Business and Society
Pre-Test Questions
Course Introduction
Business and Society explores the dynamic relationship between companies and the broader world in which they operate. The course examines how social, ethical, environmental, legal, and political factors influence business decision-making and strategy. Students learn about corporate social responsibility, stakeholder management, sustainable business practices, and the evolving expectations for ethical leadership. By analyzing case studies and current events, the course challenges students to assess the impact of business activities on society and consider ways organizations can contribute positively to social and environmental well-being while achieving their business goals.
Recommended Textbook
Business Law Text Cases An Accelerated Course 14th Edition by Roger LeRoy Miller
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19 Chapters
1368 Verified Questions
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Page 2
Chapter 1: Law and Legal Reasoning
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Sample Questions
Q1) The common law is a term for the laws that are familiar to most of us.
A)True
B)False
Answer: False
Q2) Administrative law consists of the rules, orders, and decisions of administrative agencies.
A)True
B)False
Answer: True
Q3) "UCC 2-207(1)" is a citation to Uniform Commercial Code Section 2-207, subsection 1.
A)True
B)False
Answer: True
Q4) The party against whom a lawsuit is brought is the plaintiff or petitioner.
A)True
B)False
Answer: False
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Chapter 2: Business and the Constitution
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Sample Questions
Q1) State laws protect individuals' privacy rights.
A)True
B)False
Answer: True
Q2) Chun operates Fresh Spring Fruits, a small market stocked entirely with produce grown on his farm. Under what clause of the Constitution can the federal government regulate Chun's activities? What is Chun's best argument against federal regulation of his farm and business?
Answer: According to decisions by the United States Supreme Court, under the commerce clause, Congress has the power to regulate any activity-interstate or intrastate-that affects interstate commerce. Thus, under that clause, it could be argued that a farmer's growing and selling of produce is subject to federal regulation because these activities affect interstate commerce.?The farmer-vendor's best argument against federal regulation of his farm and business in this problem might be that in his case these activities and their effects are purely local. But because of the economic character of these activities, and hence their effect on interstate commerce, however minimal and despite their local character, it is unlikely that a court would accept this argument.
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Page 4
Chapter 3: Courts and Alternative Dispute Resolution
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Sample Questions
Q1) The case of Max v. National Credit Co. is heard in a trial court. The case of O! Boy! Ice Cream Co. v. Pecan Corp. is heard in an appellate court. The difference between a trial and an appellate court is whether
A) a trial is being held.
B) the court is appealing.
C) the parties question how the law applies to their dispute.
D) the subject matter of the case involves complex facts.
Answer: A
Q2) As a judge in a federal court, Elena can decide, among other things, whether the laws or actions of the executive and legislative branches are constitutional. The process for making this determination is known as
A) judicial review.
B) jurisdiction.
C) jurisprudence.
D) justifiability.
Answer: A
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Chapter 4: Tort Law
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Sample Questions
Q1) The taking of electronic records and data can form the basis of a conversion claim.
A)True
B)False
Q2) Felix tells Genie, a prospective tenant, that the roof of the Hillside Apartments building does not leak when Felix knows that it does. This may give rise to an action for fraud, because the statement is one of A) puffery.
B) fact.
C) illusion.
D) opinion.
Q3) Basil, a clerk at Cycle World, takes a bicycle from the store without the owner's permission. Basil is liable for conversion
A) if he damages the bicycle.
B) if he does not have a good reason for taking the bicycle.
C) if he fails to prevent a theft of the bicycle from his possession.
D) under any circumstances.
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Chapter 5: Criminal Law and Cyber Crime
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Sample Questions
Q1) Berto pushes Consuela to the ground, grabbing her smartphone as she falls. The use of force or fear is required for this act to constitute A) burglary.
B) any crime.
C) larceny.
D) robbery.
Q2) Bond, the owner of CinePlex, trusts Dex to manage the theater's daily cash flow. One night, without Bond's knowledge or consent, Dex takes and keeps $1,000 from the receipts. This is most likely A) embezzlement.
B) larceny.
C) robbery.
D) burglary.
Q3) In a criminal case, the state must prove its case by a preponderance of the evidence.
A)True
B)False
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Chapter 6: Business Ethics
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Sample Questions
Q1) Few companies provide any kind of support such as ethical training programs to make their ethical codes more effective.
A)True
B)False
Q2) Brick & Mortar Construction & Masonry Corporation's ethics committee is asked a question: Should the firm bid low to obtain a contract that it knows it can fulfill only at a higher price? A practical method of investigating and answering this question involves all of the following steps except
A) absolution.
B) decision.
C) inquiry.
D) justification.
Q3) Bribery of foreign government officials is both an ethical and a legal issue.
A)True
B)False
Q4) Management's behavior sets the ethical tone of a firm.
A)True
B)False
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Page 8
Chapter 7: Nature and Terminology
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Sample Questions
Q1) An unenforceable contract is one that cannot be enforced because of certain legal defenses against it.
A)True
B)False
Q2) In contract law, intent is determined by the subjective theory of contracts.
A)True
B)False
Q3) An executed contract is one that has been fully performed.
A)True
B)False
Q4) When a contract's writing is not clear, a court will not consider evidence outside the contract to interpret its terms.
A)True
B)False
Q5) A contract is an agreement that can be enforced in court. A)True
B)False
Q6) In an express contract, the terms are fully and explicitly stated in words. A)True
B)False
Page 9
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Chapter 8: Agreement in Traditional and E-Contracts
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Sample Questions
Q1) An expression of opinion-"this is excellent"-is an offer.
A)True
B)False
Q2) A statement of future intent-"I plan to sell my car"-is an offer.
A)True
B)False
Q3) If no time for acceptance is specified in an offer, the offer terminates after a reasonable length of time.
A)True
B)False
Q4) An offer may invite an acceptance to be worded in specific terms but that cannot make the contract definite.
A)True
B)False
Q5) An e-contract must meet the same basic requirements as those required of a paper contract.
A)True B)False
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Chapter 9: Consideration, Capacity, and Legality
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Sample Questions
Q1) Stephen offers Theresa $1,000 for her collection of rare coins. She accepts. If a dispute arises, a court would likely
A) enforce the deal after questioning the adequacy of consideration.
B) not question the adequacy of the consideration.
C) rewrite the deal after questioning the adequacy of consideration.
D) set aside the deal after questioning the adequacy of consideration.
Q2) Even in states that permit certain types of gambling, courts find that gambling contracts are illegal.
A)True
B)False
Q3) While biking, Jolene is injured when Kirby carelessly causes them to crash. Kirby's insurance company offers Jolene $50,000 to release Kirby from liability, and she accepts. Later, Jolene learns that her injuries are more serious than she realized. The release is A) enforceable.
B) unenforceable because Jolene's injuries are unforeseeably difficult.
C) unenforceable because Kirby has a preexisting duty to pay.
D) unenforceable because the release is an illusory promise.
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Chapter 10: Defenses to Contract Enforceability
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Sample Questions
Q1) Refer to Fact Pattern 10-1. If Doyle and Ezra are both ignorant of the mistake, it is
A) a bilateral mistake.
B) a fraudulent misrepresentation.
C) a unilateral mistake.
D) unconscionable.
Q2) Misrepresentation cannot occur by silence.
A)True
B)False
Q3) Hal's Hardware Inc. and Ideal Tools Corporation sign a written contract for a sale of goods. To be enforceable, this written contract must include
A) a correct title, such as "Purchase Order" or "Sales Invoice."
B) a date, such as "October 2017" or "10/2017."
C) a quantity term, such as "50 hammers" or "100 boxes of assorted nails."
D) the parties' contact information.
Q4) Any party who does not receive what he or she considers a fair bargain can rescind the deal on the basis of mistake.
A)True
B)False
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Page 12
Chapter 11: Third Party Rights and Discharge
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Sample Questions
Q1) Market Company and Nick enter into a contract for Nick to cut and trim the landscaping around Market's building before a meeting of the company's sales staff. When Nick's schedule conflicts, his transfer of the duties of cutting and trimming to Otis is A) a delegation.
B) an assignment.
C) a third party beneficiary contract.
D) prohibited.
Q2) Privity of contract establishes the basic concept that third parties have no rights in contracts to which they are not parties.
A)True
B)False
Q3) An intended beneficiary can sue directly to enforce a promisor's promise.
A)True B)False
Q4) If no time for performance is stated in a contract, a reasonable time is implied. A)True
B)False
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Chapter 12: Breach of Contract and Remedies
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Sample Questions
Q1) Sara contracts to work exclusively for Thermal Company during July for $5,000. On June 30, Thermal cancels the contract. Sara finds a similar job for the month of July but earns only $3,000. Sara files a suit against Thermal. As compensatory damages, Sara can recover
A) $3,000.
B) $2,000.
C) $1,000.
D) $0.
Q2) Ordinarily, the remedy for a seller's breach of a contract for a sale of real estate is specific performance.
A)True
B)False
Q3) Copper Circuit, Inc., and Direct Electric LLC sign an agreement that provides for the payment of "$1,000 by whichever party commits a material breach of the contract that creates damages difficult to estimate but approximately $1,000." This is
A) a liquidated damages clause.
B) a nominal-damages clause.
C) a waiver-of-breach clause.
D) a penalty clause.
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Page 14
Chapter 13: Intellectual Property Rights
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Sample Questions
Q1) Li'l Canine Company (LCC) uses a trademark that neither LCC nor anyone else has registered with the government. Under federal trademark law, LCC
A) can register the mark for protection.
B) cannot register a mark that has been used in commerce.
C) has committed trademark infringement.
D) must put off registration until the mark is out of use for six months.
Q2) Gro, Inc., makes genetically modified seeds with properties that are identical to Harvest Corporation's patented seeds, without Harvest's permission. This is most likely A) copyright infringement.
B) patent infringement.
C) trademark infringement.
D) not infringement.
Q3) Protection of trade secrets extends both to ideas and to their expression.
A)True
B)False
Q4) Counterfeit goods are in fact sometimes genuine.
A)True
B)False
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Chapter 14: Internet Law, Social Media, and Privacy
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Sample Questions
Q1) No federal court has held that digitally sampling a copyrighted sound recording of any length constitutes copyright infringement.
A)True
B)False
Q2) Prodigious Profit, LLC, and other companies operate social media Web sites, issue apps for mobile devices, obtain ad revenue from search engines, and sell directly to consumers from other sites. The privacy rights of the users of these products are frequently defined, not by the courts or legislatures, but by A) the companies that own the sites and the apps.
B) retailers who have had to change their procedures to compete.
C) spammers, cybersquatters, and typosquatters.
D) Internet service providers.
Q3) The manufacture, import, sale, and distribution of devices or services for the circumvention of encryption software is prohibited.
A)True
B)False
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16
Chapter 15: The Formation of Sales and Lease Contracts
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Sample Questions
Q1) Over the course of a year, Retail Marketers, Inc., sells goods from its inventory and one of its warehouses. In exchange, Retail receives checks and other items that substitute for cash, which Retail uses to repay a loan from Savings Bank. Article 2 of the UCC governs
A) the checks.
B) the payment of the loan.
C) the sale of the buildings.
D) the sale of the goods.
Q2) Under the UCC, an offeree can accept an offer to buy goods by a prompt shipment of conforming goods.
A)True
B)False
Q3) A firm offer by a merchant may be oral.
A)True
B)False
Q4) A contract for the sale of minerals is considered to be a contract for the sale of goods if the severance is to be made by the seller.
A)True
B)False
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Chapter 16: Performance, Breach, and Warranties of Sales and Lease Contracts
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Sample Questions
Q1) Arnold buys a backhoe from Big Dig Equipment Inc. Arnold is unaware that Credit Collection Company holds a lien against the backhoe when he buys it. If Credit Collection repossesses the backhoe, Arnold can
A) recover from Big Dig for breach of warranty.
B) do nothing.
C) file criminal charges against Big Dig and Credit Collection.
D) recover damages from Credit Collection for breach of warranty.
Q2) Medical Supply Company and Health Care, Inc., enter into a contract for a sale of medical equipment and supplies. Under either a shipment contract or a destination contract, the seller must
A) allow the buyer to reject the goods for any reason.
B) deliver the goods to a particular destination.
C) place the goods into the hands of a carrier.
D) give the buyer any necessary documents of title.
Q3) The doctrine of commercial impracticability only extends to problems that are unforeseen.
A)True
B)False
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Chapter 17: Agency Relationships in Business
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Sample Questions
Q1) Vicarious liability is indirect liability.
A)True
B)False
Q2) An agency relationship is enforceable even if it is created for a purpose that is contrary to public policy.
A)True
B)False
Q3) Employers cannot avoid any tax liabilities by hiring independent contractors instead of employees.
A)True
B)False
Q4) Anything that an agent obtains by virtue of the agency relationship is his or hers to keep.
A)True
B)False
Q5) An agent's duties to the principal are implied from the agency relationship only if the identity of the principal is disclosed to a third party.
A)True
B)False
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Chapter 18: Small Businesses and Limited Liability Companies
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Q1) Any suit against the business or its employees can lead to unlimited personal liability for the owner of a sole proprietorship.
A)True
B)False
Q2) When lending capital to a small business, a bank may require a personal guaranty of its repayment from the owner.
A)True
B)False
Q3) Dissociation normally entitles the partner to buy his or her interest from the partnership.
A)True
B)False
Q4) When a limited liability company is dissolved, any member, including those who wrongfully dissociated, may participate in the winding up process.
A)True
B)False
Q5) A partner's profit from a partnership is taxed as income to the firm.
A)True
B)False
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Chapter 19: Corporations
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Sample Questions
Q1) Each director present at a board meeting has one vote.
A)True
B)False
Q2) In many states, close corporations have more flexibility in determining their rules of operation.
A)True
B)False
Q3) Express powers of a corporation can be found in state corporation statutes.
A)True
B)False
Q4) Ann is a corporate officer for Blooming Flora, Inc. As a corporate officer, Ann is
A) the head of the board of directors.
B) an employee of the firm.
C) the employer of the firm.
D) in charge of approving the shareholders.
Q5) Corporate officers are selected and removed by shareholders.
A)True
B)False
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