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Flashcards in Med Office 3 Deck (57)
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1

disclaimer

denial of responsibility; a denial of a legal claim

2

drawee

a bank or facility on which a check is drawn or written

3

draweer

the person who writes a check

4

e banking

electronic banking via computer modem or over the internet

5

endorser

the person who signs his or her name of the back of a check for the purpose of transferring title to another person

6

holder

the person who presents a check for payment

7

maker

any individual, corp, who signs a check

8

m banking

banking through the use of mobile devices

9

negotiable

legally transferable to another party

10

payee

the person named on a draft or check as the recipient of the amount shown

11

payer

the person who writes a check in favor of the payee

12

power of attorney

legal statement in which a person authorizes another person to act as his or her attorney or agent. The authority may be limited to the handling of specific procedures. The person authorized to act as the agent is known the attorney in fact

13

principal

capital sum of money due as a debt or used as a fund for which interest is either charged or paid

14

reconciliation

process of proving that a bank statement and checkbook are in agreement

15

uniform commercial code

unified set of rules covering many business transactions. It regulates the fields of sales of goods; commercial paper

16

accounts payable

debts incurred and not yet paid

17

accounts receivable

amounts owed to the physician

18

accounts receivable trail balance

method of determining that the journal and the ledger are in balance

19

accrual basis of accounting

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

20

admonition

counsel or warning against fault or oversight

21

assets

entire property of a persons, association, corp. or estate applicable or subject to the payment of debts

22

balance sheet

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

23

bookkeeping

recording of business and accounting transactions

24

cash basis of accounting

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

25

cash flow statement

financial summary for a specific period that shoes the beginning balance on hand, the receipts and disbursements during the period, and the balance on hand at the end o the period

26

controls

standard of comparison to make sure answers obtained are accurate

27

disbursements journal

summary of accounts paid out

28

entry

record or notation of an occurrence, transaction, or proceeding

29

equities

monetary value of a property or of an interest in a property in excess of claims or liens against it

30

in balance

state in which the total ending balances of patient ledgers equal the total of accounts receivalbe