Exam 21: Financial Management Key

The portion of a company's assets that are paid for is the company's ________.

The process of communicating the income and expenses of a business and its financial health is known as ________.

Charise was seen today for an ongoing infection. When she comes to the counter to check out, you tell her that the charge for today is $54. Charise takes her $260 paycheck out of her pocket and endorses it "Pay to the order of BWW Medical Associates," signs it "Charise Williams," and hands it to you. What should you do?

Which type of checks are preprinted in $10, $20, $50, and $100 denominations?

Most practices may use checks from a standard checkbook or ________ checks, which often come in a three-ring binder and provide a stub for recordkeeping.

If you receive payment from a patient by mail after the office visit, you should record it ____.

Which type of check is purchased from a bank, written on the bank's own checking account, and signed by a bank official?

A(n) ________ gives a person the legal right to handle financial matters for another person who is unable to do so.

The ________ appears as a fraction on the upper edge of all printed checks and identifies the geographic area and specific bank on which the check is drawn.

Any payment the physician's office makes for goods or services is called ____.

A(n) ________ check states that it is void after a certain amount of time and is sometimes used for payroll.

An endorsement that consists simply of the payee's signature is a ____.

The process of recording services provided, the fees charged, and payments received in a daily log is known as ____.

A type of check that states it is void after a certain time limit is a ____ check.

A(n) ________ check is a payer's check written and signed by the payer; the bank withdraws the money from the payer's account and guarantees that the check will be paid when submitted.

An overpayment to a physician results in a negative number, or ________ balance, on the patient's account.

The part of the accounting process known as ________ is the systematic recording of business transactions.