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. Accounts receivable
pegboard
accounts receivable ratio
AR
third party check

2. Received on account
liabilities
petty cash
ROA
AR

3. Accounts payable
ROA
packing slip
AP
collection ratio

4. List all charges payments and adjustments - balance up to date
patient ledger
ROA
accounts receivable
accounts payable

5. List of items in a package - no dollar amounts
pegboard
packing slip
purchase order
net salary

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

7. Daily recording of the accounts or transactions of the business
W-2
accounting
AP
bookkeeping

8. Form used to record daily patient transactions
net salary
balance
daysheet
assets

9. Increase or decrease to patients account
collection ratio
adjustment
ROA
accounts receivable ratio

10. Shows % of outstanding debt collected
collection ratio
packing slip
ROA
variable cost

11. Debts and financial obligations for which one is responsible - legal responsibility
Name at least 4 things to check for/do when recording financial records
liabilities
W-2
accounts receivable

12. A check written to one person from an other person or company
balance
third party check
accounts receivable
liabilities

13. Day sheets - ledger card - encounter forms - receipt forms
Name at least 4 things to check for/do when recording financial records
write it once program
petty cash
W-2

14. Salaries - cost of supplies - cost of treating patients - month to month changes
packing slip
variable cost
accounts receivable ratio
W-2

15. Amount earned before deductions
AR
gross salary
superbill
balance

16. Summarizes all earning and deductions for the year and must be prepared for each employee by Jan 31
variable cost
W-2
W-4
third party check

17. Amount owed
invoice
purchase order
balance
daysheet

18. Write it once program
Name at least 4 things to check for/do when recording financial records
pegboard
packing slip
ROA

19. List of items to be purchase with approval
packing slip
purchase order
Employee's withholding allowance certificate
net salary

20. Formula that measures the speed in which outstanding accounts are paid
W-2
accounts receivable
Name at least 4 things to check for/do when recording financial records
accounts receivable ratio

21. Money kept in the office for minor - routine - or unexpected expenses
liabilities
assets
accounts receivable
petty cash

22. System of monitoring the financial status of a business and the results of its activities and providing info to make financial decisions
collection ratio
purchase order
bookkeeping
accounting

23. Properties of value that are owned by a business entity - supplies -equipment - property
assets
what do you want to look for on a patients check
Employee's withholding allowance certificate
ROA

24. Purchase order
PO
liabilities
gross salary
write it once program

25. Indicates the number of exemptions claimed by the employee for income tax purpose
W-4
accounts payable
bookkeeping
accounting

26. List of items with prices - sometimes serves as a bill
what do you want to look for on a patients check
assets
invoice
Name at least 4 things to check for/do when recording financial records

27. Signature - correct date - correct amount in both areas
balance
what do you want to look for on a patients check
liabilities
accounts payable

28. Money paid out for supplies and services
accounts payable
third party check
Name at least 4 things to check for/do when recording financial records
bookkeeping

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

30. Encounter form - common procedures and diagnosis
gross salary
assets
daysheet
superbill

31. Gross earning minus taxes and deductions - take home pay
third party check
AR
patient ledger
net salary

32. W-4