Business: Its Legal Ethical And Global Environment 10th Edition

Representative Pete Stark said the following in a speech on the floor of the U.S. House of Representatives, "You"re going to spend it to blow up innocent people if we can get enough kids to grow old enough for you to send to Iraq to get their heads blown off

Sanctions that can be imposed by agencies include: a. injunctions. b. fines. c. loss of license. d. all of the above Answer: d Answer: d Answer: d Which of the following is not an ethical breach? a. taking things that do not belong to you b. giving or allowing false impressions c.perpetrating interpersonal abuse d.All of the above are ethical breaches. Answer:

The prohibitions on sex discrimination apply only to: a. job hiring decisions. b. promotions. c.wage increases. d.a, b, and c e. none of the above Answer: d Answer: d Answer: d Russ Belmont is a staff accountant at a bank in the downtown Phoenix area. Belmont commutes to the bank each day from his suburban home in Mesa -

The Family Medical and Leave Act: a. provides for twelve weeks of paid leave for family medical issues. b. applies only to birth or adoption issues. c.is an optional federal program. d.none of the above Answer: d Answer: d Answer: d "That's the way it has always been done," is a phrase that often signals ethical difficulties. a. True b.

Nuisance is a common law anti-pollution doctrine. a. True b. False Answer: True Answer: True Answer: True Partners' personal assets can be reached by partnership creditors. a. True b. False Answer: True Answer: True Answer: True Close corporations have less formality in their operational requirements. a. True b. False Answer: True Answer: True Answer: True Under Sarbanes-Oxley, how often must the audit partner in charge of an audit

The Sherman Act does not apply unless sales across state lines are involved. a. True b. False Answer: False Answer: False Answer: False Which of the following acts established the NPDES system? a. Water Pollution Control Act of 1948 b. Water Quality Act c.Rivers and Harbors Act d.Federal Water Pollution Control Act of 1972 Answer: d Answer: d Answer: d The U.S. Army

Sovereign immunity provides that our court system cannot be used to right injustices in other countries. a. True. b. False Answer: True Answer: True Answer: True The Antitrust Improvements Act gave the Justice Department broader investigative authority. a. True b. False Answer: True Answer: True Answer: True The Clayton Act does not carry criminal penalties. a. True b. False Answer: True Answer: True Answer: True An ultravireschallenge

The USA Patriot Act: a. has been declared unconstitutional. b. expanded the Money Laundering Control Act. c. applies only to banks. d.none of the above Answer: b Answer: b Answer: b Conscious parallelism negates market forces. a. True b. False Answer: True Answer: True Answer: True The Rehabilitation Act of 1973 applies to all employers. a. True b. False Answer: Answer: Answer: False False False Federal regulation of the Internet

Penalties for corporate officers under Sarbanes-Oxley include: a. 5-20 years for mail and wire fraud. b. 1-10 years for violation of fiduciary duties. c. a maximum penalty of $5,000. d.both a and b Answer: d Answer: d Answer: d Galley, Inc.has a contract for operating the kitchen at the Palm Crest Hotel in Miami, Florida. Mealco has approached

Which of the following sections of the U.S. Constitution establishes the judicial branch of government? a. Article I b. Article II c. Article III d. none of the above Answer: c Answer: c Answer: c Sarbanes-Oxley requires all covered companies to have a code of ethics for financial officers. a. True b. False Answer: True Answer: True Answer: True The shareholders of Tennis

Implied contracts are unenforceable. a. True b. False Answer: False Answer: False Answer: False Ellen Benson has been operating a small catering business out of her home. Business growth is now requiring an office and kitchen facilities. Before expanding facilities, Ellen wishes to incorporate her business. Where would Ellen find the laws of incorporation? a. state statutes b.

Under the CISG, acceptance is effective only upon receipt. a. True b. False Answer: True Answer: True Answer: True Rationalization is an effective means of analysis for ethical issues. a. True b. False Answer: False Answer: False Answer: False UETA does not apply when there is an applicable statute of frauds. a. True b. False Answer: False Answer: False Answer: False Under the Consumer Product Safety Improvement Act

ERISA was passed to regulate employee pension and retirement plans. a. True b. False Answer: True Answer: True Answer: True When the UTSA does not apply, recovery for taking a trade secret: a. does not exist. b. may exist for breach of loyalty. c.may exist for breach of due care. d.may exist for breach of accounting. Answer: b Answer: b Answer: b Which of

Which of the following statutes was the first federal antitrust statute? a. Clayton Act b. Sherman Act c.Federal Trade Commission Act d.none of the above Answer: b Answer: b Answer: b The implied warranty of merchantability (unless disclaimed) is given in every sale of goods by a merchant. a. True b. False Answer: True Answer: True Answer: True Which of the following questions

South Dakota is the location for many national banks' credit card operations. How much income tax could the state of South Dakota collect on the banks that operate their credit card divisions there? a. South Dakota could collect tax on the banks' full income. b. South Dakota cannot collect income tax unless the

A monopsony is the same thing as a monopoly. a. True b. False Answer: False Answer: False Answer: False Which is a requirement for establishing apparent authority? a. underlying express authority b. an agency agreement c.both a and b d.none of the above Answer: d Answer: d Answer: d The USA Patriot Act imposes stricter standards for employers and deportation. a. True b. False Answer: Answer: Answer:

Which of the following reports the opinions of federal district courts? a. FederalSupplement b. FederalReporter c.Federal district court opinions are not reported. d.none of the above Answer: a Answer: a Answer: a Scalping ordinances are an example of criminal laws. a. True b. False Answer: True Answer: True Answer: True Hearings are required in all federal rule proposals. a. True b. False Answer: Answer:

Resale price maintenance occurs when: a. the manufacturer suggests retail price. b. minimum prices are enforced. c.consignment arrangements control prices. d.all of the above Answer: b Answer: b Answer: b All WTO members follow the 20-year period of patent protection. a. True b. False Answer: True Answer: True Answer: True Roche Holding and AstraZeneca have agreed to work together to share research data

Jane Eyring works for PharmaMeds, Inc.Jane is a physician-scientist who is responsible for running the pilot tests on PharmaMed's new oral spray medication for individuals with adult onset diabetes. Jane has discovered that if those in the test group do not spray the medicine correctly or if they spray for too short

The implied warranty of fitness for a particular purpose requires reliance by the buyer on the seller's expertise. a. True b. False Answer: True Answer: True Answer: True Agents are liable to principals for negligence in performing their duties. a. True b. False Answer: True Answer: True Answer: True Limited partners can consult and advise with the general partner and still retain

The U.S. Department of Agriculture (USDA) approved an application from Monsanto to plant genetically engineered alfalfa seeds that resist Monsanto's Roundup herbicide. Several environmental groups brought suit to stop the planting because the USDA did not complete an EIS in carving out an exception for genetically engineered crops. The fear is

Predatory pricing is: a. pricing below cost. b. per se illegal. c.price discrimination. d.none of the above Answer: a Answer: a Answer: a Which of the following is not an element of the crime of embezzlement? a. intent to take property b. taking property permanently c. no authorization to take the property d.All of the above are elements of embezzlement. Answer: d Answer:

Most companies have its employees sign non-disclosure agreements to try to insure silence when the employee no longer works there. a. True b. False Answer: True Answer: True Answer: True A horizontal merger is a merger among competitors. a. True b. False Answer: True Answer: True Answer: True The Corruptions Perceptions Index compiled by Transparency International: a. shows that all countries' governments are

Foreign businesses engaging in commercial activity in the United States are not subject to U.S. antitrust laws. a. True. b. False Answer: False Answer: False Answer: False Corporations cannot make political contributions because of First Amendment constraints. a. True b. False Answer: False Answer: False Answer: False In mediation, the disputing parties use a third party as a go-between to facilitate negotiations. a.

The Family Medical and Leave Act provides twelve weeks of paid leave in certain circumstances. a. True b. False Answer: False Answer: False Answer: False A summons is served on a defendant and a subpoena is served on a witness. a. True b. False Answer: True Answer: True Answer: True An employee who uses his or her company e-mail system to communicate

Which of the following phrases is an express warranty? a. "boned chicken" b. "Maine's finest" c."Best in the West" d.All of the above are express warranties. Answer: a Answer: a Answer: a The Fair Labor Standards Act is often called the minimum wage law. a. True b. False Answer: True Answer: True Answer: True Which of the following is not a requirement of mensrea?

Citations are a form of legal shorthand for referring to statutes, ordinances, and cases. a. True b. False Answer: True Answer: True Answer: True When Hilton Hotels hired Ross Klein and Amar Lalvani from Starwood Hotels, Klein and Lalvani took many electronic documents with them from Starwood.What they did was simply good business and presented no

Janet Kennedy has received a letter in the mail from BISA International, a credit card firm. The letter describes the card as follows: "This card is yours for only a small annual fee that is billed to your account. There is an annual percentage rate finance charge of 16.5%. There may be

Goods sold by an authorized dealer beyond the dealer's authorized territory or quantity are: a. knockoff goods. b. gray market goods. c.infringed goods. d.none of the above Answer: b Answer: b Answer: b The Sotheby's Christie's case illustrates, among other things, that companies will sacrifice its employees to save the company. a. True b. False Answer: True Answer: True Answer: True Equitable remedies are not

Insider trading rules apply to information exchanged over the Internet and chat rooms. a. True b. False Answer: True Answer: True Answer: True SOX is the shorthand for the Sarbanes-Oxley business crime legislation. a. True b. False Answer: True Answer: True Answer: True Under federal law, ISPs are not permitted to disclose your identity when someone asks for the actual name behind

Sarbanes-Oxley is the most extensive regulation of companies since the 1933 and 1934 Securities laws. a. True b. False Answer: True Answer: True Answer: True The Americans with Disabilities Act applies to all employers. a. True b. False Answer: False Answer: False Answer: False Enforcement of federal administrative regulations: a. is a function of the executive branch. b. is a function of the Justice

Arleen Ray is starting a new business. She will operate a children's clothing store and will need to cover the store with sales help from 10:00 AM to 9:00 PM Monday through Friday and from 1:00 PM to 6:00 PM on Saturdays and Sundays. She has several questions about her yet-to-be

Which of the following is correct? a. The merger proposed is a vertical one. b. The merger proposed is a horizontal one. c.The merger is simply an asset acquisition. d.The merger is exempt under the failing company doctrine. Answer: b Answer: b Answer: b Lowe's advertised a barbeque grill for $99 in its newspaper ad. When the Smith's

Both formal and informal rulemaking processes include public hearings. a. True b. False Answer: False Answer: False Answer: False Under the FOIA, agencies are not permitted to charge for copying costs. a. True b. False Answer: False Answer: False Answer: False The assignment of limited partnership interests: a. is prohibited by the ULPA. b. may be a sale of securities subject to federal regulation. c.is

The Oil Pollution Act creates a trust fund for oil spill cleanup. a. True b. False Answer: True Answer: True Answer: True Which of the following is correct about inpersonamjurisdiction? a. The courts of Missouri would have jurisdiction over the case because Bassett did business on a regular basis with a Missouri company. b. The courts of

The Pension Reform Act requires all employers to have pension plans for their employees. a. True b. False Answer: False Answer: False Answer: False Notice of a proposed federal regulation in The Federal Register need not contain: a. the name of the proposing agency. b. the statutory authority for promulgating the rules. c. the environmental impact of the proposal. d.

Which of the following terms is not an express warranty? a. "nonskid" b. "nonbreakable" c."shelled" d.All of the above are express warranties. Answer: d Answer: d Answer: d Under SarbanesOxley, audit committees of publicly held companies' boards need not be made up of independent members so long as the majority of the board is independent. a. True b. False Answer: False Answer:

"Jordache" was a trademark for designer jeans that were popular in the 1980s. A manufacturer that produced jeans for largersized women named their jean product "Lardashe" and used a smiling pig as part of its logo with its name. The Jordache Company brought suit against Lardashe for trademark infringement. Which

Once a U.S. company has a registered trademark in the United States, it can register that trademark in the 60 other countries who are signatory countries of the Madrid Protocol. a. True b. False Answer: True Answer: True Answer: True Upon termination of both limited and general partnerships, outside creditors have first priority in terms of

Which is not a role administrative agencies play? a. rule making b. enforcement c. adjudication d. Administrative agencies play all of the above roles. Answer: c Answer: c Answer: c Closing arguments are: a. presented by the judge. b. part of the jury instructions. c.presented by the plaintiff's attorney only. d.none of the above Answer: d Answer: d Answer: d An acceptance by a merchant

Jim Ream is a freshman at Woise State. Jim is a computer whiz and has found a way to download movies from DVDs and then transfer the files to others. "But, Jim," you tell him, "that Grokster thing made all that illegal." Jim responds, "That was music, this is movies.

Under CARD, colleges and universities must: a. disclose financial relationships with the credit card companies. b. provide debt counseling for students. c.limit locations for student solicitation for credit cards. d.do all of these. Answer: d Answer: d Answer: d Which of the following is not an example of a law that promotes order? a. disclosure statutes for securities sales b.

The "likelihood of confusion" standard is used: a. in copyright cases. b. in patent cases. c.in trademark infringement cases. d.none of the above Answer: c Answer: c Answer: c Only consumers have rights of comment during the public comment period. a. True b. False Answer: False Answer: False Answer: False The Age Discrimination Act protects those who are 40 to 75 years old. a. True b.

Which of the following is correct about Lakes' policy on Facebook access? a. The monitoring may be overly broad. b. The monitoring may be prohibited in certain states. c.The monitoring policy may not fit within current legal standards. d.The monitoring is not permitted. e. a, b, and c Answer: e Answer: e Answer: e A Subchapter S or S

There can be infringement of patents, copyrights, trademarks, trade names and trade dress. a. True b. False Answer: True Answer: True Answer: True McCain-Feingold refers to the Bipartisan Campaign Reform Act of 2002. a. True b. False Answer: True Answer: True Answer: True Warrants are not required in cyberspace. a. True b. False Answer: False Answer: False Answer: False Suggested retail prices sent to retailers by the manufacturer

Competition among Colgate, Crest, and Aim toothpastes is: a. intrabrand competition. b. interbrand competition. c.controllable through resale price maintenance. d.none of the above Answer: b Answer: b Answer: b Express warranties cannot be disclaimed. a. True b. False Answer: True Answer: True Answer: True Directors A and B of a large, publicly traded company filed advance reports of their plans to sell stock.

Unemployment benefits are not collectable when: a. an employee leaves a job voluntarily because of pregnancy. b. an individual is involuntarily terminated from his/her job. c.you are seeking employment. d.none of the above Answer: a Answer: a Answer: a Rent-a-judge hearings are private hearings arranged by the parties to a dispute. a. True b. False Answer: True Answer: True Answer: True Which of the

Business ethics provides a guarantee of profitability. a. True b. False Answer: False Answer: False Answer: False With respect to the facts in number 80, the newspaper ad: a. is an offer. b. is not an offer. c.is a merchant's firm offer. d.cannot be revoked. e. none of the above Answer: b Answer: b Answer: b Contracts for services are governed by the UC C. a. True b.

A suit against Wal-Mart alleges that only 14% of its store managers are women, but 70% of its hourly workers are women and 85-90% of its customer service managers are women. What will the plaintiffs need to establish that Wal-Mart has violated Title VII? a. That Wal-Mart has an adequate pool

"Negligence in the air" is the standard of liability the Palsgrafcase established. a. True b. False Answer: False Answer: False Answer: False The Superfund is available to private citizens through the filing of a lawsuit. a. True b. False Answer: False Answer: False Answer: False Specific performance is an equitable remedy. a. True b. False Answer: True Answer: True Answer: True The only remedy available for patent

To obtain the protections and benefits of the sentencing guidelines, companies must have some form of anonymous reporting. a. True b. False Answer: True Answer: True Answer: True Title VII discrimination provisions apply only to employers with 50 or more employees. a. True b. False Answer: False Answer: False Answer: False Cyberspace companies are exempt from the consumer privacy rules on

Which of the following is not a purpose of law? a. keeping order b. influencing conduct c.promoting equality d.providing compromises e. All of the above are purposes of law. Answer: e Answer: e Answer: e Which of the following parties would be liable for the clean-up costs at an EPA-designated Superfund site? a. current owner b. immediate past owner c.owner responsible for

The above book contract must be in writing to be valid. a. True b. False Answer: False Answer: False Answer: False Transmission of an NFL game to Canada by satellite is a violation of United States copyright laws. a. True b. False Answer: True Answer: True Answer: True The EPA provides incentives for both self-reporting and self-audits. a. True b. False Answer: True Answer: True Answer:

If a company challenges a penalty imposed by an administrative agency, which of the following is the correct order for its appeal? a. ALJ, agency commissioners, judicial challenge b. judicial challenge, ALJ, agency commissioners c. agency commissioners, ALJ, judicial challenge d. None of the above is in the correct order. Answer: a Answer: a Answer: a The

Which of the following defenses to negligence serves as a complete bar to recovery? a. comparative negligence b. contributory negligence c.both a and b d.none of the above Answer: b Answer: b Answer: b What might explain why the restaurant isn"t named in the lawsuit? a. The restaurant owes no duty of safety to customers. b. Restaurants are never liable

KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States -

66. Phil's Corner Mart is a convenience store and gasoline station. A representative from the Environmental Protection Agency (EPA) has just notified Phil that there is some leakage from his underground gasoline storage tanks. The EPA representative explains to Phil that he will be issuing a citation for violation

a. True b. False ANSWER: POINTS: DIFFICULTY: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: False 1 Moderate United States - BUSPROG: Analytic United States - OH - AICPA: BB-Legal Appropriation and Other Forms of Unfair Competition in Cyberspace Bloom's: Comprehension ANSWER: POINTS: DIFFICULTY: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: False 1

37. Employees are not required to give consent to employer access to their e-mails under the Stored Communications Act. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Employer, Employees,

64. A National Pollution Discharge Elimination Permit: a. permits the holder to discharge pollutants at its point source. b. permits the holder to discharge toxic pollutants. c. permits the holder to discharge pollutants after pretreatment. d. permits the discharge of smoke from utility plants equipped with scrubbers. ANSWER:

KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Air Pollution Regulation KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States -

1. Contracts for the sale of real property are governed by the Uniform Commercial Code. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Contract Law KEYWORDS: Bloom's: Application

66. The language "I offer to sell you my 1974 White Ford Torino" is: a. a valid offer. b. not a valid offer because it lacks a definite price. c. not a valid offer because there are no terms for payment. d. not a valid offer because it is oral.

106. The liability limitation for credit card holders who report a loss or theft is $50. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Controlling Credit Card Contracts KEYWORDS: Bloom's:

1. A contract with a minor is voidable at the minor's option. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Capacity KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy

70. A minor's right to disaffirm a contract is conditioned on: a. the ability to return the contract consideration. b. whether the minor misrepresented his/her age. c. a time limit of six months. d. none of the above ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States -

113. The failure to make a timely investigation into a consumer's question about his/her credit report is a violation of the FCRA. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS:

KEYWORDS: Bloom's: Application ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Negligence: A Second Tort for Product Liability KEYWORDS: Bloom's: Application ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE

1. Caveat emptor is a Latin term meaning "let the buyer beware." a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG:Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Development of Product Liability KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1

104. Arrion McClellan was using an underarm-aerosol deodorant one morning while smoking a cigarette. The deodorant had this warning in large letters on the side of the can: "DO NOT USE AROUND HEAT, FLAME OR WHILE SMOKING." The deodorant ignited McClellan's cigarette in her hand and the flames quickly

55. Goods sold by an authorized dealer beyond the dealer's authorized territory or quantity are: a. knockoff goods. b. gray market goods. c. infringed goods. d. none of the above ANSWER: b POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS:

1. All WTO members follow the 20-year period of patent protection. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Patents KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1

1. Covenants not to compete are illegal per se. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: What Interferes with Competition? Covenants Not to Compete KEYWORDS: Bloom's:

121. Coca-Cola, Inc. and PepsiCo, Inc. have only one distributor each in the Phoenix area. The Phoenix market is an intensely competitive soft drink market with prices being among the lowest in the nation. A local restaurateur has requested a dealership from PepsiCo and has been denied. He claims an

72. Manufacturers who refuse to deal with retailers who do not charge a suggested retail price have committed a per se violation of the antitrust laws. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United

1. The presence of a master-servant relationship determines whether or not a principal must pay wage taxes and withhold income taxes. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA:

94. Jan hires Duncan to act as her agent in acquiring some property for the development of a new subdivision she is planning that will be an elegant planned community. Jan instructs Duncan that he is not to say he is working for her or, for that matter, that

68. If the act of an agent is ratified: a. there is retroactive authority for the act. b. the principal has agreed to allow the agent to be liable. c. the agent then has express authority for that act in the future. d. none of the above ANSWER:

75. Enrons off-the-book financings consisted mostly of LLCs and LLPs. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Limited Liability Companies KEYWORDS: Bloom's: Knowledge ANSWER: True

KEYWORDS: Bloom's: Knowledge ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Limited Liability Companies KEYWORDS: Bloom's: Knowledge ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG:

a. True b. False ANSWER: POINTS: DIFFICULTY: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: False 1 Moderate United States - BUSPROG: Analytic - BUSPROG: Analytic United States - OH - AICPA: BB-Legal Partnerships Bloom's: Comprehension ANSWER: POINTS: DIFFICULTY: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: False 1 Moderate United States - BUSPROG:

1. The states did not have federal legislation prior to the time of the federal securities laws. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: State Securities

POINTS: DIFFICULTY: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: 1 Moderate United States - BUSPROG: Analytic - BUSPROG: Analytic United States - OH - AICPA: BB-Legal Shareholder Rights in Takeovers, Mergers, and Consolidations Bloom's: Knowledge ANSWER: b POINTS: DIFFICULTY: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: 1 Moderate United States - BUSPROG:

79. Shareholders who solicit proxies need not comply with Section 14 of the 1934 Act. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Regulating Voter Information

1. Business ethics provides a guarantee of profitability. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Ethics STATE STANDARDS: United States - OH - AICPA: BB-Critical Thinking TOPICS: Why Business Ethics? KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL

71. Which of the following is not a consequence of poor ethical choices by company? a. loss of reputation b. loss of earning power c. additional regulation d. All of the above are consequences of poor ethical choices. ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States

KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: The Fair Labor Standards Act (FLSA) KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG:

73. ERISA: a. requires all employers to have a pension plan. b. dictates the types of investments employers can make with pension plan funds. c. regulates employer-sponsored pension funds. d. none of the above ANSWER: c POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic -

65. The prohibitions on sex discrimination apply only to: a. job hiring decisions. b. promotions. c. wage increases. d. a, b, and c e. none of the above ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic - BUSPROG: Analytic STATE STANDARDS: United States

1. The Equal Pay Act addressed only the issue of wage discrimination. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Diversity STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Equal Pay Act of 1963 KEYWORDS: Bloom's: Comprehension ANSWER: True

1. A trial court generally has three judges who preside in a case. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Trial Courts KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1

NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: United States - BUSPROG: Analytic United States - OH - AICPA: BB-Legal The Federal Court System Bloom's: Comprehension ANSWER: c POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: United States - BUSPROG: Analytic United States - OH - AICPA: BB-Legal The Federal

KEYWORDS: Bloom's: Comprehension ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: The Complaint KEYWORDS: Bloom's: Comprehension ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH

114. Sanctions for discovery abuse: a. are payments or a type of fine or penalty for not disclosing evidence. b. are unconstitutional. c. cannot include cash payments. d. none of the above ANSWER: a POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United

75. A counterclaim is: a. made by a defendant. b. part of the complaint. c. part of the interrogatories. d. none of the above ANSWER: a POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: How

1. Article I of the U.S. Constitution establishes the executive branch of government. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: The U.S. Constitution KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS:

95. Which areas of commercial speech are fully and constitutionally regulated? a. political donation b. corporate campaigns on issues with referenda c. speech on social issues d. All of the above are fully and constitutionally regulated. ANSWER: a POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG:

63. Corporate political speech: a. enjoys full First Amendment protection. b. can be regulated. c. can be prohibited. d. none of the above ANSWER: a POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: First Amendment

KEYWORDS: Bloom's: Comprehension ANSWER: a POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Freedom of Information Act (FOIA) KEYWORDS: Bloom's: Comprehension ANSWER: a POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United

KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: What are Administrative Agencies? KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States

106. What is the effect of a consent decree? a. The agency's charges are dismissed with no sanctions. b. The party makes no admissions as to conduct. c. There is still judicial appeal from a consent decree. d. It is no longer available under the Regulatory Flexibility Act. e.

53. The government of Argentina has taken over all the country's banks. No compensation has been paid. Some U.S. citizens and businesses had accounts in the banks. Absent treaty provisions the takeover: a. can be set aside by a U.S. federal court because no compensation was paid. b. can

1. The U.S. system of law is based primarily on code law. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of International Law KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS:

KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Computer Crime KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH

POINTS: DIFFICULTY: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: 1 Moderate United States - BUSPROG: Analytic United States - OH - AICPA: BB-Legal Racketeer Influenced and Corrupt Organization Act (RICO) Bloom's: Application ANSWER: a POINTS: DIFFICULTY: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: KEYWORDS: 1 Moderate United States - BUSPROG: Analytic United States

104. A retail store: a. has no duty to protect customers from criminal conduct by third parties. b. owes its customers duties as licensees. c. owes its customers duties as invitees. d. need not protect its customers against problems it has knowledge of. ANSWER: c POINTS: 1 DIFFICULTY:

1. A tort is a private wrong carrying criminal penalties. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: What is a Tort? Roots of Law and Commerce KEYWORDS: Bloom's: Comprehension

72. Defamation cannot exist in cyberspace because there is no evidence that someone heard or understood the statements. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Defamation KEYWORDS: Bloom's:

When a case is remanded, the lower court must conduct additional proceedings. a. True b. False Answer: True Answer: True Answer: True Under Sarbanes-Oxley, current employees are not considered independent for purposes of board structure. a. True b. False Answer: True Answer: True Answer: True There are both federal and state anticyberstalking laws. a. True b. False Answer: True Answer: True Answer: True Sarah Sajak was sexually harassed

A witness in a high profile criminal trial is a public figure. a. True b. False Answer: True Answer: True Answer: True The SEC prohibits an analyst from issuing a report that is contrary to the analyst's true opinion about a security. a. True b. False Answer: True Answer: True Answer: True Wages and hours are examples of mandatory subjects for good-faith

How would the city have discovered the PCE on the property prior to its valuation for condemnation? a. Through inspection of the property and the presence of a dry-cleaning establishment. b. Through land records tracing ownership of the dry-cleaning establishment. c.Through soil tests. d.all of the above Answer: d Answer: d Answer: d The income of the sole

The CISG: a. is the contract law of the EU. b. is part of GATT. c. was drafted by a commission of the United Nations. d. has been adopted in virtually every nation. Answer: c Answer: c Answer: c The solicitation of credit card customers is not regulated by the federal government. a. True b. False Answer: False Answer: False Answer: False A

What authority would the state of Arizona claim for passing a mandatory seat belt law requiring anyone traveling in Arizona to put on his/her seat belt? a. preemption clause b. police power c. the nexus power d. none of the above Answer: b Answer: b Answer: b Laddering is a safe-harbor section of the 1934 Act. a. True b. False

Transfer restrictions: a. must be noted on the stock to be valid. b. are generally valid only in family-owned corporations. c.cannot be used to satisfy SEC restrictions. d.none of the above Answer: a Answer: a Answer: a The EPA's emissions offset policy: a. is used in water pollution issues. b. does not include the "bubble concept." c.is not technology-forcing. d.none of the

Limitations on bidding are permitted in professional bids such as in architecture and service contracts. a. True b. False Answer: False Answer: False Answer: False An agreement among competitors for elimination of bidding is a violation of federal antitrust laws. a. True b. False Answer: True Answer: True Answer: True Alpha Enterprises sent an offer to Omega Enterprises. The offer read as

Who conducts cross-examination when the defendant is presenting its case? a. the defendant because the defendant always does cross-examination b. the plaintiff c.the judge because the burden of proof has shifted d.none of the above Answer: b Answer: b Answer: b Early neutral evaluation is a means of alternative dispute resolution used prior to discovery. a. True b. False Answer: True Answer:

Sexual harassment is a form of interpersonal as well as organizational abuse. a. True b. False Answer: True Answer: True Answer: True Anna feels, after negotiating her first few plumbing contracts, that there is a pricing conspiracy involving other plumbing contractors that keeps her from really breaking into the market. Her business is located in Tempe,

RICO applies only to repeat offenders. a. True b. False Answer: True Answer: True Answer: True Misuse of a product is a defense in a product liability suit. a. True b. False Answer: True Answer: True Answer: True Which of the following is not required for the articles of incorporation? a. names of incorporators b. capital stock structure c.names of board members d.All of the above

Voirdireis: a. the process for screening prospective jurors. b. the same as venue. c.used if peremptory challenges are planned. d.the same as a judgment NOV. e. none of the above Answer: a Answer: a Answer: a The Norris-LaGuardia Act is: a. also known as the Anti-Injunction Act. b. is the National Labor Relations Act. c.was declared unconstitutional. d.none of the above Answer:

Interrogatories are given under oath. a. True b. False Answer: True Answer: True Answer: True The corporate sentencing guidelines provide a mathematical formula for determination of corporate sentences for crimes. a. True b. False Answer: True Answer: True Answer: True If privacy is an important requirement for resolution of a company's disputes, which of the following methods would you recommend? a. mediation b. rent-a-judge c.arbitration d.All

The term "AS THEY STAND" serves to disclaim: a. the implied warranty of merchantability. b. the implied warranty of fitness for a particular purpose. c.both a and b d.none of the above unless it is in writing Answer: c Answer: c Answer: c A primary offering is a first-time offering of shares for sale. a. True b. False Answer: True Answer: True Answer:

Most-favored-nation status is: a. part of the GATT treaty. b. part of United States' trade policy only. c. is only part of EU governance. d. none of the above Answer: a Answer: a Answer: a Federal agencies are exempt from Title VII. a. True b. False Answer: True Answer: True Answer: True A reversible error is: a. any mistake made in a case. b.