Rather Than Billing Clients by the Hour, Some Lawyers and Their

question 1

Multiple Choice

Rather than billing clients by the hour, some lawyers and their clients agree on a fixed fee based on expected costs plus a profit for the law firm. Which pricing method are they using?

• A)cost-plus pricing
• B)experience curve pricing
• C)customary pricing
• D)target pricing

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Definitions:

Volcanic Mudflows

Volcanic mudflows, also known as lahars, are fast-moving, deadly flows of mud, rocky debris, and water that originate from volcanic eruptions or the melting of snow and ice atop volcanoes.

Composite Volcano

A volcano composed of layers of hardened lava, tephra, and volcanic ash, typically having a steep profile and explosive eruptions.

Shield Volcano

A broad, domed volcano with gently sloping sides, built by the eruption of fluid basaltic lava.

Fissure

A long, narrow opening or crack, especially one in the ground or in rock formations.