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Chapter 15 Bookkeeping Test Review Questions with correct answers $11.49   Add to cart

Exam (elaborations)

Chapter 15 Bookkeeping Test Review Questions with correct answers

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Chapter 15 Bookkeeping Test Review Questions with correct answers

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  • August 13, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Bookkeeping
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BravelRadon
Chapter 15 Bookkeeping Test Review
Questions

Amounts owed to creditors are known as - correct answer ✔✔Accounts payable



Professional discounts, courtesy adjustments, and disallowances by insurance companies are examples
of - correct answer ✔✔Adjustments



In a manual bookkeeping system, copies of the ledger card can be used as - correct answer ✔✔Patient
statements



An accounting method that is not self balancing is - correct answer ✔✔Single entry accounting



Cash, inventory, furniture, and equipment are types of - correct answer ✔✔Assets



Change for a patient who pays cash is made from the - correct answer ✔✔Change drawer



For minor office expenses, money should be taken from the - correct answer ✔✔Petty cash drawer



Recording the financial affairs of a business is the main purpose of all - correct answer ✔✔Bookkeeping
systems



Amounts paid out for the expenses of the medical practice are recorded in the - correct answer
✔✔Accounts payable ledger



Payments at the time of service and payments are received by mail must be recorded - correct answer
✔✔Daily

, It is important that each day is cash and check receipts equal of the days total - correct answer ✔✔Bank
deposit



Recording each transaction on a daily ledger is referred to as - correct answer ✔✔Posting



Most medical practices rely on the administrative medical assistant to have solid - correct answer
✔✔Bookkeeping skills



Fees for office visits, laboratory tests, medical supplies, and other services for patients are - correct
answer ✔✔Charges



A common book keeping abbreviation for coinsurance is - correct 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 - correct answer ✔✔Bank deposit slip



Depending on the size of the practice, a change drawer typically holds - correct answer ✔✔$50-$200



If an over payment has been received from an insurance company or from a patient and the account is
paid in full, which type of transaction must be made? - correct answer ✔✔Refund adjustment



Bookkeeping - correct answer ✔✔Is the recording of all transactions in the accounting system



Computerized accounting - correct answer ✔✔Allows simultaneous posting through the computer
database



In a computerized system, charges are posted - correct answer ✔✔automatically when inputting the
correct procedure code



In manual bookkeeping, an adjustment is posted - correct answer ✔✔Under the credit column

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