Question 1

The ____ ratio is also known as the adjusted collection ratio.

Accepted Answer

A)  gross collection 
B)  net collection 
C)  write-off 
D)  write-up 
A)  gross collection 
B)  net collection 
C)  write-off 
D)  write-up B

Question 2

Which of the following is not included in the company details on an invoice?

Accepted Answer

A)  invoice number 
B)  company address 
C)  company name 
D)  company email address 
A)  invoice number 
B)  company address 
C)  company name 
D)  company email address A

Question 3

The A/R ratio has a goal of:

Accepted Answer

A)  2 months or more 
B)  2 months or less 
C)  1 month or more 
D)  1 month or less 
A)  2 months or more 
B)  2 months or less 
C)  1 month or more 
D)  1 month or less B

Question 4

Match each term with its definition.
-Debts or accounts payable owed by the business

Accepted Answer

A) accounting formula 
B) accounts receivable ratio formula 
C) gross collection ratio formula 
D) net collection ratio formula 
E) cost ratio formula
F)assets
G)write-offs
H)liabilities
I)accounts receivable
J)income statement 
A) accounting formula 
B) accounts receivable ratio formula 
C) gross collection ratio formula 
D) net collection ratio formula 
E) cost ratio formula
F)assets
G)write-offs
H)liabilities
I)accounts receivable
J)income statement

Question 5

A medical assistant working in accounts payable should:

Accepted Answer

A)  have an accounting degree 
B)  pay bills on time only when it is convenient to do so 
C)  be highly organized 
D)  have a great deal of medical training 
A)  have an accounting degree 
B)  pay bills on time only when it is convenient to do so 
C)  be highly organized 
D)  have a great deal of medical training

Question 6

A(n) _____ is also known as a statement of financial position.

Accepted Answer

A)  liabilities statement 
B)  balance sheet 
C)  equity form 
D)  income statement 
A)  liabilities statement 
B)  balance sheet 
C)  equity form 
D)  income statement

Question 7

Cost-benefit analysis is not:

Accepted Answer

A)  part of good budgeting and accounting practices 
B)  an advanced, complex type of cost analysis 
C)  used to help determine the true cost of providing services 
D)  commonly determined with the help of accounting software 
A)  part of good budgeting and accounting practices 
B)  an advanced, complex type of cost analysis 
C)  used to help determine the true cost of providing services 
D)  commonly determined with the help of accounting software

Question 8

Match each term with its definition.
-File format used when mailing invoices to prevent alteration of the invoice

Accepted Answer

A) accounts payable 
B) expenditure 
C) invoice 
D) PDF 
E) fees
F)petty cash
G)accounting
H)bookkeeping
I)operating information
J)managerial accounting information 
A) accounts payable 
B) expenditure 
C) invoice 
D) PDF 
E) fees
F)petty cash
G)accounting
H)bookkeeping
I)operating information
J)managerial accounting information

Question 9

Which of the following is the best gross collection ratio?

Accepted Answer

A)  0.0 
B)  0.5 
C)  0.75 
D)  1.0 
A)  0.0 
B)  0.5 
C)  0.75 
D)  1.0

Question 10

If your receipts for 4 months add up to $200,000, what is your average monthly gross production?

Accepted Answer

A)  $800,000 
B)  $160,000 
C)  $50,000 
D)  $200,000 
A)  $800,000 
B)  $160,000 
C)  $50,000 
D)  $200,000

Question 11

Match each term with its definition.
-Total amounts owed by a practice to suppliers and other service providers for regular business operating expenses

Accepted Answer

A) accounts payable 
B) expenditure 
C) invoice 
D) PDF 
E) fees
F)petty cash
G)accounting
H)bookkeeping
I)operating information
J)managerial accounting information 
A) accounts payable 
B) expenditure 
C) invoice 
D) PDF 
E) fees
F)petty cash
G)accounting
H)bookkeeping
I)operating information
J)managerial accounting information

Question 12

Match each term with its definition.
-Charges deemed uncollectible by any business

Accepted Answer

A) accounting formula 
B) accounts receivable ratio formula 
C) gross collection ratio formula 
D) net collection ratio formula 
E) cost ratio formula
F)assets
G)write-offs
H)liabilities
I)accounts receivable
J)income statement 
A) accounting formula 
B) accounts receivable ratio formula 
C) gross collection ratio formula 
D) net collection ratio formula 
E) cost ratio formula
F)assets
G)write-offs
H)liabilities
I)accounts receivable
J)income statement

Question 13

When a statement is received from a supplier, you should:

Accepted Answer

A)  verify that everything on the invoice was received before making payment 
B)  promptly mail a check for the full amount due if funds are available 
C)  refrain from sending payment until a second notice is sent 
D)  mail a check for no more than 50% of the amount due if funds are available 
A)  verify that everything on the invoice was received before making payment 
B)  promptly mail a check for the full amount due if funds are available 
C)  refrain from sending payment until a second notice is sent 
D)  mail a check for no more than 50% of the amount due if funds are available

Question 14

Match each term with its definition.
-Total Expenses ÷ Total Number of Procedures for One Month

Accepted Answer

A) accounting formula 
B) accounts receivable ratio formula 
C) gross collection ratio formula 
D) net collection ratio formula 
E) cost ratio formula
F)assets
G)write-offs
H)liabilities
I)accounts receivable
J)income statement 
A) accounting formula 
B) accounts receivable ratio formula 
C) gross collection ratio formula 
D) net collection ratio formula 
E) cost ratio formula
F)assets
G)write-offs
H)liabilities
I)accounts receivable
J)income statement

Question 15

The _____ formula demonstrates a cost of a specific procedure or service.

Accepted Answer

A)  cost-benefit analysis 
B)  gross collection ratio 
C)  cost ratio 
D)  net collection ratio 
A)  cost-benefit analysis 
B)  gross collection ratio 
C)  cost ratio 
D)  net collection ratio

Question 16

Match each term with its definition.
-Document that includes itemization of goods and purchases or services provided together with the charges and terms of the agreement

Accepted Answer

A) accounts payable 
B) expenditure 
C) invoice 
D) PDF 
E) fees
F)petty cash
G)accounting
H)bookkeeping
I)operating information
J)managerial accounting information 
A) accounts payable 
B) expenditure 
C) invoice 
D) PDF 
E) fees
F)petty cash
G)accounting
H)bookkeeping
I)operating information
J)managerial accounting information

Question 17

The study and analysis of financial data as it applies to operational issues within a company is called _____ accounting.

Accepted Answer

A)  operational 
B)  managerial 
C)  supplication 
D)  economic 
A)  operational 
B)  managerial 
C)  supplication 
D)  economic

Question 18

Match each term with its definition.
-Assets - Liabilities = Net Worth

Accepted Answer

A) accounting formula 
B) accounts receivable ratio formula 
C) gross collection ratio formula 
D) net collection ratio formula 
E) cost ratio formula
F)assets
G)write-offs
H)liabilities
I)accounts receivable
J)income statement 
A) accounting formula 
B) accounts receivable ratio formula 
C) gross collection ratio formula 
D) net collection ratio formula 
E) cost ratio formula
F)assets
G)write-offs
H)liabilities
I)accounts receivable
J)income statement

Question 19

It is typically the responsibility of the _____ to produce the values used in cost-benefit analysis.

Accepted Answer

A)  accountant 
B)  bookkeeper 
C)  medical assistant 
D)  office manager 
A)  accountant 
B)  bookkeeper 
C)  medical assistant 
D)  office manager

Question 20

Match each term with its definition.
-Description of the services provided and the total amount due printed on an invoice

Accepted Answer

A) accounts payable 
B) expenditure 
C) invoice 
D) PDF 
E) fees
F)petty cash
G)accounting
H)bookkeeping
I)operating information
J)managerial accounting information 
A) accounts payable 
B) expenditure 
C) invoice 
D) PDF 
E) fees
F)petty cash
G)accounting
H)bookkeeping
I)operating information
J)managerial accounting information

Exam 20: The Endocrine System

The ____ ratio is also known as the adjusted collection ratio.

Which of the following is not included in the company details on an invoice?

The A/R ratio has a goal of:

Match each term with its definition. -Debts or accounts payable owed by the business

A medical assistant working in accounts payable should:

A(n) _____ is also known as a statement of financial position.

Cost-benefit analysis is not:

Match each term with its definition. -File format used when mailing invoices to prevent alteration of the invoice

Which of the following is the best gross collection ratio?

If your receipts for 4 months add up to $200,000, what is your average monthly gross production?

Match each term with its definition. -Total amounts owed by a practice to suppliers and other service providers for regular business operating expenses

Match each term with its definition. -Charges deemed uncollectible by any business

When a statement is received from a supplier, you should:

Match each term with its definition. -Total Expenses ÷ Total Number of Procedures for One Month

The _____ formula demonstrates a cost of a specific procedure or service.

Match each term with its definition. -Document that includes itemization of goods and purchases or services provided together with the charges and terms of the agreement

The study and analysis of financial data as it applies to operational issues within a company is called _____ accounting.

Match each term with its definition. -Assets - Liabilities = Net Worth

It is typically the responsibility of the _____ to produce the values used in cost-benefit analysis.

Match each term with its definition. -Description of the services provided and the total amount due printed on an invoice

The Medical Assistant

The Health Care Team and the Medical Environment, Past and Present

Legal Issues

Ethical Issues

Verbal and Nonverbal Communications

Applying Communication Skills

Introduction to Medical Terminology

Understanding and Building Medical Terms of Body Systems

Anatomic Descriptors and Fundamental Body Structure

The Nervous System

The Senses

The Integumentary System

The Skeletal System

The Muscular System

The Respiratory System

The Circulatory System

The Immune System

The Digestive System

The Urinary System

The Reproductive System

Telephone Communications

Written Communications

Operating Computers and Office Equipment

Scheduling Appointments and Receiving Patients

The Medical Record, Documentation, and Filing

Health Insurance

Procedural and Diagnostic Coding

Patient Accounts

Preparing Insurance Claims and Posting Insurance Payments

Patient Billing, Posting Patient Payments, and Collecting Fees

Banking Procedures

Accounts Payable and Accounting Procedures

Infection Control and Medical Asepsis

The Medical History and Patient Screening

Body Measurements and Vital Signs

Preparing for Examinations

The Physical Exam

Specialty Exams and Other Procedures

Obgyn Examinations

Pediatric Examinations

The Physicians Office Laboratory

Specimen Collection and Processing

Blood Specimen Collection

Diagnostic Testing

Cardiology Procedures

Radiology Procedures

Preparing for Surgery

Assisting With Minor Surgery

Pharmacology Fundamentals

Measurement Systems, Basic Mathematics, and Dosage Calculations

Administering Oral and Non-Injectable Medications

Administering Injections and Immunizations

Emergencies in the Medical Office and the Community

First Aid for Accidents and Injuries

Rehabilitation

Nutrition, Exercise, and Healthy Living

Practicum and the Job Search

Maintaining the Office Environment

Filters