Accounts Payable Review 2024|Questions And Answers
1. which of the following is not and example of a negotiable instrument: credit card
2. what is the most common reason why the ending balances in checkbooks and bank statements
usually do not match.: transaction are made between the preparation and receipt of the
statement
3. which type of bank account would be best for maintaining funds that
are used for paying seasonal expenses, such as insurance premiums: inter- est-bearing checking
that required a high minimum balance
4. if you are not using a pegboard check-writing system, what is the first thing you must do when
writing a check.: fill in the check stub
5. what is represented by the number in the "balance forward" box on the check stub: the
amount you have in the account before writing the check
6. if you make a mistake when writing a check, the best practice is to: write "void" on it and file
with canceled checks
7. why is is usually poor policy to accept third-party checks from patients: you cannot verify the
reliability of the matter
8. if a bank cashes a check that is later returned for insufficient funds, whom does it charge to
recover the amount lost: the person who last endorsed the check
9. when should you deposit checks received from patients and other sources-
: as soon as possible after you receive them
10.which of the following is not one of the four types of endorsements: quality
11.what is the first thing the medical assistant should do when a check is returned unpaid by
the back: contact the person who wrote the check
12.which type of boding covers all employees in a facility: blanket-position bonding
13.any individual, corporation, or legal party who signs a check or any type negotiable instrument
is considered the: maker
14.online banking is often called: e-banking
15.which of the following would make an instrument nonnegotiable: it is payable to the
order of payer
16.what are some of the advantages of internet banking: customers do not have to wait in lines,
banking can be done from home, account information is available 24 hours
17.a capital sum of money due as a debt or used as a fund for which interest is either charged or
paid is called: principle
18.the country is divided into how many federal reserve district: 12
For assistance with assignments and revision materials contact
1. which of the following is not and example of a negotiable instrument: credit card
2. what is the most common reason why the ending balances in checkbooks and bank statements
usually do not match.: transaction are made between the preparation and receipt of the
statement
3. which type of bank account would be best for maintaining funds that
are used for paying seasonal expenses, such as insurance premiums: inter- est-bearing checking
that required a high minimum balance
4. if you are not using a pegboard check-writing system, what is the first thing you must do when
writing a check.: fill in the check stub
5. what is represented by the number in the "balance forward" box on the check stub: the
amount you have in the account before writing the check
6. if you make a mistake when writing a check, the best practice is to: write "void" on it and file
with canceled checks
7. why is is usually poor policy to accept third-party checks from patients: you cannot verify the
reliability of the matter
8. if a bank cashes a check that is later returned for insufficient funds, whom does it charge to
recover the amount lost: the person who last endorsed the check
9. when should you deposit checks received from patients and other sources-
: as soon as possible after you receive them
10.which of the following is not one of the four types of endorsements: quality
11.what is the first thing the medical assistant should do when a check is returned unpaid by
the back: contact the person who wrote the check
12.which type of boding covers all employees in a facility: blanket-position bonding
13.any individual, corporation, or legal party who signs a check or any type negotiable instrument
is considered the: maker
14.online banking is often called: e-banking
15.which of the following would make an instrument nonnegotiable: it is payable to the
order of payer
16.what are some of the advantages of internet banking: customers do not have to wait in lines,
banking can be done from home, account information is available 24 hours
17.a capital sum of money due as a debt or used as a fund for which interest is either charged or
paid is called: principle
18.the country is divided into how many federal reserve district: 12
For assistance with assignments and revision materials contact
