RMA 12

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  1. A list of all employees and their earnings, deductions, and other information is called

    A. Employee earnings
    B. Payroll tasks
    C. Accounts payable
    D. Payroll register
    E. Employer financial listing
  2. A payer's 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
  3. Recording financial transactions in a bookkeeping or accounting system is called

    A. Ledger
    B. Superbill
    C. Posting
    D. Trial balance
    E. Deducting
  4. Paper towels are considered

    A. Incidental items
    B. Durable items
    C. Capital equipment
    D. Clinical supplies
    E. Expendable items
  5. Amounts charged with suppliers or creditors that remain unpaid are referred to as

    A. Bookkeeping
    B. Account receivable
    C. Account balances
    D. Accounts payable
    E. Assets
  6. A collection 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 the net charges.
    C. The total collections divided by the gross charges.
    D. The total amount of money collected divided by any discounts.
    E. None of the above.
  7. The portion of the 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
  8. Which of the following may be used by a payer as a third party check?

    A. Payroll check
    B. Cashier's check
    C. Bank draft
    D. The payer's personal check
    E. Traveler's check
  9. A billing statement should include

    A. The patient's 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
  10. Which of the following due dates for Employer's Quarterly Federal Tax Returns is NOT correct?

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

    A. Means that the physician must collect the receiveables on time
    B. Is not necessary in a single physician office
    C. Is a tool to show the status of each account
    D. Involves writing off accounts that are over 1 year past due
    E. Involves writing off accounts that are over 5 years past due
  12. A piece of paper describing a purchase and the amount due is known as a

    A. Inventory
    B. Disbursement
    C. Vendor
    D. Packing slip
    E. Invoice
  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
  14. Which of the following statements regarding state unemployment tax is correct?

    A. Only employee must make a payment
    B. Only employer's 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
  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
  16. What is a trial balance?

    A. A daily summary
    B. A way of checking the accuracy of accounts
    C. An accounting system
    D. Accrual accounting
    E. Bookkeeping
  17. Cash amounts that are paid out are called

    A. Disbursement
    B. Statements
    C. Receivables
    D. Payables
    E. None of the above
  18. A vendor's invoice should be kept on file for at least how long?

    A. 1 year
    B. 3 years
    C. 5 years
    D. 10 years
    E. As long as the practice exists
  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
  20. Which of the following does debit mean?

    A. Total
    B. Subtract
    C. Charge
    D. Subtotal
    E. Balance
  21. When new supplies are recieved, 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
  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 cashier"s check
    D. On the guaranteed funds of a depositor
    E. On its funds to another bank
  23. The credit policies of the medical facility

    A. Should include a specification of when the practice requires payment
    B. Should be in writing
    C. Should vary depending on a patient's circumstances
    D. Both A and B
    E. Both B and C
  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 medical facility
    D. Only by the physician
    E. Only in emergencies
Card Set:
RMA 12
2010-08-24 14:40:10

RMA 12
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