Exam 27: Accounts, Collections, and Banking

Which of the following best describes an ACH transfer of funds between two separate banking institutions?

Who is financially responsible for a minor seeking treatment for STD without parental consent?

The __________ uncovers any errors that may exist in the checkbook or, on rare occasions, the bank statement.

A document guaranteeing payment of a specific amount of money to the payer named on the document is

A plan in which payments are transferred, usually electronically, by a paying agency directly to the account of a recipient is called

Accounts receivable are moneys that are expected but not yet received. All invoices, statements, and operational expenses are included in accounts receivable.

What is required for a check to be negotiable?

ACH payments can be made using the routing and account number and are processed at banks like regular checks.

An insured account requiring a minimum balance that draws interest at a higher percentage than a regular savings account is called a __________ account.

Which of the following should be considered when using a collection agency?

All property available for the payment of debts said to be his or her __________.

The bank statement reconciliation is used as an audit, or to ensure that the bank is managing the funds in the account accurately. Any errors on the bank statement should be reported to the bank immediately.

Which of the following types of accounts requires a minimum balance and draws interest at the highest rates?

Which of the following endorsements includes words specifying the person to whom the endorser makes the check payable?

Amounts owed to the physician are accounts _____________.

Bank statements should be checked immediately upon receipt and scanned carefully for errors.

The stamp "For deposit only" is a restrictive endorsement.

Most patients who write checks to pay their account with their physician have no intention of fraud.

Which of the following digits in an RTN represent the individual bank identification number?

What is the first thing the medical assistant should do when a check is returned unpaid by the bank?