RMA chapter 13

A list of all employees and their earnings, deductions, and other information is called

Payroll register

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

Certified check

Copying an amount from a journal onto a ledger is an example of

Posting

Paper towels are considered

Expendable items

Amounts charged with suppliers or creditors that remain unpaid are referred to as

Accounts payable

A collection ratio is

The total collections divided by net charges

The portion of salary held back from payroll checks for the purpose of paying government income taxes is known as

Withholding

Which of the following may be used by a payer as a third-party check?

Payroll check

A patient ledger card should include

all of these

Which of the following due dates for Employer's Quarterly Federal Tax Returns is not correct?

30-Jun

Accounts receivable age analysis

Is a tool to show the status of each account

A piece of paper describing a purchase and the amount due is known as a(n)

Invoice

Evaluation of the success of collection is based on

The collection ratio and the accounts receivable ratio

Which of the following statements regarding state unemployment tax is correct?

A few states require both employees and employers to make a payment

The accounts receivable ratio shows

How fast outstanding accounts are being paid

What is the trial balance?

A way of checking the accuracy of accounts

Amounts that are paid by cash or check called

Disbursements

Copies of bills for supplies should be kept on file for at least how long?

10 years

The reviewing of financial data to verify accuracy and completeness is called

Auditing

What does debit mean?

Charge

When new supplies are received, you should

Place them in the back of the storage area

A bank draft is a check drawn by a bank

On its funds in another bank

The credit policies of a medical facility

Should include a specification of when the practice requires payment, which should be in writing

Petty cash may be used

For paying minor expenses such as parking fees

Which type of check is frequently used for payroll because it itemizes the purposes for the check and deductions?

Voucher check