Am I ready?

As the fourth year of medicine comes to a close, I cannot help but feel woefully unprepared for the practice of medicine. A lab mate tripped and fell on the escalators. At first I pretty much ignored his injuries - the mechanism of the fall didn't sound serious at all. The other first year medical student in our lab started to do all sorts of things to the wound. Finally I spoke up and suggested that they use gauze as opposed to bandages being a much more efficient manner to cover a large area without too much adhesive (perhaps the most painful component of small cuts/bruises). It was at this point that I noticed his cut appeared rather deep. It looked like a 3-4cm long laceration about 5mm deep with separated edges about 5-7mm apart when he flexed his knees along the patellar region. I thought stitches might help close up the wound and help it heal faster. I accompanied my friend down to the emergency room - tried to "fast track" him but was turned down and had to go through the entire registration process. Finally we arrived back where we started and the resident came in to examine the wound. He took a look at it, manipulated it somewhat, and then said there's nothing to stitch, all the needed was a bandage and he's done. I felt like an idiot - here I am, 4th year, about to graduate, and I cannot distinguish between a serious wound and one that merely needs a dressing?! I think I was mislead by the appearance of the wound, and that further manipulation would have (hopefully) suggested to me the same course of action - bandage and leave it alone. Nevertheless, it does make me wonder whether or not I have what it takes to become a true practicing physician.