Cert Quiz 15

heyguysitsclaire's version from 2016-03-16 21:21

Section 1

Question Answer
The patients bill or statement is also referred to as the patientsledger
The listing by individual patient names of all monies owed to the practice is the accounts receivable ledger
A check written from an account that does not have enough money for the amount of the check is call a(n)NSF check
The federal insurance and contribution act was created to sponsorsocial security and medicare
The process of verifying that the information on the bank statement agrees with the information in the check register isreconciling
When a discount or refund is applied to an account, it is referred to as a(n)adjustment
Activities that an office can do to assist in the collection of money owed to the practice includeasking patients at the time of service if they want to pay for the services by cash, check or charge
When a patient declares bankruptcy, the medical office mustcollect unpaid bills through the court appointed representative
The form enclosed with merchandise ordered from a vendor that states the contents of the package and the amount owed is a(n)invoice
If a check is written but not used, what is written across the front of the checkvoid
The amount of money earned before taxes or deductions are taken out is calledgross income
The cash kept on hand in a business practice used for incidental purposes is calledpetty cash
The money owed by the physician for items such as rent, utilities and payroll is referred to asaccounts payable
To balance a checkbook, you must havethe monthly bank statement
The signature of the payee of a check with instructions stating for deposit only is an example of a(n)restrictive endorsement

Section 2

Question Answer
The monitoring of unpaid accounts to determine how overdue the accounts are is calledaging accounts
The most common schedule of billing patients ismonthly
When the medical assistant is given the task of trying to collect payment on an account, it is appropriate practice to firstcontact the client about the overdue bill through a mailed letter or notice attached to his or her bill
When a charge is made to an account, it is called a(n)debit
A preprinted form that has the basic office charges listed and space for the patient's current charges is an example of a(n)superbill
An example of a debit adjustment is return of a nonsufficient fund check from the patients bank
When a check is received in the office, the medical assistant should first endorse the check in writing or with a rubber stamp reading 'for deposit only'
To reconcile a checking account, you mustensure that the information on the checking account agrees with the information in the check register
The amount of money an employee is paid after taxes are withheld is callednet income
At the end of each calendar year, the employer is required to provide a statement to each employee of the years total gross income and the taxes withheld, this form is theW-2
If a medical practice periodically had unexpected expenses and needed a loan, the practice owner could apply fora line of credit
A chart or table that includes a list and total of all the debit and credit accounts for a medical practice is a(n)monthly trial balance