NAME: ________________________

MOD A - Unit 1 Kinn's Ch. 24 Test

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5 Written Questions

5 Matching Questions

  1. FICA provides for
  2. Form W-2
  3. Assets
  4. FICA
  5. Form W-3
  1. a The Wage and Tax Statement. Employer is required to furnish two copies to each employee from whom income tax or Social Security tax has been withheld.
  2. b The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.
  3. c The Transmittal of Income and Tax Statement. Employers must file form annualy to transmit wage and income tax withheld statements (Form W-2) to the Social Security Administration.
  4. d Federal Insurance Contributions Act
  5. e a federal system of old age, survivors, disability, and hospital insurance. Rate is 6.2 % for employees and employers.

5 Multiple Choice Questions

  1. is a record that is used to make payments.
  2. $25 to $50
  3. employees and employers
  4. 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.
  5. Auto expenses, dues and meetings, equipment, insurance, medical supplies, office expenses, printing, postage and, stationary, rent and maintenance, salaries, taxes and licenses, travel and entertainment, utilities, miscellaneous, personal withdrawals.

5 True/False Questions

  1. Accounts receivable ledgerprovides information about the amounts owed to the physician.

          

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

          

  3. The amount of taxes to withheld is based onsingle-entry system, double-entry system, and pegboard (write-it-once) system

          

  4. categories considered for the physician's operating budget$25 to $50

          

  5. InvoiceA paper describing a purchase and the amount due.

          

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