A Lawyer Who Works for a Firm, but Is Not

question 33

Multiple Choice

A lawyer who works for a firm, but is not yet a partner in the firm is a(n)

• A) associate.
• B) paralegal.
• C) law clerk.
• D) legal aide.

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Definitions:

Capital Lease

A lease agreement that designates the lessee (the party leasing the asset) as the owner for accounting purposes, and it generally spans a significant portion of the asset's life.

Accounting Purposes

The rationale or objective behind various accounting practices, often to comply with regulatory requirements or to provide clear financial information.

Lease Term

A fixed period during which a lessee has the right to occupy or use a leased asset.