Petty cash Study guides, Class notes & Summaries

what system is used for recording solicitors accounts? - CORRECT ANSWER-double entry bookkeeping what are the two aspects of every financial transaction to be logged? - CORRECT ANSWER-Debit DR Credit CR what are the two aspects if the firm pays cash to buy premises? - CORRECT ANSWER1. firm has less cash 2. firm has acquired an asset in the form of premises examples of what will go in the left/debit side column? - CORRECT ANSWER-expense incurred asset acquired/increased liability...

There are several reasons why the petty cash fund would experience a shortage or an overage. Determine which of the actions below would result in a shortage or an overage in the petty cash fund. The petty cashier underpaid for the amount due. The petty cashier obtained a receipt for the payment. The company cashier reduced the petty cash account. The petty cashier failed to get a receipt for payment. - ANSWER The petty cashier failed to get a receipt for payment. EFTcollection and cr...

PATIENT TRUST FUNDS - 1) Policy: - Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 2) Required Printed Information: - This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of accounts (Minimum: Quarterly) 3) Procedure: American Institute of CPA -...

CMAA Exam Test B Latest Updated 2023 Graded A A medical administrative assistant should verify a patient's CPT code for, which of the following Processes? Obtaining Prior authorization Prior to an invasive procedure, a patient asks a medical administrative assistant about other options that are available. Which of the following actions should the assistant take? Advise the patient to ask the provider about alternatives Which of the following abbreviations should a medical administrative ...

There are several reasons why the petty cash fund would experience a shortage or an overage. Determine which of the actions below would result in a shortage or an overage in the petty cash fund. The petty cashier underpaid for the amount due. The petty cashier obtained a receipt for the payment. The company cashier reduced the petty cash account. The petty cashier failed to get a receipt for payment. - ANSWER The petty cashier failed to get a receipt for payment. EFTcollection and cre...

Peregrine Exam Questions With 100% Verified Answers 2024/2025 Graded A+. What is a general ledger? A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits stockholders' equity accounts such as Common Stock, Retained Earnings, Treasury...

An office manager asks an MAA to mail a letter to a patient who is being dismissed from the practice. Which of the following methods should the MAA use to mail the letter? Certified mail, first-class mail, priority, or standard? correct answer: Certified Mail A MAA should verify a patient's CPT code for which of the following processes: Coordination of Benefits, Determining Eligibility of services, Obtaining prior authorization, or receiving a referral? correct answer: Obtaining prior auth...

intermediate accounting exam 3Which of the following is not considered cash for financial reporting purposes? a. petty cash funds and change funds b. money orders, certified checks, and personal checks c. coin, currency, and available funds d. postdated checks and I.O.U.s - correct answer postdated checks and I.O.U.s which of the following is considered cash? a. certificates of deposit (CDs) b. money market checking accounts c. money market savings certificates d. postdated checks - ...

CMAA Certification Exam (2024 Update) || All Questions & Solutions Graded A+ CMAA Certification Exam (2024 Update) || All Questions & Solutions Graded A+ An office manager asks a medical administrative assistant to mail a letter to a patient who is being dismissed from from the practice. Which methods should the assistant use to mail the letter. - ANSWER - Certified Mail - This type of mail provides return receipts that are used to prove the recipient received the document. A medical admi...

Test Bank for Foundations of Finance 10e 10th Edition by Arthur J. Keown, John D. Martin; J. William Petty ISBN-13: 0619 Full chapters test bank in PDF PART I: THE SCOPE AND ENVIRONMENT OF FINANCIAL MANAGEMENT 1. An Introduction to the Foundations of Financial Management 2. The Financial Markets and Interest Rates 3. Understanding Financial Statements and Cash Flows 4. Evaluating a Firm’s Financial Performance PART II: THE VALUATION OF FINANCIAL ASSETS 5. The Time Value of Money 6. The Meaning...