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Ch 15-Bookkeeping questions with 100% correct answers rated A+
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Ch 15-Bookkeeping questions with 100% correct answers rated A+
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Ch 15-Bookkeepingamount owed on a credit transaction - correct answer ✔✔balance
Professional discounts, courtesy adjustments, and disallowances by insurance companies are examples
of - correct answer ✔✔adjustments
In a manual bookkeeping system, copies of the ledger card can be used as - correct answer ✔✔Patient
Statement
In a accounting method that is not self balancing is - correct answer ✔✔Single entry accounting
Cash, inventory, furniture, and equipment are types of - correct answer ✔✔assets
For minor office expenses, money should be taken from the - correct answer ✔✔Petty cash fund
Recording the financial affairs of a business is the main purpose of all - correct answer ✔✔bookkeeping
systems
Change for a patient who pays cash is made from the - correct answer ✔✔Recording Disbusment
Amounts pd out for the expenses of the medical practice are recorded in the - correct answer
✔✔Accounts payable ledger
Payments at the time of svc and payments received by mail must be recorded when - correct answer
✔✔daily
It is important that each day's cash and check receipts equals the day's total - correct answer ✔✔bank
deposit
, Recording each transaction on a daily ledger card is referred to as - correct answer ✔✔posting
Fees for offices visit , lab tests, medical supplies and other services for patients are? - correct answer
✔✔Examples of Charges
A common bookkeeping abbreviation for coinsurance is? - correct answer ✔✔COINS
Using pegboard accounting at the same time that monies are received (cash and checks) are recorded on
the day sheet and also on? - correct answer ✔✔Bank deposit slip
Depending on the size of the practice, a change drawer typically holds? - correct answer ✔✔$50-$200
small bills
If an over payment has been received from an insurance company from a patient and then account is
paid in full, which type of transaction must be made? - correct answer ✔✔Refund adjustment
In a computerized systems, when are charges posted? - correct answer ✔✔Immediately/Automatically
In manual bookkeeping an adjustment is posted in what column? - correct answer ✔✔Credit column
under adjustment column
Who does the office send monthly statements to? - correct answer ✔✔Patients with outstanding
balances
Describe an accounts receivable control? - correct answer ✔✔Performed at the end of each month.
Brings forth any errors in calculations and compares the balance of all patient accounts with the month
end accounts receivable day sheet total.
Accounts payable - correct answer ✔✔Amounts owed to creditors for the regular operation of a
business are known as
Accounts receivable Leyer - correct answer ✔✔record showing the amounts owed for svcs rendered
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