There Are Two Branches of the Legal Profession in Australia

question 24

Multiple Choice

There are two branches of the legal profession in Australia: barristers and solicitors.Which of the following statements is not true of a barrister?

• A)They are referred to as counsel.
• B)They specialise in advocacy before the courts.
• C)They brief solicitors to appear in court.
• D)In Queensland, they may not practice as a barrister and solicitor at the same time.

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Definitions:

Required Rate of Return

The minimum return an investor expects to achieve by investing in a particular asset, considering its risk level.

Net Present Value

A financial metric that estimates the profitability of an investment or project by calculating the difference between the present value of cash inflows and the present value of cash outflows over a period of time.

Internal Rate of Return

This is the discount rate that makes the net present value (NPV) of all cash flows from a particular project equal to zero.

Payback Period

The length of time it takes for an investment to recover its initial expenditure from the cash inflows that it generates.