Moini Ch13 Financial Managment

A list of all employees and their earnings, deductions, and other information is called

• employee earnings.
• payroll tasks.
• accounts payable.
• payroll register.
• employee financial listing.

Paper towels are considered

• incidental items.
• durable items.
• capital equipment.
• clinical supplies.
• expendable items.

A collection ratio is

• the amount of money collected this year divided by the amount of money collected last year.
• the total collections divided by net charges.
• the total collections divided by gross charges.
• the total amount of money collected divided by any discounts.
• none of these

The portion of salary held back from payroll checks for the purpose of paying government income taxes is known as

• W-4 forms.
• Federal Unemployment Tax Act.
• withholding
• annual tax returns.
• FICA.

Accounts receivable age analysis

• means that the physician must collect the receivables on time.
• is not necessary in a single-physician office.
• is a tool to show the status of each account.
• involves writing off accounts that are more than one year past due.
• involves writing off accounts that are more than five years past due.

Which of the following statements regarding state unemployment tax is correct?

• Only employees must make a payment.
• Only employers must make a payment.
• A few states require both employees and employers to make a payment.
• A few states do not make it available.
• none of these

Amounts that are paid by cash or check are called

• disbursements
• statements
• receivables
• payables
• none of these.

The reviewing of financial data to verify accuracy and completeness is called

• withholding taxes.
• auditing
• annual tax returns.
• accounts payable.
• taking a trial balance.

A bank draft is a check drawn by a bank

• that is not limited.
• that can be used as a third-party check.
• that is less reliable than a cashier’s check.
• on the guaranteed funds of a depositor.
• on its own funds .

Which type of check is frequently used for payroll because it itemizes the purposes for the check and deductions?

• bank draft
• voucher check
• limited check
• certified check
• cashier’s check