CMOM Financial Terms 2025/2026 Exam
Questions and Answers 100%
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Accounts Payable - 🧠ANSWER ✔✔Also called AP - Accounts Payable are
the bills the practice owes to vendors.
Accounts Receivables - 🧠ANSWER ✔✔Also called AR - accounts
receivable are the amounts owed to you by your patients and insurance
carriers.
Accounts Receivable Aging - 🧠ANSWER ✔✔Periodic report showing all
outstanding receivable balances broken down by patient/insurance
company from time originally posted. Normally viewed as current, over
30,60,90,and 120 days
Accrual Based Accounting - 🧠ANSWER ✔✔with the accrual method, you
record income when the service occurs, not necessarily when you receive
payment. You record an expense when you receive goods or services,
even though you may not pay for them until later.
1
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, Adjusted Charges - 🧠ANSWER ✔✔Total charges minus write - offs and
adjustments
Assets - 🧠ANSWER ✔✔Things of value held by the practice. Assets are
balance sheet accounts. Examples of assets are accounts receivable,
furniture, fixtures and bank accounts.
Average Billing per Patient - 🧠ANSWER ✔✔total billing per month divided
by total number of patient visits by month. This calculation can also be
done for specific diagnoses treated, new or established patients, or even
specific CPT codes. Total billing per month /total number of patient visits
per month + average billing per patient
Average Cost per Patient - 🧠ANSWER ✔✔The total expenses per month
divided by the total monthly patient visits. Can also be calculated for
specific diagnosis treated, new or established patients, or other specific
CPT codes and medical supplies Total expenses / total patient visits =
average cost per patient
Average Net Charges per Patient - 🧠ANSWER ✔✔Total net collection per
month /Total number of patients by month. Can also be calculated for
2
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
Questions and Answers 100%
Guaranteed Success | Already Rated A+
Accounts Payable - 🧠ANSWER ✔✔Also called AP - Accounts Payable are
the bills the practice owes to vendors.
Accounts Receivables - 🧠ANSWER ✔✔Also called AR - accounts
receivable are the amounts owed to you by your patients and insurance
carriers.
Accounts Receivable Aging - 🧠ANSWER ✔✔Periodic report showing all
outstanding receivable balances broken down by patient/insurance
company from time originally posted. Normally viewed as current, over
30,60,90,and 120 days
Accrual Based Accounting - 🧠ANSWER ✔✔with the accrual method, you
record income when the service occurs, not necessarily when you receive
payment. You record an expense when you receive goods or services,
even though you may not pay for them until later.
1
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, Adjusted Charges - 🧠ANSWER ✔✔Total charges minus write - offs and
adjustments
Assets - 🧠ANSWER ✔✔Things of value held by the practice. Assets are
balance sheet accounts. Examples of assets are accounts receivable,
furniture, fixtures and bank accounts.
Average Billing per Patient - 🧠ANSWER ✔✔total billing per month divided
by total number of patient visits by month. This calculation can also be
done for specific diagnoses treated, new or established patients, or even
specific CPT codes. Total billing per month /total number of patient visits
per month + average billing per patient
Average Cost per Patient - 🧠ANSWER ✔✔The total expenses per month
divided by the total monthly patient visits. Can also be calculated for
specific diagnosis treated, new or established patients, or other specific
CPT codes and medical supplies Total expenses / total patient visits =
average cost per patient
Average Net Charges per Patient - 🧠ANSWER ✔✔Total net collection per
month /Total number of patients by month. Can also be calculated for
2
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
