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Bank Services and Procedures
Bank Services and Procedures II
Management of Practice Finances
Management of Practice Finances II
Miscellaneous
100
What is the most common reason that the ending balances in the checkbook and bank statement usually do not match?
What is transactions are made between the preparation and receipt of the statement.
100
What is the first thing that the medical assistant should do when a check is returned unpaid by the bank?
What is contact the person who wrote the check
100
Complete and correct financial records are necessary for:
What is prompt billing and collection procedures, professional financial planning, and accurate reporting of income
100
Which accounting system has the least chance of errors because of the small amount of posting required?
What is a pegboard
100
When the end of month accounts receivable figures agree with the figures arrived at by adding all the account card balances, the accounts are said to be:
What is in balance
200
Which type of bank account would be best for maintaining funds that are used for paying seasonal expenses, such as insurance premiums?
What is an interest-bearing checking account that requires a high minimum balance
200
Which type of bonding covers all employees in a facility?
What is blanket position bonding
200
A system of recording, classifying, and summarizing financial transactions is called:
What is accounting
200
For every disbursement from the petty cash fund, what should be completed?
What is a voucher
200
The properties owned by a business are called:
What is assets
300
If a mistake when writing a check, the best practice is to:
What is write “Void” on it and file it with the canceled checks.
300
The part of the ABA number following the dash on top in the fraction designates:
What is the number issued to each bank for identification purposes
300
A trial balance should be done:
What is once per month
300
To determine that the books for the practice are in balance, the medical assistant can create a(n):
What is trial balance.
300
Which act protects the employee against unsafe workplaces?
What is the Occupational Safety and Health Act (OSHA)
400
Why is accepting third-party checks from patients usually poor policy?
What is the reliability of the maker cannot be verified.
400
The "write it once system" is referred to as:
What is pegboard
400
The cash basis system of accounting used by most physicians means that:
What is charges are recorded as income at the time they are received
400
The Transmittal of Income and Tax Statement must be transmitted annually using form:
What is a W-3
400
Patient instruction sheets include:
What is preparation for x-ray films and tests, methods for collecting a urine specimen, and techniques for taking medications.
500
When should checks from patients and other sources be deposited?
What is as soon as possible after they are received
500
What can be evaluated by looking at the job application?
What is handwriting, the ability to follow instructions, and the ability to provide complete information
500
The purpose of the disbursement journal is to keep a record of the amount:
What is paid out for various expenses
500
What document lists the order in which business is to be conducted during a meeting?
What is an agenda
500
The employees of the office should be involved in promoting the practice because:
What is the physician has services to offer the community, a full schedule is more financially rewarding for the physician, and the employees should see the practice as a business.