You Are Reconciling the Office Checking Account with the Bank

question 132

Multiple Choice

You are reconciling the office checking account with the bank statement that arrived this morning. After accounting for unrecorded deposits, checks, and debits, you find that the total in your practice records is $11,760 and the bank's total is $12, 160. What is the first thing you should do?

• A) Adjust the practice records to match the bank's total
• B) Call the bank and inform them of the error on the statement
• C) Review each item on the statement against your records to find the $400 difference
• D) Inform the physician that the books do not balance this month
• E) Ask the office manager to call the auditor to review the books

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Definitions:

Online

Connected to or available through the Internet or other digital network infrastructure.

Social Networking

The use of internet-based social media platforms to stay connected with friends, family, or colleagues, and to share information and ideas.

Territory

A defined geographical area that is claimed or occupied by a person, group, organization, or country, often associated with ownership, jurisdiction, and control.

Behavior Setting

A theory in ecological psychology that suggests an environment's physical and social settings influence the behavior of individuals within it.