To a Business That Has Become the Target of Litigation

question 7

True/False

To a business that has become the target of litigation, contingency fees can result in more litigation by improving accessibility to the legal system for claimants who might otherwise lack the resources to sue.

---

Definitions:

Discount Period

The time frame within which a payment can be made at a reduced rate.

Asset Account

An account on a balance sheet representing resources owned by a company that have economic value.

Liability Account

A category in financial accounting that represents debts or obligations a company owes to others.

Subsidiary Ledger

A detailed ledger that contains the individual accounts necessary to support a major (control) account organized in the general ledger.