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Which of the following entries are recorded in the adjustment column?
a. Insurance write-offs
b. Payments received
c. Services rendered
d. Credit balances - Correct Answer - Insurance write-offs
If the total income for one month is $17,500 and the total expenses for
the same month are $15,500, the profit and loss statement would show a
a. gross profit of $17,500.
b. gross profit of $33,000.
c. net profit of $17,500.
d. net profit of $2,000. - Correct Answer - net profit of $2,000.
Employers are required by law to withhold certain amounts from
employees' earnings. These amounts must be reported and forwarded to
the IRS to be applied toward payment of income tax. The Income Tax
Withholding is also known as
a. W-2
b. W-4
c. W-9
pg. 1
,d. Form 1040 - Correct Answer - W-4
Which one of the following represents the total of all patient outstanding
balances owed to the practice?
a. Accounts payable
b. Accounts receivable
c. Charges
d. Receipts - Correct Answer - Accounts receivable
This type of check is a bank's own check drawn on itself and signed by
the bank casher or other authorized official. This check is obtained by
paying the bank the amount of the check.
a. Bank draft
b. Limited check
c. Voucher check
d. Cashier's check - Correct Answer - Cashier's check
Which one of the following is a physician having a practice limited to
the aging population?
a. Gastroenterologist
b. Gynecologist
c. Gerontologist
d. Pathologist - Correct Answer - c. Gerontologist
The purpose of the Good Samaritan Act is to protect healthcare
providers rendering First Aid from
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,a. loss of credentials.
b. civil and criminal liability.
c. contracting diseases.
d. accidental injury. - Correct Answer - b. civil and criminal liability.
The statute that defines what is included in the practice of medicine,
establishes the requirements for licensure, and establishes the grounds
for suspension or revocation of a license is called the
a. Nursing and Advance Practice Nursing Act.
b. Medical Practice Act.
c. Patient's Bill of rights.
d. National Health Planning and Resources Development Act. - Correct
Answer - b. Medical Practice Act.
Which of the following is a court order requiring a witness to produce
records for a trial?
a. Bench Warrant
b. Writ
c. Interrogatory
d. Subpoena duces tecum - Correct Answer - d. Subpoena duces tecum
When patients arrive at the physician's office, medical records should
not be found lying on the reception desk in view of patients signing in or
approaching the desk. Avoiding this situation prevents violation of
regulations established by the
a. Health Insurance Portability and Accountability Act (HIPAA)
pg. 3
, b. Occupational Safety and Health Administration Act (OSHA)
c. The Joint Commission
d. Clinical Laboratory Improvement Ammendments (CLIA) - Correct
Answer - Health Insurance Portability and Accountability Act (HIPAA)
The specific amount specified by an insurance plan that the patient must
pay toward the charges for professional services rendered is the
a. copayment.
b. premium.
c. deductible.
d. claim. - Correct Answer - copayment
Medical sole proprietorship, partnerships, groups, and corporations are
encouraged to purchase insurance policies that include benefits for
medical expenses payable to individuals who are injured in the insured
person's home, business, or car, without regards to the insured person's
actual legal liability for the accident. This type of insurance is called
a. life insurance.
b. special risk insurance.
c. disability (loss of Income) protection.
d. liability insurance. - Correct Answer - liability insurance.
The notice sent to the patient showing the amount owed to the physician
is called the
a. CMS 1500.
b. chart of accounts.
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