Question 1

Which of the following is NOT a true statement about a computerized accounting system?

Accepted Answer

A)   Can be customized to the individual care setting
B)   Replaces all other systems immediately
C)   Can include the most common procedure and diagnostic codes
D)   Automatically creates day-end summaries

Question 2

Which of the following accounting systems includes a daily journal or log,patients' statements,ledgers,checks,and disbursement records?

Accepted Answer

A)   Single entry
B)   Double entry
C)   Pegboard
D)   Computerized

Question 3

Total monthly receipts are $50,000 and total monthly charges are $60,000 for the same month.Which of the following percents is the collection ratio?

Accepted Answer

A)   95%
B)   87%
C)   83%
D)   120%

Question 4

Which would NOT be considered part of the ledger or journal entry?

Accepted Answer

A)   Date of transaction
B)   Account names involved
C)   Dollar amount of charges
D)   Total receipts

Question 5

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-laboratory procedures

Accepted Answer

A)  fixed costs
B)  variable costs

Question 6

Which of the following is NOT considered a bond to help protect practices from embezzlement?

Accepted Answer

A)   Position-scheduled bond
B)   Blanket-position bond
C)   Family-practice bond
D)   Personal bond

Question 7

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-rent

Accepted Answer

A)  fixed costs
B)  variable costs

Question 8

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-physicians' salaries

Accepted Answer

A)  fixed costs
B)  variable costs

Question 9

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-depreciation

Accepted Answer

A)  fixed costs
B)  variable costs

Question 10

MATCHING
Indicate whether the item applies to fixed costs or variable costs.

-loan payment

Accepted Answer

A)  fixed costs
B)  variable costs

Question 11

Which of the following accounting systems is based on the principle that assets equal liabilities plus owner's equity.This system requires time and skill and provides a comprehensive financial picture with built-in accuracy controls?

Accepted Answer

A)   Single entry
B)   Double entry
C)   Pegboard
D)   Computerized

Question 12

Which of the following best describes a primary need of medical facilities to monitor more information?

Accepted Answer

A)   Increased staff
B)   Decreased staff
C)   Longer hours
D)   Computerization

Exam 21: Accounting Practices

Which of the following accounting systems includes a daily journal or log,patients' statements,ledgers,checks,and disbursement records?

Correct Answer
verified

MATCHING Indicate whether the item applies to fixed costs or variable costs. -rent

Correct Answer
verified

MATCHING Indicate whether the item applies to fixed costs or variable costs. -loan payment

Correct Answer
verified

MATCHING Indicate whether the item applies to fixed costs or variable costs. -depreciation

Correct Answer
verified

Which would NOT be considered part of the ledger or journal entry?

Correct Answer
verified

MATCHING Indicate whether the item applies to fixed costs or variable costs. -laboratory procedures

Correct Answer
verified

MATCHING Indicate whether the item applies to fixed costs or variable costs. -physicians' salaries

Correct Answer
verified

Which of the following accounting systems is based on the principle that assets equal liabilities plus owner's equity.This system requires time and skill and provides a comprehensive financial picture with built-in accuracy controls?

Correct Answer
verified

Which of the following best describes a primary need of medical facilities to monitor more information?

Correct Answer
verified

Which of the following is NOT considered a bond to help protect practices from embezzlement?

Correct Answer
verified

Which of the following is NOT a true statement about a computerized accounting system?

Correct Answer
verified

Total monthly receipts are $50,000 and total monthly charges are $60,000 for the same month.Which of the following percents is the collection ratio?

Correct Answer
verified

Exam 21: Accounting Practices

Which of the following accounting systems includes a daily journal or log,patients' statements,ledgers,checks,and disbursement records?

Correct AnswerverifiedShow Answer

MATCHING Indicate whether the item applies to fixed costs or variable costs. -rent

Correct AnswerverifiedShow Answer

MATCHING Indicate whether the item applies to fixed costs or variable costs. -loan payment

Correct AnswerverifiedShow Answer

MATCHING Indicate whether the item applies to fixed costs or variable costs. -depreciation

Correct AnswerverifiedShow Answer

Which would NOT be considered part of the ledger or journal entry?

Correct AnswerverifiedShow Answer

MATCHING Indicate whether the item applies to fixed costs or variable costs. -laboratory procedures

Correct AnswerverifiedShow Answer

MATCHING Indicate whether the item applies to fixed costs or variable costs. -physicians' salaries

Correct AnswerverifiedShow Answer

Which of the following accounting systems is based on the principle that assets equal liabilities plus owner's equity.This system requires time and skill and provides a comprehensive financial picture with built-in accuracy controls?

Correct AnswerverifiedShow Answer

Which of the following best describes a primary need of medical facilities to monitor more information?

Correct AnswerverifiedShow Answer

Which of the following is NOT considered a bond to help protect practices from embezzlement?

Correct AnswerverifiedShow Answer

Which of the following is NOT a true statement about a computerized accounting system?

Correct AnswerverifiedShow Answer

Total monthly receipts are $50,000 and total monthly charges are $60,000 for the same month.Which of the following percents is the collection ratio?

Correct AnswerverifiedShow Answer

Correct Answer
verified

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verified

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verified

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verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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verified

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verified

Correct Answer
verified

Correct Answer
verified