[MO2] Accounts Payable [Tier 01]
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | involved the process of identifying, recording and communicating economic events
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| show | the formula that is considered the basis for all financial accounting; assets minus liabilities equals net worth
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| show | the total amounts owed by the practice to suppliers
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| show | the total dollar amount of the outstanding payments or claims due to the office from patients and customers
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| show | anything owned that has exchange value
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| show | reveals a company's assets, liabilities and owner's equity (net worth)
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| collection ratio | show 🗑
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| cost ratio | show 🗑
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| show | an analysis that allows for program evaluation by demonstrating whether the benefits received will outweigh its costs
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| depleted | show 🗑
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| show | an accounting method of recording transactions that provides an equality of debits and credits
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| equity | show 🗑
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| show | actual payment of cash or cash equivalent for goods or services
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| financial records | show 🗑
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| show | includes the total payments received by a practice for a specific period of time
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| income statement | show 🗑
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| show | a document that includes itemization of goods and purchases or services provided together with the charges and terms of the agreement
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| liabilities | show 🗑
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| managerial accounting | show 🗑
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| net collection ratio | show 🗑
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| show | assets minus liabilities, which demonstrates the value of a business
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| operating information | show 🗑
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| show | a manual bookkeeping system that uses a lightweight board with pegs to track the physicians day sheet transactions, patient ledgers and deposits
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| petty cash | show 🗑
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| show | a bookkeeping worksheet used to ensure the entries in a company's bookkeeping system are mathematically correct.
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| show | a document that serves as proof that the terms of a transaction have been met
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| write-offs | show 🗑
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Created by:
MaesterRay
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