Bookkeeping
Fast practice, instant feedback. Timer auto-submits when time’s up.
Avg score: 57% • Most missed: “Accounts receivable”
Bookkeeping
Time left 00:00
25 Questions

1. Money the business owes

2. Costs that fluctuate according to the demands of the business. (ex: salary - supplies - cost of treating patients - blood draw supplies - etc.)

3. AKA encounter form or charge slip. A copy of the encounter form is given to the patient after seeing the provider. Identifies the procedures performed - diagnosis - charges and when to return.

4. AKA pegboard system

5. Check endorsed by its payee to another party who becomes the holder in due course. Most places do not accept third party checks.

6. Daily recording of accounts or transactions of a business.

7. A record of all transactions for that day (used on pegbord system)

8. The % of outstanding debt collected. (Gross income/The amount that could have been collected) The goal is 90% (SHOWS THE PERCENTAGE OF OUTSTANDING DEBT COLLECTED)

9. Reduces the balance owed

10. Accounts payable

11. An accounts receivable formula that measures the speed in which outstanding accounts are paid. (outstanding accounts receivable/average monthly gross income)

12. Lists items and charges for goods ans services already received

13. A formula that measures the SPEED by which outstanding accounts are paid

14. A decline in the value of assets. A method of allocating the cost of a tangible asset over its useful life.

15. Summary of all deductions - gross pay - net pay etc for the previous tax year. Must be sent out to employees no later than Jan 31 of each year.

16. Determines exemptions or withholding allowances

17. Accounts receivable.

18. Debts - financial obligations for which one is responsible

19. Patient account record. Record of all transactions on a patients account.

20. Cost that does not vary in total as the number of patients vary

21. AKA write it once system. Is the most commonly used manual medical accounts receivable system

22. Purchase order

23. Column. Increases or decreases to patient accounts not due to charges incurred or payments received.

24. Take home pay after all deductions

25. Superbill - patient ledger and day sheet

⚡ Recently practiced quizzes in this topic
Live quiz activity
FBLA Business Calculations DSST Introduction to Business Exam Practice Test 1 Financial Statements Small Business Management FBLA Insurance and Risk Management Logistics Vocab Business Foundations Review Business Analyst DSST Introduction to Business Exam Practice Test 3 DSST Introduction to Business Exam Practice Test 2
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.