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The nurse explains that the Minimum Data Set (MDS) 3.0 used in extended-care facilities is designed to
Inventory
The raw materials, work-in-progress goods, and finished products that a business holds for the purpose of sale in the ordinary course of business.
Single-Step Income Statement
A simplified income statement that calculates net income or loss by subtracting total expenses from total revenues in one step.
Multiple-Step
An income statement format that segregates operating revenues and expenses from non-operating revenues, expenses, gains, and losses.
Revenues
Revenue that comes from regular business activities, factoring in discounts and allowances for products that are returned.
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