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Bookkeeping definitions Questions with complete solution 2024

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Bookkeeping definitions Questions with complete solution 2024 Bookkeeping definitions, Basic Bookkeeping, TLE Bookkeeping Grade 10, BASIC BOOKKEEPING - CHAPTER 1 - AN INTRODUCTION TO BOOKKEEPING, accounts payable - correct answer The management of debit incurred and not yet paid; money the pr...

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  • August 30, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Bookkeeping

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Bookkeeping definitions, Basic
Bookkeeping, TLE Bookkeeping Grade
10, BASIC BOOKKEEPING - CHAPTER 1
- AN INTRODUCTION TO
BOOKKEEPING,
accounts payable - correct answer ✔The management of debit incurred and
not yet paid; money the provider owes to others.


accounts receivable - correct answer ✔Money that is expected but has not
yet been received


adjustments - correct answer ✔Credits posted to the patient account record
when the provider's fee exceeds the amount allowed stated on the EOB


bookkeeping - correct answer ✔The recording of financial transactions in the
patient account records


collections - correct answer ✔The process of using all legal resources
available to collect payment for past due patient account balances


credit - correct answer ✔A bookkeeping entry that increases accounts
receivable; money owed to the provider; money counted as received by the
provider.


guarantor - correct answer ✔The individual who subscribes to an insurance
plan and accepts financial responsibility for the patient; responsibility for
payment

,invoice - correct answer ✔A list of products or services provided to the
healthcare facility for payment; billing statement that lists the amount owed for
goods or services provided


medically indigent - correct answer ✔Patients that are in need of medical
care, yet cannot pay


non-sufficient funds check (NSF) - correct answer ✔When a patient pays a
check without having sufficient funds in the bank to cover the payment so it is
returned to the provider unpaid


balance - correct answer ✔Amount available in an account for withdrawl or
use; total of the charges and credits


provider's fee schedule - correct answer ✔Fees established by the provider
for services rendered


liability - correct answer ✔the state of being responsible for something,
especially by law


asset - correct answer ✔Someone or something regarded by the company
as having value


debit - correct answer ✔money owed to the patient: paper says; money listed
as owed to the provider


patient account - correct answer ✔a running balance of all financial
transactions under the patient's account record

, encounter form - correct answer ✔document services rendered by capturing
the diagnosis and procedure codes


payments - correct answer ✔the action or process of paying someone or
something or of being paid


patient account statement - correct answer ✔provides a running balance, the
result of all the different financial transactions performed in the account,
including charges, payments, adjustments and credits


account - correct answer ✔a record in the general ledger used to collect and
store debit and credit amounts. Lists unpaid customer invoices: formal record
of the debits and credits relating to the person business etc.


posting - correct answer ✔balances in subledgers are shifted into the
general ledger; recording debits and credits on accounting Ledger


alpha search - correct answer ✔in the EMR, you search for the first three
letters of the patients name and their name appears


aging accounts - correct answer ✔lists unpaid customer invoices


debit balance - correct answer ✔Patient owes money on the account


credit balance - correct answer ✔The provider owes the patient money



Basic Bookkeeping

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