Practice Quiz

Vet Manager Exam Prep - Question List

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36. When a client has pet health insurance, who does the privity of contract exist between?
  1. The insurance company, veterinarian, and animal owner
  2. The veterinarian and the animal owner
  3. The insurance company and the veterinarian
  4. The insurance company and the animal owner
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37. If an employee time card report that during the course of one day that they worked from 8:00 - 12:00, and 3:00 - 7:00, how many hours would they be paid for that day?
  1. 8
  2. 10
  3. 12
  4. 8 plus 2 hour’s overtime
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38. For the purpose of IRS audits, what type of tax professional is allowed, in addition to an attorney and a CPA) to represent the veterinarian?
  1. Enrolled agent
  2. Public accountant
  3. Bookkeeper
  4. Paralegal
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39. If income and expenses are measured when the transactions occur, regardless of the physical flow of cash, then a hospital is operating on what accounting basis?
  1. Just in time
  2. Accrual
  3. Balanced
  4. Cash
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40. Which of the different types of financial statement would be used for summarizing the revenue and expenses for a specific period of time, such as a month or a year?
  1. Statement of cash flow
  2. Retained earnings statement
  3. Income statement
  4. Balance sheet
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