Petty cash fund - Study guides, Class notes & Summaries

PATIENT TRUST FUNDS Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 1) Policy: This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of accounts (Minimum: Quarterly) 2) Required Printed Information: Quarterly statements including all...

1. Which of the following is the primary benefit of numeric filing? A. Patient confidentiality is preserved B. Only the patients' names must be shown on the labels of the files C. Files may be stored either vertically or horizontally D. Color-coding is not necessary E. Less storage space is required - ANSWER A. 2. If a patient is unresponsive, which of the following should be assessed first? A. Blood pressure B. Pulse C. Pupils D. Muscle tone E. CAB (Circulation, Airway, and B...

A primary benefit of performing a bank reconciliation is: accuracy of cash reported in the balance sheet. accuracy of liabilities reported in the balance sheet. accuracy of revenues reported in the income statement. accuracy of cash reported in the balance sheet. A bank reconciliation reconciles the difference between the bank's balance of cash and the company's balance of cash related to: errors and fraud. timing differences. both timing differences and errors and fraud represent differenc...

Johnson thought the employer cheated him on his paycheck. He decided to take the money he was owed from the company petty cash fund. Johnson's actions should be viewed as a _____________ matter. A) Civil B) Criminal - answer-B) Criminal Two employees of the zoo were arguing about the treatment of the animals. They started fighting. An officer responded to the site and stopped the fight. He cited each of the employees for disturbing the peace. The officer's actions reflected the _______...

State of Michigan nursing home administrator test 2024 questions with complete solutions 1) Policy: ANS-Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 2) Required Printed Information: ANS-This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of ac...

PATIENT TRUST FUNDS 1) Policy: Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 2) Required Printed Information: This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of accounts (Minimum: Quarterly) 3) Procedure: American Institute o...

There are several reasons why the petty cash fund would experience a shortage or an overage. Determine which of the actions below would result in a shortage or an overage in the petty cash fund. The petty cashier underpaid for the amount due. The petty cashier obtained a receipt for the payment. The company cashier reduced the petty cash account. The petty cashier failed to get a receipt for payment. - ANSWER The petty cashier failed to get a receipt for payment. EFTcollection and cre...

PATIENT TRUST FUNDS - 1) Policy: - Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 2) Required Printed Information: - This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of accounts (Minimum: Quarterly) 3) Procedure: American Institute of CPA -...

ACCO 310 - financial reporting I MULTIPLE CHOICE—Conceptual final exam actual practice verified 2024 questions and answers Concordia University 1. The essential characteristic(s) of accounting is (are) a. communication of financial information to interested persons. b. communication of financial information about economic entities. c. identification, measurement, and communication of financial information. d. all of these. 2. Financial accounting is concerned with the process that cul...

Test Bank for Financial Accounting 12e 12th Edition by Jerry J. Weygandt, Paul D. Kimmel; Jill E. Mitchell. Full Chapters test bank are included (Chapter 1 to 13 + Appendix F,G,H,I,K) 1 Accounting in Action 1-1 Knowing the Numbers: Columbia Sportswear 1-1 1.1 Accounting Activities and Users 1-3 Three Activities 1-3 Data Analytics 1-4 Who Uses Accounting Data 1-5 1.2 The Building Blocks of Accounting 1-7 Ethics in Financial Reporting 1-8 Generally Accepted Accounting Pr...