RMA 1

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Author:
KimJ
ID:
23841
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RMA 1
Updated:
2010-06-16 20:09:04
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RMA
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RMA 1
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  1. A list of all employees and their earnings, deductions and other info is called

    A Employee earnings
    B Payroll tasks
    C Accounts payable
    D Payroll register
    E Employee financial listing
    D
  2. A payers own check that is guaranteed by the bank is called a

    A counter check
    B cashiers check
    C money order
    D guaranteed check
    E certified check
    E
  3. Recording financial transaction in a book keeping or accounting system is called

    A ledger
    B superbill
    C Posting
    D trial balance
    E deducting
    C
  4. Paper towels are considered

    A incidental items
    B durable items
    C capital equipment
    D clinical supplies
    E expendable items
    E
  5. Amounts charged with suppliers or creditors that remain unpaid are referred to as

    A Bookkeeping
    B accounts receivable
    C account balances
    D accounts payable
    E assets
    D
  6. a collection ratio is

    A amount of money collected this year divided by the amount of money last year
    B total collections divided by net charges
    C total collections divded by gross charges
    D total amount of money collected
    E none of the above
    B
  7. portion of salary withheld from payroll for taxes

    A w-4 forms
    B Federa unemployment tax act
    C withholding
    D annual tax returns
    E FICA
    C
  8. Which of the following may be used bya payer as a third party check

    A payroll check
    B cashiers check
    C bank draft
    D payers personal check
    E travelers check
    A
  9. A billing statement should include

    A patients name and address
    B services rendered
    C balance due to the patient
    D Both B and C
    E All of the above
    E
  10. Which of the following due dates for employers quarterly federal tax returns is NOT correct

    A July 31
    B January 31
    C October 31
    D April 30
    E June 30
    E
  11. Aging accounts receivable

    A means the physician must collect the receivables on time
    B is not necessary in a single dr office
    C is a tool to show the status of each account
    D involves writting off accounts that are over 1 yr past due
    E involves writing off accounts that over 5 yrs past due
    C
  12. a piece of paper describing a purchase and the amount due is known as a

    A inventory
    B disbursment
    C vendor
    D packing slip
    E invoice
    E
  13. Evaluation of collection is based on

    A the collection ratio
    B the accounts receivable ratio
    C the bank statement balance
    D Both A and B
    E All of the above
    D
  14. Which of the following statements regarding state unemployment tax is correct

    A only employees mush make a payment
    B only employers must make a payment
    C a few states require both employees and employers to make a payment
    D a few states do not make it available
    E none of the above
    C
  15. The accounts receivable ratio shows

    A the dollar value of the services performed
    B how fast outstanding accounts are being paid
    C the number of outstanding accounts
    D Both B and C
    E Both A and B
    B
  16. What is the trial balance

    A a daily summary
    B a way of checking the accuracy of accounts
    C an accounting system
    D accrual accounting
    E bookkeeping
    B
  17. Cash amounts that are paid out are called

    A Disbursments
    B statements
    C receivables
    D payables
    E None of the above
    A
  18. A vendors invoice should be kept on file for at least how long

    A 1 yr
    B 3 yr
    C 5 yr
    D 10 yr
    E As long as the practice exists
    D
  19. The reviewing of financial data to verify accuracy and completeness is called

    A withholding taxes
    B auditing
    C annual tax returns
    D accounts payable
    E taking a trial balance
    B
  20. Which of the following does debit mean

    A total
    B subtract
    C charge
    D subtotal
    E balance
    C
  21. When new supplies are received, you should

    A throw out the old ones
    B place them in the front of the supply area
    C place them in the back of the supply area
    D inventory all supplies
    E Both A and D
    C
  22. A bank draft is a check drawn by a bank

    A that is not limited
    B that can be used as a third party check
    C that is less reliable than a cashiers check
    D on the guaranteed funds of a depositor
    E on its funds in another bank
    E
  23. The credit policies of a medical facility

    A should include a specification of when the practice requires payment
    B should be in writing
    C should vary depending on a patients circumstances
    D Both A and B
    E Both B and C
    D
  24. Petty cash may be used

    A for paying minor incidental expenses such as public transportation fees
    B paying an invoice for supplies ordered
    C paying the electric bill
    D only by the physician
    E only in emergencies
    A
  25. Which type of check is used for payroll because it itemizes the purposes for the check and deductions

    A bank draft
    B voucher check
    C limited check
    D certified check
    E cashiers check
    B
  26. An amount that constitutes an addition to revenue is called

    A Debit
    B Credit
    C Payables
    D Equity
    E Charge
    B
  27. A disadvantage of single-entry bookkeeping is that it

    A Is the most expensive system to set up
    B is hard to learn
    C makes errors hard to spot
    D is time consuming
    E is very rare in medical practices
    C
  28. Which of the following statements is true about a typical purchasing procedure in a medical office

    A an authorized person should be in charge of purchasing
    B receipts of goods shold be recorded
    C high quality goods should be ordered at the lowest price
    D shipments should be checked agains packing slips
    E All of the above
    E
  29. Which of the following is an appropriate collection technique

    A calling patienst at work to remind them
    B threatening legal action
    C calling patients at home after 10 pm
    D Sending a payment reminder in the form of a statement or letter when the account is 30 past due
    E None of the above is approptiate
    D
  30. The calculation that results from adding deposits in transit and subtracting outstanding checks from the bank balance at the end of the month is the

    A record of disbursements
    B record of deposits
    C adjusted bank balance
    D checkbook balance
    C

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