Exam (elaborations)
Chapter 15 Bookkeeping questions with answers
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Chapter 15 Bookkeeping questions with answers
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Chapter 15 BookkeepingAmounts owed to creditors are known as? - correct answer ✔✔Accounts payable
Professional discounts, courtesy adjustments and dis allowances 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? - correct answer ✔✔Change drawer
For minor office expenses, money should be taken from the? - correct answer ✔✔Petty cash fund
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 received by mail must be recorded when? - correct
answer ✔✔Daily
It is important that each day's cash and check receipts equal the days total? - correct answer ✔✔Bank
deposit
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