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