Test your basic knowledge |

Bookkeeping Accounting

Subject : business-skills
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. Properties of value that are owned by a business entity - supplies -equipment - property






2. Formula that measures the speed in which outstanding accounts are paid






3. Shows % of outstanding debt collected






4. Salaries - cost of supplies - cost of treating patients - month to month changes






5. Indicates the number of exemptions claimed by the employee for income tax purpose






6. Write clearly - double check math - place decimal point carefully/correctly - write small enough to fit in space - finish task completely






7. Encounter form - common procedures and diagnosis






8. Money kept in the office for minor - routine - or unexpected expenses






9. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31






10. Debts and financial obligations for which one is responsible - legal responsibility






11. List of items to be purchase with approval






12. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions






13. A check written to one person from an other person or company






14. Form used to record daily patient transactions






15. Day sheets - ledger card - encounter forms - receipt forms






16. Purchase order






17. Amount owed






18. List of items in a package - no dollar amounts






19. Increase or decrease to patients account






20. The money owed to the office by the patient






21. List all charges payments and adjustments - balance up to date






22. Amount earned before deductions






23. List of items with prices - sometimes serves as a bill






24. Signature - correct date - correct amount in both areas






25. W-4

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26. Accounts receivable






27. Write it once program






28. Daily recording of the accounts or transactions of the business






29. Received on account






30. Gross earning minus taxes and deductions - take home pay






31. Money paid out for supplies and services






32. Accounts payable