Organization of Practice Flashcards

Question

Value Proposition

Answer 1

Description of the value that a product, service, or process will provide to the pet owner, hospital, and staff.

Answer 2

A management process tool that assists in identifying and targeting measurable performance goals in operational quadrants; client perspective, patient perspective, learning and growth perspective and financial perspective.

Answer 3

Operations such as record-keeping or maintenance in an organization, or a computer that make work possible does not directly constitute its performance.

Answer 4

Having a process by which your organization identifies and understands the risks to which you are exposed when it comes to human resources activities. It also means having deliberately evaluated the risks and have strategy in place to remove the risk altogether, reduce the likelihood of the risk happening or minimize harm in the event that something happens.

Answer 5

An individual or group with an interest in a particular business; the individual or group usually has something at risk.

Answer 6

Statements of what a practice believes in and recommends for its patients.

Answer 7

A plan or action to achieve a specific end, typically within a long time frame (usually more than a year). Often times strategies are achieved utilizing various tactics to achieve various aspects of the overall strategy.

Answer 8

A tool used that analyzes the practice's strengths, weaknesses, opportunities and threats when making a plan.

Answer 9

A systematic method used when writing out medical records that includes: Subjective, objective, assessment, and plan for patient care.

Answer 10

A plan or action to achieve a specific end, typically within a short time frame (usually less than a year, but occasionally spanning a few years).

Answer 11

Specific, Measurable, Attainable, Relevant, and Time-bound. Useful acronym to remember when establishing inspiration objectives for the practice team

Answer 12

Programs or applications that run on computers

Answer 13

Patient medications or food that is ordered by a client, typically because it is not kept in stock on a regular basis.

Answer 14

A secure login page utilizes a Secure Sockets Layer (SSL) to encrypt the user name and password before passing them to the mail server so that anything that might be intercepted are in an encrypted format that will be unreadable.

Answer 15

A set of administrative, physical, and technical actions to protect the confidentiality, availability and integrity o information or data.

Answer 16

Assistance for technical problems with electronic devices or computer software applications. The technical support team is composed of individuals that are familiar with the ins and outs of a device and/or software application.

Answer 17

The physical equipment used in a computer system.

Answer 18

Systematic allocation of the cost of a tangible asset over time.

Answer 19

Strategies and procedures put in place to protect confidential data from unauthorized access.

Answer 20

A system (hardware, software or a combination) on your local intranet network that is designed to prevent unauthorized access to or from the network.

Answer 21

Ratios used to analyze how well a company uses its assets and liabilities internally.

Answer 22

Inventory that has reached the end of its useful life, and cannot be sold as a finished good.

Answer 23

A computer where the central processing unit (CPU) sits either on the desk or under it; not considered portable.

Answer 24

A clause or a statement that tries to prevent the creation of a warranty or contract.

Answer 25

The identification, assessment, and prioritization of financial risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability of said risk.

Answer 26

The most economical quantity of a product to order, factoring in both holding and operation costs.

Answer 27

A figure on the income statement that reflects the cost of products sold to consumers in the primary business activity of the practice

Answer 28

Any drug or therapeutic agent commonly understood to include narcotics, with a potential for abuse or addiction, which is held under strict government control, as delineated by the Comprehensive Drug Abuse Prevention & Control Act passed in 1970.

Answer 29

A form signed by a client prior to a medical procedure to confirm that he or she agrees to the procedure and is aware of any risks that might be involved.

Answer 30

A veterinarian that uses healing practices and products that work in conjunction with traditional medicine.

Answer 31

A standard for the short-range wireless interconnection of cellular phones, computers, and other electronic devices.

Answer 32

A good that is unfit or reduced in value for it's intended use due to damage of some sort.

Answer 33

A healthcare service provider that support the work of a primary physician.

Answer 34

The process of identification, analysis and either acceptance or mitigation of uncertainty in client decision-making

Answer 35

An electronic gateway to a collection of digital files, services, and information accessible over the Internet through a web browser.

Answer 36

Property of any kind held by an assessee, whether connected with their business or profession or not connected with their business or profession. It includes all kinds of property, movable or immovable, tangible or intangible, fixed or circulating.

Answer 37

Total number of inventory units currently in stock

Answer 38

Generally defined as the risk of having the 'license to operate' withdrawn by a regulator, or having conditions applied (retrospectively or prospectively) that adversely impact the economic value of the practice.

Answer 39

A defined time frame that a product or service is guaranteed.

Answer 40

A form that is signed by the owner/agent of a pet stating that they decline to accept the veterinarian's recommendations or advice

Answer 41

The act of purchasing goods in multiple units or in large quantities, usually with a financial incentive for doing so.

Answer 42

A strategic planning process designed to evaluate veterinary practices.

Answer 43

Insurance that protects the company and/or business owner in the event of a formal lawsuit or other third party claim.

Answer 44

The procedure for making extra copies of data in case the original is lost or damaged.

Answer 45

An order placed for a product that is temporarily out of stock

Answer 46

A means by which an owner is assisted in coping with the loss of their pet.

Answer 47

Documents used to ensure that tasks have been completed in a specific manner.

Answer 48

A guarantee that a manufacturer or similar part makes regarding the condition of its product.

Answer 49

A veterinary medical record model designed to organize patient information by the presenting problem. The record includes the patient database, problem list, plan of care, and progress notes in an accessible format.

Answer 50

A store where medicinal drugs are dispensed and sold.

Answer 51

The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain a secure environment.

Answer 52

A framework using four factors to help scan the external macro-environment in which the practice operates: Political, Economic, Sociocultural and Technological.

Answer 53

To put into effect. Strategic Planning can only succeed with the implementation of the plan.

Answer 54

The principle by which the oldest inventory items are recorded as sold first, but do not necessarily mean that the exact oldest physical object has been tracked and sold.

Answer 55

\> Increased dollars are spent on products \> Products sit on the shelf and have a decreased turnover rate \> Products expire and the practice loses money \> Team members need additional training to remember the functions of each product. \> Client communication and recommendations suffer because specific recommendations are not being made, ultimately decreasing client compliance

Answer 56

_Beginning inventory + Ending inventory_ 2

Answer 57

12 times per year

Answer 58

1. Average Daily Use 2. Turnover Goals 3. Product Expiration

Answer 59

_Total units of product purchased during measured period_ Average inventory

Answer 60

Average daily use x Turnover goal (in days)

Answer 61

Lead time x Average Daily Use

Answer 62

* Quantity is based off of historical sales, within the period being measured * The quantity ordered must sell before the delayed billing is due * Product cannot have a short shelf life * Consider year-end tax implications (cash versus accrual reporting)

Answer 63

Average daily use x # of working days in billing period x % of growth

Answer 64

Human resource-related and basically account for all time spent preparing and maintaining an order.

Answer 65

The price a practice would pay to replace an item.

Answer 66

facility related and account for approximately 8% to 15% of the unit cost.

Answer 67

The costs associated with paying veterinarians when they are compensated by the production method.

Answer 68

* Determining reorder quantity and reorder points * Price Shopping * Visting with sales representatives * requesting an order * researching items to replace back orders * receiving and unpacking products and supplies * entering invoices into veterinary software * reconciling statements

Answer 69

* Property tax paid on inventory value * Insurance * Utilities to maintain safety of product * Shrinkage * Pharmacy licensing/DEA fees * OSHA training and maintenance

Answer 70

Unit Cost + Hard Cost + Soft Cost + (Profit x sales price)

Answer 71

* Shrinkage - the loss of product inventory * Missed charges - items are not put in and charged out, but are sent home with a client * Incorrectly invoiced products - may either enter the wrong product into the computer system, or pull the wrong product to send home with the client. * Medical supplies * Free doses * In-House Use - Items used in house but not logged out of inventory

Answer 72

1. Use a travel sheet 2. appropriately set fees 3. Have a structured inventory system 4. Ensure team member accountability

Answer 73

The process whereby the need to maintain sufficient inventory to meet hospital operating demands is weighed against the monetary cost of carrying inventory.

Answer 74

Approximately 25 to 35 percent of the total true cost.

Answer 75

1. Control functions 2. Forecasting functions 3. Purchasing functions 4. Selling Functions

Answer 76

* Control-Card system * Red-Tag System

Answer 77

* Item * Suppliers * Quantity * Reorder Point * Invoice Costs * Storage Location * Price to client

Answer 78

A document issued by the practice to vendors to request the delivery of materials, including supplies, any other item to be placed in inventory, equipment, and the like.

Answer 79

A perpetual inventory system

Answer 80

* Understand the system * Assess the Risks * Evaluate the Labor Costs * Inform Staff

Answer 81

A profit based management system that prioritizes inventory based on value and importance.

Answer 82

* 20 percent of the items account for about 80 percent of the sales revenues * 80 percent of the inventory cost exists in 20 percent of the inventory * 80 percent of profit can be predicted to come from 20 percent of products sold

Answer 83

A method of sorting inventory into manageable components based on cost and relative value.

Answer 84

The 20 percent of SKUs that account for about 80 percent of the Annual Usage Value.

Answer 85

The next 30 percent after class A. These items account for about 15 percent of the Annual Usage Value.

Answer 86

The remaining 50 percent of items that account for the remaining 5% of the Annual Usage Value * Lowest priority * Simplest possible control * weight cost-benefit relationship of micromanagement and stock savings * consider ordering larger quantities with bigger safety stock margins and stock savings.

Answer 87

* Controlled substances * Highest risk / highest priority * Tightest controls * Frequent review and inspection by a responsible doctor or chief of staff

Answer 88

The inventory amount of an item that is expected to be used up between the point of order receipt and the time another order must be placed.

Answer 89

The time between the point of order and when the shipment will be received.

Answer 90

The time at which the purchasing manager should place a restock order with the vendor because supplies have fallen to a specified level. Reorder point is determined by the SKU quantity that will meet predicted normal operating needs until the restock supplies arrive on the premises plus the selected emergency stock quantity.

Answer 91

A desired inventory cushion, in excess of lead-time quantity, to help mitigate the event of a stock outage if the shipment was delayed or if the item was placed on backorder.

Answer 92

365 ÷ annual inventory turnover rate

Answer 93

1. The time needed for delivery 2. The rate of inventory usage 3. The safety stock level 4. The effect of special manufacturer and vendor offerings

Answer 94

Manufacturing problems and regulatory issues

Answer 95

The optimum order quantity by determining the point at which inventory ordering and holding costs are minimized

Answer 96

``` A = Annual demand in Units F = Fixed ordering costs incurred per order H = Holding costs expressed on an annual basis as a percentage of unit cost UC = Unit cost to purchase from vendor or supplier ```

Answer 97

The sale occurs at the vendor's shipping dock, when the merchandise is loaded on the carrier.

Answer 98

The title of ownership passes when the merchandise is delivered to the buyer (in this case, when the carrier unloads the shipment at the veterinary practice.)

Answer 99

The act of obtaining or buying goods.

Answer 100

The relationship between the product availability and the desire/need of consumers to purchase it.

Answer 101

The period when goods can be stored and remain in optimum condition (before expiration) and suitable for sale or use.

Answer 102

An amount added to a cost price in calculating a selling price, usually expressed in a percentage

Answer 103

The difference between total sales and the cost of those sales, expressed as either a percentage or dollar amount

Answer 104

The responsibilities of an inventory manager include the separate roles listed below as well as supervising and overseeing others who perform those roles. The role of inventory manager may be a role that is played by the hospital manager, or it may be a role played by someone else and overseen by the hospital manager. * Inventory Researcher * Inventory Purchaser * Department Lead * Inventory Receiver * Inventory Documenter and Tracker * Inventory Counter * Bookkeeper

Answer 105

The responsibilities of an inventory researcher include evaluating and selecting suppliers and products. Product selection criteria is also the responsibility of the inventory researcher and may include the following: * Evaluate products from three aspects: medical efficacy, patient or condition need, client compliance factors * Compare similar products and product lines * Choose which products will be stocked in the practice * Choose which products will be available for online purchases * Create and follow product addition guidelines to ensure overstock and product duplication is minimized.

Answer 106

Identifies product purchase needs and places orders for those needs through the pre-chose suppliers chosen by the researcher. This is also known as procurement. The inventory purchaser may rely upon area leads from each department within the practice to provide product purchase needs.

Answer 107

Takes responsibility for identifying product needs in a particular department, like surgery, treatment, kennel, etc. and communicates those needs to the inventory purchaser. There may be several area leads depending on the number of departments within the practice. Assigning department leads alleviates a heavy burden from the inventory manager while elevating the people who typically work within each department who ave a keen understanding of the products they use/sell and the rate at which they typically are used/sold.

Answer 108

An inventory receiver is someone who has been trained to unpack, account for, and stock inventory as it is delivered to the practice. There should be enough people trained to handle this role so that shipments coming in on any day at any time can be properly stored and secured.

Answer 109

The movement of inventory must be documented. And while inventory sales are easily documented in the inventory management software, other movements are not as easily documented and may require tracking systems and manual entries. The inventory documented and tracker role is important in that it documents the receipt of inventory, transfers of inventory, hospital use, shrinkage, etc. so that inventory reports in the practice management software remain accurate and up to date.

Answer 110

Counting inventory is part of inventory management and is a critical function for the inventory documented and tracker. All employees, at one time or another, will likely be asked to count inventory. Inventory counting ensures levels on hand match levels documented in the practice management software, and where discrepancies are found, research is done and protocols are updated to correct the issue.

Answer 111

* Free goods were received as part of a purchase * Bulk purchasing decreased the per unit cost * Pricing lists from vendors are updated * Product discontinuation or back orders force consideration of a different product.

Answer 112

* On-hand quantities do not match computer quantities * Products are somewhere in the practice, but cannot be found * Stock-outs are a common occurrence * Products received aren't entered into the software. There may be stacks of invoices waiting to be entered. * Product duplication is common * Low product turnover * High cost-of-goods expenses

Answer 113

1. Print code lists. The list needs to be clean. Deletions or inactivations should be made. Reclassifications should be made so that items are classified correctly. Duplicates should be consolidated. Check the medical supplies and consumables that are entered into the software. 2. Reprint the list and double and even triple-check the classifications, drug names, code duplciations, etc. 3. Create a list of UNCONSOLIDATED areas where duplicate or similar products exist. Ask the veterinarians in the practice which ones can be paired down. 4. Count inventory. These should be conducted when the inventory is not in motion. And the on-hand totals should be corrected as soon as possible. 5. Enter/Receive inventory. Going forward, all inventory received from vendors must be entered into the software as it enters the practice.

Answer 114

1. Needs Assessment 2. Procurement 3. Receiving 4. Protection 5. Sell/Use

Answer 115

* Business Practices * Representative Qualities * Practice strategies and needs

Answer 116

* Segregation of inventory management duties * Storage solutions * Counting Inventory * Staff Pet Solutions

Answer 117

1 to 4% variance

Answer 118

DEA Form 224

Answer 119

DEA Form 223

Answer 120

Every 3 years. DEA Form 224a

Answer 121

1. Project Revenue. 2. Project COG expenses 3. Project COG subsection expenses 4. Share the budget and communicate expectations with anyone involved with inventory management.

Answer 122

Products purchased for resale to clients

Answer 123

items used in the course of providing veterinary medical and surgical services.

Answer 124

Receiving a product just as needed versus storing the product. Can lower holding costs, and usually have no expired products, but causes higher ordering costs with a higher risk of stock outs and backorders.

Answer 125

* The Inventory Roles are filled and responsibilities defined and training performed. * Products are available to treat patients when needed and clients can conveniently obtain refills * Quantities are controlled to minimize expenses * Accurate inventory reports are available * Regular evaluation of preferred pharmaceuticals and supplies to avoid redundancy, streamline storage, ordering and training. * Employees can efficiently order, stock, and dispense needed items. * Controlled drugs are properly maintained * Security, systems, and safeguards exist to ensure proper use. * Employees are well versed in communicating the value of products dispensed at the practice and can also confidently field client inquiries regarding online pharmacies or big box stores. * Fees are adjusted regularly and profit margins are set and accomplished.

Answer 126

* Too much product on the shelf * Not enough product on the shelf to meet needs of clients or patients * Frequent ordering * Shrinkage * Theft * Back orders * Expired product * Incorrect products ordered or received * High cost of overnight or rush shipment for products needed asap. * Shipping costs associated with smaller orders.

Answer 127

* Imaging * Laboratory (in house) * Flea/Tick/Heartworm prevention * Retail/OTC * Diets * Drugs and medical supplies (can be further broken down)

Answer 128

preparing and distributing written policies and procedures, creating and maintaining security and safety protocol, and regular monitoring of the system via counts and accountability. Needs to be flexible to change.

Answer 129

One that can provide an accurate idea of inventory quantities at any time. When items are received they are immediately added to the inventory records and when items are used or sold they are removed from the inventory records.

Answer 130

Uses data from manual product counts at the end of every financial period.

Answer 131

All measures, systems, and protocols used to prevent errors, waste, and fraud.

Answer 132

The inventory system should include the ability to signal when an item needs to be reordered to avoid an outage.

Answer 133

The elements of an inventory system that includes purchasing details: * How, where, and when each item is ordered * How to avoid ancillary charges * track back-orders * Identifies seasonal usage * Identifies upcoming expiration dates * Invoices match requested and received products. * Allows for immediate assessment of increased cost from the vendor in order to pass that increase along to clients.

Answer 134

The elements of an inventory system that deal with profit. * Price setting * Tracking profit margin * Compare inventory and supply expense to revenue generated * Gross Profit is the difference between the price of a product to the client and the total cost of that product to the practice.

Answer 135

* Item details * Supplier details * Quantity * Re-order point * Invoice costs * Storage * Price to client

Answer 136

Operating Demands

Answer 137

25% to 35%

Answer 138

The difference between the price of a product to the client and the cost of that product to the practice.

Answer 139

Reduce theft and waste, and better organization and tracking of products.

Answer 140

1. Create a spreadsheet and calculate Annual Usage Volume. 2. Then calculate cumulative Annual Usage Volume. 3. Then calculate the Cumulative Percentage of Annual Usage Volume. 4. Then calculate the Annual Usage Distribution. 5. Group items into classes A, B, C.

Answer 141

Average Inventory on Hand (AI)

Answer 142

Economic Order Quantity (EOQ)

Answer 143

Margin Pricing Method

Answer 144

Drugs used to treat chronic conditions.

Answer 145

False. Clients do not have a complete understanding or appreciation of the costs associated with dispensing medications.

Answer 146

1. Benefits – low holding costs, no expired product. 2. Disadvantages – high ordering costs, stock outs and back orders.

Answer 147

Zoning and Central Supply

Answer 148

* Equipment name * Manufacturer * Model/serial number * Purchase date, amount paid and purchase location.

Answer 149

500 invoices to break even

Answer 150

d. $335.62

Answer 151

b. Prioritizing inventory time investment. Since 20% of our products bring in 80% of our product revenue, we should concentrate the lion's share of our efforts on that top 20%

Answer 152

a. Monthly

Answer 153

a. The Inventory Receiver c. The Inventory Documenter and Tracker

Answer 154

All answers are correct. 1. Significantly increased the amount of eligible property that can be written off in the first year. 2. Gave an additional deduction of 50% of the remaining balance of the equipment purchased that is above the $139,000. 3. The remainder of the purchases can also be depreciated on a straight line depreciation schedule.

Answer 155

c. Yes, if it is in useable condition.

Answer 156

Volume used in a year x Average cost

Answer 157

* Product * Use/treatment regiment * Species Use * Typical Dosages * Contraindications

Answer 158

* Consolidation of existing inventory to a tight manageable supply that increases profitability and decreases product on the shelf. * Creation of a physical inventory map * Reorganization of the practice management databse.

Answer 159

* Delayed billing * Quantity discounts may be beneficial if the product is salable and if the storage costs do not neutralize the savings * Do not take discounts, bulk prices, or delayed billing into account when pricing products for client sale. * If holding costs and risk of shrinkage is high and inventory turns are low on a specific product, it may make more financial sense to offer that product on an online pharmacy or other suppliers * Make sure short dated stock is identified and sold first or returned * Price increases should be passed onto clients immediately.

Answer 160

Fees added after the markup has been determined. These fees cover the staff time used in counting, preparing, packaging, labeling and the supplies involved in doing so.

Answer 161

Applied to products sold in the original container that do not require a team member to count. These fees cover staff time to prepare and label the supplies.

Answer 162

Product Cost + Markup + Dispensing Fee

Answer 163

Product Cost + Hidden Costs + Profit + DVM Pay

Answer 164

Total product cost + 50% profit + 15% DVM Pay

Answer 165

Total Product Cost + 20% Profit + 10% DVM Pay

Answer 166

Product Costs + Labor Costs + 30% Profit

Answer 167

An analysis that is used to determine when your business will be able to cover all of its expenses and begin to make profit.

Answer 168

The amount of revenue that covers all fixed and variable costs, without generating either profit or loss.

Answer 169

* Return to vendor if possible * Dissolve expired tablets in wafter, add to cat litter and dispose of in trash (injectable drugs treated the same)

Answer 170

1. Is the equipment new to the practice or replacing existing equipment? If it is a replacement, what benefits does it have over the existing equipment? 2. How will the equipment be paid for: cash, lease, finance? 3. What will the client be charged, and where is the break-even? 4. Cash is typically the smartest, most economical way to purchase. 5. Perform a break even analysis prior to purchase

Answer 171

* What is the interest rate and terms of the loan, and is it the best you can find? * Develop cash flow projections of revenue and expenses, including a reasonable payback plan * Equipment loan lengths should not exceed the expected lifespan of the equipment (normally 5 to 7 years) * Credit lines are not recommended for equipment purchases since they often must be paid back within 12 months. Credi lines are best left for emergency withdrawals if needed.

Answer 172

* Cash flow of the project purchase * Credit history of the business or owners (owners will often need to co-sign the loan to the business) * Collateral

Answer 173

* Thoroughly research different equipment * Interest is often higher for leases than loans * Balloon payments can be necessary at the end of the lease in order to keep the equipment * The option of returning the equipment at the end of the lease may leave the practice without needed equipment * If a piece of equipment has a short life span before it is obsolete, leasing may be a wise strategic option. * Lease payments may be 100% deductible on income tax returns

Answer 174

Total revenue over a period of time divided by the total number of transactions during that same period; this represents the average amount spend by clients each time they visit the practice. (Average transaction charge)

Answer 175

Key metrics (financial and operational) used to measure performance of an organization.

Answer 176

The software system used by the practice for client invoicing, medical records, inventory, metric analysis, tracking of accounts receivable, and other revenue-related activities.

Answer 177

2.5 to 5.0%

Answer 178

By dividing a particular revenue or expense amount by total gross revenue.

Answer 179

Revenue = Number of transactions x ATC Total practice revenue divided by the number of full-time-equivalent doctors of veterinary medicine helps evaluate the productivity of the practice as a whole.

Answer 180

Doctor Revenue = Number of doctor transactions x Doctor ATC Includes revenue for all medical and surgical services Does not include revenue for ancillary services (boarding, grooming, OTC product sales) Usually 85 to 90% of total practice revenue Total doctor revenue divided by the number of full-time-equivalent veterinarians helps evaluate medical productivity of the practice.

Answer 181

* Fee increases * Change in transactions (number of clients or number of visits per client) * Change in recommendations made to and accepted by clients * Change in support staff (number, competency) * Equipment additions * Change sin the demographics of pet owners visiting the practice * Range and mix of services * Changes in economy * Discounts and missed charges * Efficiency

Answer 182

* Cost of providing services * Perception of value * Similar products should be priced at similar amounts unless there is a value component that will differentiate them.

Answer 183

Actual value is obtained from real performance. Actual values are either current for the time period being studied, or they may be historical from an earlier time period.

Answer 184

Typically, a synonym for profit, referring to the bottom line in financial statements that indicates net profit or loss.

Answer 185

Historically, people described budget variances as "under budget" or "over budget". These characterizations created confusion because sometimes being under budget was a good thing sometimes it was a bad thing. In lie of these characterizations, the term favorable should be used. A favorable results is always a desirable result.

Answer 186

The most common budget format encompasses a 12-month period of operations. Operating budgets typically include those items found on a profit-and-loss statement, bu not usually items found on a balance sheet or cash-flow-statement

Answer 187

Projected value is your best guess for anticipated future performance. For example, if last year the practice generated $1000 and the next year it expects to generate $1,100 the practice's projected value is $1,100.

Answer 188

An unfavorable result is always an undesirable result. For example, if the practice projected $1,000 in revenue and only produced $900, the result is a $100 unfavorable variance.

Answer 189

Variance is the difference between the projected value and the actual value for each line item in the budget. For example, if the practice's projected value for the current year was $1,100 and the actual value generated is $1,150, the variance is $50

Answer 190

Typically a synonym for revenue, income (or turnover in some countries), referring to the top line in financial statements that indicates income received by the business.

Answer 191

* Display space and location * Appropriate markups * Marketing and sales training of support staff * Use of point-of-purchase sales material, signs, and so on.

Answer 192

1. Establish circumstances under which the test will be recommended to clients. 2. Develop a protocol for recommending the test to clients. 3. Introduce protocols at staff meetings, and review the benefits associated with the test and its implementation 4. Implement the program and measure its success. Review results with staff at your next staff meeting.

Answer 193

Systematic listing of all categories used to group payments in a practice's accounting system.

Answer 194

Group of direct costs associated with producing a product or service; in veterinary medicine, these costs generally include drugs and medical supply expense, laboratory expense, dietary product expense, and other similar items. Employee labor costs are not included here.

Answer 195

Ensure that the person paying the bills understands the categories to which expenses should be assigned, and consistently puts expenses in the appropriate categoreis.

Answer 196

Cost of professional services (direct costs of patient care and product retailing, like drugs and professional supplies and laboratory fees) and general and administrative (G&A) expenses.

Answer 197

Accounting method that recognizes income when it is earned and expenses when they are incurred, regardless of when cash is received or disbursed. The accrual method in its purest form provides a very close matching of assets consumed (G&A costs expended) with revenue generated for the period of time under consideration.

Answer 198

A cost that has utility over more than one accounting period; for example, a computer printer

Answer 199

A cost incurred to support a variety of practice activities and objectives, but cannot be traced to them individually. For example,the salary cost of a veterinarian or technician is a common cost to all of the clients seen and patients treated, but in most cases cannot be purely attributed and allocated to specific patients.

Answer 200

An exchange price at an acquisition date to obtain a present or future benefit

Answer 201

An expense (cost) that becomes an integral part of a specific patient's care or client sale, that can be physically and conveniently traced to it.

Answer 202

A measured outflow of services and/or goods, matched to the revenue generated for that outflow.

Answer 203

An expense (cost) that remains relatively constant in dollar amount within a relative range of practice activity; for example, real estate tax expense.

Answer 204

All executive, organizational, and clerical expenses associated with the general management and operation of a practice, rather than with delivery of patient care, ancillary services such as pet boarding and grooming, or product/pharmacy sales.

Answer 205

A method of accounting for income and expenses in accord with US tax laws, which, in general, results in the reporting of revenues as payment is received from clients and o expenses as the practice makes payment to outside parties.

Answer 206

Increases in owner's equity resulting from veterinary professional activities and sales entered into for the purpose of earning income.

Answer 207

An expense (cost) that increases or decreases as a dollar amount in direct relation with the volume of practice activity; for example, office supply expense.

Answer 208

Variable expenses associated with revnue

Answer 209

Also known as "fixed expenses." These expenses are less likely to go up and down directly related to sales.

Answer 210

Compensation paid to owner, associate, and relief veterinarians. In the case of owner compensation, it includes any monies received out of the practice due to ownership, whether they are from veterinary salary, owner bonuses, return on investment, management fees, or division of profits.

Answer 211

All sales of the practice for goods and services.

Answer 212

Variable expenses vary with the amount of business being conducted.

Answer 213

A different hourly wage for working remotely compared with working in the hospital. Some practices pay the same rate, others pay less (believing that remote work is an employee convenience), and others pay more to offset the employee's office expesne.

Answer 214

All costs associated with maintaining inventory on the premises

Answer 215

Receiving product as it is needed, rather than storing product as inventory

Answer 216

Costs associated with employee time used for shopping, ordering, receiving, and documenting purchased products.

Answer 217

Inventory remaining past the reorder point.

Answer 218

The costs of not maintaining sufficient inventory so that the sale is lost when consumers go elsewhere.

Answer 219

The loss of product from inventory not resulting from sale; this includes product lost to employee theft, shoplifting, administrative and paperwork errors, and vendor errors/issues

Answer 220

8 to 12 times each year, such that product is not sitting on the shelf for more than 30 to 45 days (Keep in mind that your hospital's A products will more more and have more turns that your B and C products)

Answer 221

Money owed to a practice for services rendered or products sold that is not paid at the time of service or wen the product is dispensed.

Answer 222

1% or less

Answer 223

Product that is interchangeable with another product of the same type. The price is a function of supply and demand.

Answer 224

Summary of covered services, benefit limitations, and applicable co-payments provided in an insurance policy

Answer 225

System of health insurance in which the insurance carrier reimburses the insured individual fo medical expenses after care has been provided.

Answer 226

Healthcare system under which healthcare professionals are organized into a group or "network" to manage the cost, quality, and access to healthcare.

Answer 227

As early as possible (typically when pets are around 8 weeks old)

Answer 228

An aspect of a business that leads to change in other aspects of a business, usually in a positive fashion.

Answer 229

To help pet owners to be able to afford the care their pets need and allowing veterinarians to focus on the delivery of excellent healthcare with minimal involvement in financing.

Answer 230

Physical devices containing hardware, software, and sensors that are connected to a network, enabling these objects to connect and exchange data.

Answer 231

A digital ledger in which transactions for cryptocurrencies are recorded publicly and chronologically.

Answer 232

A risk management strategy used in limiting or offsetting the probability of loss from fluctuations in the process of cryptocurrencies. Hedging employs various techniques, but it basically involves instantly exchanging cryptocurrencies into the preferred currency used.

Answer 233

Cryptocurrencies are made through a very interesting self-limiting system called cryptocurrency mining, and the people who mine these coins are called miners. This involves commanding a computer, or a network of computers, to work around the clock to solve "proof-of-work" problems.

Answer 234

False, you should always make appropriate medical recommendations for the pet regardless of the client's financial situation. Never assume a client does not desire or have the ability to pay for services.

Answer 235

The simple answer is no one. To maintain the financial health of the practice, veterinary services should be paid for at the time of service.

Answer 236

* Coupons * Bundled Services * Reduced fees on service * Free services or products * Matching Prices

Answer 237

Systematic allocation of the cost of an intangible asset over time

Answer 238

The amount of time necessary between the capital expenditure and the complete recovery in cash (net after expenses) of the amount invested.

Answer 239

Systematic allocation of the cost of tangible asset over time.

Answer 240

The change in the practice's NCF attributable to the capital investment.

Answer 241

The proposed capital investment using the present value concepts to compute the rate of return from the NCFs expected from the investment.

Answer 242

Includes both historical and estimated data that management can use to conduct daily operations, planning future acquisitions, and developing business strategies.

Answer 243

Revenues less expenses plus noncash expenditures (depreciation and amortization expenses)

Answer 244

The value of an investment calculated by comparing the initial cash outlay with the present value of the future NCFs by using a management-determined interest rate of return

Answer 245

Amount of income foregone from an alternative to a proposed use of cash or its equivalent

Answer 246

An election to expense up to a certain dollar value of qualifying property in the year o acquisition. Qualifying property generally is tangible personal property acquired by purchase for use in the active conduct of a trade or business. A 50% first-year special depreciation allowance was instituted with the 2003 Tax Act. If you acquire depreciable property with a recovery period fo 20 years or less, you may be able to claim an additional 50% first-year depreciation allowance.

Answer 247

Approximately 1% of the gross revenue for the year

Answer 248

_Purchase Price_ NCF (Net Cash Flow)

Answer 249

The higher the ARR the more desirable the asset.

Answer 250

Average Investment = _Cost of Asset_ 2 ARR = _(_Estimate Average Annual Income ÷ Average Investment) x 100

Answer 251

Uses the terms of a loan to provide due dates of payments, and the payment amount detailed by the principal and interest expense portions.

Answer 252

Large lump-sum payment scheduled at the end of a series of considerably smaller periodic payments.

Answer 253

Lease that includes contract provisions that result in treating the leased asset as a purchased asset in the accounts.

Answer 254

Individual who is not the borrower but who has equal and immediate liability to pay the loan in accord with its terms in the event the primary borrower does not. Generally required of a borrower who has inadequate financial strength to qualify for a loan. The lender evaluates the cosigner's credit rating, financial statements, and income in combination with those of the primary borrower to document a stronger debt-to-income ratio that enables loan qualification. Somewhat more risky than functioning as a guarantor.

Answer 255

Similar to a cosigner, an individual who guarantees an obligation and has a legal duty to fulfill it. Common in commercial loans where the primary borrower is the business entity and shareholder or owner personally backs the loan. Unlike the case of a cosigner, the lender must first exhaust all means of collections gainst the primary borrower before the guarantor's income and assets are attached.

Answer 256

Five to seven years the expected useful life of the equipment.

Answer 257

15 to 25 years

Answer 258

* Character (integrity) * Capacity (sufficient cash flow to service the obligation) * Collateral (assets to secure the debt) * Capital (net worth) * Conditions (of the borrower and overall economy)

Answer 259

Term used in leasing that is similar to, but not the same as, interest on a loan. It determines how much you will pay in finance charges over the life of the lease. The lower the number, the lower the total final payment. To convert the money factor amount into an equivalent interest rate, simply multiply the money factor number by 2,400.

Answer 260

The amount that is actually being financed by a lease - the retail price minus any discounts and customer down payments.

Answer 261

A true lease is generally for a short term, and ownership of the asset (the object being leased) remains with the lessor at the end of the lease.

Answer 262

The value of the equipment at the end of the lease term.

Answer 263

* Predict your practice's ability to generate a positive cash flow strictly from operations * Gauge your practice's ability to create enough internal resources necessary for expansion * Rate your practice's ability to provide a salary, management fee, and return of capital investment to the practice owner(s) * Predict cash flow gaps requiring potential utilization of external resources * Discover unfavorable trends and/or financial/operational policies requiring correction.

Answer 264

1. Preparing a sales forecast is the first step to generating inflows that will drive the other factors in your cash flow budget. 2. Projecting anticipated cash inflows involves incorporating the cash inflows derived from eh sales forecast previously calculated 3. Projecting your anticipated cash outflows involves projecting your expenses and other cash outflows over a certain epriod 4. Consolidating projected cash inflows and outflows to arrive at the practice cash flow (positive or negative)

Answer 265

* Cost of retail goods sold * Operating expenses * Major purchases * Debt payments

Answer 266

A period where cash outflows exceed cash inflows

Answer 267

_Current Accounts Receivable Balance_ Annual Sales ÷ 360

Answer 268

_Accounts Receivable_ Monthly Sales

Answer 269

The Check 21 Act, signed into law in 2003 and effective October 28, 2004, was created by Congress and supported by the Federal Reserve Bank to further automate the American check-processing system. Checks impacted by Check 21 include consumer checks, business checks, cashier checks, teller checks, Treasury checks, and travelers' checks. By using electronic transmissions and a substitute check, the process can be reduced to hours. Banks are required to accept a substitute check from other banks in place of traditional checks while continuing to accept traditional checks as the system evolves. A substitute check effectively documents the electronic processing of a check. Check 21 does not apply to direct deposits, automatic teller machines, or point-of-sale transactions, or to noncash items such as passbooks or certificates of deposit. It essentially mandates that veterinary practices employ stricter cash management procedures to eliminate any possibility of payment without sufficient cash to cover that payment,as payments could clear a payee's bank that very same day.

Answer 270

A tax paid by consumers on goods and services sold for domestic consumption. The tax is remitted to the government by the business selling the goods and services.

Answer 271

An indirect tax on consumption of goods and services in which the tax is incrementally added at each stage where value is added to the supply chain, from production to sale.

Answer 272

* With the sales tax model, there is a burden on raw goods suppliers and manufacturers to verify that a retailer is not the final consumer, so that taxes do not need to be charged. No such burden exists with VAT since incremental taxation occurs throughout the value chain. * With the sales tax model there is a burden on retailers to comply with local, state, and federal sales tax differences. No such burden exists with VAT.

Answer 273

A financial accounting system, most commonly used for petty cash, in which a fixed amount is reserved and then replenished at the end of the period or when circumstances require. So, if the period begins with $100 in the petty cash "float" and by the end of the period $75 has been spent from petty cash, then $75 is replenished and credited to the cash account, and the debits go to the appropriate expense accounts based on the petty cash receipts.

Answer 274

They are the property of the practice and the practice owners.

Answer 275

* name, address and telephone number of the owner * name, number, or other identification of the animal or group * species, breed, age, sex, and color of the animal * immunization record * beginning and ending dates of custody of the animal * a short history of the animal's condition as it pertains to its medical status * physical examination findings and any laboratory data * provisional or final diagnosis * treatment and medication administered, prescribed, or dispenesed * surgery and anesthesia * progress of the case * radiographs and laboratory results pertaining to a given patient

Answer 276

* They allow for the convenient storage of important data * They improve the quality of patient care and customer service by helping to standardize how procedures are performed. * They help facilitate charge capture and auditing processes.

Answer 277

A broad term that encompasses all aspects of medical recordkeeping and corresponding communications.

Answer 278

Monetary value of an entity at the end of a time period minus the monetary value of that same entity at the beginning of that time period; that is, after-tax earnings minus the opportunity cost of capital.

Answer 279

* Client value-adding activities (CVAs) * Medical value-adding activities (MVAs) * Nonvalue-adding activities (NVAs)

Answer 280

(Return ÷ Investment) x 100

Answer 281

Those activities that provide value to clients

Answer 282

those activities that are medically necessary from a medical or hospital perspective

Answer 283

Those activities that are neither medically necessary nor perceived as adding value from the perspective of the client.

Answer 284

NOPAT - (Capital x Cost of Capital) NOPAT = net operating profit after taxes

Answer 285

Improve processes for both internal stakeholders (employees) and external stakeholders (clients and patients)

Answer 286

Method of continuously examining processes and making changes to them to make them more efficient and effective. It is a team approach to improving quality.

Answer 287

* F: Find a process to improve * O: Organize a team for the improvement project * C: Clarify the problem and current knowledge of the process * U: Understand process variations * S: Select improvements * P: Plan * D: Do * S: Study * A: Act

Answer 288

It is a method to test a change to a process that has been targeted for continual quality improvement.

Answer 289

How the flow of work is organized to occur at the business place/hospital. This may o r may not be the most efficient; the status quo is often evaluated to come up with a process that might lead to better efficiencies or better customer service.

Answer 290

* Cash flow of the projected purchase * Credit history of the business and/or the owners. * Collateral

Answer 291

35% or less

Answer 292

A capital structure ratio that measures the ability to pay both the principal an interest with available net cash flow

Answer 293

Today's value for a series of NCFs over a period of time. The principle is to aid in determining if purchasing the equipment will give you positive cash flow for the investment.

Answer 294

Budget that charts a course of future action for the practice by outlining and defining the plans of the practice in financial terms.

Answer 295

Equipment and fixtures

Answer 296

* Section 179 increased the amount for eligible property that can be written off in the first year of up to $500,000 with a bonus first-year depreciation of 50% in 2017 * Eligible property is machinery, equipment, furniture, fixtures, off-the-shelf computer software, and certain other items.

Answer 297

The means by which a hospital's resources are directed, monitored, and measured

Answer 298

An inventory management tool in which select products are counted on a periodic basis to detect inventory errors for continuous quality improvement, so process problems can be detected before official inventory counts or audits.

Answer 299

System of inventory control in which the number and value of inventory items can be determined directly by stock records and are updated directly as transactions occur. By adhering to perpetual inventory principles, such as the cycle of ordering, receiving, selling, and cycle counting, practices can develop an accurate quantity on hand within an automated inventory system, such as through your PIMS.

Answer 300

a stockout, or out-of-stock event, is a situation in which the demand for an item cannot be met from the supply in inventory; the amount on hand is insufficient for the amount needed or wanted.

Answer 301

* Ability to look creatively at the big picture * Ability to differentiate between major and minor issues * Have a supportive and encouraging attitude toward the inventory team * Willingness to do what it takes to get the job done * Computer skills that include, but are not limited to, the inventory function of the PIMS, spreadsheet programs, and the internet.

Answer 302

Method whereby items first placed into inventory are the first taken out of inventory or sold.

Answer 303

The cost a business incurs over a certain period of time, to hold and store its inventory.

Answer 304

Customized manipulation of an approved drug(s) by a veterinarian or pharmacist to meet the needs of a particular patient.

Answer 305

The use of an approved drug in a manner that is not in accordance with the approved labeling

Answer 306

Generic drugs are US FDA approved, which requires a demonstrated of bioequivalence of safety and efficacy with the pioneer drug product.

Answer 307

A drug thtatt can be dispensed to a client only with an order from a properly authorized individual (such as a veterinarian). Legend drugs are often more commonly referred to as prescription drugs.

Answer 308

Generate the report monthly for three months ahead.

Answer 309

* Right patient * Right drug * Right dose * Right route * Right time

Answer 310

Latent errors

Answer 311

One year from the last veterinarian-client-relationship visit

Answer 312

Generic drug products are FDA approved, which requires a demonstration of bioequivalence of safety and efficacy to the legend drug of the same form and indications. A compounded drug is a medication that has been created by combining or altering ingredients for an individual patient and must be done by a licensed veterinarian or pharmacist.

Answer 313

The Animal Medicinal Drug Use Clarification Act of 1994.

Answer 314

They should be reserved for circumstances in which there is not an FDA-approved product to relieve the animal's suffering.

Answer 315

When a veterinarian uses a drug other than in accordance with US Food and Drug Administrationr regulations, such as for an unapproved species or disease indication, or at an unapproved dose, frequency, or route of administration, but pursuant to conditions set forth in the Animal Medicinal Drug Use Clarification Act of 1994 (AMDUCA)

Answer 316

1. No approved drug for such species-condition exists 2. No on-label drug with the same active ingredient in require dosage and concentration exists 3. An on-label drug exists for the species, condition, and in the required dose but will not prove clinically effective for the intended use.

Answer 317

1. Ensuring the repackaged pesticide is registered by the EPA for a use consistent with the use for which the pesticide is prescribed, and the EPA registered use is nonrestricted 2. Complying with six labeling conditions (common or registration number, use directions for use prescribed name and address of veterinarian, antidote statement, directions for disposal of pesticide and package dispensed to the client, humans safety precautionary statements including but not limited to "For application to animals only," "Keep out of reach of children," and "In case of an accident, contact a local physician immediately", which must be "physically attached" to the package or, if there is not enough room, to supply the human precautionary statements physically attached to the container 3. Putting the pesticide in a child-resistant package unless eh veterinarian finds no reasonable possibility a child will gain access 4. Prescribe and dispense to the client for treatment of a specific pest problem, on a case-by-case basis, as part of the veterinarian's normal practice.

Answer 318

The unit cost at which a product or service can be purchased. Includes any delivery fees and/or taxes.

Answer 319

These drugs do not require a withdrawal period when used in a food-producing species.

Answer 320

These drugs require a withdrawal period when used in food-producing animals and are regulated on a "no-residue" basis

Answer 321

An approved animal drug that is intended for use in or on animal feed in combination with at least another animal drug under the professional supervision of a licensed veterinarian. Animal feed containing a combination VFD drug must be authorized by a lawful VFD order.

Answer 322

Antibiotics that are used in both veterinary and human medicine and are characterized by the World Health Organization and the FDA as important for therapeutic use in humans.

Answer 323

This is a drug in its most concentrated form and is intended for creation of another type A article or mixture into a type B or C mediated feed.

Answer 324

This feedstuff contains an animal drug that is mixed with vitamins, minerals, and/or other nutritional ingredients by weight.

Answer 325

This is a complete feed that is mixed from type A or type B feed and is ready to directly feed "free-choice" or "top dress" another feed.

Answer 326

A drug intended for use in or on animal feed that is limited by an approved application to use under the supervision of a licensed veterinarian. Use of animal feed bearing or containing a VFD drug must be authorized by a lawful VFD order

Answer 327

A written (nonverbal) statement issued by a licensed veterinarian in the course of the veterinarian's practice that orders the use of VFD drug or combination VFD drug in or on an animal feed. This written statement authorizes the client (owner or caretaker) to obtain and use drug to treat the client's animal(s) only in accordance with the conditions for use approved by the FDA

Answer 328

Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities, and threats as presented by the environment, the resources required to carry out the entire, and ultimately the prospects for success

Answer 329

A decision-making tool that weighs the advantages (pros) and disadvantages (cons) of a contemplated change. Weighting may be assigned to various pros and cons.

Answer 330

The process of finding and acquiring skilled human labor for organizational needs and to meet any labor requirement.

Answer 331

A phenomenon defined as the emotional, social, and spiritual cost of caregiving leading toa decline in the desire, ability, and energy needed to empathize with and care for others that ultimately results in the loss of satisfaction in both the professional and personal life of the caregiver.

Answer 332

A philosophy or program of care that addresses the physical, emotional, and social needs of animals in the advanced stages of a progressive, life-limiting illness or disability. Provided to the patient from the time of a terminal diagnosis through death, inclusive of death by euthanasia or by hospice-supported natural death. Addresses the emotional, social, and spiritual needs of the human caregivers in preparation for the death of the animal and the grief experience. Animal hospice care is enhanced when provided by an interdisciplinary team approach.

Answer 333

Treatment that supports or improves the quality fo life (QOL) for patients and caregivers by relieving suffering; this applies to treating curable or chronic conditions as well as EOL care.

Answer 334

The regulation that lists the categories of hazardous waste

Answer 335

Waste products harmful or toxic to humans, animals, or the environment. Chemotherapy drugs fall under this category.

Answer 336

Versions of an element that have a greater atomic weight due to additional neutrons. Unstable isotopes that emit ionizing radiation are known as radioisotopes

Answer 337

A subcategory of solid waste covering biohazardous or infectious waste produced by the diagnosis, treatment, or vaccination of an animal.

Answer 338

A term defined by the US EPA that covers a broad range of solid and liquid waste products. Most of the waste that is produced by a veterinary hospital is categories and subcategories.

Answer 339

A subcategory of hazardous waste that includes, but is not limited to, pesticides, mercury-containing equipment, fluorescent bulbs, and batteries. Most veterinary hospitals fall under the federal designation for small-quantity handlers of this material.

Answer 340

The Federal Resource Conservatin and Recovery Act (RCRA)

Answer 341

1. Conditionally exempt small-quantity generators 2. Small-quantity generators 3. Large-quantity generators

Answer 342

At the state level and sometimes by more than one agency.

Answer 343

US Nuclear Regulatory Commission requirements.

Answer 344

A combination of hazardous waste and radioactive waste

Answer 345

The Nuclear Regulatory Commission and the Environment Protection Agency

Answer 346

1. Reduce the regulatory burden and expense of dealing with large quantities of hazardous waste. 2. To reduce the negative effects on the environment

Answer 347

Models, policies, rules, or standards that govern which data are collected and how it is stored, arranged, integrated, and put to use in data systems and in organizations.

Answer 348

Compliance issues often stem from gaps in client education.

Answer 349

Computer or a computer program that depends heavily on some other computer (its server) to fulfill its traditional computational roles

Answer 350

The safety and security of your computer system

Answer 351

To retrieve consolidated information from it and to use that information to manage the hospital.

Answer 352

* You do not have to keep reinvesting in software for each upgrade * Upgrades are completed for you by the software vendor * You can access the software anywhere there is Internet access * Reduced cost, allowing you to not have to purchase expensive software all upfront * Hardware requirements generally do not change because the software is not being stored on the computer * Information technology needs lessen because all software updates and server updates are completed remotely.

Answer 353

A prediction of the net profit attributed to the entire future relationship with a customer

Answer 354

This is the total cost of acquiring a client.

Answer 355

A collection of elements that provide accurate, timely, and useful information.

Answer 356

* Mainframes * Minicomputers * Microcomputers

Answer 357

* Desktop * Laptop * Tablet

Answer 358

3 to 5 years

Answer 359

* Possibility of server crashing * Records can be lost or altered through computer corruption * Computer-generated records can lack medical details.

Answer 360

The medical record format most commonly used by veterinary health care teams. Each entry follows a distinct format: the defined database, the problem list, the plan, and the progress section.

Answer 361

A backup that occurs on a local device such as flash drives or external hard drives

Answer 362

A backup that is transmitted through the internet to a remote server, and therefore stored offline.

Answer 363

* Ability to work on your operating system * Ease of restoring data * Ease of creating backups * Automation capabilities * Ability to create local backup * Ability to create remote backup * Mirror image backup * 24/7 technical support options

Answer 364

1. Informational 2. Educational 3. Promotional

Answer 365

1. Put your training on a diet 2. Gain attention from the start 3. Establish relevance 4. Present information with a twist 5. Ask compelling questions 6. Conduct realistic demonstrations 7. Provoke discussions 8. Employe interactive activities 9. End with a bank 10. Prepare, Prepare and prepare some more

Answer 366

* Perfectly integrated * Can be located instantaneously from any location * Are secure and confidential * Provide enough detail to prevent care gaps * Still allow for team efficiency in completing tehm * Meet any regulatory requirements * Suffice to defend against malpractice claims

Answer 367

Specific Patient Care

Answer 368

* Better management through analysis * Analysis of practice trends

Answer 369

Careful planning

Answer 370

* Separate record should exist for each patient examined * The record should provide readily retrievable information about the patient * The individual records should be well organized and should follow accepted standards for scientific writing with the correct medical terminology and learn and objective language * The record must be composed as a legal document that will be admissible in a court of law * The record must be accurate and legible.

Answer 371

* Improve record accuracy * increase legibility * Reduce time spent writing or typing

Answer 372

A medical prediction of the course and outcome of a disease. The prognosis changes with time as the disease or medical condition takes its course, as treatment occurs, and as treatment is modified.

Answer 373

Source, problem or combination of the two

Answer 374

Data is entered on the record and grouped by the information source and then ordered chronologically within these categories.

Answer 375

Uses a protocol of chronologically numbering identified patient health problems. Usually organized into four sections: 1. The defined database 2. The problem list 1. the major problem list 2. the minor problem list 3. a medication table 3. The plan section 4. The progress section 1. SOAP

Answer 376

The extensive time required to compose each complete entry

Answer 377

A combination of the SOMR and POMR

Answer 378

In a combination method, the medical record includes a major problem list and a vaccination history and organizes the initial examination into the SOAP format. The major identified problems follow, with a source-oriented format, until the appearance of a new, significant issue. At that time, a complete and thorough SOAP write-up may occur.

Answer 379

The employee doing the filing must be able to spell accurately and recognize when files are out of alphabetic sequence.

Answer 380

The primary disadvantage is the need for an alphabetic cross-reference file.

Answer 381

1. They are kept to comply with legal requirements, such as those mandating that records must be kept on the use of controlled substances 2. They provide evidence in the event of a malpractice claim 3. They are convenient for quick data analysis and auditing

Answer 382

The need for clear communication with the legally and financially responsible owner of an animal to avoid misunderstanding about care and commensurate cost.

Answer 383

A complete, accurate, and legible medial record

Answer 384

* Transcription * Typing * Templates * Assistant * Dictation * Sound Files

Answer 385

The EMR can be altered subsequent to the original input, leading to potential legal problems in the event of a claim.

Answer 386

8.5" x 11"

Answer 387

* Easier to capture missed charges * Accessibility from any computer station * Can use database to create a target market for specific services * Efficient * Legible * Client perception of higher standards of care * Computers take up less space than hard files * Ecofriendly

Answer 388

* Risk of server crashing and loss of access to records * Potential computer corruption and data loss * Can be less detail in computer generated records

Answer 389

* Name, address and phone number of the owner * Patient or group (herd) identification (name, number, etc) and * Species, breed, age, sex, and color * Immunization record * Beginning and ending dates of custody of the patient * Physical examination and diagnostic (laboratory, radiograph, etc) findings * Patient history regarding medical status * Pending or final diagnosis * Treatment and medication administered, prescribed, or dispensed * Surgery and anesthesia notes * Progress of the case * Communicating between veterinarian and client * Authorization and waiver forms and estimates.

Answer 390

* Lack of complete patient and client identification * Lack of complete system-by-system description with annotated exam notes * Lack of tentative diagnosis * Lack of prognosis * Lack of treatment specified and especially lack of clients waiver or denial of recommendations for a specific treatment or procedures * Illegible entries * Alterations or deletions of record after a reasonable contemporaneous period

Answer 391

* Detailed client and patient information - updated at each visit * Previous medical history if the patient has been seen by another veterinarian * Vaccination history, including dates and types of vaccines and where they were adminsitered * The primary complaint the client presented with * Physical examination results * Diagnosis or possible diagnosis * Laboratory reports, including normal, abnormal, and any consults * Treatment recommendations and medications * Prognosis, communicated to the client and documented in the record. The prognosis can change with diagnostic results * A surgical report in detail, including drugs, duration, suture material size and type, patient monitoring, and initials of all involved medical staff * Treatment plans and consent forms.

Answer 392

Usually include lack of: * Lab-work interpretation * Pre-operative physical exam notes * Anesthetic drugs * Initials of employees who are writing in the medical record * Hospitalized patient documentation * Neglecting to document conversations with owners about prognosis of the patient * Documentation of informed consent.

Answer 393

* Date of entry * Initials of all team members writing in the record * a complete SOAP format * All authorization forms signed by the client * Missed charges * Recheck and recall compliance * Compliance with practice medical standards * Medical services compliance

Answer 394

Most significant drawback is poor legibility which can lead to patient care mistakes and confusion. Illegible records will also likely work against the practice if ever needed in a court case.

Answer 395

In the case of a written mistake, correction fluid cannot be used on any medical record, release, or authorization form. A correction should consist of a one-line strike-through with the author's initials.

Answer 396

Software should have an automatic lock-out time frame after a backup has been completed. Entries post back-up will be documented as an addendum

Answer 397

An incomplete, illegible record can be considered an admission of professional incompetence and imply that the care provided was sub-standard.

Answer 398

Although a client complaint is rarely about records, it is the records that the board will investigate to rule on the complaint. Even if the veterinarian is acquitted of a client's complaint, they could still be cited for medical record violations if they do not meet the minimum standards.

Answer 399

Medication documentation must include name of medication, strength, dose given, and route administered.

Answer 400

S - Subjective O - Objective A - Assessment P - Plan

Answer 401

* On-line continuing education * Computerized appointment system * Consultation with specialists and experts * Digital photographs and digital radiographs * Credit Card processing * E-mail reminders * Electronic medical records * Online office procedural manuals * Supply purhcase * Webpage design and maintenance

Answer 402

Software and hardware purchases will show greater return on investment than any other capital expense in veterinary medicine due to increased efficiency in every department.

Answer 403

Training provided by the company should be a strong consideration with new software, especially if you have employees less comfortable with computers.

Answer 404

a. To comply with legal requirements such as controlled substances log b. Provide evidence in the event of a malpractice claim c. Convenient for quick data analysis and auditing

Answer 405

The AVMA Principles of Veterinary Medical Ethics

Answer 406

Problem Oriented Medical Record (POMR)

Answer 407

b. The Privacy Act of 1974

Answer 408

Basic Accounting Equation

Answer 409

Traditionals

Answer 410

1. Customer intimacy 2. Product Leadership 3. Operational Excellence

Answer 411

1. Failure to mention the availability of specialty care. 2. Proscrastinating so long in the treatment process that a specialist can no longer help

Answer 412

Proximate Cause

Answer 413

US Department of Labor

Answer 414

True. Theory Y believes employees can be self-directed and creative at work if they are properly supported and motivated. So Theory X believes employees want to be directed and Theory Y believes YES employees can be self-directed.

Answer 415

Accrual Accounting

Answer 416

Planning, organizing, directing and evaluating

Answer 417

Strategic planning and evaluation of progress

Answer 418

1. Defining the Practice's Vision and Mission 2. Evaluating the Practice's Situation 3. Establishing goals 4. Implementing Strategy 5. Evaluation and Control

Answer 419

A vision statement gives an inspirational, public-facing perspective of the practice's vision and commonly held values, the mission statement presents an internally facing and motivational definition of key measures of the practice's success in accomplishing its purpose and objectives.

Answer 420

The ultimate standards, those which the owners consider to be inviolate. They steer the veterinary practice as guiding principles of practice conduct, and they are the basis for the rules by which the principals and the rest of the practice team live and make daily decisions.

Answer 421

* The time it takes the team members to draw and prepare the samples * The cost of supplies used to obtain the sample if the lab does not provide them. Supplies may include a syringe and needle, formalin if purchased by the gallon, and slides used for cytological analysis. * Some laboratories may add a fuel surcharge to the monthly statement * Shipping fees if samples are submitted to labs other than those used for general analysis.

Answer 422

A person who establishes and maintains communication between mutually beneficial enttities.

Answer 423

B. Audited

Answer 424

A. A system of calculating this year's projected tax based on last year's tax.

Answer 425

A risk assessment

Answer 426

Contributory Negligence

Answer 427

Development

Answer 428

Organizational design

Answer 429

12 to 36 months

Answer 430

This strategy avoids the urgent and crisis-oriented circumstances and maintains more of a preventative relationship for the practice.

Answer 431

The role of liaison is a full time responsibility involving staff, vendors, authorities, professional peers and advisors, independent contractors, clients, practice owners or stock holders, consultants to the practice, and any other relationship involving the practice.

Answer 432

A CPA is a college-trained accounting professional who has attained certification via a comprehensive exam and maintains the certification with continuous continuing education.

Answer 433

* Expect to interview several candidates and do your research about the candidates and their firm * Check online reviews and standing with the IRS and state boards * Do they have veterinary experience, and how do they stay abreast of veterinary trends. Do they belong to or follow any veterinary associations or periodicals. * Check licenses and credentials on-line * Match people whose philosophies and personalities are compatible with the practice * Obtain referrals from at least two of their long term clients * Make sure the candidate's experience, education, and interests match the role you're seeking to fill. * Beware of a large ego that can get in the way of good service. No one knows everything. * Choose an advisor who is busy, they are busy for a reason. * How do they structure their fees? * Avoid a firm that is too small, in the event of illness or death a small firm may not be able to continue service uninterrupted.

Answer 434

The third or last week of January

Answer 435

* Vendors are typically highly educated and well trained by their companies and can often provide you with the most cutting edge information available as to new products, client/owner concerns, and upcoming backorders * Vendors have a wide range of experience inside various practices and can offer valuable feedback on how you're doing, and/or share some good ideas from other practices. * Vendors have a wide network within the veterinary community and may know when a practice is coming up for sale, employees who may be looking for work, and may also offer employee training.

Answer 436

* **Reservoir** - a place where an infectious organism survives and replicates * **Host** - the living organism that provides the environment for the maintenance of the organism but may not be necessary for the organism's survival

Answer 437

Pastuerella

Answer 438

Some chemotherapeutic agents are eliminated in the urine and feces of the pet and can potentially expose family members.

Answer 439

Active scavenger system provides the best protection Passive system Absorption system

Answer 440

Wear an anesthetic monitoring badge Proper PPE

Answer 441

* The animal recovers * The practitioner has agreed toa ll the treatment that was agreed upon * The animal dies * The client terminates the VCPR * The responsibility for treatment is transferred to another practitioner with the consent of the client.

Answer 442

Continuing eduction Maintaining thorough medical records Practicing informed consent Staff Training Referrals

Answer 443

Hazards + Vulnerabilities = Risk

Answer 444

1. **Mitigation** - strategies and actions that reduce the likelihood and impact of a threat 2. **Preparation** - planning and training action steps that develop the capacity to respond to threats 3. **Response** - actions taken in the face of an emergency situation 4. **Recover****y** - The process of returning to normal after an emergency event. This could be a lengthy process.

Answer 445

Organizational design

Answer 446

Resistance to learning

Answer 447

The Formulation Phase. The MVVs are critical because they represent the goals of the organization and every decision made for the business, employees, clients, or patients must support the goals, and there for the MVVS.

Answer 448

* Minimizing liability exposure * Review of consent forms, handbooks, waivers, contracts, letters of intent, etc. * Conduct practice risk audits and form review two to three times a year * Buy/sell agreements * Shareholder agreements

Answer 449

College trained accounting professional who has attained certification via a comprehensive exam, and maintains the certification with regular continuing education.

Answer 450

* Providing financial statements * Audited financial statemetns * reviewed financial statements * compiled financial statements * income planning and tax returns * management consulting

Answer 451

A very detailed and lengthy process that uses a sampling of historical financial data to provide the highest level of assurance that the financial statements present a fair documentation of the business's financial position.

Answer 452

Consists of inquiries of practice employees and analytical procedures applied to the financial data. It is a significantly less detailed service than the audit and is focused on confirming that the practices financial statements are in conformity with generally accepted accounting principles, or the CPA will identify the modifications that must be made to successfully conform.

Answer 453

Provide the most basic level of assurance that the accountant provides after obtaining a rudimentary knowledge of the veterinary industry and the services provided. The accountant will determine if there are any obvious departures from GAAP

Answer 454

Pro - Keeps the practice owner and veterinarians from investing time with the vendors Con - The inventory manager may develop an unfair bias for or against specific vendors.

Answer 455

Requires close contact between the reservoir of the disease and the susceptible host

Answer 456

* Animal behavior and restraint * Electrical safety * Ergonomics * Indoor Air Quality * Lifting * Moving Equipment * Noise Hazards * Fire Safety * Toxicities due to cleaning supplies, chemotherapy agents, x-ray developer and medications * Workplace Violence * Wet Floors

Answer 457

85 decibels.

Answer 458

10 or more employees

Answer 459

* Monthly walk-through inspections * Fire codes and inspections * Exit signs * Emergency lighting * Fire extinguishers * Emergency action plan * Blocked entries must be cleared at all times * conduct fire drills annually

Answer 460

* Ethylene Oxide * Formaldehyde * Glutaraldehyde * Radiology Chemicals * Chemotherapy Agents * Anesthetic Gases * Anesthetic Agents

Answer 461

Nitrous Oxide and Halogenated agents

Answer 462

It provides a means of energetic collection such as a fan that creates an active vacuum. These systems, when functioning properly, provide the best protection for team members.

Answer 463

Channels waste anesthetic gas through a tube to an acceptable location for evacuation. This system is only good for short distances because the only means of expelling the gas I s the patient's lung pressure and the rate of flow of the gas.

Answer 464

Uses charcoal to remove all halogenated gases but does not absorb nitrous oxide. Charcoal canisters must be replaced after 20g of absorption or the waste gases will overflow into the room.

Answer 465

Every 3 to 12 months

Answer 466

Liability coverage and property insurance

Answer 467

Covers damages that the veterinarian causes to other persons, pets or property. A liability policy will contain multiple provisions, with separate limits, for personal injury and property damage caused to others.

Answer 468

Covers damage to the insureds own property.

Answer 469

classified legally as a tort (a civil wrong or wrongful act, whether intentional or accidental, from which injury occurs to another) that requires proof of four essential elements, and if any of the elements cannot be provided by a preponderance of the evidence then the cause of actions fails.

Answer 470

1. Duty - the duty to practice within the standard of care is typically established at the creation of a VCPR 2. Breach of Duty - failure to act in accordance with the standard of care. 3. Proximate Cause - the connection between the negligent act of the practitioner and the harm to the patient or client. 4. Damages - Harm incurred to patient or client as direct results of the negligent act of the practitioner.

Answer 471

1. The animal recovers 2. The practitioner has completed all the treatment that was agreed upon 3. The animal dies 4. The client terminates the VCPR 5. The responsibility for treatment is transferred to another practitioner with the consent of the client.

Answer 472

When the defendant in a malpractice action may be able to show that the client was also negligent in the care of their animal. Proof of any degree of negligence may serve to eliminate recovery by the client.

Answer 473

Similar to contributory negligence, except the client's recovery is determined by the percent of negligence on the part of the client. If the client is found to be 25% negligent, then they will recover only 75% of the total damages. Typically, if the client is found to be over 50% negligent the client cannot recover any damages.

Answer 474

The defense theory is often used in animal bite cases. The defendant in the case will claim there was an assumption of risk of getting bit and cannot recover damages.

Answer 475

* The reasonable cost of veterinary care caused by the negligence * Transportation cost to another veterinarian such as a specialty practice * Lost wages incurred when seeking veterinary care due to previous negligence * The fair market value of the animal if it ultimately dies * Cost of bringing a replacement animal to the status of the animal that died, including vaccines, specialty training, etc. * Loss of income from the deceased pet such as future litters.

Answer 476

A plan to keep the practice functioning in the face of adverse conditions and to recover quickly from disaster.

Answer 477

* **Hazards** - any threat that could have a negative impact. * **Vulnerability** - a resource threatened by a hazard * **Risk** - the level of danger to a business, individual, or community based on an analysis of threat versus vulnerability

Answer 478

* Community or regional hazards * Focal hazards * secondary impacts

Answer 479

* Flooding, wildfires, and landslides * Drought and severe weather such as a tornado, blizzard, hurricane * Disease outbreaks * Man-made hazards such as chemical, radiological, HAZMAT accidents * Infrastructure failures such as bridges, utilities, communication, or roads * Intentional threats such as cyber-attack, terrorism, biological, chemical, explosives.

Answer 480

* Structure fire or structure failure or system malfunction such as sewer, plumbing, electrical, roof, walls, etc. * Criminal acts such as vandalism, burglary, employee theft, computer hackers * Regulatory Compliance failure such as DEA, OSHA, building or fire codes * Biosecurity hazards such as zoonotic threats or contamination such as anthrax, salmonella, influenza, etc.

Answer 481

* Loss of clientele * Local, regional, or national economic damage * Loss of product availability or supply chains * Major foreign animal disease emergencies that can impact local agriculture and economics, or availability of veterinary personnel

Answer 482

Risk assessment

Answer 483

1. Mitigation - strategies and actions that reduce the likelihood and impact of a threat 2. Preparation - planning and training action steps that develop the capacity to respond to threats 3. Response - actions taken in the face of an emergency situation 4. Recovery - the process of returning to normal after an emergency event.

Answer 484

* Comprehensive business liability, property coverage, general and professional liability * Business interruption continuing expenses. * Extra expense coverage for relocation and overtime expenses * Professional extension - covers the loss, injury, o death of patients in the practice's care. * Loss of income for brick and mortar or mobile practice * Personal property * Fire and water damage * Flood/Earthquake insurance * Debris removal and clean up * Civil ordinance coverage * Comprehensive building and structure replacement * Workers compensation

Answer 485

* Evacuate people outside to a safe place and assign specific responsibilities to employees * Evacuate animals whenever safely possible but do not allow people back into a potentially hazardous situation to rescue animals. Local fire departments may assist with appropriate policies * Maintain client contact information and ask clients to provide a 24 hour contact number as well as an alternate number.

Answer 486

* Communicate yoru plan to all practice personnel * Practice the plan via drills * Review and revise the plan * Repeat the process at least annually * Assign response tasks to specific personnel and assign backup personnel.

Answer 487

Ownership, all staff, insurance, government emergency management services.

Answer 488

* Detection of red flags such as someone new to the neighborhood * Suspicious looking photo ID * presenting a written credit card number instead of the actual card * Discrete intake of information - turn computer monitors away from clients viewing range, do not leave sign-up sheets that allow anyone to read personal information * A policy to deter identity thieves by using a locked and password protected and secure data storage system for client and employee personal data * Limit keyed access to the building, files, computers, and other areas containing personally identifiable infromation * Perform regular background checks on all workers, including seasonal and part-time workers * Regularly train and update employees on your clinical security procedures * Dispose of information that contains any personal data by shredding prior to placing in the outside bins.

Answer 489

* Introductory - vision, innovation, and energy * Growth - efficiency, discipline, and talent development and critical * Maturity - manage risks, problem solve, search for continuous opportunity for growth. * Decline - decreased demand for services. Revisiting the strategic plan for revitalizing the practice is vital.

Answer 490

1. Formulation 2. Development 3. Implementation 4. Evaluation

Answer 491

* Development of MVV that represents the goals of the organization and the basis for how every decision is made. Every member of the team must embrace the MVV of the practice. * SWOT Analysis - Strengths, Weaknesses, Opportunities, and Threats * Gap Analysis - Compare current performance with potential or desired performance and leads to the development phase of the strategic plan,

Answer 492

* Use the results o the MVV, the SWOT and the GAP to create a plan to achieve the desired goals. Consider: * Team members * Clients * Patients * Budget

Answer 493

* Intent is translated into specific plans of action. * Allocate resources to the right initiatives, communicate them to team members, manage them effectively. * Education, team knowledge, skills, and abilities, and appropriate staffing are all necessary to achieve the goal * Incorporate Systems Thinking where consideration is given to how each department affects another * Create a plan of action * List specific objectives and how the success will be measured * How will the objectives be obtained and what resources will be needed * What is the time frame for the objectives to be completed.

Answer 494

* Evaluate the success of the original objectives created during the development phase. * Consider a balance scorecard that illustrates the state of the practice * Client satisfaction * financial status * learning and development progress

Answer 495

* The methodology identifies aspects of workflow, procedures, roles, and systems and aligns them to fit current business realities and goals. * Clearly defines roles within the practice and should empower team members due to clear responsibilities, clear goals, and effective communications.

Answer 496

A learning organization is characterized by the ability to adapt to change and respond quickly to environmental/consumer changes

Answer 497

* Leadership did not support or commit to change * Wrong message or message did not resonate with the team * Changes were forceful instead of collaborative * Lack of clear communication * Change does not align with MVVs

Answer 498

Adult Learning theory states that, for adults, new information must be used immediately to be retained. Adults have three learning styles for best retention - sight, hearing, and touch.

Answer 499

Lecture delivery, pushed to the student

Answer 500

Students research data and pull information to themselves. In adult learning theory, pull learning increases retention.

Answer 501

What team members will be needed to achieve the practice goals from now and forecasting 5 - 10 years from now.

Answer 502

* Understand supply and demand * Talent Acquisition * Talent management * Succession planning * Employee engagement * Integrating technology * Budget planning * Marketing plan

Answer 503

* Average number of current employees * Average practice growth in percent * Average employee attrition rate * Number of years the strategic plan encompasses.

Answer 504

* **Acquisition** - hire the right team members is important to strategic goal achievement * **Talent Management** - building the team to deliver the strategic goals that have been put in place * **Succession Planning** - identifying and fostering the growth of high performing employees and preparing them o fill critical positions within the practice in the future.

Answer 505

* Leadership supports innovation and creative thinking * Leadership uses high level and clear communication * Open book management * Support team members emotional well being (physical and psychological health and connectedness of team members) * Wages play a large role in employees happiness * Team members need to know that leadership cares about them.

Answer 506

* Human Resources * End-of-day reconciliation * Controlled substances * Financial * Data recovery * The strategic plan

Answer 507

The monetary value of some define investment at some point in the future, given a specified rate of return.

Answer 508

The calculated rate of return, given the cost and future value of an investment.

Answer 509

The net return on a project, given all costs and revenues, in terms of current monetary value

Answer 510

The current monetary value of some define investment return, given a specified rate of return.

Answer 511

The amount an investment appreciates or depreciates over time, often expressed as a decimal or a percentage

Answer 512

A simple method for estimating the time it would take for an investment to double in value, given a fixed compounding annual rate of interest.

Answer 513

Present Value of all revenus - Present value of all costs

Answer 514

Present Value x (1 + rate of return)^time

Answer 515

to provide a snapshot view of the assets, liabilities, and owners equity at a specific moment in time.

Answer 516

Earnings before interest, tax, depreciation, and amortization. It is profitability measure used by financial analysts of large publicly traded entities

Answer 517

The four major phases that describe a business from the time it is formed until the time it is closed: startup, growth, plateau, and decline.

Answer 518

* Revenue per FTE veterinarian * Revenue per FTE staff members * Revenue per open hour * Revenue per square foot

Answer 519

Establishing a price for a good or service based on the prices charged by others.

Answer 520

* Applying a fixed markup percentage to the acquisition cost has uneven effects depending on the acquisition cost * Veterinarians may use markups for commodities that are significantly higher than those used by retailers for the same or similar items, potentially making veterinary prices seem artificially higher than competitors. * Markups tend to amplify the cost of products or services that tend to be more expensive or used to treat larger animals while minimizing the cost of less-expensive goods or services or those used to treat smaller animals, unrelated at all to value delivery * Markups applied to acquisition costs tend to work best on moderately priced goods and services in which there is minimal variability in price, to when different markups are used in a tiered fashion, based on the acquisition price * Paying employed veterinarians ac commission on such items to be marked up forces the final retail price to be even higher to the consumer without providing additional value than was gained from the office visit * Using markup enables the easy determination of a retail price, but additional calculations would be necessary to determine indirect costs and profit margins.

Answer 521

All basic expenses associated with offering services or total expenses minus the cost of professional and paraprofessional staff and the costs associated with materials that typically would be used up in the process of offering services.

Answer 522

Quantifiable measure used to assign costs to activities; reflects the consumption of costs by activities.

Answer 523

Any activity for which a separate measurement of costs is desired

Answer 524

Misappropriation of money or funds by someone entrusted with their care or management

Answer 525

* Prevent controls - procedures designed to prevent an error or fraud at a single transaction level * Detect controls - policies and procedures designed to monitor the attainment of relevant processes, including identifying errors or fraud applied to groups of transactions.

Answer 526

Dividing net income by the average operating assets of the company and expressing the result as a percentage

Answer 527

Total revenue over a period of time divided by the total number of transactions during that same period; this represents the average amount spent by clients each time they visit the practice.

Answer 528

* Fee increases * Change in transactions * Change in recommendations made to and accepted by clients * Change in support staff * Equipment additions * Changes in the demographics of pet owners visiting the practice * Range and mix of services * Change in economy * Discounts and missed charges * Efficiency

Answer 529

Ensure that the person paying the bills understands the categories to which expenses should be assigned, and consistently puts expenses in the appropriate categories.

Answer 530

* Cost of retail goods sold * Operating expenses * Major purchases * Debt payments

Organization of Practice Flashcards

(575 cards)