What significant changes to the conflicts of interest rules were made by the ABA since the passage of the Ethics 2000 revisions?
What will be an ideal response?
The Ethics 2000 version of the conflicts rules have more than a few significant changes. One significant change is the requirement that clients give “informed consent” to continued representation when a lawyer conflict arises, whereas the Model Rules simply required consent after consultation.” The new MR 1.8 no longer limits lawyers limiting their professional liability with their clients, although it now expressly prohibits lawyer-client sexual relations. The new MR 1.10 now allows for lawyer screening and discusses paralegal screening in its Comments.
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Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
1. Shell, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet:
The change in Accounts Receivable is shown as a negative cash flow in the adjustments to net income.
2. Wesley, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet:
The change in Merchandise Inventory is shown as a negative cash flow in the adjustments to net income.
3. Texas Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet:
The ch
Equivalent production units, usually are determined for
A) direct materials and conversion costs. B) direct materials only. C) conversion costs only. D) direct materials and direct labor costs only.
A fronting loan can be used by the parent company when the
A. local subsidiary needs operating capital and cannot obtain local loans. B. host government restricts subsidiary remittances. C. local banking environment operates on the basis of names rather than figures. D. local interest rates are higher than those in the home market.