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WorksheetsMoini Ch13 Financial Managment
Total questions: 25
Worksheet time: 13mins
Name
Class
Date
1.
A list of all employees and their earnings, deductions, and other information is called
a)
employee earnings.
b)
payroll tasks.
c)
accounts payable.
d)
payroll register.
e)
employee financial listing.
2.
Paper towels are considered
a)
incidental items.
b)
durable items.
c)
capital equipment.
d)
clinical supplies.
e)
expendable items.
3.
A collection ratio is
a)
the amount of money collected this year divided by the amount of money collected last year.
b)
the total collections divided by net charges.
c)
the total collections divided by gross charges.
d)
the total amount of money collected divided by any discounts.
e)
none of these
4.
The portion of salary held back from payroll checks for the purpose of paying government income taxes is known as
a)
W-4 forms.
b)
Federal Unemployment Tax Act.
c)
withholding
d)
annual tax returns.
e)
FICA.
5.
Accounts receivable age analysis
a)
means that the physician must collect the receivables on time.
b)
is not necessary in a single-physician office.
c)
is a tool to show the status of each account.
d)
involves writing off accounts that are more than one year past due.
e)
involves writing off accounts that are more than five years past due.
6.
Which of the following statements regarding state unemployment tax is correct?
a)
Only employees must make a payment.
b)
Only employers must make a payment.
c)
A few states require both employees and employers to make a payment.
d)
A few states do not make it available.
e)
none of these
7.
Amounts that are paid by cash or check are called
a)
disbursements
b)
statements
c)
receivables
d)
payables
e)
none of these.
8.
The reviewing of financial data to verify accuracy and completeness is called
a)
withholding taxes.
b)
auditing
c)
annual tax returns.
d)
accounts payable.
e)
taking a trial balance.
9.
A bank draft is a check drawn by a bank
a)
that is not limited.
b)
that can be used as a third-party check.
c)
that is less reliable than a cashier’s check.
d)
on the guaranteed funds of a depositor.
e)
on its own funds .
10.
Which type of check is frequently used for payroll because it itemizes the purposes for the check and deductions?
a)
bank draft
b)
voucher check
c)
limited check
d)
certified check
e)
cashier’s check
11.
When a patient’s account has a credit balance, which of the following should be circled on the daysheet and ledger?
a)
payments
b)
previous balance
c)
debits
d)
new balance
e)
charges
12.
A manufacturer offers a 15% discount when ordering 10 or more items. Each item costs $30. How much will 10 items cost?
a)
145
b)
215
c)
235
d)
245
e)
255
13.
Traveler’s checks can be purchased at which of the following locations?
a)
United States Post Office
b)
grocery store
c)
bank
d)
convenience store
e)
airport
14.
Which of the following is the purpose of petty cash?
a)
to pay for incidentals
b)
to pay creditors who prefer cash
c)
to loan cash to employees
d)
to loan cash to a physician
e)
to make change for patients
15.
Which of the following provides up-to-date information about a medical office’s accounts receivable status?
a)
patient ledger
b)
daysheet
c)
balance sheet
d)
billing statement
e)
income statement
16.
Spreadsheets are used most commonly for which of the following tasks?
a)
word processing
b)
desktop publishing
c)
electronic mailing
d)
accounting
e)
appointment scheduling
17.
A medical office uses eight reams of photocopier paper every two weeks. How many reams will be used in six months?
a)
48
b)
68
c)
96
d)
120
e)
180
18.
Which of the following terms describes a record of all outstanding accounts and the amounts that are due?
a)
daysheet
b)
credit balance
c)
balance sheet
d)
adjustment
e)
accounts receivable
19.
The disbursement journal maintains a record of business expenses for each
a)
week
b)
month
c)
quarter
d)
year
20.
If a patient writes a check but there are insufficient funds to cover it, this should be posted in which of the following columns of the daysheet?
a)
debit
b)
charge
c)
adjustment
d)
balance
21.
A ledger provides up-to-date financial information pertaining to which of the following?
a)
physicians
b)
pharmaceutical representatives
c)
insurance companies
d)
patients
e)
receptionists
22.
Which of the following forms is filed with an employer quarterly federal tax return?
a)
W-2
b)
W-4
c)
W-9
d)
940
e)
941
23.
When a patient’s account has a credit balance, which of the following should be circled on the daysheet and ledger?
a)
previous balance
b)
payments
c)
new balance
d)
charges
e)
trial balance
24.
Which of the following checks is also referred to as a treasurer’s check?
a)
certified
b)
limited
c)
traveler’s
d)
voucher
e)
cashier’s
25.
Which of the following is a form used to identify the number of withholding allowances chosen by an employee?
a)
W-2
b)
W-4
c)
W-9
d)
I-9
e)
1090
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