Chapter 5: Bookkeeping, Credits, and Collections

Which of the following statements about double-entry bookkeeping is NOT true?

A bookkeeping term synonymous with "debit" is

The one-write system of check writing is a feature of

The individual record of the amounts owed and pid by each patient is ound in the

Posting to the patients' ledger and to the combined journal is made from the

The process of transferring an amount from one record, such as a journal, to another record, such as a ledger, is called

The word "debit" means

Owners' equity is a term used intercchangeaable with

A daily journal is where

A liability is

The credit column in an accounting system is always

Receipts are

An accounts receivable ledger consists of

The cash basis accounting system

A depositor's own check that is guaranteed by the bank is called a

The accounts receivable trial balance is a/an

The most active financial record in the medical office is the

The general journal, which is a record of the physician's practice, includes records of services rendered, carges make, and monies received. The general journal may be known by several other names. Which of the following is NOT another name for the general journal?

The cash and checks taken as payments for professional services rendered are called

Payments made by patients are regarded as the physician's

Collection agencies may retain up to _____% of the account collected on an overdue medical bill

Billing statements to the patients and the patients' insurance company are made from the

Regulation Z of the Truth in Lnding Act applies to physicians who accept payment from patients

Statues of limitations vary from one state to another and may range from

Another term meaning "payroll register" is

The collecction percentage is obtained for a given period of time by dividing

A list of accounts showing the title and balance of each account is called a/an

Which of the following equattions is correct?