BUS 61800

subject Type Homework Help
subject Pages 27
subject Words 4461
subject Authors Henry R. Cheeseman

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A person having origins in any of the original peoples of the Middle East belongs to the
Caucasian racial group.
An offering circular must be provided to the investors immediately after the purchase of
a Regulation A offering.
An ambiguity in a contract may constitute a mutual mistake of a material fact.
A principal is not bound to a contract made by an apparent agency.
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An agent who does not perform his or her express duties or fails to use the standard
degree of care, skill, or diligence is liable to the principal for damages.
After a witness is sworn in, he or she is immediately cross-examined by the plaintiff's
attorney.
The U.S. Department of Agriculture is the federal administrative agency that is
primarily responsible for regulating meat, poultry, and other food products.
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The duty of care for managers and members includes the duty not to usurp the LLC's
opportunities.
The name selected by a general partnership cannot indicate that it is a corporation.
The Fourth Amendment to the U.S. Constitution protects people from being tried twice
for the same crime.
Checks and balances built into the Constitution ensure that amendments to the
Constitution do not contradict existing laws.
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Regulation of mortgage lending comes under the purview of the Dodd-Frank Wall
Street Reform and Consumer Protection Act.
The Equal Protection Clause makes the classification of individuals based on their race
unlawful.
The person who is given a life estate is called the life tenant.
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The Fourth Amendment to the U.S. Constitution protects people from being tried twice
for the same crime.
Perfection of a security interest establishes the right of a secured creditor against other
creditors who claim an interest in the collateral.
The Establishment Clause guarantees that there will be no state-sponsored religion.
Generally Accepted Accounting Principles (GAAPs) specify the methods and
procedures that are to be used by public accountants when conducting external audits of
company financial statements.
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Third parties usually cannot sue accountants for breach of contract.
An LLC cannot amend its articles of organization.
Federal law allows for discovery of an accountant's work papers in a federal case
against the accountant's client.
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Negotiationis a procedure whereby the parties choose an impartial third party to hear
and decide the dispute.
The World Trade Organization (WTO) appellate body hears appeals that are limited to
issues of law, not fact.
The Analytical School of jurisprudence lays emphasis on how the result of a case is
reached rather than the logic of the result itself.
Voir dire is the process whereby the jurors ask prospective judges questions to
determine whether they would be biased in their decisions.
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Regulation A offerings can be sold without registration with the SEC provided that an
offering statement is provided prior to the purchase of the securities.
A defendant is protected by the Double Jeopardy Clause of the Fifth Amendment if his
or her case results in a hung jury.
The Equal Protection Clause of the Fourteenth Amendment provides that a state cannot
promote one religion over others.
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A network extension is a unique name that identifies an individual's or company's
website.
The corporate citizenship theory contends that corporations have to promote the same
social goals as individual members of the society.
English common lawwas law developed by judges who issued their opinions when
deciding cases.
In a sole proprietorship, the business is considered a separate legal entity.
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A principal can authorize an independent contractor to enter into contracts.
Marshall is a purchasing agent for DigitoolArt Corporation. His duties require him to
negotiate and execute contracts to purchase office supplies and equipment for the
corporation. Assume that Bronson, a computer sales representative, pays Marshall a
$20,000 kickback to purchase from him computers needed by DigitoolArt Corporation.
What breach of the duty of loyalty has Marshall committed here?
A) competing with the corporation
B) making a secret profit
C) self-dealing
D) usurping a corporate opportunity
A(n) ________ is an instrument that describes a person's ownership interest in a piece
of real property.
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A) indenture
B) deed
C) license
D) easement
Harrison hires an agent to look for a three-bedroom house in Atlanta. Elaine, the agent,
finds a three-bedroom house within Harrison's budget but buys it herself without
informing Harrison. This is an instance of the agent ________.
Richard Bell, an organized crime boss and casino owner, has made a lot of money with
his illegal drug operations and illegal gambling. In order to make it look like he earned
the drug money legitimately, Richard has hired crooks to take the illegal money and
spend it in Richard's casinos in discreet amounts. The crooks are supposed to lose the
money on purpose so that the casino can claim this as winnings. If he were caught,
under which federal law would Richard be tried for his mob activities?
A) Counterfeit Access Device and Computer Fraud and Abuse Act
B) Identity Theft and Assumption Deterrence Act
C) Racketeer Influenced and Corrupt Organizations Act
D) Information Infrastructure Protection Act
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The crime of ________ involves the obtaining of property from another, with his or her
consent, induced by wrongful use of actual or threatened force, violence, or fear.
A) embezzlement
B) bribery
C) money laundering
D) extortion
If an employer reasonably anticipates a strike by some of its employees, it may legally
arrange a(n) ________ to prevent these employees from entering the work premises.
A) strike
B) picket
C) employer lockout
D) secondary boycott
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The Employee Retirement Income Security Act (ERISA) is administered by the U.S.
Department of Labor.
Which of the following is true of a C Corporation?
A) It does not pay taxes at the corporate level.
B) Shareholders of such a corporation are not required to pay taxes on their dividends.
C) Any corporation with more than 100 shareholders is automatically a C corporation
for federal income tax purposes.
D) Nonresident aliens cannot be shareholders unless they demonstrate due diligence in
meeting federal requirements for residency status.
Chapter 7 of the Bankruptcy Code primarily deals with ________.
A) debt reorganization
B) adjustment of debts of a family farmer or fisherman with regular income
C) adjustment of debts of an individual with regular income
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D) liquidation
Which of the following steps immediately follows the publication of the environmental
impact statement (EIS) for a proposed project?
A) The U.S. Congress passes a bill adopting the EIS.
B) Environmentalists are allowed access to the EIS.
C) The government issues an order to proceed with federal action on the project,
consistent with the recommendations set forth in the EIS.
D) Interested parties are allowed to submit comments to the Environmental Protection
Agency (EPA).
Speech that incites the violent or revolutionary overthrow of the government is an
example of ________ speech.
A) limited protected
B) prohibited
C) unprotected
D) fully protected
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________ prescribes comprehensive and integrated rules of religious, political, and
legal life that together form Jewish thought.
A) The Qur'an
B) The Torah
C) Dharmasastra
D) Riba
A ________ is a tenancy created when a tenant retains possession of property after the
expiration of another tenancy or a life estate without the owner's consent.
A) tenancy for life
B) tenancy at will
C) tenancy at sufferance
D) tenancy for years
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Which of the following is true of Social Security?
A) The Social Security system operates like a savings account.
B) Current Social Security contributions are used to pay past and future Social Security
claims.
C) An employee must pay taxes into the Social Security fund, and the employee's
employer must pay a matching amount.
D) Self-employed individuals are exempt from making contributions to the Social
Security system.
Which of the following is true of the EEOC?
A) It can seek injunctive relief.
B) Its members are elected from state legislatures.
C) Its jurisdiction is limited to charges of racial discrimination.
D) A person should file a complaint with EEOC after filing a discriminatory lawsuit
against the employer.
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When does a patent enter the public domain?
A) when the patent term expires
B) when the patent has been challenged in court and found to be an infringement
C) when the government deems that the practical purpose of the invention is universally
applicable and cannot be controlled by one individual or a group of people
D) when the invention is either obvious or not a novel one
A(n) ________ test is applied to classifications of people based on a suspect class.
A) strict scrutiny
B) intermediate scrutiny
C) rational basis
D) cogent basis
How are ethical rules established in Rawls's social justice theory?
A) by establishing a set of universal rules based on consistency and reversibility
B) by establishing an original position of a veil of ignorance
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C) by the ruling class or people in advantageous positions
D) by following what's best for the society as a whole
The Inkilwas Corporation has 30,000 shares outstanding. A shareholders' meeting is
duly called to amend the company's articles of incorporation, and 17,501 shares are
represented at the meeting. If an amendment to the articles of incorporation is put to
vote at this meeting, which of the following statements is true in terms of passage of the
amendment?
A) The amendment will not pass, since all 30,000 outstanding shares must be
represented at the meeting in order to vote to amend the articles of incorporation.
B) The amendment will pass if all 17,501 shares represented at the meeting vote to
approve it.
C) The amendment will pass if 4,376 shares represented at the meeting vote to approve
it.
D) The amendment will pass if 8,751 shares represented at the meeting vote to approve
it.
A ________ is a cessation of work by union members in order to obtain economic
benefits or correct an unfair labor practice.
A) collective bargain
page-pf13
B) strike
C) crossover
D) persuasion
Ruggers is a maker of a range of highly popular cruise motorcycles. Tim buys a
Ruggers motorcycle from a dealership and suffers an accident. While recuperating from
his injuries, he learns that Ruggers has recalled all motorcycles it had manufactured and
sold in the previous two years, owing to a previously unknown defect in their braking
systems. Tim brings a product liability lawsuit against the motorcycle manufacturer and
claims $50,000 in damages. The defect in the motorcycle is found to be half responsible
for the accident, while Tim's own negligence of traffic rules contributed to the rest.
Under the doctrine of contributory negligence, what would be the ruling of the court
hearing this case?
A) Tim cannot recover any damages from the motorcycle manufacturer.
B) Tim can recover $25,000 worth of damages from the Ruggers and the rest from the
dealership from which he purchased the motorcycle.
C) Tim can recover $50,000 worth of damages plus any punitive damages that may be
awarded by the jury.
D) Tim can recover $50,000 worth of damages from the motorcycle manufacturer.
A ________ is a deceit in which an agent makes an untrue statement that he or she
page-pf14
knows is not true.
A) partially disclosed agency
B) misrepresentation
C) respondeat superior
D) dual-purpose mission
Sinbad Cola, a soft drink manufacturer, opened a plant in Buron. The waste from the
plant was released into the Buron Sea, which was situated a mile away from the plant.
Releasing the wastes into the sea resulted in water pollution and groundwater
contamination. The water pollution in turn negatively affected Buron's fishing business.
Sinbad Cola compensated for this by bringing the contamination levels down with
additional filters and paying for the damages to the local fisheries. Which theory of
business social responsibility did Sinbad Cola comply with when it compensated for its
harmful waste disposal methods?
A) moral minimum
B) stakeholder interest
C) corporate citizenship
D) maximizing profits
page-pf15
A jury that cannot come to a unanimous decision about the defendant's guilt is called
a(n) ________ jury.
A) grand
B) open
C) struck
D) hung
An agency by ratification occurs when the principal ________.
A) accepts an unauthorized act created by an unauthorized agent
B) accepts an authorized act created by an authorized agent
C) creates the appearance of an agency that in actuality does not exist
D) accepts an act carried out under the implied authority of an agent
________ requires securities offered to the public through the use of the mails or any
facility of interstate commerce to be registered with the Securities and Exchange
Commission (SEC) by means of a registration statement and an accompanying
prospectus.
A) Section 24 of the Securities Act of 1933
page-pf16
B) Section 12 of the Securities Act of 1933
C) Section 5 of the Securities Act of 1933
D) SEC Rule 506
Under which of the following transactions does title to goods pass from the seller to the
buyer?
A) an option contract
B) a rental agreement
C) a lease agreement
D) a contract for the sale of goods
The OSHA guidelines that set safety rules for specific equipment, procedures, types of
work, and unique work conditions are known as ________.
A) standards of wellness
B) specific duty standards
C) the code of direction
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D) general standards of work
A(n) ________ is a document for a person's detainment that is based on a showing of
probable cause that the person committed a crime.
A) arrest warrant
B) possessory warrant
C) no-knock warrant
D) execution warrant
The earnings and losses from a sole proprietorship are reported on ________.
A) the federal income tax filing document for sole proprietorships
B) the sole proprietorship business license that is renewed each year
C) the sole proprietor's personal income tax filing
D) the state income tax filing document for sole proprietorships
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A long-term debt security that is secured by some form of collateral is referred to as a
________.
A) treasury share
B) bond
C) note
D) debenture
Which of the following rights is set forth by the Sixth Amendment to the U.S.
Constitution?
A) protection against double jeopardy
B) right to due process
C) right to a public jury trial
D) privilege against self-incrimination
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To claim under disparate-treatment discrimination, the complainant must prove that
________.
A) he or she is physically challenged
B) he or she was rejected due to over-qualification
C) he or she belongs to a Title VII protected class
D) he or she is covered by Title I of the ADA
Distinguish between two-party and three-party secured transactions with examples.
page-pf1a
Give an account of the Law Merchant in early English common law.
According to Rawls's social justice theory, ________ is considered the essence of
justice.
Distinguish between limited protected speech and unprotected speech, as defined by the
U.S. Supreme Court.
page-pf1b
________ discrimination occurs when an employer discriminates against a specific
individual because of his or her race, color, national origin, sex, or religion.
The doctrine of ________ governed the law of sales and leases for centuries before the
UCC was adopted.
How does the Mortgage Reform and Anti-Predatory Lending Act of 2010 help regulate
mortgage transactions?
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The ________ is a principal's duty to cover the agent for any losses the agent suffers
because of the principal's conduct.
The term ________ refers to a security interest in property that was not in the
possession of the debtor when the security agreement was executed.
In a(n) ________ franchise, the franchisor provides a secret formula or the like to the
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franchisee. The franchisee then manufactures the product at its own location and
distributes it to retail dealers.
________ is a federal act that provides for both criminal and civil penalties for
racketeering.
Involuntary dissolution of a corporation that is ordered by the secretary of state if a
corporation has failed to comply with certain procedures required by law is known as
________.
Distinguish between disparate-treatment and disparate-impact discrimination.
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What is common stock? What are its features?
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What is intentional misrepresentation and what are the elements required to prove
fraud?
How is assault different from battery?
page-pf20
List the new protections for insured persons under the Health Care Reform Act of 2010.
How is power divided between the federal government and the state governments?
page-pf21
________ is discrimination against a group which is usually thought of as a majority.

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