Chapter 15 Bookkeeping Test Review Questions & Answers
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Course
Chapter 15 Bookkeeping
Institution
Chapter 15 Bookkeeping
Chapter 15 Bookkeeping Test Review Questions
Amounts owed to creditors are known as - Answer- Accounts payable
Professional discounts, courtesy adjustments, and disallowances by insurance companies are examples of - Answer- Adjustments
In a manual bookkeeping system, copies of the ledger c...
Chapter 15 Bookkeeping Test Review
Questions
Amounts owed to creditors are known as - Answer- Accounts payable
Professional discounts, courtesy adjustments, and disallowances by insurance
companies are examples of - Answer- Adjustments
In a manual bookkeeping system, copies of the ledger card can be used as -
Answer- Patient statements
An accounting method that is not self balancing is - Answer- Single entry accounting
Cash, inventory, furniture, and equipment are types of - Answer- Assets
Change for a patient who pays cash is made from the - Answer- Change drawer
For minor office expenses, money should be taken from the - Answer- Petty cash
drawer
Recording the financial affairs of a business is the main purpose of all - Answer-
Bookkeeping systems
Amounts paid out for the expenses of the medical practice are recorded in the -
Answer- Accounts payable ledger
Payments at the time of service and payments are received by mail must be
recorded - Answer- Daily
It is important that each day is cash and check receipts equal of the days total -
Answer- Bank deposit
Recording each transaction on a daily ledger is referred to as - Answer- Posting
Most medical practices rely on the administrative medical assistant to have solid -
Answer- Bookkeeping skills
Fees for office visits, laboratory tests, medical supplies, and other services for
patients are - Answer- Charges
A common book keeping abbreviation for coinsurance is - Answer- COINS.
Using pegboard accounting, at the same time that monies received ( cash and
checks ) are recorded on the day sheet, they are also recorded on a - Answer- Bank
deposit slip
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