Nichole

1. Answer the Following Questions:
Nichole Cupples
1. The financial records of any business should show the following at all times:
a. ________prompt billing and collections procedures. __
b. Accurate budgeting _ _______
c. ___professional finacial planning_____ ___
d. Accurate reporting to federal and state agency _______________ __ 2. When writing numbers, keep the columns straight and write _____well formed figures______ ___________ ______________

3. The manual disbursement journal must show the following: a. ___every account_paidout____ _______________________
b. ____date and check number______ _______________________
c. ____purpose of payment_________________

4. The three most common accounting systems found in medical offices are.
Single entry system
Peg board system
Double entry system a. _prompt billing and collection procedures__________ __ b. Accurate bud

c. ___professional financal planning
d.___accurate reporting of federal and state agency_____ _______________________

5. Differentiate between accounting and bookkeeping: ____accounting is a system of recording, classifying, ans summarizing financial transactions. Bookkeeping is the recording__part of te accounting process. Bookkeeping must be done daily. ____________________________________________________________________________________________________________________ ___________________________________________________________

6. List three cardinal rules of bookkeeping:
a. Use good penmanship __
b. Enter all changes and receipts