In Preparing a Settlement Précis or in Discussions with the Adverse

question 132

Multiple Choice

In preparing a settlement précis or in discussions with the adverse party's attorney, the paralegal

• A) needs to be cautious about revealing too much information.
• B) has no need to seek the guidance of the attorney.
• C) has no need to be concerned about revealing confidential information.
• D) has no need to be concerned about any embarrassment to the client.

---

Definitions:

Fixed Costs

Expenses that do not vary with the level of production or sales, such as rent, salaries, and insurance premiums.

Activity-Based Costing

A costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.

Break-Even Point

The point at which total revenues equal total costs, resulting in no profit but no loss.

Batch Cost

The total cost associated with producing a set or batch of goods.