BOOKKEEPING PROCEDURES EXAM QUESTIONS WITH CORRECT ANSWERS

BOOKKEEPING PROCEDURES EXAM QUESTIONS WITH CORRECT ANSWERS The bills that the practice has for office rent, equipment rental and salaries are known as - ANSWER-Accounts payable A type of charge slip that utilizes diagnostic and procedure codes is called - ANSWER-An encounter form Use of the accrual accounting method means that - ANSWER-Expenses are recorded when materials are ordered Most medical facilities in which doctors practice collect co-payments or balances due from patients - ANSWER-At each visit Once in agreement has been made with the patient to except monthly installments, the regulations that apply to the written contract are known as the - ANSWER-Truth-in-lending statements Disbursements are considered to be part of - ANSWER-Accounts payable To successfully reconcile a bank statement means that - ANSWER-The bank records and the medical office records are in agreement Elaboration on a code because a procedure was extensive or unusual requires the use of a - ANSWER-Two digit modifier If the patient has a balance to pay that is be on the insurance coverage amount, that payment - ANSWER-Is usually collected at the time of the visit When a code for a surgical procedure is started, This means that - ANSWER-Each phase of the procedure is being billed separately