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MBC smart book questions with complete solutions graded A+
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MBC smart book questions with complete solutions graded A+
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MBC smartbookWhat is the process of the methodical recording, classifying, and summarizing of business transactions? -
correct answer ✔✔Accounting
Which of the following is considered a disadvantage to accounting software programs? - correct answer
✔✔They take effort to learn.
What does Accounts Receivable in the label refer to? - correct answer ✔✔The balance due from patients
What bookkeeping method is based on the accounting equation? - correct answer ✔✔double-entry
method
When does an aging report begin? - correct answer ✔✔On the date of the transaction
Which person or entity may want to perform a review of all of the financial data? - correct answer
✔✔The IRS
An accountant
What is one advantage of accounting software? - correct answer ✔✔it saves time
"Proof of posting" means that the ______ balance. - correct answer ✔✔columns
Which of the following are examples of possible medical identity theft? - correct answer ✔✔Patient
complaints about bills for services they did not receive.
Medical records showing treatment that is inconsistent with the physical exam.
Checks with a different name than the patient's name.
What is the oldest system in bookkeeping? - correct answer ✔✔Single-entry method
, What year did the Red Flag Program Clarification Act amend the original definition of a creditor? -
correct answer ✔✔2010
Which report lists the amount of money owed to the practice, organized by the amount of time the
money has been owed? - correct answer ✔✔Aging report
What criteria are used to indicate what covered accounts require protection? - correct answer
✔✔Personal accounts that allow multiple payments
Personal accounts that allow multiple transactions
What is the process of the methodical recording, classifying, and summarizing of business transactions? -
correct answer ✔✔accounting
Which of the following are considered red flags in a medical office? - correct answer ✔✔Photo
identification that is inconsistent with a patient's appearance
Documents that are forged or altered
Notifications of identity theft from a patient
Which of the following is considered a disadvantage to accounting software programs? - correct answer
✔✔they take effort to learn
Which of the following are common banking tasks in a medical office practice? - correct answer
✔✔Writing and accepting checks
Making deposits
Reconciling bank statements
Endorsing checks
What is a fast-growing area of criminal activity the administrative medical assistant should be aware of? -
correct answer ✔✔Medical identity theft
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