MA 50 Week 2 Theory Spelling and Terminology Exam

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Across
  1. 5. teller machine A banking machine operated by inserting a credit or bank card and entering a personal identification number (PIN) code. Deposits, transfers, withdrawals, and other banking functions can be performed at the ATM location 24 hours a day, seven days a week.
  2. 8. The total amounts owed by the practice to suppliers and other service providers for regular business operating expenses, such as medical office supplies and equipment, office rental space, utilities (gas and electric, water, telephone, and/or Internet services), and office staff salaries.
  3. 11. Process to bring checkbook and bank statement into agreement.
  4. 12. check A check you have written that does not appear on your bank statement because the payee has not yet cashed the check.
  5. 14. Actual payment of cash or cash equivalent for goods or services, or a charge against available funds in settlement of an obligation as evidenced by an invoice, receipt,
  6. 16. An analysis that allows for program evaluation by demonstrating whether the benefits received will outweigh its costs.
  7. 17. statement A record of an account sent to the account holder, usually on a monthly basis, showing the beginning balance, all deposits made, all checks drawn, all bank service charges and interest earned, and the closing balance.
  8. 18. An amount beyond what is currently in the account.
Down
  1. 1. The study and analysis of financial data as it applies to operational issues within a company; also known as cost accounting.
  2. 2. A category or classification of currency.
  3. 3. Anything to which a person is liable, responsible, legally bound; debts or accounts payable (A/P) owed by the business.
  4. 4. Any form of money; the name given to the cash we use in our society.
  5. 5. All the outstanding accounts (amounts due to the office); a reporting system to see who has not paid on their account.
  6. 6. The giving of authority.
  7. 7. Also known as a “statement of financial position”; reveals a company’s assets, liabilities, and owner’s equity (net worth).
  8. 9. A person to whom money is paid.
  9. 10. The person who signs the check or the corporation that pays it. The payer is also known as the maker.
  10. 13. collection ratio Also known as the adjusted collection ratio. It is calculated by taking the total payments for a specific period of time divided by the total charges, with the write-offs deducted from the total charges.
  11. 15. To entrust money to a bank or other institution; money (cash or checks) put into an account, increasing the account balance.