Question 1

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 statement 
A)  Aging analysis 
B)  Balance sheet 
C)  Cost ratio 
D)  Income statement D

Question 2

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

-employees' salaries

Accepted Answer

A) fixed costs 
B) variable costs 
A) fixed costs 
B) variable costs B

Question 3

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 system 
A)  Triple-entry system 
B)  Double-entry system 
C)  Single-entry system 
D)  Pegboard system D

Question 4

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

-property taxes

Accepted Answer

A) fixed costs 
B) variable costs 
A) fixed costs 
B) variable costs

Question 5

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 payable 
A)  Collection 
B)  Cost 
C)  Accounts receivable 
D)  Accounts payable

Question 6

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

-clinical supplies

Accepted Answer

A) fixed costs 
B) variable costs 
A) fixed costs 
B) variable costs

Question 7

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)  Disbursement 
A)  Cost 
B)  Financial 
C)  Managerial 
D)  Disbursement

Question 8

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)  Disbursement 
A)  Cost 
B)  Financial 
C)  Managerial 
D)  Disbursement

Question 9

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

Accepted Answer

A)  W-2 
B)  W-4 
C)  Pay stub 
D)  W-A 
A)  W-2 
B)  W-4 
C)  Pay stub 
D)  W-A

Question 10

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

Question 11

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

Question 12

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

-insurance

Accepted Answer

A) fixed costs 
B) variable costs 
A) fixed costs 
B) variable costs

Question 13

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

-collection costs

Accepted Answer

A) fixed costs 
B) variable costs 
A) fixed costs 
B) variable costs

Question 14

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 accounting 
A)  Debt collection 
B)  Cost ratio 
C)  Accounts payable 
D)  Cost accounting

Question 15

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 consultant 
A)  Managed care 
B)  Service bureau 
C)  Personal accountant 
D)  Financial consultant

Question 16

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 statement 
A)  Trial balance 
B)  Balance sheet 
C)  Accounts payable 
D)  Ledger statement

Question 17

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 payable 
A)  Collections 
B)  Cost 
C)  Accounts receivable 
D)  Accounts payable

Question 18

What is NOT considered part of the itemized balance sheet?

Accepted Answer

A)  Liabilities 
B)  Assets 
C)  Cost ratio 
D)  Owner's equity 
A)  Liabilities 
B)  Assets 
C)  Cost ratio 
D)  Owner's equity

Question 19

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)  Computerized 
A)  Single entry 
B)  Double entry 
C)  Pegboard 
D)  Computerized

Question 20

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

Exam 21: Accounting Practices

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

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

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

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

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

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

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

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

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

Which bond covers all employees and is most beneficial?

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

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

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

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

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

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

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

What is NOT considered part of the itemized balance sheet?

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

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

The Medical Assisting Profession

Health Care Settings and the Health Care Team

History of Medicine

Coping Skills for the Medical Assistant

Therapeutic Communication Skills

The Therapeutic Approach to the Patient With Life-Threatening Illness

Legal Considerations

Ethical Considerations

Emergency Procedures and First AID

Creating the Facility Environment

Computers in the Ambulatory Care Setting

Telecommunications

Patient Scheduling

Medical Records Management

Written Communications

Medical Documents

Medical Insurance

Medical Insurance Coding

Daily Financial Practices

Billing and Collections

The Medical Assistant As Clinic Manager

The Medical Assistant As Human Resources Manager

Preparing for Medical Assisting Credentials

Employment Strategies

Filters