Question

MOA130 Bookkeeping in the Medical Office Bookkeeping Worksheet Name: Grade: 1 point for each correct answer. Grade: Directions: Complete each statement. Using the vocabulary list will be helpful ccounts payabi -are debts incurred but not yet paid. 2. To estimate the budget fo r a new year, the practice should evaluate expenses from the year The entire property of a person is said to be his or her 4. Amounts owed to the physician are accounts The recording of business and accounting transactions is called 5. A record or notation of a transaction is called a(n) 6. 7. Sally reviewed the EOB for Mr. James Bank's account and saw that the provider's fee exceeded the amounts stated on the EOB. She posted an/a to his account record for the difference. 8, ABC Physical Therapy was offering a $150 check to providers for each patient referred who was on a government insurance plan. ABC Physical Therapy violated the This amount is considered their Jameson Medical Clinic has $2350 in the bank that can be withdrawn as cash. 9. This is a manual bookkeeping system that uses day sheets to record all financial transactions for the date of 10. service and maintains patient account balances by using physical cards. 11. M &N Insurance Company overpaid a patient's account by $75. Sally, the accountant, needed to send a check which was a back to the insurance company Write Tor F on the line next to the statement. In the physician's office, the accounts payable is the amount of money that all patients owe the physician. Indicate whether the statement is true (T) or false (F). rections: 12. 13. The purpose of the trial balance is to disclose any discrepancies between the journal and the ledger

Answer 1

1.Accounts payable refers to an organization buying product from a vendor or if a patient gets the service from healthcare sector after admission are supposed to pay the money or amount or cost incurred for it

Ans:Payable

2.If a future or next years financial plan is made,it is always a thing to assess the financial status of previous year which gives a clear idea and rough estimation of where loss and profits occur and plan accordingly

Ans:previous

3.The properly which a person earns during his life Tim is terned to be valuables or assets.This can be movable or immovable assets

Ans:assests

4.A physician offers or renders his service to the needy patient ,they are supposed to receive the amount for the service they provided.This is termed to be accounts receivable

Ans:receivable

5.In accounting recording section is very important where it contains the details of transaction done in an organization or in a business it is termed to be book keeping

Ans:bookkeeping

6.The transaction which are done during an work has to be recorded ,maintained and can be used in future is called as an entry

Ans:entry