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ALA Exam Questions & Answers 100% CORRECT 2024/2025
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ALA Exam Questions & Answers 100% CORRECT 2024/2025 Statutory Fringe Benefits - ANSWERSBenefits that have been exempted from income taxation by law to encourage employers to provide these benefits the their employees, such as medical insurance, disability and group-term life insurance. Situ...

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  • August 16, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ala exam questions answers 100 correct 2024202

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  • ALA

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ALA Exam Questions & Answers 100%
CORRECT 2024/2025

Statutory Fringe Benefits - ANSWERSBenefits that have been exempted from income taxation by law to
encourage employers to provide these benefits the their employees, such as medical insurance,
disability and group-term life insurance.



Situational Judgment Tests - ANSWERSTests that measure a person's judgment in work settings.



Situational Leadership - ANSWERSA management theory stating that different situations call for different
leadership styles and that essentially there is no one best way to lead.



Skill-Based Pay - ANSWERSA salary differentiation system that bases compensation on an individual's
education, experience, knowledge, skills or specialized training.



Soft Disbursements - ANSWERSInternal costs that have a predetermined billing value such as copy and
facsimile.



Special Form Coverage - ANSWERSInsurance that typically covers all risks, including theft, unless
specifically excluded from the policy.



Spreadsheet - ANSWERSComputer software used to create worksheets consisting of columns and rows.



Claim - ANSWERSA demand made by the insured, or the insured's beneficiary for payment of the
benefits provided by the contract.



Claims Made Coverage - ANSWERSForm of insurance that pays claims presented to the insurer during
the term of the policy or within a specific term after its expiration. It limits liability insurers' exposure to
unknown future liabilities.

, Civil Rights Act of 1991 - ANSWERSEnacted to strengthen and improve federal civil rights laws by
providing for damages in cases of intentional employment discrimination, clarifying provisions regarding
disparate impact actions and for other purposes.



Chronological Filing - ANSWERSFiling in sequence according to date.



Chronological Files - ANSWERSCopies of outgoing correspondence arranged in chronological order.



Certified Destruction - ANSWERSShredding of paper or media by a bonded company.



Central Tendency Error - ANSWERSOccurs when a rater gives all employees a score within a narrow range
in the middle of the scale.



Cash Flow - ANSWERSThe overall amount of cash generated by the company that is available to the
company to manage the business.



Cash Basis Accounting - ANSWERSRevenue is recorded when the cash is received and expenses are
recorded when the bills are actually paid.



Case Files - ANSWERSGroupings of records that pertain to a specific person, place, thing, event or
program.



Carryovers - ANSWERSProvision of tax law that allows current losses or certain tax credits to be utilized
in the tax returns of future periods.



Capped Fees - ANSWERSClient pays law firm up to a specified maximum amount, but no more.



Capital Gain - ANSWERSPortion of the total gain recognized on the sale or exchange of a non-inventory
asset which is not taxed as ordinary income.



Capital Budget - ANSWERSThe portion of the budget process in which management focuses specifically
on the company's fixed asset needs.

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