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. Write it once program
pegboard
ROA
net salary
accounts receivable

2. Indicates the number of exemptions claimed by the employee for income tax purpose
W-4
collection ratio
adjustment
PO

3. Encounter form - common procedures and diagnosis
purchase order
superbill
Employee's withholding allowance certificate
packing slip

4. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
what do you want to look for on a patients check
W-2
PO
petty cash

5. W-4

6. Amount earned before deductions
collection ratio
daysheet
gross salary
bookkeeping

7. List all charges payments and adjustments - balance up to date
patient ledger
accounting
AR
pegboard

8. Accounts receivable
AR
third party check
PO
write it once program

9. Salaries - cost of supplies - cost of treating patients - month to month changes
net salary
variable cost
purchase order
liabilities

10. List of items in a package - no dollar amounts
W-4
gross salary
W-2
packing slip

11. Formula that measures the speed in which outstanding accounts are paid
daysheet
variable cost
bookkeeping
accounts receivable ratio

12. Form used to record daily patient transactions
daysheet
superbill
W-4
bookkeeping

13. Properties of value that are owned by a business entity - supplies -equipment - property
adjustment
assets
third party check
invoice

14. 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
superbill
AP
what do you want to look for on a patients check

15. Money paid out for supplies and services
purchase order
accounts payable
W-4
gross salary

16. Money kept in the office for minor - routine - or unexpected expenses
accounts payable
PO
petty cash
third party check

17. List of items to be purchase with approval
Name at least 4 things to check for/do when recording financial records
purchase order
write it once program
accounts payable

18. Gross earning minus taxes and deductions - take home pay
Name at least 4 things to check for/do when recording financial records
assets
Employee's withholding allowance certificate
net salary

19. Received on account
liabilities
AP
ROA
accounts receivable ratio

20. Daily recording of the accounts or transactions of the business
AP
accounts payable
pegboard
bookkeeping

21. Increase or decrease to patients account
accounting
accounts payable
adjustment
net salary

22. Day sheets - ledger card - encounter forms - receipt forms
write it once program
patient ledger
PO
W-4

23. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
gross salary
accounting
variable cost
packing slip

24. Shows % of outstanding debt collected
invoice
collection ratio
pegboard
W-2

25. Signature - correct date - correct amount in both areas
what do you want to look for on a patients check
W-2
ROA
bookkeeping

26. Purchase order
ROA
PO
accounts payable
W-2

27. Debts and financial obligations for which one is responsible - legal responsibility
liabilities
accounts receivable ratio
packing slip
gross salary

28. Amount owed
pegboard
balance
daysheet
what do you want to look for on a patients check

29. Accounts payable
third party check
liabilities
packing slip
AP

30. The money owed to the office by the patient
PO
patient ledger
accounts receivable
purchase order

31. A check written to one person from an other person or company
petty cash
ROA
assets
third party check

32. List of items with prices - sometimes serves as a bill
balance
W-4
superbill
invoice