Question

Which accounting system includes a daily log, patient statements, ledgers, checks, and disbursement records?

A) Single-Entry System
B) Double-Entry System
C) Accrual Accounting
D) Cash Basis Accounting

Answer 1

The B) Double-Entry System includes daily logs, patient statements, ledgers, checks, and disbursement records.

Step-by-step explanation:

The accounting system that includes a daily log, patient statements, ledgers, checks, and disbursement records is the Double-Entry System. In this system, every transaction affects at least two accounts, with one account being debited and the other being credited. The daily log records all transactions, patient statements track outstanding balances, ledgers keep track of individual accounts, checks are used for payment, and disbursement records document the distribution of funds.