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Chapter 15—Bookkeeping questions with 100% correct answers rated A+
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Chapter 15—Bookkeeping questions with 100% correct answers rated A+
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Chapter 15—Bookkeepingaccounting - correct answer ✔✔process of keeping financial accounts
bookkeeper - correct answer ✔✔person whose job is to keep records of the financial affairs of a business
assets - correct answer ✔✔things that you own (e.g., equipment, furniture, bank accounts, buildings)
liabilities - correct answer ✔✔things that you owe; debts
debit - correct answer ✔✔adding to an account (increasing what you own and lessening what you owe)
credit - correct answer ✔✔subtracting from an account (selling what you own and allowing for bills that
you owe)
general ledger or daysheet - correct answer ✔✔a financial summary of patient activity for the day; all
charges to patients for treating them and all money received from them
accounts receivable - correct answer ✔✔what patients owe (what you need to receive)
accounts payable - correct answer ✔✔what you owe (e.g., rent, salaries, oil bill, cable bill)
petty cash - correct answer ✔✔an accessible store of money kept by an organization for expenditure on
small items (e.g., office supplies, cards, flowers)
payroll - correct answer ✔✔the total amount of wages and salaries paid by a company to its employees
capital - correct answer ✔✔money or other things owned by a company or available for a particular
purpose, such as starting a company or investing
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