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. List of items with prices - sometimes serves as a bill
AR
collection ratio
third party check
invoice

2. Properties of value that are owned by a business entity - supplies -equipment - property
what do you want to look for on a patients check
assets
accounting
accounts receivable ratio

3. Money kept in the office for minor - routine - or unexpected expenses
net salary
patient ledger
petty cash
balance

4. W-4

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5. 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
Employee's withholding allowance certificate
balance
pegboard

6. The money owed to the office by the patient
accounts receivable
superbill
third party check
purchase order

7. Formula that measures the speed in which outstanding accounts are paid
gross salary
Employee's withholding allowance certificate
ROA
accounts receivable ratio

8. Purchase order
W-2
PO
accounts payable
net salary

9. Shows % of outstanding debt collected
PO
collection ratio
write it once program
accounts receivable ratio

10. Gross earning minus taxes and deductions - take home pay
pegboard
ROA
accounts receivable ratio
net salary

11. Amount owed
balance
superbill
net salary
liabilities

12. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
W-2
patient ledger
write it once program
accounting

13. Indicates the number of exemptions claimed by the employee for income tax purpose
AP
pegboard
packing slip
W-4

14. List of items to be purchase with approval
packing slip
purchase order
assets
petty cash

15. Accounts receivable
petty cash
AR
pegboard
purchase order

16. Day sheets - ledger card - encounter forms - receipt forms
write it once program
balance
Name at least 4 things to check for/do when recording financial records
superbill

17. Received on account
AP
collection ratio
accounts receivable ratio
ROA

18. List of items in a package - no dollar amounts
packing slip
W-4
net salary
PO

19. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
write it once program
accounting
balance
bookkeeping

20. Salaries - cost of supplies - cost of treating patients - month to month changes
PO
gross salary
collection ratio
variable cost

21. Write it once program
AP
AR
third party check
pegboard

22. Money paid out for supplies and services
pegboard
write it once program
accounts payable
third party check

23. A check written to one person from an other person or company
AR
third party check
what do you want to look for on a patients check
patient ledger

24. Signature - correct date - correct amount in both areas
assets
what do you want to look for on a patients check
third party check
petty cash

25. Encounter form - common procedures and diagnosis
collection ratio
PO
superbill
adjustment

26. Debts and financial obligations for which one is responsible - legal responsibility
liabilities
accounting
accounts receivable
collection ratio

27. List all charges payments and adjustments - balance up to date
PO
accounts receivable
patient ledger
pegboard

28. Increase or decrease to patients account
invoice
balance
adjustment
collection ratio

29. Accounts payable
petty cash
variable cost
what do you want to look for on a patients check
AP

30. Daily recording of the accounts or transactions of the business
Name at least 4 things to check for/do when recording financial records
ROA
accounts payable
bookkeeping

31. Form used to record daily patient transactions
liabilities
packing slip
daysheet
invoice

32. Amount earned before deductions
PO
collection ratio
accounts payable
gross salary