MIC101 - Chapter 46 Review

Which account is the MA most likely to use to pay the doctor's malpractice insurance bill?

It is appropriate to use a signature stamp to endorse a check only when it will be deposited.

A major disadvantage of single-entry bookkeeping is:

In a business checkbook, what do the stubs do?

In ____ bookkeeping system is every transaction posted into 2 different records, once as a credit and again as a debit.

____ describe the bills that the practice has for office rent, equipment rental, and salaries?

If there is a question about the amount of money that has been written on a check, what determines the legal amount?

Another name for the itemized charge slip used in the medical office is:

How often should the medical office make a bank deposit?

A fee schedule is what the medical assistant will use to determine the usual charge for the procedure.

Where is the MICR line located on a check?

What is the term used to describe money that is owed to the medical office?

Which codes are necessary in order to submit insurance claims?

Before leaving the office, the patient gives the medical assistant $10 on account. What type of entry does the MA make?

What type of things can be posted manually or in a practice management system?

What precaution should be taken when accepting a credit card for payment by a patient?

Why might the bank statement not agree with the office’s checking account record?

Who is responsible to determine the type or level of service provided to the patient?

A patient being given a discount for paying in full at the time of the visit is an example of a credit in bookkeeping.

When a company wants to make sure a check will clear the bank, how should the office pay the company?

The MA can accept a check for an amount greater than the amount owed by the patient.

How should checks that are received by the medical facility be endorsed?

What is the function of a daily journal (day sheet) in a bookkeeping system?

How can patients make payments on their accounts?

How does a medical office use a savings account?

____ is used to keep track of all the charges and payments for each individual patient?

Which of the following is an example of a debit adjustment (increases the amount the patient owes)?

Petty cash is used for incidental items that are usually not very expensive.

What account keeps a record of cash disbursed?

Income is calculated in the cash-basis accounting system at the time a patient bill is paid.

The accounting principle is:

How often are charges and payments usually posted to patient accounts?

What amount of money is left in the cash drawer at the end of the day?