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Chapter 15 Bookkeeping Test Review Questions & Answers $9.49
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Chapter 15 Bookkeeping Test Review Questions & Answers
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Chapter 15 Bookkeeping Test Review Questions Amounts owed to creditors are known as - Answer- Accounts payable Professional discounts, courtesy adjustments, and disallowances by insurance companies are examples of - Answer- Adjustments In a manual bookkeeping system, copies of the ledger c...

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  • August 4, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Chapter 15 Bookkeeping

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Chapter 15 Bookkeeping Test Review
Questions
Amounts owed to creditors are known as - Answer- Accounts payable

Professional discounts, courtesy adjustments, and disallowances by insurance
companies are examples of - Answer- Adjustments

In a manual bookkeeping system, copies of the ledger card can be used as -
Answer- Patient statements

An accounting method that is not self balancing is - Answer- Single entry accounting

Cash, inventory, furniture, and equipment are types of - Answer- Assets

Change for a patient who pays cash is made from the - Answer- Change drawer

For minor office expenses, money should be taken from the - Answer- Petty cash
drawer

Recording the financial affairs of a business is the main purpose of all - Answer-
Bookkeeping systems

Amounts paid out for the expenses of the medical practice are recorded in the -
Answer- Accounts payable ledger

Payments at the time of service and payments are received by mail must be
recorded - Answer- Daily

It is important that each day is cash and check receipts equal of the days total -
Answer- Bank deposit

Recording each transaction on a daily ledger is referred to as - Answer- Posting

Most medical practices rely on the administrative medical assistant to have solid -
Answer- Bookkeeping skills

Fees for office visits, laboratory tests, medical supplies, and other services for
patients are - Answer- Charges

A common book keeping abbreviation for coinsurance is - 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 - Answer- Bank
deposit slip

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