A Quality Assurance Program ____

question 15

Multiple Choice

A quality assurance program ____.

• A) requires employees to receive training regarding workplace hazards
• B) is designed to monitor the quality of patient care a medical laboratory provides
• C) assumes that all blood, blood products, human tissue, and body fluids are contaminated
• D) contains information about hazardous chemicals or other substances
• E) specifies standards that must be met in order to perform tests in a POL

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Definitions:

Periodic System

An accounting method used for tracking inventory where updates to the inventory account are made periodically, typically at the end of an accounting period.

LIFO Inventory

A method of inventory valuation where the last items to be added to the inventory are the first ones to be used or sold, assuming that the cost of goods sold is based on the most recent prices.

Inventory Balance

The total value of a company's inventory at the end of an accounting period, including raw materials, work-in-progress, and finished goods.

Perpetual Inventory System

A Perpetual Inventory System continuously updates inventory records and cost of goods sold every time a transaction occurs, providing real-time inventory information.