Clinical Medical Assistant Certification Exam Practice Question
The medical assistant is responsible for maintaining invoices to give to the office manager for reimbursement to vendors for supplies purchased. Which of the following terms best describes this process?
Correct Answer: A
Rationale: Maintaining invoices for reimbursement to vendors aligns with the concept of accounts payable, which refers to the money a business owes to suppliers for goods and services received.
Accounts receivable (B) pertains to money owed to the business by customers, which is not relevant here. Cost analysis (C) involves evaluating costs to improve efficiency, rather than managing invoices. Petty cash receivables (D) refers to small cash transactions, not formal vendor invoices. A trial balance (E) is a financial statement that summarizes all accounts, but does not specifically address the process of managing vendor payments.
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