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Chapter 15 Bookkeeping Test Review Questions and Answers
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Chapter 15 Bookkeeping Test Review Questions and Answers
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Chapter 15 Bookkeeping Test ReviewQuestions and Answers
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.
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