Hi-1011 Chapter 22 & 23 Financial Management/Practice Management

19 Questions | Total Attempts: 183

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Financial Management Quizzes & Trivia

The Medical Administrative Assistant. Practice for certification exam.


Questions and Answers
  • 1. 
    Fica was designed only for retirement
    • A. 

      True

    • B. 

      False

  • 2. 
    Payroll records include the employees name, SS#, number of withholding allowances, salary or hourly wage and deductions.
    • A. 

      True

    • B. 

      False

  • 3. 
    Tax deductions are determined based on an employee completing a W-2 form.
    • A. 

      True

    • B. 

      False

  • 4. 
    A W-2 form is a six part form completed by the employee for tax purposes
    • A. 

      True

    • B. 

      False

  • 5. 
    Quartely returns are due the last day of the month that follows the end of the quarter
    • A. 

      True

    • B. 

      False

  • 6. 
    Payroll should always be done by a professional service
    • A. 

      True

    • B. 

      False

  • 7. 
    Forecasting is looking at the present activity of the business
    • A. 

      True

    • B. 

      False

  • 8. 
    All states have unemployment compensation laws
    • A. 

      True

    • B. 

      False

  • 9. 
    Good planning helps a business grow and stay financially strong
    • A. 

      True

    • B. 

      False

  • 10. 
    Every employee should receive thier own copy of the companies policy and procedure manual with a signature of receipt documented in their employee file
    • A. 

      True

    • B. 

      False

  • 11. 
    Managers should perform all tasks to make sure they are done correctly
    • A. 

      True

    • B. 

      False

  • 12. 
    Sometimes work relationships turn into close friendships.  You should stay professional and the know the companies policies on dating and fraternizing with subordinates.
    • A. 

      True

    • B. 

      False

  • 13. 
    A manager must be able to effectively communicate in both oral and writtien communication while also possessing good listening skills.
    • A. 

      True

    • B. 

      False

  • 14. 
    OSHA requires all employees are trained within the first 30 days of employment
    • A. 

      True

    • B. 

      False

  • 15. 
    A charasmatic leader...
    • A. 

      Is fair and hardworking

    • B. 

      Inspires individuals

    • C. 

      Is a relationship builder

    • D. 

      Is effective for reorganization

  • 16. 
    Upon having to interview applicants to "know the details" is to know what the applicant has to offer
    • A. 

      True

    • B. 

      False

  • 17. 
    Power is the ability to influence individuals to carry out duties as directed.
    • A. 

      True

    • B. 

      False

  • 18. 
    The laissez-faire style of management is
    • A. 

      Fair minded

    • B. 

      Demanding

    • C. 

      Easy going

    • D. 

      Asks for staff opinions

  • 19. 
    Legitimate power is based on
    • A. 

      Positive use of power

    • B. 

      Manipulative

    • C. 

      Granted by others to those who lead

    • D. 

      A position or status