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Chapter 15 Bookkeeping Test Review Questions and Answers A+ Graded
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Chapter 15 Bookkeeping Test Review Questions and Answers A+ Graded
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Chapter 15 Bookkeeping Test ReviewQuestions and Answers A+ Graded
Amounts owed to creditors are known as - -Accounts payable
-Professional discounts, courtesy adjustments, and disallowances by
insurance companies are examples of - -Adjustments
-In a manual bookkeeping system, copies of the ledger card can be used as -
-Patient statements
-An accounting method that is not self balancing is - -Single entry
accounting
-Cash, inventory, furniture, and equipment are types of - -Assets
-Change for a patient who pays cash is made from the - -Change drawer
-For minor office expenses, money should be taken from the - -Petty cash
drawer
-Recording the financial affairs of a business is the main purpose of all - -
Bookkeeping systems
-Amounts paid out for the expenses of the medical practice are recorded in
the - -Accounts payable ledger
-Payments at the time of service and payments are received by mail must
be recorded - -Daily
-It is important that each day is cash and check receipts equal of the days
total - -Bank deposit
-Recording each transaction on a daily ledger is referred to as - -Posting
-Most medical practices rely on the administrative medical assistant to have
solid - -Bookkeeping skills
-Fees for office visits, laboratory tests, medical supplies, and other services
for patients are - -Charges
-A common book keeping abbreviation for coinsurance is - -COINS.
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