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Exam (elaborations)

Bookkeeping Exam Questions and Answers

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  • Course
  • Bookkeeping
  • Institution
  • Bookkeeping

Bookkeeping Exam Questions and Answers

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  • August 8, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Bookkeeping
  • Bookkeeping
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millyphilip
Bookkeeping Exam Questions and
Answers
Balance - Answer -Make sure the balance is akeays kept current on the patient ledger

Accounts Receivable Ratio - Answer -Formula measures the speed in which
outstanding accounts are payed

Bookkeeping - Answer -Actual daily recording of the accounts and transactions of the
business

Accounts receivable - Answer -Money the clinic has to collect

Petty cash - Answer -Money kept in office for unexpected expenses

W-4 - Answer -Employees withholding allowance certificate

Collection ratio - Answer -shows percentage of outstanding debt collected

Variable cost - Answer -Examples include: Cost of supplies, salaries, and over all
treating of patients

Purchase Order - Answer -Should be compared with bill for supplies

Net salary - Answer -Amount of a psyched after all deductions have been made

Pegboard/write it once program - Answer -Type of ledger

Superbill/patient ledger/day sheet - Answer -A form in which we post charges from a
patients office visit a record of all financial transactions and services for the day

What do you want to look for when receiving a patient check? - Answer -1) check ID
2) check that the number written matches the word written
3) check the signature
4) write the patients account number on the front

Third party check - Answer -Avoiding receiving these types of checks

Certified check - Answer -Checks willing to receive 1

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