Exam (elaborations)
Chapter 7 bookkeeping procedures Questions and Answers fully Solved
- Course
- Institution
Chapter 7 bookkeeping procedures
[Show more]
Content preview
Chapter 7 bookkeeping proceduresChecks that are received by the medical facility should be endorsed with a personal
endorsement - answer False
professional liability policies can be discarded after 5 years - answer False
The use of the accrual accounting method means that expenses are recorded when
bills are paid - answer False
Desired action is a common classification system that identifies the effect for which a
drug is given - answer True
Usually medical offices use alphabetic billing for billing purposes - answer False
Liabilities refer to money that is owed to the practice - 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 - answer False
Skips our patients that owe money and have moved, leaving no forwarding address -
answer True
A complimentary close is a required part of a memorandum - answer False
financial records pertaining to the patient are not a part of their medical record -
answerTrue
Topics such as domestic violence or child abuse or not appropriate for inclusion in the
family history record - answerTrue
Accounts payable is an accounting duty that is often performed by an independent
company outside the office - answerFalse
Charges for the services and payments for A patient should be kept track of on the daily
log - answerFalse
When a doctor is visiting a patient outside the office, in hospitals or nursing homes
duplicate patient records must be maintained - answerTrue
Money market accounts earn interest at the rate at which major corporations lend to or
borrow from one another - answerTrue
, On the deposit slip the ABA number should be entered - answerTrue
An encounter form is a type of charge slip that utilizes diagnostic and procedure codes -
answerTrue
Most medical facilities collect copayments or balances due from patient's each visit -
answerTrue
If the bank statement has been successfully reconciled then that means all of the
checks written by the office have been cleared - answerFalse
Balances beyond what is covered by insurance are usually collected at the time of the
visit - answerTrue
Past history is the portion of the medical history where childhood illnesses, surgeries,
hospital stays and invasive diagnostic tests are included - answerTrue
Liabilities refer to money that the practice owes - answerTrue
An account is typically considered overdue after 90 days - answerFalse
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 -
answerFalse
For established patients, the height and weight are recorded in the diagnosis
information - answerFalse
Other names for a charge slip include encounter form and super bill - answerTrue
Disbursements are considered to parts of accounts payable - answerTrue
Under most HMO plans, the patient who falls and is seriously injured must go to the
emergency room for treatment - answerFalse
Ledger balancing is the process which determines how long specific accounts and
balances have been outstanding - answerFalse
Bills for office rent, equipment rental, and salaries would be under accounts payable -
answerTrue
Patient teaching is very important to the prognosis of the patient. Any teaching should
therefore be - answerDocumented as part of the patient medical record
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80189 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now