The Receiving Report

question 20

Multiple Choice

The receiving report

• A)is used to update the actual cost inventory ledger
• B)accompanies the goods to the storeroom
• C)is sent to general ledger
• D)is returned to the vendor to acknowledge receipt of the goods

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Definitions:

Payment

The exchange of funds or items for a service or product.

Balance Due

The amount of money owed on an account or invoice after payments have been applied.

Billing System

A combination of software and procedures that is used to issue and manage invoices and financial transactions for goods or services.

Cycle Billing

A system that sends invoices to groups of patients every few days, spreading the work of billing all patients over the month while billing each patient only once.