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Chapter 15 Bookkeeping Test Review Questions with correct answers
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Chapter 15 Bookkeeping Test Review Questions with correct answers
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Chapter 15 Bookkeeping Test ReviewQuestions
Amounts owed to creditors are known as - correct answer ✔✔Accounts payable
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
statements
An accounting method that is not self balancing is - correct answer ✔✔Single entry accounting
Cash, inventory, furniture, and equipment are types of - correct answer ✔✔Assets
Change for a patient who pays cash is made from the - correct answer ✔✔Change drawer
For minor office expenses, money should be taken from the - correct answer ✔✔Petty cash drawer
Recording the financial affairs of a business is the main purpose of all - correct answer ✔✔Bookkeeping
systems
Amounts paid out for the expenses of the medical practice are recorded in the - correct answer
✔✔Accounts payable ledger
Payments at the time of service and payments are received by mail must be recorded - correct answer
✔✔Daily
, It is important that each day is cash and check receipts equal of the days total - correct answer ✔✔Bank
deposit
Recording each transaction on a daily ledger is referred to as - correct answer ✔✔Posting
Most medical practices rely on the administrative medical assistant to have solid - correct answer
✔✔Bookkeeping skills
Fees for office visits, laboratory tests, medical supplies, and other services for patients are - correct
answer ✔✔Charges
A common book keeping abbreviation for coinsurance is - correct answer ✔✔COINS.
Using pegboard accounting, at the same time that monies received ( cash and checks ) are recorded on
the day sheet, they are also recorded on a - correct answer ✔✔Bank deposit slip
Depending on the size of the practice, a change drawer typically holds - correct answer ✔✔$50-$200
If an over payment has been received from an insurance company or from a patient and the account is
paid in full, which type of transaction must be made? - correct answer ✔✔Refund adjustment
Bookkeeping - correct answer ✔✔Is the recording of all transactions in the accounting system
Computerized accounting - correct answer ✔✔Allows simultaneous posting through the computer
database
In a computerized system, charges are posted - correct answer ✔✔automatically when inputting the
correct procedure code
In manual bookkeeping, an adjustment is posted - correct answer ✔✔Under the credit column
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