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A Clinic Nurse Is Preparing to Sterilize Instruments Used in Clinic

question 1

Multiple Choice

A clinic nurse is preparing to sterilize instruments used in clinic procedures. The nurse will place the instruments in glutaraldehyde [Cidex-7]. Which actions are necessary when using this product? (Select all that apply.)

Differentiate between fixed and variable expenses.
Recognize the necessity of tracking expenses to effectively manage a budget.
Understand the role of needs versus wants in budgeting and financial planning.
Identify strategies for reducing personal expenses.

Definitions:

Fixed Cost

Expenses that do not change with the level of production or sales over the short term, such as rent, salaries, and insurance.

Period Cost

An expense that is not directly tied to the production process but rather incurred over a specific time period.

High-low Method

A technique used in accounting and finance to estimate variable and fixed costs based on the highest and lowest levels of activity.

Total Fixed Costs

The sum of all costs that do not change with the level of production or sales, over a specified period of time.

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