Which of the Following Is an Example of Good Documentation

question 51

Multiple Choice

Which of the following is an example of good documentation?

• A) Vital information is kept secret between you and your partner.
• B) You use as many abbreviations as possible.
• C) It is done prior to patient care.
• D) It is thorough.

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Definitions:

Average Cost

This refers to the cost of producing a good or service, calculated by dividing the total costs of production by the number of units produced.

Lower Of Cost

An accounting principle that values inventory at the lower of its historical cost or the current market value, to record losses in value.

FIFO

First In, First Out; an inventory valuation method where the first items placed in inventory are the first to be removed or sold.

Market Value

The current price at which an asset or service can be bought or sold in a marketplace.