Exam (elaborations)
Chapter 15 Bookkeeping Test Review Questions and Answers A+ Graded
- Course
- Institution
Chapter 15 Bookkeeping Test Review Questions and Answers A+ Graded
[Show more]
Content preview
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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursephil2023. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now