This Type of Fee Is Typical in Accident Situations,but Is

question 90

Multiple Choice

This type of fee is typical in accident situations,but is not usually used in everyday contract and business-related matters.

• A)Hourly fees
• B)Flat fees
• C)Contingency fees
• D)Retainers

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Definitions:

Gross Profit Method

An estimating technique used to determine the cost of goods sold and ending inventory, based on the gross profit margin.

Goods Available

Refers to the total quantity or cost of goods that a company has ready for sale at any given time, including both its beginning inventory and the cost of goods purchased or manufactured during the period.

Inventory Estimate

An approximation of the value or quantity of inventory, used for accounting or planning purposes.

Retail Method

An accounting method to estimate ending inventory and cost of goods sold by using a proportional relationship between the retail value and cost of goods.