bussiness

Which of the following attitudes is most acceptable for an assistant to have when discussing finances with a patient?

Respectful and understanding

Which kind of endorsement is most common in a business setting?

Restrictive endorsement

You borrow your mom's car and accidentally put a dent in the door. What do you do?

Tell her you did it

Which of the following blank spaces on a check does NOT have to be filled in to be processed by the bank?

The for/memo line

Who is responsible for recording disbursements?

The medical office assistant

Who decides when and to whom professional courtesy is extended?

The physician

What is the purpose of the HIPAA Privacy Rule?

To protect the privacy of patient information

Which of the following best describes an accounts payable ledger?

A book of all office debts that have not been paid

Which of the following definitions best describes a write-off

A cancellation of a fee

Which of the following best describes the term "professional courtesy"?

A fee discount for health care workers

What is a UCR fee?

A fee for the amount that physicians in the same geographic area most commonly charge for the same service

What is a fee schedule?

A list of specified fees a physician charges for services

Which of the following definitions best describes a bank statement?

A monthly summary of a bank account

Which of the following best describes a superbill?

A patient invoice listing services performed in one visit

What is the name of a patient bill that records services and charges for a specific time period?

An invoice

Which of the following definitions best describes a deposit slip?

An itemized memo of funds to be posted to a bank account

Which of the following best defines the term "disbursement"?

An outgoing amount of money from the office

Regulatory laws:

Are issued by agencies of the government

When should daysheets be updated?

At the end of each day

Ideally, when should patient payments be received?

At the time of service

Federal legislative laws:

Be approved by Congress

The U. S. Supreme Court hears cases that involve:

Constitutional cases

An agreement between two parties that creates an obligation is a(n)

Contract

Offer, acceptance and consideration are all parts of a

Contract

Original works are protected by

Copyrights

A business organization that has members is a(n)

LLC

A business organization that has some liability protection for the owner is a(n)

LLC

In order for a contract to be enforceable it must have

Legal Purpose

you have recently joined a small team at work. Although you get along with the boss, your teammates do not. They are constantly trying to undermine and plot against the boss. What should you do?

Try to convince them that their energy is better spent doing a good job.

Larry's car had a tune-up, and the mechanic told him it's going to need a new timing belt at the next scheduled maintenance. Larry decides to sell the car, and tells the buyer that the maintenance is up to date. This is ____________.

Unethical because Larry is hiding something important

As you walk out of a store with a friend, she gives you some jewelry to hold. Just then, a security guard stops your friend and questions her about missing jewelry from the store. You know the guard is looking for the jewelry you are holding, but you say nothing because she is your friend. How are you possibly acting?

Unethically and illegally

What should be done if a mistake is made while filling out a check?

Void the check and file it with canceled checks.

Litigation is:

a process that will end a legal issue

When someone is authorized to act on behalf of another it governed by _______ law

agency

Which of the following skills will a medical office assistant need to perform accounting tasks?

all of the above

While a law is still in the legislature, it is called a:

bill

The U. S. Supreme Court hears cases that involve ____________.

constitional cases

If an office uses a computerized bookkeeping system, understanding manual bookkeeping is unnecessary.

false

If an office uses automatic withdrawal to pay bills, those payment amounts do NOT need to be posted on any office ledgers.

false

If you benefit from an action you've taken, that means it must have been unethical.

false

It is okay to threaten a patient who has not paid with legal action, even if this is an action the office is not currently planning to take.

false

It's only unethical if I get caught.

false

Paying the office's utility bill is an example of income.

false

After work John is planning to do some of his job tasks at home to get back on schedule. But he needs some office supplies at home. To save time and a trip to the store, he decides to take the supplies from work. Is John's action ____________.

illegal

An oral contract is _______

legal

In order for a contract to be enforceable it must have

legal purpose

jane plans on making flyers for the church bake sale. but she's running low on printer paper so she takes home paper from work. it's for a good cause but is it ethical?

no

a schoolmate posts a video of a student getting a slushy thrown at him. then asks you to share it. you say

no i wouldn't want someone to do that to me

In an office, which one of the following items is "fair game" - meaning there's no lapse in ethics if you take them home?

none of the above

jack sees another kid at school being bullied. he tells a teacher. jack knows he did the ethical thing and may have helped the kid. this makes jack

none of the above

Criminal cases involve:

offenses against the state

How often should patients receive a billing statement?

once per month

Local laws are called:

ordinances

A business organization where the owners are personally responsible for the business debts a(n)

partnership

A judge makes a ruling on a lawsuit. Ten years later a similar lawsuit comes to court, what kind of law applies?

precendent

What should be stapled to every petty cash voucher before it is filed?

receipt

Laws issued by an agency are ____________ laws.

regulatory

A cashier gives you the wrong change - in your favor! The ethical choice is to:

return the extra money

State trial courts have jurisdiction over:

state law

The highest court in the United States is the U. S. ___________ Court

supreme

_______ law deals with situations where a person's behavior has caused someone else to suffer a loss or harm.

tort

_______ protect the names and identifying marks of products and companies.

trademarks

A billing statement is an itemization, or invoice, of the balance the patient owes for specific services.

true

A check stub, or register, should be filled out every time a check is written.

true

_______ of an offer is agreement to the terms of the offer.

Acceptance

What is the term for money owed by a company that has not yet been paid?

Accounts payable

In which of the following ledgers would an assistant look to find information on all the debts owed by the medical office?

Accounts payable ledger

Which kind of endorsement is the most risky?

Blank endorsement

Which of the following type(s) of check is guaranteed not to bounce?

Both a certified check and a money order

Which of the following is the correct equation for determining equity?

Assets - Liabilities = Equity

You're on a team where people are constantly pointing out what's wrong with the company. This is most likely cause which outcome?

Morale will be low, as everyone focuses on the negative

Which of the following methods of payment is least likely to be accepted at any medical office?

Third-party check

In which of the following ledgers must an outstanding patient balance be recorded?

Both the patient ledger and the accounts receivable ledger

A classmate is having trouble finishing a report. He'll pay you to finish it for him. What is the ethical thing to do?

Decline to do it, explaining that you don't have the time.

Your co-worker is having trouble finishing a report. He'll pay you double your normal hourly rate to do it and not tell anyone. What do you do?

Decline, explaining that you have your own report to write.

Which manual bookkeeping system has a built-in way to check for errors?

Double-entry system

Which of these is the most appropriate way to make corrections in a manual bookkeeping system?

Draw one line through the mistake and enter the correction above.

Why is the pegboard system also called the "write-it-once" method?

Entries are posted to several records at once.

When should a receipt be issued to a patient?

Every time the patient makes a payment in the office

You'll never have negative consequences if you make an ethical choice, such as pointing out a mistaken school grade or confessing you broke something.

False - even if you make the right choices, you still may suffer from your actions.

A cashier gives you more change then she should have. The ethical choice is to ____________.

Return the extra money

Who should be in charge of the petty cash fund?

One authorized person

statutory laws

Have passed through the legislature

State appellate court hear appeals of

State trial court decisions

A precedent law:

Is determined by a court case

Which of the following is the least confrontational way to approach a patient about an unpaid bill?

A letter

Which of the following definitions best describes the term "guarantor"?

A person responsible for paying a patient's bill

Which of the following definitions best describes an aging report?

A record of all unpaid patient accounts, organized by date of service or date of first bill

Which of the following best describes a purchase order?

A standardized form to request an order from a vendor

What is an event that affects the financial position of a company and can be reliably recorded?

Accounting transaction

What is the term for money owed to a company or office that has not yet been received?

Accounts receivable

What is the first thing an assistant should do after receiving a patient overpayment?

Call to inform the patient.

In which of the following ledgers would an assistant look to find the most current bank balance?

Check ledger

A corporation that has less that 30 shareholders is

Close

If parties in a contract are not _______, the contract can be canceled.

Competent

Larry's car had a tune-up, and the mechanic told him it's going to need a new timing belt at the next scheduled maintenance. Larry decides to sell the car, and tells the buyer that the maintenance is up to date. This is:

Completely unethical, and Larry knows it

If you make an ethical choice, such as pointing out the mistake in the grade a teacher gave you, or confessing that you broke something, you'll never have negative consequences.

False - sometimes you just have to do the right thing, even if it "costs" you.

In which of the following situations would the Truth in Lending Act apply?

If a patient sets up a payment plan with five installments

Which of the following situations would make a check invalid?

If the check is not signed

An _______ is one in which some of the terms are not expressed in words.

Implied contract

What is the first step an office assistant should take after receiving an NSF check?

Inform the check-writer that the check has been returned.

What purpose does the Truth in Lending Act serve?

It requires physicians to disclose interest charges if any are charged.

Laws come from many places, including:

Legislatures

The exclusive right granted to an inventor to manufacture, use, or sell an invention is a

Patent

In which of the following ledgers would an assistant look to find a specific patient's current outstanding balance?

Patient ledger

Which of the following terms refers to the person who writes the check?

Payor

If a physician treats a fellow health care worker and does not collect the remaining fee after that worker's insurance contribution is received, this is what kind of adjustment?

Professional courtesy

_______ law is the area of law that guides real property, personal property, and intellectual property.

Property

Which of the following is the best option for dealing with long-term delinquent accounts?

Send the account to a third-party collection agency.

Which of the following is NOT a protective measure for electronic medical records?

Sending a patient's confidential information via email.

Which of the following would be considered an accounting task?

Sending patient bills

A business run by one person is a(n)

Sole proprietorship

Which of the following endorsements specifies the person to whom the endorser is making the check payable?

Special endorsement

In the medical office, who is responsible for helping patients understand their invoice?

The medical office assistant

What does it mean to extend credit to a patient?

The patient can pay for service in installments

Where should all collections attempts and their results be recorded?

The patient's ledger

Which of these best describes a check endorsement?

The payee's signature on the back of the check

When should a patient be given an estimate of how much the fee for service might be?

When the appointment is set

Why is it important to keep an up-to-date inventory of all administrative and clinical supplies in the office?

To avoid making unnecessary purchases or running out of important supplies

Why is it necessary to reconcile the bank statement with the office check ledger?

To ensure the accuracy of both documents To ensure the accuracy of both documents To find out which deposits have been processed

Which of the following expenses might the petty cash fund be used for?

To purchase office Halloween decorations

Why might an office divide patient billing into several cycles per month?

To stabilize the assistant's workload

Which of the following pieces of information on a bank statement would be found in the Activity Synopsis section?

Total amount of money deposited for the month

Accounts receivable are considered ____.

assets

what should be written in the Pay to the Order Of section of a check to establish a petty cash fund?

cash

Courts can enforce

contracts

Ideally, how often should money received by the office be deposited?

daily

In golf, the players actually call penalties on themselves, even if no one's around to see what happened. They are exercising ___________ behavior.

ethical

If a patient plans to use a credit or debit card as payment, the physician is allowed to charge a higher fee for the patient's service.

false

If you feel good about something you've done, it must have been an ethical choice.

false

If you work for yourself, you never have to worry about business ethics.

false

Payments received by mail do not have to be posted to the patient ledger.

false

The ending balance on the bank statement will always be the same as the current balance in the check ledger.

false

When a patient makes a payment to a collection agency, the entire amount of that payment will be sent to the medical office.

false

When stamped on a check, what does NSF stand for?

non-sufficient funds

Intellectual Property can be protected by

patents

Medical office assistants may be required to perform accounting tasks.

true

you witness a group of kid you know damaging school property. The principal asks for any anonymous tips on who might have damaged the property. You choose to stay out of it and don't say anything. How are you acting?

unethical