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. Received on account
Name at least 4 things to check for/do when recording financial records
invoice
net salary
ROA

2. Indicates the number of exemptions claimed by the employee for income tax purpose
ROA
accounts payable
Employee's withholding allowance certificate
W-4

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

4. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
adjustment
AP
W-2
net salary

5. A check written to one person from an other person or company
write it once program
third party check
Employee's withholding allowance certificate
assets

6. Amount owed
W-4
balance
collection ratio
Name at least 4 things to check for/do when recording financial records

7. Money paid out for supplies and services
invoice
patient ledger
ROA
accounts payable

8. List of items to be purchase with approval
superbill
adjustment
purchase order
third party check

9. The money owed to the office by the patient
Employee's withholding allowance certificate
petty cash
assets
accounts receivable

10. List of items with prices - sometimes serves as a bill
invoice
write it once program
balance
ROA

11. Salaries - cost of supplies - cost of treating patients - month to month changes
write it once program
assets
variable cost
packing slip

12. Day sheets - ledger card - encounter forms - receipt forms
assets
superbill
PO
write it once program

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

14. Debts and financial obligations for which one is responsible - legal responsibility
gross salary
net salary
write it once program
liabilities

15. Write it once program
AP
pegboard
variable cost
write it once program

16. Accounts receivable
W-4
petty cash
invoice
AR

17. List all charges payments and adjustments - balance up to date
AP
packing slip
patient ledger
pegboard

18. W-4

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

19. Amount earned before deductions
gross salary
patient ledger
W-2
net salary

20. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
balance
accounting
W-4
AP

21. Formula that measures the speed in which outstanding accounts are paid
purchase order
adjustment
collection ratio
accounts receivable ratio

22. Properties of value that are owned by a business entity - supplies -equipment - property
accounting
bookkeeping
accounts payable
assets

23. Form used to record daily patient transactions
daysheet
ROA
petty cash
balance

24. Money kept in the office for minor - routine - or unexpected expenses
net salary
adjustment
gross salary
petty cash

25. List of items in a package - no dollar amounts
accounting
balance
W-2
packing slip

26. Purchase order
adjustment
balance
superbill
PO

27. Accounts payable
gross salary
net salary
AP
liabilities

28. Increase or decrease to patients account
adjustment
write it once program
daysheet
W-2

29. Encounter form - common procedures and diagnosis
pegboard
AR
net salary
superbill

30. Signature - correct date - correct amount in both areas
accounts receivable ratio
accounts payable
what do you want to look for on a patients check
superbill

31. Daily recording of the accounts or transactions of the business
bookkeeping
what do you want to look for on a patients check
adjustment
balance

32. Shows % of outstanding debt collected
invoice
collection ratio
gross salary
net salary