Which of the following actions should a medical assistant take to reconcile a bank deposit?

The medical office maintains record of each check issued that shows the date, the check number, the amount, and the payee. This is called a(n)
A) aging report B) ledger C) journal D) check register E) accounts payable detail

Susan is employed as a medical assistant and earns $15 per hour. The medical office pays employees each week. She works 42 hours during the current week. Her payroll deductions each week total $102.10. Her net pay for the week is
A) $747.10 B) $702.10 C) $645.00 D) $522.90 E) $542.90

When a check is endorsed "For Deposit Only," this is referred to as a
A) simple endorsement B) restrictive endorsement C) qualified endorsement D) special endorsement E) blank endorsement

B) restrictive endorsement

Which of the following will list, by individual patient names, funds owed to the practice for services provided?
A) Day sheet B) Accounts payable ledger C) Receipt D) Charge slip E) Accounts receivable ledger

E) Accounts receivable ledger

The process determining which patient accounts are due is
A) compiling a fee profile B) aging analysis C) posting managed care discounts D) coordination of benefits E) posting debits

A) compiling a fee profile

The delinquent account of a patient has been turnoed over to a collection agency. the patient calls the office and wants to make payment arrangements. The medical assistant should
A) ask the patient how much he can pay today B) set up a payment schedule with the patient C) tell the patient that the total amount due must be paid immediately D) direct the patient to the collection agency to discuss payments E) warn the patient of pending legal action to collect the money owed

D) direct the patient to the collection agency to discuss payments

The individual record of the amounts owed for medical services, payments made, and account balance for each patient is found in the
A) financial journal B) general ledger C) patient's ledger D) daily journal (day sheet) E) trial balance

Accounts receivable are
A) the record of expenses to be paid by the practice B) the record of money owed to the practice C) the record of health insurance companies D) the record of payroll transactions E) the record of disbursements

B) the record of money owed to the practice

The petty cash fund of the medical office is replenished when
A) a check is written and arrangements made for it to be cashed B) the medical assistant adds cash to the fund and requests reimbursement C) cash is added from daily collections when funds are low D) the physician contributes cash to the fund E) the petty cash fund is closed

A) a check is written and arrangements made for it to be cashed

The patient's ledger is actually a(n)
A) accounts payable ledger B) accounts receivable ledger C) day sheet D) income account E) general ledger

B) accounts receivable ledger

The trial balance of accounts receivable is prepared
A) daily B) weekly C) monthly D) annually

Payments of professional services by cash, checks, or credit card are called
A) receipts B) receivable C) adjustments D) payables E) disbursements

The medical assistant can find information regarding the filing of reports and taxes from the employee's earnings and employer's tax contributions in the
A) IRS Employer's Tax Guide B) medical office handbook C) IRS Income Tax Guide D) Physician's Desk Reference

A) IRS Employer's Tax Guide

The medical assistant applies a discount to an unpaid balance on a patient account. This action is referred to as a(n)
A) charge for service B) account payable C) adjustment D) receivable E) withholding

The following ledger entry reduces the balance owed by a patient, but is NOT caused by either a charge for service or a payment
A) Debit B) Credit C) Adjustment D) Payable E) Receivable

A patient is charged $100 for treatment by the physician. The patient pays $60 and the medical office posts an adjustment to reduce the balance due by $15. What is the balance due on this account?
A) $100 B) $85 C) $40 D) $ 15 E) $25

Employers are obligated by law to match which of the following?
A) Local income tax withheld B) State income tax withheld C) Federal income tax withheld D) FICA E) FUTA

Of the following statements, the MOST appropriate for use in a collection letter is
A) "We will be happy to assist you in making payment arrangements." B) "We must receive payment within 10 business days or...." C) "Did you lost our last billing?" D) " We are disappointed that you have not made payment on this account." E) "We cannot pay our employees without receiving your payment."

A) "We will be happy to assist you in making payment arrangements."

An emancipated minor sees the physician for a scheduled appointment. The charge for service should be
A) billed to the parents B) written off as uncollectible C) forwarded to the insurance company of the parents D) billed to the patient E) filed with medicaid

When reconciling the bank statement for the medical practice, which of the following actions will cause an error?
A) Deducting bank service charges from the checkbook balance B) Deducting outstanding automated teller machine (ATM) withdrawals from the bank statement C) Deducting outstanding checks from the bank statement D) Deducting NSF checks from the checkbook balance E) Deducting monthly interest paid by the bank from the checkbook balance

E) Deducting monthly interest paid by the bank from the checkbook balance

Which of the following actions should a medical assistant take to reconcile a bank deposit at the end of the day?

Which of the following is the priority action for a medical administrative assistant to take when making a financial policy change?

Which of the following actions should a medical administrative assistant take when collecting monies owed by a patient?

Which of the following is the priority action for a CMAA to take when making a financial policy change?