Exam 24: Financial and Practice Management

The Transmittal of Income and Tax Statement is IRS form __________.

Receipts are usually deposited in a(n) __________ account.

A statement of income and expense is a type of accounting report.

The petty cash fund is a(n) __________ fund.

The chronologic record of the medical practice is the ______ journal.

Minor unpredictable expenses should be paid from the:

A statement is a request for an invoice.

Single-entry bookkeeping is expensive to use.

Which statement best describes the relationship between bookkeeping and accounting?

An employee may owe taxes if too __________ is taken from his or her check each pay period.

A packing slip describes the contents of a package.

Total income is the same as gross income.

Disbursements in a medical office might include:

State unemployment taxes are always imposed on the employee.

A request for payment is called a(n) __________.

Some medical offices require the person who has been charged with handling financial duties to be bonded.

Some physicians __________ equipment instead of purchasing it.

The Employee's Withholding Allowance Certificate is Form W-4.

FICA stands for the Federal Insurance __________ Act.

Expenses in the medical office should be monitored on a monthly basis to remain within the budget.