(Test Bank) Business: Its Legal, Ethical, and Global Environment

Jennings, 11

Business

Test Bank

11th Edition

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Test Bank for Business: Its Legal, Ethical, and Global Environment, The downloadable file consists of 714 pages, and the total size of the file is 8.89 MB. Purchase now only for highly discounted price.

Author(s): Jennings

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Business - It’s Legal Ethical, and Global Environment (10Ed.) Jennings T est Bank 1. Violations of civil laws can result in imprisonment. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge 2. If conduct is a criminal violation, it cannot also be a civil violation. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Comprehension 3. There are no criminal laws at the federal level. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge 4. Terms of a consulting contract are an example of private law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge 5. Substantive laws provide the means and mechanisms for the enforcement of laws. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge 6. Stare decisis is Latin for "let the decision stand." a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge 7. The common law in each state is the same. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge 8. Jurisprudence is legal philosophy. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: The Theory of Law: Jurisprudence KEYWORDS: Bloom's: Knowledge 9. Zoning laws are substantive only. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law Sources of Law KEYWORDS: Bloom's: Application 10. The scholars of jurisprudence generally agree on the theory of law. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: The Theory of Law: Jurisprudence KEYWORDS: Bloom's: Knowledge 11. Statutory law exists at all levels of government. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 12. The United States Code includes laws on anticompetitive activities as well as laws regulating the sale of securities. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 13. Ordinances are generally found in state legislative codes. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 14. The Code of Federal Regulations includes the enactments of federal administrative agencies. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 15. States do not have administrative laws. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 16. City ordinances generally cover the legal aspects of incorporation and securities registration. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 17. Citations are a form of legal shorthand for referring to statutes, ordinances, and cases. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 18. Constitutions exist at both state and federal levels. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 19. The Internal Revenue Code is part of federal statutory law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 20. Equitable remedies are not available in courts of law in the United States. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge 21. Laws' flexibility allow adjustments for technology changes. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Characteristics of Law KEYWORDS: Bloom's: Application 22. A personnel manual is an example of private law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Application 23. Union/management laws demonstrate the role of law as a compromiser. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Purposes of Law KEYWORDS: Bloom's: Application 24. Criminal laws are generally enforced by individuals. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Comprehension 25. A multilateral treaty is a treaty among several nations. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Knowledge 26. The act of state doctrine permits other countries to intervene in a nation's government when human rights are violated. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Analysis 27. The EU has its own currency. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Knowledge 28. The Uniform Commercial Code and the Uniform Partnership Act are both enactments of Congress. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 29. Party autonomy is not permitted in international contracts. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Knowledge 30. The EU will be disbanded in 2016. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Knowledge 31. Treaties are a source of international law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Knowledge 32. Custom has no impact on international law. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Knowledge 33. Once a court decision is issued, it cannot be reversed without legislative action. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Synthesis 34. A curfew is an example of the type of law that would be found in city or town ordinances. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 35. The uniform laws on partnerships and corporations are found codified in the United States Code. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Synthesis 36. There are agency regulations at both the state and federal levels. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 37. Courts create and apply the common law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Classifications of Law KEYWORDS: Bloom's: Knowledge 38. If you run a red light and hit and injure a pedestrian, both civil and criminal laws will apply. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Critical Thinking TOPICS: Classifications of Law KEYWORDS: Bloom's: Synthesis 39. Most countries follow a philosophy of caveat emptor . a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Knowledge 40. The Uniform Commercial Code (UCC) has been adopted in all 50 states. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 41. The CISG is another name for the UCC. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Introduction to International Law KEYWORDS: Bloom's: Knowledge 42. Scalping ordinances are an example of criminal laws. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 43. Context is a factor in types of legal systems. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 44. Courts interpret all levels of statutes and regulations. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law Classifications of Law KEYWORDS: Bloom's: Knowledge 45. Zoning is an example of private law. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 46. A question about a licensing exam for a real estate agent is best answered by going to federal laws. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Critical Thinking TOPICS: Sources of Law KEYWORDS: Bloom's: Application 47. Statutes that eliminate constitutional protections are still valid if they are federal statutes. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Synthesis 48. The U.S. Constitution does not apply to the states. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Comprehension 49. Judicial review is one means for clarifying the meaning of laws. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Application 50. 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 POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Purposes of Law KEYWORDS: Bloom's: Analysis | Bloom's: Comprehension 51. Several states have recently enacted legislation to permit casino gambling on river boats docked in their states. Gambling is permitted only while the boats are traveling in the rivers surrounding or inside the states. One governor issued the following statement: "It wouldn't matter how many gaming statutes are passed or how many legislatures passed them, the fact of the matter is that commercial gambling is wrong." This governor's views: a. indicate that he follows the positive law theory. b. indicate that he follows the natural law theory. c. indicate that he is against principles of justice. d. are most parallel to those of Oliver Wendell Holmes. ANSWER: b POINTS: 1 DIFFICULTY: Challenging NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Critical Thinking TOPICS: The Theory of Law: Jurisprudence KEYWORDS: Bloom's: Analysis 52. Bill Blackburn is the new mayor of Oceanside, Washington. He discovered that the city-run utility requires a deposit of $50 from new customers in homes. However, new customers who reside in apartments, condominiums, or townhouses must pay a $500 deposit. Mayor Blackburn proposed that the utility deposit be $100 for all new customers. Blackburn's change fits best under which theory of law? a. positive law theory b. natural law theory c. theory of justice d. theory of custom ANSWER: c POINTS: 1 DIFFICULTY: Challening NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Critical Thinking TOPICS: The Theory of Law: Jurisprudence KEYWORDS: Bloom's: Analysis 53. Which of the following is not an example of a law that promotes equality? a. employment discrimination laws b. antisegregation statutes c. Social Security statutes d. trespassing statutes e. All of the above laws promote equality. ANSWER: d POINTS: 1 DIFFICULTY: Challenging NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - OH - AICPA: BB-Critical Thinking TOPICS: Purposes of Law KEYWORDS: Bloom's: Analysis 54. Which is the proper cite for the Code of Federal Regulations? a. CFR b. USC c. USCFR d. none of the above ANSWER: a POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 55. Which of the following is not part of the United States Code? a. 1933 Securities Act b. Sherman Act c. Equal Employment Opportunity Act d. Uniform Commercial Code e. All of the above are part of the United States Code. ANSWER: d POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 56. Which is the proper cite for Executive Orders? a. CFR b. USC c. E.O.O.C. d. none of the above ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - OH - AICPA: BB-Legal TOPICS: Sources of Law KEYWORDS: Bloom's: Knowledge 57. The UCC has been adopted by: a. all 50 states. b. over half the states. c. 49 states.