Question 1

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-insurance

Accepted Answer

A)  fixed costs
B)  variable costsC) A) and B)
D) undefined

Question 2

Which of the following is an unwritten promise to pay for credit purchases or services?

Accepted Answer

A)   Debt collection
B)   Cost ratio
C)   Accounts payable
D)   Cost accountingE) None of the above
F) A) and B)

Question 3

Which of the following applies to the financial report that shows cumulative monthly profit and loss?

Accepted Answer

A)   Aging analysis
B)   Balance sheet
C)   Cost ratio
D)   Income statementE) A) and D)
F) A) and C) D

Question 4

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-property taxes

Accepted Answer

A)  fixed costs
B)  variable costsC) A) and B)
D) undefined

Question 5

In medical practices,embezzlement can be decreased by doing all of the following EXCEPT?

Accepted Answer

A)   Conduct regular and irregular audits.
B)   Allow employees to use a signature stamp.
C)   Seek honest personnel.
D)   Separate duties among several employees.E) B) and C)
F) C) and D)

Question 6

Which of the following best describes the accounting system that provides information primarily for entities external to the organization?

Accepted Answer

A)   Cost
B)   Financial
C)   Managerial
D)   DisbursementE) None of the above
F) All of the above

Question 7

Which of the following accounting systems utilizes "no carbon required" forms that are layered?

Accepted Answer

A)   Single entry
B)   Double entry
C)   Pegboard
D)   ComputerizedE) A) and C)
F) B) and D)

Question 8

Which of the following bookkeeping and accounting systems includes charge slips or encounter forms?

Accepted Answer

A)   Triple-entry system
B)   Double-entry system
C)   Single-entry system
D)   Pegboard systemE) B) and C)
F) All of the above D

Question 9

If your facility chooses not to purchase accounting software or to use computers,an alternative would be to use what?

Accepted Answer

A)   Managed care
B)   Service bureau
C)   Personal accountant
D)   Financial consultantE) A) and C)
F) B) and C)

Question 10

What is NOT considered part of the itemized balance sheet?

Accepted Answer

A)   Liabilities
B)   Assets
C)   Cost ratio
D)   Owner's equityE) B) and D)
F) None of the above

Question 11

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-clinical supplies

Accepted Answer

A)  fixed costs
B)  variable costsC) A) and B)
D) undefined

Question 12

Which of the following terms applies to the accounting system in which outstanding accounts such as office expenses and services are paid for?

Accepted Answer

A)   Collections
B)   Cost
C)   Accounts receivable
D)   Accounts payableE) All of the above
F) A) and B)

Question 13

What is created by totaling debit balances and credit balances to confirm that total debits equal total credits?

Accepted Answer

A)   Trial balance
B)   Balance sheet
C)   Accounts payable
D)   Ledger statementE) A) and B)
F) None of the above

Question 14

Which of the following is the recommended turnaround time of an efficient billing and collections policy?

Accepted Answer

A)   1 month or less
B)   2 months or less
C)   1 week
D)   6 monthsE) B) and C)
F) C) and D)

Question 15

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-collection costs

Accepted Answer

A)  fixed costs
B)  variable costsC) A) and B)
D) undefined

Question 16

Which bond covers all employees and is most beneficial?

Accepted Answer

A)   Position-scheduled bond
B)   Blanket-position bond
C)   Family-practice bond
D)   Personal bondE) C) and D)
F) A) and C)

Question 17

What is the common name for an employee withholding allowance certificate?

Accepted Answer

A)   W-2
B)   W-4
C)   Pay stub
D)   W-AE) A) and B)
F) B) and C)

Question 18

Which of the following best describes a type of accounting that helps to determine the finances necessary for the ambulatory care setting?

Accepted Answer

A)   Cost
B)   Financial
C)   Managerial
D)   DisbursementE) A) and C)
F) A) and B)

Question 19

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-employees' salaries

Accepted Answer

A)  fixed costs
B)  variable costsC) A) and B)
D) undefined B

Question 20

Which of the following ratios is calculated by dividing total expenses by the total number of procedures for 1 month?

Accepted Answer

A)   Collection
B)   Cost
C)   Accounts receivable
D)   Accounts payableE) A) and C)
F) B) and C)

Exam 21: Accounting Practices

MATCHING Indicate whether the item applies to fixed costs or variable costs. -insurance

Correct AnswerverifiedShow Answer

Which of the following is an unwritten promise to pay for credit purchases or services?

Correct AnswerverifiedShow Answer

Which of the following applies to the financial report that shows cumulative monthly profit and loss?

Correct AnswerverifiedD

MATCHING Indicate whether the item applies to fixed costs or variable costs. -property taxes

Correct AnswerverifiedShow Answer

In medical practices,embezzlement can be decreased by doing all of the following EXCEPT?

Correct AnswerverifiedShow Answer

Which of the following best describes the accounting system that provides information primarily for entities external to the organization?

Correct AnswerverifiedShow Answer

Which of the following accounting systems utilizes "no carbon required" forms that are layered?

Correct AnswerverifiedShow Answer

Which of the following bookkeeping and accounting systems includes charge slips or encounter forms?

Correct AnswerverifiedD

If your facility chooses not to purchase accounting software or to use computers,an alternative would be to use what?

Correct AnswerverifiedShow Answer

What is NOT considered part of the itemized balance sheet?

Correct AnswerverifiedShow Answer

MATCHING Indicate whether the item applies to fixed costs or variable costs. -clinical supplies

Correct AnswerverifiedShow Answer

Which of the following terms applies to the accounting system in which outstanding accounts such as office expenses and services are paid for?

Correct AnswerverifiedShow Answer

What is created by totaling debit balances and credit balances to confirm that total debits equal total credits?

Correct AnswerverifiedShow Answer

Which of the following is the recommended turnaround time of an efficient billing and collections policy?

Correct AnswerverifiedShow Answer

MATCHING Indicate whether the item applies to fixed costs or variable costs. -collection costs

Correct AnswerverifiedShow Answer

Which bond covers all employees and is most beneficial?

Correct AnswerverifiedShow Answer

What is the common name for an employee withholding allowance certificate?

Correct AnswerverifiedShow Answer

Which of the following best describes a type of accounting that helps to determine the finances necessary for the ambulatory care setting?

Correct AnswerverifiedShow Answer

MATCHING Indicate whether the item applies to fixed costs or variable costs. -employees' salaries

Correct AnswerverifiedB

Which of the following ratios is calculated by dividing total expenses by the total number of procedures for 1 month?

Correct AnswerverifiedShow Answer

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D

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D

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B

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