Deck 15: Financial Systems: Accounts Receivable

Question 1

Which accounting term indicates the amount incoming to a dental practice?

A) Overhead
B) Gross income
C) Accounts receivable
D) Net income
E) Petty cash

Answer 1

Accounts receivable

Question 2

Which of the following statements is true about a credit bureau?

A) It does not lend money.
B) It does not deny credit.
C) It is not a collection agency.
D) All of the above.

Answer 2

All of the above.

Question 3

What does "NSF" stand for?

A) Not Satisfied Forever
B) Notary Standard Function
C) Non Sufficient Funds
D) Non Situational Findings

Answer 3

Non Sufficient Funds

Question 4

___ should be maintained separately from the patient's clinical record.

A) Insurance information
B) Financial records
C) Consent forms
D) All of the above

Question 5

Accounts receivable refers to all financial accounts that the dentist owes.

Question 6

Which accounting term indicates the amount a dental practice owes others?

A) Gross income
B) Accounts payable
C) Accounts receivable
D) Net income

Question 7

A statement is a list of services that have been rendered. It is also a request for payment.

A) The first statement is true and the second statement is false.
B) The first statement is false and the second statement is true.
C) Both statements are true.
D) Both statements are false.

Question 8

Which of the following statements is not true about the Fair Debt Collection Practices Act?

A) Debtors may not be subjected to harassment or abusive treatment.
B) Debtors may not be called at inconvenient places or times, such as before 9 AM or after 9 PM.
C) No one except the debtors may be told they are delinquent in their bill.
D) Messages of delinquency may be left on an answering machine provided you mention the delinquent person's name in the message.

Question 9

When writing a collection letter, you should avoid:

A) stating the amount owed.
B) stating the date by which you expect payment.
C) making statements on which you cannot follow through.
D) asking for the money owed within a specified time.

Question 10

The bookkeeping system of choice in the dental office is:

A) manual entry.
B) pegboard.
C) computer software.

Question 11

Identify theft does not happen in the dental office.

Question 12

The collection process should have four stages: reminder, inquiry/discussion, urgency, and ultimatum.