The Joint Commission (TJC) and the ______________ (ISMP) Are Two

question 92

Short Answer

The Joint Commission (TJC) and the ______________ (ISMP) are two organizations whose mission includes promotion of patient safety by publishing the official "Do Not Use" list of abbreviations in an effort to reduce medical errors.

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Definitions:

Cost Of Goods Sold

The immediate expenses directly related to creating a company's sold products, covering both labor and materials costs.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, after all sales and purchases have been accounted for.

Accounting Period

A specific time frame for which financial statements are prepared, to measure the performance and financial position of a business.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue, indicating the company's financial performance over a specific period.