Chapter 7 bookkeeping procedures Question and answers verified to pass 2024
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Course
Bookkeeping
Institution
Bookkeeping
Chapter 7 bookkeeping procedures Question and answers verified to pass 2024 Chapter 7 bookkeeping procedures, Bookkeeping level 1, Record Keeping and Accounting,
Checks that are received by the medical facility should be endorsed with a personal endorsement - correct answer False
professio...
Chapter 7 bookkeeping procedures,
Bookkeeping level 1, Record Keeping
and Accounting,
Checks that are received by the medical facility should be endorsed with a
personal endorsement - correct answer ✔False
professional liability policies can be discarded after 5 years - correct answer
✔False
The use of the accrual accounting method means that expenses are recorded
when bills are paid - correct answer ✔False
Desired action is a common classification system that identifies the effect for
which a drug is given - correct answer ✔True
Usually medical offices use alphabetic billing for billing purposes - correct
answer ✔False
Liabilities refer to money that is owed to the practice - correct answer ✔False
If a third-party is to pay for a patient's medical services, all that is needed is for
the office to be notified - correct answer ✔False
Skips our patients that owe money and have moved, leaving no forwarding
address - correct answer ✔True
,A complimentary close is a required part of a memorandum - correct answer
✔False
financial records pertaining to the patient are not a part of their medical record
- correct answer ✔True
Topics such as domestic violence or child abuse or not appropriate for
inclusion in the family history record - correct answer ✔True
Accounts payable is an accounting duty that is often performed by an
independent company outside the office - correct answer ✔False
Charges for the services and payments for A patient should be kept track of
on the daily log - correct answer ✔False
When a doctor is visiting a patient outside the office, in hospitals or nursing
homes duplicate patient records must be maintained - correct answer ✔True
Money market accounts earn interest at the rate at which major corporations
lend to or borrow from one another - correct answer ✔True
On the deposit slip the ABA number should be entered - correct answer
✔True
An encounter form is a type of charge slip that utilizes diagnostic and
procedure codes - correct answer ✔True
Most medical facilities collect copayments or balances due from patient's each
visit - correct answer ✔True
, If the bank statement has been successfully reconciled then that means all of
the checks written by the office have been cleared - correct answer ✔False
Balances beyond what is covered by insurance are usually collected at the
time of the visit - correct answer ✔True
Past history is the portion of the medical history where childhood illnesses,
surgeries, hospital stays and invasive diagnostic tests are included - correct
answer ✔True
Liabilities refer to money that the practice owes - correct answer ✔True
An account is typically considered overdue after 90 days - correct answer
✔False
An agreement has been made with the patient to pay monthly installments,
the regulation that govern the written contract are known as the Lenders
Protective Act - correct answer ✔False
For established patients, the height and weight are recorded in the diagnosis
information - correct answer ✔False
Other names for a charge slip include encounter form and super bill - correct
answer ✔True
Disbursements are considered to parts of accounts payable - correct answer
✔True
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