A Nursing Student Is Doing a Survey of Fellow Nursing

question 6

Multiple Choice

A nursing student is doing a survey of fellow nursing students.Which ethical concept is the student following when calculating the risk-to-benefit ratio and concluding that no harmful effects were associated with a survey?

• A) Beneficence
• B) Human dignity
• C) Justice
• D) Human rights

Understand the significance of physical inventory counts and the inclusion/exclusion of specific items.

Estimate inventory cost using the retail method.

Estimate inventory cost using the gross profit method.

Distinguish between FOB shipping point and FOB destination and its impact on inventory valuation.

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Definitions:

Net Realizable Value

The estimated selling price of goods, minus the costs of their completion and the costs necessary to make the sale.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services rendered on credit.

Allowance for Doubtful Accounts

An estimation of the amount of accounts receivable that is not expected to be collected.

Subsidiary Ledger

A ledger that contains accounts of a single type. Example: The accounts receivable subsidiary ledger records all credit customers.