3 Minute Financial Quiz Rank your level of agreement with a scale of 1-5 for the following statements:

1. We create and use a budget on an annual basis.

2. We monitor our expenses every month and audit them regularly.

3. We have created and regularly deposit into a Profit Account.

4. We have three to six-months of operating expenses set aside for emergencies.

5. The firm’s partners make more in distributions that they do from their own salary.

6. The firm’s partners are leveraged appropriately with teams of associates and/or paralegals.

7. All revenue producers in the firm have an 85 to 90% Utilization Rate.

8. The firm’s billing and collections systems are integrated, fast and streamlined.

9. The firm has revenue or hourly targets for all their revenue producers that are monitored.

10. The firm has systems in place to prevent internal fraud.

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