Finkler Legal Services, LLC, Uses the Step-Down Method to Allocate

question 1

Multiple Choice

Finkler Legal Services, LLC, uses the step-down method to allocate service department costs to operating departments. The firm has two service departments, Personnel and Information Technology (IT) , and two operating departments, Family Law and Corporate Law. Data concerning those departments follow: Personnel costs are allocated first on the basis of employees and IT costs are allocated second on the basis of PCs.
-In the first step of the allocation, the amount of Personnel Department cost allocated to the Family Law Department is closest to:

• A) $30,752
• B) $32,837
• C) $45,636
• D) $29,177

Understand the life cycle of entrepreneurial firms and associated management challenges.

Identify key personal traits and characteristics of successful entrepreneurs.

Recognize different sources of finance for businesses, including debt and equity options.

Understand the attitudes and personal interests that motivate entrepreneurs.

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Definitions:

Developmental Trajectory

The course of development taken by an individual or group over time, often studied in psychological and educational contexts.

Emotional Sensitivity

An individual's heightened ability to perceive, feel, and respond to emotions in themselves or others.

Causal Link

A relationship where one event or action is understood to directly cause another.

General Paresis

A neurological disorder resulting from untreated syphilis, leading to progressive dementia and paralysis.