Term
| Why is it necessary to prepare comprehensive budgets? |
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Definition
| To plan, analyze and control operations. |
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Term
| A candidate for a computer data entry position has an obvious vision impairment as he is wearing a patch over one eye. Under the Americans With Disabilities Act of 1990, which question can be asked during an interview? |
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Definition
| Will an accommodation be necessary? |
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Term
| What is one of the significant financial differences between a law firm organized as a partnership and one which is organized as a professional corporation? |
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Definition
| In professional corporation, the entity is responsible for withholding taxes for shareholders; in partnerships, each partner is personally responsible for filing employment taxes. |
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Term
| Under the Consolidated Omnibus Budget Reconciliation Act of 1986 (COBRA) as amended, which one of the following is a qualifying event for coverage? |
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Definition
| Dependent attains the age of 26 |
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Term
| An equipment acquisition is necessary. The lawyers would like to find a financing method that would limit the liability of the partners as a group, provide minimal interest cost to the law office, and be easy to administer. Which financing method satisfies these criteria most effectively? |
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Definition
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Term
| What characterizes the life cycle of building facilities management? |
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Definition
| Planning, acquisition, operations/maintenance and disposition. |
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Term
| When a quick resolution is needed on an important issue and buy-in is not critical, a manager should use which conflict resolution technique? |
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Definition
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Term
| Your firm has been asked to represent a client that is in direct economic competition with an existing client. The simultaneous representations would be in unrelated matters. According to the American Bar Association Model Rules of Professional Conduct, your firm: |
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Definition
| is not obligated to do anything. |
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Term
| A firm had 7 years remaining on a 10-year lease when it spent $100,000 on a leasehold improvement. How should the leasehold improvement be amortized? |
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Definition
| Over the remaining life of the lease |
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Term
| The new Human Resource Director finds that there are no job descriptions for any of the employees in the organization. The Director knows that one of the first requirements is conduct a job analysis, because: |
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Definition
| she needs to ensure that employment interview questions are job-related. |
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Term
| A law firm has installed a new computer system at a total cost of $400,000. The firm decides to finance the system through a capital lease over a 5-year period. What would be the effect on the assets section of the firm's balance sheet at the time of acquisition? Assets would: |
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Definition
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Term
| Which of the following is not an element in the standard recommended process for establishing an employee training program? |
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Definition
| Estimating the probability of training success. |
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Term
| What is a key factor in determining pay equity? |
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Definition
| How well an individual performs his/her job. |
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Term
| What is an example of an annual plan for updating computer servers? |
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Definition
| A short-term operational plan. |
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Term
| For federal income tax purposes, a Limited Liability Company with two or more individuals, without making additional IRS elections, is treated like a(n): |
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Definition
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Term
| An employee selection procedure which has been "validated" has been shown to be: |
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Definition
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Term
| How can firm leaders minimize long-term conflicts? |
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Definition
| By discussing common goals with each other. |
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Term
| According to the standard contract form published by the American Institute of Architects (AIA), in order for a contractor to be paid for the work, the contractor must: |
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Definition
| submit an application for payment that is certified by the architect. |
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Term
| In order for a firm to manage client representations effectively, and fulfill its duties to existing and former clients, when should conflict of interest checks on new work be performed? |
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Definition
| As soon as the client and subject matter are identified and before any work is undertaken. |
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Term
| In a Statement of Cash Flows, which is an example of cash flow resulting from investing activities? |
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Definition
| Expenditures for property and equipment. |
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Term
| When being fair and impartial is more important than the specific outcome of a disagreement, how should an administrator settle the conflict? |
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Definition
| By using an objective rule such as a coin flip. |
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Term
| What type of database is used to create matter management systems? |
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Definition
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Term
| Unless specifically agreed otherwise, what is the extent of liability for newly admitted partners in law partners in law partnerships? |
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Definition
| Liability extends to their personal assets for obligations incurred on or after their date of admission. |
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Term
| The Building Owners and Managers Association (BOMA) computes "Rentable Area" of floor by measuring the: |
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Definition
| inside finished surface of the dominant portion of the permanent outer building walls, excluding any major vertical penetrations of the floor. |
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Term
| Managers who set high expectations for their employees may initiate a process that leads to the fulfillment of those high expectations. What is this known as: |
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Definition
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