Chapter 23 Vocabulary

20 terms by amberperea

Create a new folder

Advertisement Upgrade to remove ads

medical billing and coding

accounts payable

Debts incurred and not yet paid.

account receivable

Amounts owed to the physician.

account receivable trial balance

A method of determining that the journal and they ledger are in balance.

accrual basis of accounting

Method of accounting in which income is recorded when earned and expenses are recorded when earned and expenses are recorded when incurred.

assets

The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.

balance sheet

A financial statement for a specific date that shows the total assets, liabilities, and capital of business.

bookkeeping

The recording of business and accounting transactions.

cash basis of accounting

Method of accounting in which income is recorded when received and expenses are recorded when paid.

cash flow statement

A financial summary for a specific period that shows the beginning balance on hand, the receipts and disbursements during the period, and the balance on hand at the end of the period.

disbursement journal

A summary of accounts paid out.

equities

The money value of a property or of an interest in a property in excess of claims or liens against it.

fiscal year

An accounting period of 12 months.

in balance

State in which the total ending balance of patient ledger equals total of accounts receivable.

invoice

A paper describing a purchase and the amount due.

liabilities

Things that are owed; debts.

packing slip

An itemized list of objects in a package.

petty cash fund

A fund maintained to pay small unpredicable cash expenditures.

statement

A request for payment.

statement of income and expense

A summary of all income and expenses for a given period.

trial balance

A method of checking the accuracy of accounts.

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

NEW! Voice Recording

Create Set