RMA 12

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KimJ
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30315
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RMA 12
Updated:
2010-08-24 09:45:21
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RMA
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RMA 12
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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 is guaranteed by the bank is called a?

    A Counters 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 colection ratio is?

    A The amount of money collected this year divided by the amount of money collected last year
    B The total collections divided by net charges
    C The total collections divided by gross charges
    D The total amount of money collected divided by any discounts
    E None of the above
    B
  7. The portion of salary held back from payroll checks for the purpose of paying government taxes is known as?

    A W-4 forms
    B Federal Unemployment Tax Act
    C Withholding
    D Annual tax returns
    E FICA
    C
  8. Which of the following may be used by a payer as a third-party check?

    A Payroll check
    B Cashiers check
    C Balance due to the patient
    D Both B and C
    E All of the above
    A
  9. A billing statement should include?

    A The patients name and address
    B Services rendered on each date
    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 that the physician must collect the receivables on time
    B Is not necessary in a single physician office
    C Is a tool to show the status of each account
    D Invvolves writitng off accounts that are over 1 year past due
    E Involves writing off accounts that are over 5 years past due
    C
  12. A piece of paper describing a purchase and the amount due is known as?

    A Inventory
    B Disbursement
    C Vendor
    D Packing slip
    E Invoice
    E
  13. Evaluation of collection is based on?

    A The collection ratio
    B The accounts receibvable 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 must 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 Disbursements
    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 year
    B 3 year
    C 5 year
    D 10 years
    E Taking a trial balance
    D
  19. Which of the following does debit mean?

    A Total
    B Subtract
    C Charge
    D Subtotal
    E Balance
    C
  20. The reviewing of financial data to verify accuracy and completeness is called?

    A Withholding taxes
    B Auditing
    C Annual tax return
    D Accounts payable
    E Taking a trial balance
    B
  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
    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 fares
    B For paying an invoice for supplies ordered
    C For paying the electric bill for the facility
    D Only by the physician
    E Only in emergencies
    A
  25. Which type of check is frequently 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 bookkeepinhg is tha 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 should be recorded
    C High quality goods should be ordered at the lowest price
    D Shipments should be checked against packing slips
    E all of the above
    E
  29. Which of the following is an appropriate collection technique?

    A Calling patients at work to remind them of their financial obligation and to offer to work with them
    B Threatening legal action, even tho your office rarely undertakes legal action to collect
    C Calling patients at home after 10pm
    D Sending a payment reminder in the form of a statement or letter when the account is 30 days past due
    E None of the above is an appropriate collection technique
    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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