbill
purchase order

2. Form used to record daily patient transactions
net salary
purchase order
ROA
daysheet

3. Salaries - cost of supplies - cost of treating patients - month to month changes
variable cost
net salary
petty cash
pegboard

4. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
liabilities
W-2
PO
purchase order

5. Debts and financial obligations for which one is responsible - legal responsibility
accounts payable
bookkeeping
liabilities
purchase order

6. Formula that measures the speed in which outstanding accounts are paid
W-4
adjustment
daysheet
accounts receivable ratio

7. Money kept in the office for minor - routine - or unexpected expenses
accounting
accounts receivable
petty cash
W-2

8. The money owed to the office by the patient
accounts receivable
AP
adjustment
ROA

9. Received on account
accounts payable
ROA
AP
daysheet

10. Money paid out for supplies and services
assets
petty cash
W-4
accounts payable

11. Gross earning minus taxes and deductions - take home pay
net salary
Name at least 4 things to check for/do when recording financial records
purchase order
accounts receivable

12. Accounts receivable
W-4
liabilities
adjustment
AR

13. Indicates the number of exemptions claimed by the employee for income tax purpose
variable cost
Employee's withholding allowance certificate
accounting
W-4

14. W-4

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15. Write it once program
pegboard
patient ledger
AP
accounts payable

16. List of items with prices - sometimes serves as a bill
variable cost
invoice
assets
petty cash

17. List of items in a package - no dollar amounts
purchase order
accounts receivable ratio
packing slip
adjustment

18. Increase or decrease to patients account
adjustment
superbill
W-4
variable cost

19. Accounts payable
AP
variable cost
Employee's withholding allowance certificate
petty cash

20. Signature - correct date - correct amount in both areas
what do you want to look for on a patients check
W-2
assets
PO

21. Properties of value that are owned by a business entity - supplies -equipment - property
gross salary
superbill
packing slip
assets

22. Amount owed
balance
Employee's withholding allowance certificate
purchase order
collection ratio

23. Encounter form - common procedures and diagnosis
third party check
Employee's withholding allowance certificate
balance
superbill

24. Day sheets - ledger card - encounter forms - receipt forms
variable cost
Name at least 4 things to check for/do when recording financial records
pegboard
write it once program

25. Shows % of outstanding debt collected
accounts payable
adjustment
collection ratio
petty cash

26. A check written to one person from an other person or company
ROA
third party check
Name at least 4 things to check for/do when recording financial records
assets

27. List of items to be purchase with approval
Name at least 4 things to check for/do when recording financial records
accounts receivable
purchase order
Employee's withholding allowance certificate

28. Daily recording of the accounts or transactions of the business
Name at least 4 things to check for/do when recording financial records
variable cost
bookkeeping
collection ratio

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

30. Amount earned before deductions
gross salary
liabilities
accounts payable
W-2

31. Purchase order
AR
W-4
accounting
PO

32. List all charges payments and adjustments - balance up to date
variable cost
Employee's withholding allowance certificate
write it once program
patient ledger