One Change That Occurred Under the FDA for Oversight of Biologics

question 18

Multiple Choice

One change that occurred under the FDA for oversight of biologics was that the FD&C Act now labeled biologics as:

• A) blood products.
• B) drugs.
• C) reagents.
• D) growth factors.

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Definitions:

Allocated

The process of assigning or distributing resources, costs, or revenues to various accounts or cost centers based on a specific criterion or formula.

Accrued Expense

An accounting term for expenses that have been incurred but not yet paid, recorded on the books to reflect true financial position.

Salary Owed

The amount of payment due to employees for services rendered that has not yet been paid.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated as depreciation expense over the asset's useful life, reducing its book value on the balance sheet.