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. Daily recording of the accounts or transactions of the business
invoice
third party check
bookkeeping
AP

2. Money kept in the office for minor - routine - or unexpected expenses
purchase order
collection ratio
petty cash
Name at least 4 things to check for/do when recording financial records

3. Write it once program
PO
accounts receivable
pegboard
packing slip

4. Signature - correct date - correct amount in both areas
ROA
balance
accounts receivable
what do you want to look for on a patients check

5. Increase or decrease to patients account
invoice
accounts receivable ratio
accounting
adjustment

6. List of items to be purchase with approval
invoice
what do you want to look for on a patients check
accounting
purchase order

7. Amount owed
W-2
Employee's withholding allowance certificate
accounting
balance

8. Purchase order
PO
invoice
packing slip
balance

9. Form used to record daily patient transactions
daysheet
assets
gross salary
W-4

10. W-4

11. Shows % of outstanding debt collected
AP
collection ratio
invoice
patient ledger

12. List of items in a package - no dollar amounts
packing slip
gross salary
accounts payable
write it once program

13. Accounts receivable
AR
ROA
W-4
pegboard

14. Debts and financial obligations for which one is responsible - legal responsibility
liabilities
Employee's withholding allowance certificate
accounts receivable ratio
patient ledger

15. Received on account
Name at least 4 things to check for/do when recording financial records
collection ratio
assets
ROA

16. Gross earning minus taxes and deductions - take home pay
adjustment
W-4
net salary
assets

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

18. Formula that measures the speed in which outstanding accounts are paid
bookkeeping
PO
accounts receivable ratio
invoice

19. Accounts payable
accounts receivable ratio
AP
Employee's withholding allowance certificate
W-4

20. Money paid out for supplies and services
write it once program
accounts payable
PO
Name at least 4 things to check for/do when recording financial records

21. Amount earned before deductions
gross salary
accounts receivable ratio
Name at least 4 things to check for/do when recording financial records
what do you want to look for on a patients check

22. Indicates the number of exemptions claimed by the employee for income tax purpose
W-4
accounting
variable cost
superbill

23. A check written to one person from an other person or company
third party check
invoice
Employee's withholding allowance certificate
collection ratio

24. Day sheets - ledger card - encounter forms - receipt forms
adjustment
ROA
write it once program
invoice

25. The money owed to the office by the patient
Name at least 4 things to check for/do when recording financial records
invoice
accounts receivable
liabilities

26. Salaries - cost of supplies - cost of treating patients - month to month changes
Name at least 4 things to check for/do when recording financial records
variable cost
liabilities
packing slip

27. Encounter form - common procedures and diagnosis
superbill
net salary
Employee's withholding allowance certificate
petty cash

28. Properties of value that are owned by a business entity - supplies -equipment - property
assets
AR
Name at least 4 things to check for/do when recording financial records
accounts receivable ratio

29. List of items with prices - sometimes serves as a bill
AP
variable cost
W-2
invoice

30. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
W-2
collection ratio
ROA
balance

31. List all charges payments and adjustments - balance up to date
patient ledger
AR
accounts receivable ratio
variable cost

32. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
AR
accounting
daysheet
what do you want to look for on a patients check