Based Upon the Study Guide/PowerPoints, Data Serves as the Very

question 15

True/False

Based upon the Study Guide/PowerPoints, data serves as the very foundation of the field of health and healthcare disparities. Thus, one must learn how to analyze data so that it can "give up" its secrets.

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Definitions:

Supplies Expense

An account that tracks the cost of consumable items used during an accounting period.

Physical Count

The process of manually counting actual inventory items to verify the quantities on hand and adjust the account balances accordingly.

Accounting Period

A specific period of time for which financial statements are prepared to report the financial performance and position of a company; often quarterly or annually.

Adjusting Entries

Journal entries made at the end of an accounting period to adjust the income and expenditure records for accuracies in financial reporting.