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RMA 12
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A list of all employees and their earnings deductions and other info is called?
A Employee earnings
B Accounts payable
C Payroll tasks
D Employee financial listing
E Payroll register
E
A payers own check is guaranteed by the bank is called a?
A Money order
B Guaranteed check
C Counters check
D Certified check
E Cashiers check
D
Recording financial transaction in a book-keeping or accounting system is called?
A Superbill
B Trial balance
C Ledger
D Deducting
E Posting
E
Paper towels are considered?
A Durable items
B Capital equipment
C Incidental items
D Clinical supplies
E Expendable items
E
Amounts charged with suppliers or creditors that remain unpaid are referred to as?
A Accounts payable
B Accounts receivable
C Account balances
D Assets
E Bookkeeping
A
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
The portion of salary held back from payroll checks for the purpose of paying government taxes is known as?
A Annual tax returns
B W-4 forms
C Federal Unemployment Tax Act
D Withholding
E FICA
D
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
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
Which of the following due dates for employers quarterly federal tax returns is NOT correct?
A June 30
B October 31
C July 31
D January 31
E April 30
A
Aging accounts receivable
A Is a tool to show the status of each account
B Is not necessary in a single physician office
C Invvolves writitng off accounts that are over 1 year past due
D Means that the physician must collect the receivables on time
E Involves writing off accounts that are over 5 years past due
A
A piece of paper describing a purchase and the amount due is known as?
A Vendor
B Disbursement
C Invoice
D Inventory
E Packing slip
C
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
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
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
What is the trial balance?
A A way of checking the accuracy of accounts
B Accrual accounting
C An accounting system
D Bookkeeping
E A daily summary
A
Cash amounts that are paid out are called?
A Disbursements
B Statements
C Receivables
D Payables
E None of the above
A
A vendors invoice should be kept on file for at least how long?
A 1 year
B 10 years
C 5 year
D 3 year
E Taking a trial balance
B
Which of the following does debit mean?
A Subtract
B Charge
C Total
D Subtotal
E Balance
B
The reviewing of financial data to verify accuracy and completeness is called?
A Taking a trial balance
B Withholding taxes
C Accounts payable
D Annual tax return
E Auditing
E
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
A bank draft is a check drawn by a bank
A That can be used as a third party check
B On its funds in another bank
C That is not limited
D On the guaranteed funds of a depositor
E That is less reliable than a cashiers check
B
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
Petty cash may be used?
A Only in emergencies
B Only by the physician
C For paying an invoice for supplies ordered
D For paying minor incidental expenses such as public transportation fares
E For paying the electric bill for the facility
D
Which type of check is frequently used for payroll because it itemizes the purposes for the check and deductions?
A Voucher check
B Bank draft
C Limited check
D Certified check
E Cashiers check
A
An amount that constitutes an addition to revenue is called?
A Credit
B Equity
C Debit
D Charge
E Payables
A
A disadvantage of single-entry bookkeepinhg is tha it?
A Is very rare in medical practices
B Is hard to learn
C Is time-consuming
D Makes errors hard to spot
E Is the most expensive system to set up
D
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
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
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 deposits
B Record of disbursements
C Adjusted bank balance
D checkbook balance
C
Author
KimJ
ID
30315
Card Set
RMA 12
Description
RMA 12
Updated
2010-08-24T13:45:21Z
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