Ch 19/20/21

Question 1

Amount owed to a business for services or goods supplied

Answer 1

Accounts receivable

Question 2

Increases or decreases to patient accounts not due to charges incurred or payment received

Answer 2

Adjustments

Question 3

Amount owed

Answer 3

Balance

Question 4

Bank’s own check drawn against the bank’s account

Answer 4

Cashier’s check

Question 5

Decreases balance due

Answer 5

Credit

Question 6

Form used with pegboard system to record daily patient transactions

Answer 6

Day sheet

Question 7

Used for entering charges and description of services

Answer 7

Debit

Question 8

Formerly known as a charge slip or superbill

Answer 8

Encounter form

Question 9

The person identified as responsible for payment of the bill

Answer 9

Guarantor

Question 10

Record of charges, payments, and adjustments for individual patient or family

Answer 10

Ledger

Question 11

Someone with the legal capacity to witness and certify documents

Answer 11

Notary

Question 12

Small sum kept on hand for minor or unexpected expenses $75-$100

Answer 12

Petty cash

Question 13

Most commonly used manual medical accounts receivable system

Answer 13

Pegboard system

Question 14

Person named on check who is to receive the amount indicated

Answer 14

Payee

Question 15

Recording financial transactions into a bookkeeping or accounting system

Answer 15

Posting

Question 16

Often used in place of cash when traveling

Answer 16

Traveler’s check

Question 17

Check with detachable form used to detail reason check is drawn

Answer 17

Voucher check

Question 18

Outstanding accounts receivable divided by the average monthly gross income for the past 12 months

Answer 18

Accounts receivable ratio

Question 19

Gross income divided by the amount that could have been collected less disallowances

Answer 19

Collection ratio

Question 20

1977 federal law that outlines collection practices

Answer 20

Fair debt collection practice act

Question 21

Court that administers estates and validates wills

Answer 21

Probate court

Question 22

Statue that defines the period in which legal action can take place

Answer 22

Statue of limitations

Question 23

Known as the consumer credit protection act of 1968; an act requiring providers of installment credit to state the charges in writing and to express the interest as can annual rate

Answer 23

Truth-in-lending act

Question 24

Sum owed by a business for derives or goods received

Answer 24

Accounts payable