Answer:
A client who has cancer and is receiving TPN. The following lab findings indicate the treatment is effective:
Explanation:
- TPN stands for total parental nutrition. It is a method of giving nutrition to a person in which nutrients are given to the vein in order to bypass the gastrointestinal tract because that person is unable to take food through mouth.
- The prealbumin blood test is used to check that a person is getting required amount of nutrients and the normal test indicates that prealbumin is 30 mg/dL so that's why the lab finding indicates that the treatment is effective.
Answer:
<u>Income statement according to the absorption costing</u>
Sales 2,600,000
Less Cost of Goods Sold
Opening Stock 0
Add Cost of Goods Manufactured
Direct materials 1,218,000
Direct labor 522,000
Variable factory overhead 87,000
Fixed factory overhead 130,500
Less Closing Stock (1,957,500/4,350)×350 (157,500) 1,800,000
Gross Profit 800,000
Less Period Costs :
Selling and administrative expenses:
Variable selling and administrative expenses (60,000)
Fixed selling and administrative expenses (25,000)
Net Income 715,000
Explanation:
<em>Product/Manufacturing Cost - Absorption Costing = Direct Materials + Direct Labor + Variable Overheads + Fixed Overheads</em>
<em>Period Cost - Absorption Costing = All Non - Manufacturing Costs</em>
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Answer:
B) False
Explanation:
The way the transaction takes place on the market is the Market Organization. Over time it's determined by a combination of factors: chance events (e.g., technical innovations, locations), financial and physical limitations (transaction costs, intelligence cost, manufacturing costs)etc.
Because they are always converted to an income summary throughout the closing process, revenue and expense accounts are known as nominal accounts.
so the statement is false
Revenue Definition:
Revenue in financial accounting refers to an inflow of funds, typically from sales or services provided by commercial activity. It is also known as sales or business turnover. In other terms, revenue refers to the amount of money that a company or organization receives. For instance, certain businesses may receive income from royalties, interest, or copyright fees. While for some businesses, money may come from the services they provide to clients. Donations from groups, corporations, and people are referred to as revenue for non-profit organizations.
Operating Revenue Examples:
- Sales.
- Fees or Commission Earned.
- Service Revenues.
Expenses Definition:
A money outflow is known as an expense or expenditure in financial accounting. As an illustration, a tenant's expenses can include rent. Parents' expenses could include the cost of their children's tuition. Expenses for a business include things like electricity bills, bank fees, sales expenses, phone bills, repairs, and services.
List of expenses in accounts frequently observed when preparing financial statements:
- Cost of goods sold.
- Legal fees.
- Depreciation.
Learn more about Revenue and expense accounts here
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