Chapter 32,33

Restrictive

A ____ endorsement states, "PAY TO THE ORDER OF (name of bank where the check is to be deposited)"

stale

A _____ check is a check presented too long after it was written to be honored by the bank

10

A bank statement obtained through an atm usually contains the last _____ transactions made on an account

Pay to the order of

A check must include some form of which phrase to be negotiable

The signature is missing

A check will be instantly returned by the bank if:

Be highly organized

A medical assistant working in accounts payable should

Electronic

A(n) _____ check is a check paid directly from a checking account via the internet

Balance sheet

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

Practice manager

Accounting systems include all but which of the following

Immediately at the time received

All checks received in the office, whether in person or through the mail, should be protected by endorsement

Pegboard

Although not as a commonplace today, the ______ bookkeeping systems have been used effectively for many years, are relatively expensive, provide hard copies for account balances, and are easy to use .

Write-off

An example of a bad debt ____ would be if a patient owes the office $200 and the patient dies unexpectedly, leaving the remaining balance of $200 uncollectible .

A check is more than the amount in the bank account

An overdraft is when :

Placed out of sight in a secure location

As soon as cash money is received in the office, it should be:

Physicians day sheet , transaction slip, and patient ledger card

Components of the pegboard system include:

An advanced, complex type of cost analysis

Cost benefit analysis is not

Balancing

Daily _____ is an integral function of financial responsibilities in the practice

At different times and days of the week

Deposits should be always be delivered to the bank

VOID

If a mistake is made in writing a check, it is necessary to write "_____" across the check and stub and write a new one

Refuse to honor the check

If a stop payment is placed on a check, the bank will:

$47

If the petty cash run was originally $50, and it has been depleted down to $3, a new petty cash check should be written for:

$50,000

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

Accountant

It is typically the responsibility of the ____ to produce the values used in the cost benefit analysis

Possible loss of funds, potential HIPAA violations, and identity of patients

Precautions must be taken when determining the banking procedures within a practice , which of the following is an example of banking concerns

2 months or less

The A/R ration had a goal of

Routing

The MICR numbers are numbers and symbols and contain the nine digit____number

Net worth

The ____ demonstrates the value of a business

Cost ratio

The ____ formula demonstrates a cost of a specific procedure or service

Net collection

The ____ ratio is also known as the adjusted collection ratio

Numeric amount

The _______is the amount in numbers that the check is written for

Hyphenated

The check routing symbol is commonly ______ on a personal check

Due date

The date by which payment should be made is called

"Cash"

The petty cash fund is established by writing a check payable to "petty cash" or

Mobile

The process of performing banking transactions with a smart phone or personal digital assistant (PDA) is known as ____banking

Reconciling

The process of verifying that the amounts on the bank statement are consistent with the amounts in the check register is known as:

Managerial

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

After world war 2

The use of checks became common

Voucher

This kind of check is often used by insurance companies

Multiply it by 100

To convert the gross collection ratio to a percentage you:

Checks

Travelers checks are listed as___ on a deposit slip

Five and 62/100

What is the correct way to write the numerical amount $5.62 as a written amount?

Verify that everything on the invoice was received before making payment

When a statement is received form a supplier you should

Bring forward the balance from the previous stub or entry

When completing a stub or register, you should:

Restrictive

When depositing checks by mail, they should be endorsed by _____ endorsement only

Alphabetically by the suppliers name

When invoices are held for payment they are typically filed :

Use the bank, total the amount and bring it forward to the correct line

When preparing a deposit slip if there are more checks than can be listed on the front of the slip, you should

Portrait side up, in order from highest to lowest denomination

When sorting currency, bills should be stacked:

Can be written or numerical

When writing a check, the date:

Client details

When your medical office received in an invoice from a supplier, in which section does the name of the medical practice appear?

Personal checking

Which of the following is not a type of savings account

Payroll

Which of the following is not commonly considered an overhead expense

Invoice number

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

1.0

Which of the following is the best gross collection ratio

Written for more than the amount due so the patient can have some cash in hand

You should not accept a check that is

Cryptocurrency

__________is a digital or virtual currency that uses cryptography for security, making it difficult to counterfeit

Electronic check

a check paid directly from a checking account through the internet

Limited check

a check that will be marked 'void' if written over a certain amount

Money order

negotiable instrument often used by individuals who do not have checking accounts or to meet the requirement for purchasing an item or service

Endorser

payee on the check