Exam 24: Financial and Practice Management

FUTA deals with office credit policies.

The FUTA return is IRS form __________.

Computer posting software is a timesaver in the medical office.

All offices use petty cash to make change.

Amounts owed to the physician are accounts __________.

Complete and correct financial records are necessary for:

__________ coverage is one of the physician's major expenses.

Cardinal rules for bookkeeping include:

The IRS form __________ is the Wage and Tax Statement.

The purpose of the trial balance is to disclose any discrepancies between the journal and the ledger.

Employers must file tax returns __________.

The medical assistant would not be responsible for completing the end-of-day summarizing due to the difficulty of the calculations.

A statement of financial condition is also known as a balance sheet.

Which form is used to apply for a Social Security card?

The disbursement journal should show:

To determine that the books for the practice are in balance, the medical assistant can perform a(n):

The properties owned by a business are called:

W-2 forms should be given to all employees before what date each year?

Figure __________ should be kept straight and figures well formed.

All financial records should be complete and accurate.Records must be __________ and completed on a daily basis.