This Type of Testing Is Approved by the Clinical Laboratory

question 2

Multiple Choice

This type of testing is approved by the Clinical Laboratory Improvements Amendment of 1988 (CLIA '88) to be performed by the phlebotomist.

• A) Waived testing
• B) Moderate-complexity testing
• C) High-complexity testing

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Definitions:

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, but not control those policies; often evidenced by ownership of 20% to 50% of the voting shares of the investee.

Fair Value

The revenue generated from selling an asset or the charge for relocating a liability in a formal trade between market counterparts at the appraisal time.

Journal Entries

Records that note the details of financial transactions in accounting, following the double-entry bookkeeping method.

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, but not control them, often associated with ownership of 20% to 50% of voting stock.