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. Debts and financial obligations for which one is responsible - legal responsibility
what do you want to look for on a patients check
liabilities
gross salary
superbill

2. Indicates the number of exemptions claimed by the employee for income tax purpose
W-4
accounts receivable ratio
variable cost
accounts payable

3. List of items to be purchase with approval
accounts receivable ratio
purchase order
Employee's withholding allowance certificate
what do you want to look for on a patients check

4. Money paid out for supplies and services
collection ratio
liabilities
accounts payable
net salary

5. Properties of value that are owned by a business entity - supplies -equipment - property
assets
net salary
accounts payable
adjustment

6. Increase or decrease to patients account
AR
adjustment
ROA
liabilities

7. Amount earned before deductions
adjustment
write it once program
W-2
gross salary

8. Purchase order
PO
assets
petty cash
accounts payable

9. Amount owed
balance
pegboard
assets
packing slip

10. Day sheets - ledger card - encounter forms - receipt forms
write it once program
net salary
W-2
W-4

11. W-4

12. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely
invoice
Name at least 4 things to check for/do when recording financial records
accounts receivable ratio
superbill

13. Form used to record daily patient transactions
bookkeeping
Name at least 4 things to check for/do when recording financial records
packing slip
daysheet

14. Salaries - cost of supplies - cost of treating patients - month to month changes
accounts payable
variable cost
W-4
invoice

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

16. List of items with prices - sometimes serves as a bill
Employee's withholding allowance certificate
invoice
AP
packing slip

17. Daily recording of the accounts or transactions of the business
third party check
bookkeeping
W-2
superbill

18. Gross earning minus taxes and deductions - take home pay
purchase order
net salary
accounts receivable
packing slip

19. List all charges payments and adjustments - balance up to date
third party check
Name at least 4 things to check for/do when recording financial records
patient ledger
purchase order

20. Money kept in the office for minor - routine - or unexpected expenses
liabilities
petty cash
AP
pegboard

21. Formula that measures the speed in which outstanding accounts are paid
accounts receivable ratio
accounting
invoice
balance

22. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
accounts receivable ratio
W-4
W-2
write it once program

23. Accounts receivable
balance
AR
Employee's withholding allowance certificate
third party check

24. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
AP
ROA
accounts receivable
accounting

25. Accounts payable
third party check
invoice
AP
packing slip

26. The money owed to the office by the patient
Name at least 4 things to check for/do when recording financial records
accounts receivable
packing slip
W-4

27. Shows % of outstanding debt collected
daysheet
net salary
variable cost
collection ratio

28. Encounter form - common procedures and diagnosis
invoice
patient ledger
third party check
superbill

29. Write it once program
W-2
Employee's withholding allowance certificate
purchase order
pegboard

30. A check written to one person from an other person or company
patient ledger
Employee's withholding allowance certificate
third party check
assets

31. Received on account
balance
write it once program
superbill
ROA

32. Signature - correct date - correct amount in both areas
Employee's withholding allowance certificate
what do you want to look for on a patients check
Name at least 4 things to check for/do when recording financial records
collection ratio