The _______________ System Is the Process Where a Hospital's Prime

question 32

Multiple Choice

The _______________ system is the process where a hospital's prime suppliers manage product purchasing, storage, delivery, and inventory control of medical/surgical supplies used in the hospital. ______________ systems have the potential to reduce redundant activities in the system, the investment by the hospital in inventory, the storage space required, and the handling functions.

• A) positive inventory / Positive inventory
• B) managed inventory / Managed inventory
• C) just-in-time ordering / JIT
• D) stockless inventory / Stockless inventory
• E) managed ordering / Managed ordering

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Definitions:

Recurring Transactions

Transactions that occur regularly, such as monthly subscriptions or utility payments, which can be automated in accounting software.

Adjusting Entries

Bookkeeping records created at the closure of an accounting cycle to distribute revenues and expenses to the timeframe in which they were genuinely incurred.

Onscreen Journal

A digital ledger within accounting software that displays financial transactions in chronological order.

Depreciation

The method of allocating the cost of a tangible asset over its useful life.