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WorksheetsAccounting
Total questions: 60
Worksheet time: 45mins
Which is NOT an accounting responsibility of medical office assistants?
billing and collections
Cleaning up after patients
bookkeeping
banking
Medical office assistants may be asked to do some accounting tasks?
True
False
Which is an aspects of bookkeeping?
sending invoices
preparing deposits
extending credit
providing financial information
What secretarial skills do you need for accounting?
organization
computer literacy
communication skills
What is NOT patient accounting information that must be kept private?
account number
dates of service
income information
occupation
What is the purpose of the HIPPA privacy rule?
to protect the privacy of an office's income
to protect the physician's personal privacy
to protect the privacy of patient information
to allow a healthcare provider to sell patient financial information
A patient's financial records are protected under the HIPPA privacy rule.
True
False
Is it acceptable to send patient information by email?
yes
only through a hospital staff email account
no
yes if the email is password protected
What is an event that affects the financial position of a company and can be reliably recorded?
accounting transaction
ledger transaction
income
expenditure
Paying the offices utility bill is an example of income.
True
False
When a patient makes a payment, what kind of accounting transactions is this for the medical office?
debt
income
expenditure
all of the above
What is the term for money owed to a company or office that has not yet been received?
accounts receivable
accounts posted
accounts payable
accounts in progress
Accounts receivable are considered ...
liabilites
equity
debts
assets
Which of the following is the correct equation for determining equity?
assets + liabilities= equity
assets - liabilities= equity
liabilities - assets= equity
What is the name of a patient bill that records services and charges for a specific time period?
a ledger
an itemization
a fee schedule
an invoice
Which of the following best describes a superbill?
a bill from an insurance carrier
a patient invoice listing services performed in one visit
a patient invoice totaling over $1,000
a patient invoice which itemizes their last five visits
Which of the following is another term for "superbill"?
encounter form
day sheet
discount form
patient ledger
appointment card
What is a fee schedule?
a list of specified fees
an appointment book specifying billing cycles
the physician's daily schedule
The medical office assistant is responsible for the patients understanding.
true
false
Ideally, When should patient payment be received?
within one month of service
before the patient's appointment
at the time of service
When should a patient be given an estimate of how much the fee for service might be?
when the appointment is set
when the patient checks out
when the patient checks in
the patient should already know
When should a receipt be issued to a patient?
only when a patient pays in cash
only when a patient pays with a personal check
every time a patient makes a payment in the office
Checks and cash received from patients as payment should be kept in the same place.
true
false
What must assistants do before accepting a check from a new patient?
checks cannot be accepted from new patients.
call the patient's bank
check the patient's identification matches the check
John is at the reception desk and does not have enough cash. He offers to sign over his payroll check. What kind of check would this be considered?
post-dated check
third party check
personal check
Terrance does not have enough money to pay his co-payment. He offers to write a check with tomorrow's date. What kind of check is this considered?
post-dated check
third party check
personal check
What type of payment is least likely to be accepted at a doctor's office?
credit card
debit card
cash
third party check
Is a physician allowed to charge a service fee when a patient uses a credit or debit card?
Yes
No
Definition for guarantor.
A person who guarantees free medical service
A person responsible for paying the patient's medical bill
A written contract between the patient and physician
What does it mean to extend credit?
The patient does not have to pay for the service
The patient can pay for the service in installments
The medical office issues the patient a credit card
A refund check is sent to the patient
What is the purpose of the Truth in Lending Act?
It requires physicians to report borrowed equipment
It requires all patients pay in four installments
It allows medical office assistants to borrow office funds
It requires physicians to disclose interest fees
Will patients receive a monthly bill from the medical practice even after the account has been turned over to a third-party collection agency?
Yes
No
How often should a patient receive a billing statement?
once a month
twice a month
three times a month
once every two months
Who can the medical office assistant speak to about a patient's unpaid bill?
The patient and patient's guarantor
The patient's employer
The patient's boyfriend or girlfriend
all of the above
Is it appropriate to call a patient about an unpaid bill at 11:00 pm?
yes
no
What is the first thing an assistant should do after receiving a patient overpayment?
Alert the physician on duty.
Call to inform the patient.
Call the patient's bank.
Tear up the check.
Who is responsible for recording disbursements?
Disbursements are not recorded
The head nurse
The medical office assistant
The physician
Which of the following terms refers to the person who writes the check?
Recipient
Endorser
Payor
Payee
Which of the following expenses might the petty cash fund be used for?
To purchase office Halloween decorations
To issue a patient refund
To pay an office utility bill
To pay for an office supply order
Why is it important to keep an up-to-date inventory of all administrative and clinical supplies in the office?
To keep track of the office's assets and liabilities
To avoid making unnecessary purchases or running out of important supplies
To keep the assistant busy
To keep employees from stealing office or clinical supplies
What should be stapled to every petty cash voucher before it is filed?
A purchase order
A receipt
An envelope
An invoice
Which of the following best describes a purchase order?
A note from the office manager asking for specific supplies
An invoice sent to a patient
An itemized inventory of supplies in the office
A standardized form to request an order from a vendor
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
The signature line
The amount, in words
The date
Which of the following type(s) of check is guaranteed not to bounce?
Personal check
Certified check
Money order
Both a personal check and a certified check
Both a certified check and a money order
A check stub, or register, should be filled out every time a check is written.
True
False
Which of the following best defines the term "disbursement"?
The fee charged by the office's banking institution
An outgoing amount of money from the office
An incoming amount of money from an insurance company
The posting of a payment made by a patient
Who should be in charge of the petty cash fund?
One authorized person
The physician
All medical office assistants
The head nurse
If an office uses automatic withdrawal to pay bills, those payment amounts do NOT need to be posted on any office ledgers.
True
False
Which of the following situations would make a check invalid?
If the check is not signed
If the address is incorrect
If the check number is below 1000
All of the above
What should be written in the Pay to the Order Of section of a check to establish a petty cash fund?
The medical office assistant's name
The physician's name
The name of the medical office
Cash
What should be done if a mistake is made while filling out a check?
Void the check and throw it away.
Use liquid paper to cover the mistake.
Cross out the mistake and correct it.
Void the check and file it with canceled checks.
Which of the following pieces of information on a bank statement would be found in the Activity Synopsis section?
Number of deposits made for the month
List of checks not processed for the month
List of checks processed for the month
Total amount of money deposited for the month
The ending balance on the bank statement will always be the same as the current balance in the check ledger.
True
False
Which of these best describes a check endorsement?
The amount written for the check to be made payable for
The payee's signature on the back of the check
The date on the front of the check
The payor's signature on the front of the check
Which kind of endorsement is most common in a business setting?
Blank endorsement
Qualified endorsement
Restrictive endorsement
Special endorsement
Ideally, how often should money received by the office be deposited?
Weekly
At the discretion of the medical office assistant
When the sum reaches over $1,000
Daily
Which of the following definitions best describes a deposit slip?
An itemized memo of funds to be posted to a bank account
A receipt given to patients after they pay their bill
An itemized statement of ATM withdrawals
A careless mistake made when depositing money
Which kind of endorsement is the most risky?
Qualified endorsement
Restrictive endorsement
Blank endorsement
Special endorsement
Reconciling the bank statement is optional.
True
False
Which of the following endorsements specifies the person to whom the endorser is making the check payable?
Blank endorsement
Qualified endorsement
Restrictive endorsement
Special endorsement
