Business and Society Test Bank
Course Introduction
Business and Society explores the complex relationship between commercial enterprises and the communities in which they operate, examining ethical, social, regulatory, and environmental challenges faced by organizations. The course delves into corporate social responsibility, stakeholder management, sustainable practices, and the impact of globalization, while encouraging students to critically analyze how businesses can contribute positively to society and address public concerns. Through case studies and contemporary issues, students gain an understanding of how ethical and strategic decisions affect a businesss reputation, legal standing, and long-term success.
Recommended Textbook
The Legal Environment of Business 13th Edition by Roger E. Meiners
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22 Chapters
9532 Verified Questions
9532 Flashcards
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Page 2
Chapter 1: Todays Business Environment: Law and Ethics
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327 Verified Questions
327 Flashcards
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Sample Questions
Q1) Making marijuana illegal in the United States and alcohol illegal in Saudi Arabia are both examples of:
A) how law applies to individuals and not to groups or society as a whole
B) how governments can use law to enforce different social norms
C) how formal law is respected in all nations
D) how law applies to both individuals and to groups equally
E) none of the other choices
Answer: B
Q2) For a person to be found guilty under a criminal statute, the jury must find the evidence presented demonstrates:
A) beyond all doubt that the person committed the crime
B) by a preponderance of the evidence that the person committed the crime
C) more than a modicum of doubt exists that the person committed the crime
D) res ipsa loquitur by the defendant
E) none of the other choices are correct
Answer: E
Q3) Common law in the U.S. has its origin in England.
A)True
B)False
Answer: True
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Chapter 2: The Court Systems
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431 Flashcards
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Sample Questions
Q1) Right of removal allows:
A) defendants to have a case removed to a federal court if concurrent jurisdiction exists
B) defendants to have a case rejected by a federal court if concurrent jurisdiction exists
C) defendants to have a court appointed lawyer
D) defendants to have multiple lawyers
E) defendants to have the plaintiff removed from the court room when the verdict is read
Answer: A
Q2) Cases come to the court of appeals when:
A) one of the parties to the litigation is not satisfied with a federal district court's decision
B) one of the parties to the litigation is a minor
C) one of the parties to the litigation is a minority
D) one of the parties to the litigation has a previous criminal record
E) none of the other choices are correct
Answer: A
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Chapter 3: Trials and Resolving Disputes
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509 Flashcards
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Sample Questions
Q1) Nominal damages are damages that are awarded for:
A) a violation that involves no actual damages to a person or property
B) a violation that damages persons or property
C) a violation that causes someone to become very ill
D) a violation that does not break any laws
E) none of the other choices are correct
Answer: A
Q2) Summary judgment:
A) can be granted, even if there are differences over what happened
B) can apply to all of the issues
C) can apply to only some of the issues
D) all of the other specific choices are correct
E) none of the other specific choices are correct
Answer: D
Q3) If a party to an arbitration agreement wants to avoid arbitration by going to court, a court may not force the party to arbitrate their claim.
A)True
B)False
Answer: False
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Page 5
Chapter 4: The Constitution: Focus on Application to Business
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445 Flashcards
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Sample Questions
Q1) The Fifth Amendment:
A) protects corporate executives from testifying against themselves
B) protects corporations against self-incrimination
C) protects businesses from warrantless searches
D) prohibits the seizing of private property by state governments
E) none of the other choices
Q2) Improperly gathered evidence violates:
A) Fourth Amendment rights regarding search and seizure
B) First Amendment rights regarding search and seizure
C) First Amendment rights regarding free speech
D) Sixth Amendment rights regarding property ownership
E) none of the other choices are correct
Q3) The Supreme Court held that warrantless searches are generally unreasonable in commercial as well a private settings, except for "closely regulated" businesses in:
A) New York v. Morriss
B) Marshall v. Barlow's
C) Dolan v. Tigard
D) First Evangelical Lutheran
E) Mulroney v. Hagar
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Chapter 5: Criminal Law and Business
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321 Verified Questions
321 Flashcards
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Sample Questions
Q1) If a person is arrested on suspicion of a crime, they are immediately taken to the grand jury for consideration for an indictment.
A)True
B)False
Q2) A grand jury:
A) determines probably cause
B) reviews past felony cases
C) determines guilt
D) determines how long the trial will take
E) none of the other choices are correct
Q3) When a person deals in a security when in possession of non-public information, and they have an obligation not to reveal or use the information it is:
A) embezzlement
B) racketeering
C) money laundering
D) insider trading
E) money fraud
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Page 7
Chapter 6: Elements of Torts
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Sample Questions
Q1) Gray was fired from AT&T for falsifying her own records. When she filed for unemployment compensation, AT&T told the company handling her claim why it had fired her. She sued AT&T for defamation. The court would likely find this to be defamation per se because such fraud is potentially a criminal offense.
A)True
B)False
Q2) The law permits certain defensive actions to be taken without incurring tort liability. Courts would be unlikely to allow which defensive actions?
A) shooting a man who is raping a woman at knife-point
B) shooting someone who attempts to steal your new Lexus
C) holding someone down who has hit your friend
D) grabbing and holding someone who attempts to steal your new Lexus
E) c and d
Q3) Res ipsa loquitur means "the thing has imposed harm."
A)True
B)False
Q4) New Zealand, which has an English law heritage, does not allow tort litigation.
A)True
B)False
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Chapter 7: Business Torts and Product Liability
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361 Verified Questions
361 Flashcards
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Sample Questions
Q1) Under the strict liability doctrine, the focus is on the problems with the product, rather than:
A) problems with the court process
B) integrity of the manufacturer
C) the rationality of the conduct of the manufacturer
D) the appropriateness of the conduct of the manufacturer
E) none of the other choices are correct
Q2) Negligence of other parties is irrelevant to the imposition of liability in ____ cases.
A) ultrahazardous activity
B) limited liability
C) misrepresentation
D) fraud
E) none of the other choices are correct
Q3) The Restatement (Third) of Torts on product defect recommends that a risk-utility balancing test be used.
A)True
B)False
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Chapter 8: Real and Personal Property
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287 Verified Questions
287 Flashcards
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Sample Questions
Q1) A profit is:
A) the right to remove valuable things from one's estate
B) the right to go on to an estate
C) the right to sell an estate
D) the right to buy an estate
E) the right of first refusal when an estate is sold
Q2) The law of torts recognizes two kinds of nuisances, these are:
A) personal and impersonal
B) business and personal
C) governmental and non-governmental
D) environmental and industrial
E) none of the other choices
Q3) Tenants may not:
A) engage in illegal activities on a leased property
B) be a nuisance to neighbors
C) remove valuable property from the premises
D) all of the other specific choices are correct
E) none of the other specific choices are correct
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Chapter 9: Intellectual Property
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Sample Questions
Q1) Once a word is registered as a trademark, it may not be used in commerce for any other good.
A)True
B)False
Q2) In Bowman v. Monsanto, where Bowman used Monsanto's patented Roundup Ready seeds and, in violation of the contract provided by Monsanto, kept seeds from his crop to use next year so that the seeds had the genetic composition of the Monsanto seeds. The Supreme Court held that Bowman violated the terms of purchase of a patented product.
A)True
B)False
Q3) The Copyright Office registers more than ____ copyrights annually.
A) 1 million
B) 2 million
C) 100,000
D) there are no statistics kept on how many copyrights are registered
E) none of the other choices are correct
Q4) About 45,000 copyrights in total are registered each year.
A)True
B)False
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Chapter 10: Contracts
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Sample Questions
Q1) A transfer of contract rights to a third party is a delegation.
A)True
B)False
Q2) An accord is an agreement by the parties to offer and accept some performance different from that originally bargained for. The actual performance of the new obligation is:
A) accord
B) termination
C) completion
D) finalization
E) none of the other choices are correct
Q3) An authoritative document that provides an orderly summary and presentation of the common law of contract is:
A) the Restatement (2d) of Contracts
B) the Contracts Commercial Code
C) Cohen on Contracts
D) the Statute of Frauds
E) the Federal Register
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Chapter 11: Domestic and International Sales
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424 Flashcards
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Sample Questions
Q1) A buyer and a seller would like to enter into a contract for the sale of goods. In his offer the buyer does not specify a price. The seller agrees with the arrangement.
A) under Article 2 there is a contract if the parties have done business before; price never need be specified in such instances
B) under the common law of contracts, but not the UCC, there is a contract because the parties intended to enter into a binding agreement even in the absence of the price term
C) there can be no contract under Article 2 or the common law when a major term is missing
D) there is no contract under Article 2 because "some of the offer's major terms were omitted or were simply left open for determination later"
E) none of the other choices
Q2) The title represents the:
A) age of a thing
B) bill of sale of a thing
C) legal value of a thing
D) legal rights to ownership of a thing
E) price of a thing
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Page 13
Chapter 12: Business Organizations
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Sample Questions
Q1) A shareholder of a corporation may not also be a creditor to the company, as there would be a conflict of interest.
A)True
B)False
Q2) When a court holds shareholders personally liable for corporate debts it is said to be:
A) "cutting the corporate veil"
B) "opening the corporate veil"
C) "closing the corporate veil"
D) "tearing the corporate veil"
E) none of the other choices are correct
Q3) Which of the following statements about a corporation is true? Corporations are not entitled to:
A) free speech
B) equal protection
C) right of access to courts
D) freedom from unreasonable searches and seizures
E) none of the other choices are true
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Chapter 13: Negotiable Instruments, Credit, and Bankruptcy
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535 Flashcards
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Sample Questions
Q1) Under the UCC, a secured party may repossess property only upon receipt of a warrant.
A)True
B)False
Q2) ____ are drafts that mature on the payment date set in the future.
A) Balloon drafts
B) Delayed drafts
C) Lapsed drafts
D) Real estate drafts
E) none of the other choices are correct
Q3) Credit terms must include:
A) the principal of a debt
B) the interest rate, if any, that applies
C) the payment dates
D) all of the other specific choices
E) none of the other specific choices are necessary, but are commonly used
Q4) Orders to pay include notes and certificates of deposit.
A)True
B)False
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Chapter 14: Agency and the Employment Relationship
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Sample Questions
Q1) A company hired independent contractors to sell their products door-to-door. One sales rep, who had a criminal history, assaulted a customer, who sued the parent company. The company was not liable because the sales rep was an independent contractor.
A)True
B)False
Q2) Ratification is an affirmation by the principal of an unauthorized agreement by a person acting as an agent with a third party.
A)True
B)False
Q3) An agency that is for the sale of land usually must be evidenced by a written contract.
A)True
B)False
Q4) An auctioneer is an example of a(n):
A) agent
B) employee
C) employee with agency powers
D) independent contractor
E) agent and independent contractor
Page 16
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Chapter 15: Employment and Labor Regulations
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539 Verified Questions
539 Flashcards
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Sample Questions
Q1) A major concern of businesses about substance abuse is that it leads to higher medical insurance costs.
A)True
B)False
Q2) Substance abuse directly affects employers through:
A) reduced productivity
B) higher medical insurance costs
C) increased productivity
D) employees failing to save for retirement
E) both a and b are correct
Q3) As illustrated by the Supreme Court ruling in the Beck case, where non-union workers at AT&T were required by a union to pay "agency fees," instead of union dues, to contribute to the expense of representing these workers in collective bargaining:
A) unions are free to use dues from members on political action
B) unions are not free to use due equivalents from nonmembers on political action
C) unions may never use any dues or agency fees for political action
D) unions may not require agency fees
E) unions may not require members to pay dues
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Chapter 16: Employment Discrimination
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Sample Questions
Q1) The Americans with Disabilities Act applies to employers with:
A) fifteen or more employees
B) twenty or more employees
C) twenty-five or more employees
D) fifty or more employees
E) all employers, regardless of the size of their workforce
Q2) Quid pro quo sexual harassment occurs when:
A) there are sexually explicit pictures displayed in the workplace
B) one employee touches another in an offensive way
C) an employer uses crude or demeaning language in private
D) there is a promise of a reward, such as a pay raise, for providing sexual favors
E) none of the other choices are correct
Q3) Choosing to promote a younger worker rather than an older worker, because the older worker may be retiring in several years is an example of:
A) sex discrimination
B) elderly discrimination
C) age discrimination
D) geriatric discrimination
E) quantitative discrimination
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Page 18
Chapter 17: The Regulatory Process
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Sample Questions
Q1) An enabling statute is a(n):
A) unofficial mandate passed by Congress granting powers to an agency
B) local law passed by the local legislature granting powers to an agency
C) state law passed by the state supreme court granting powers to an agency
D) state law passed by the state legislature granting powers to an agency
E) none of the other choices are correct
Q2) In Chevron, U.S.A., Inc. v. Natural Resources Defense Council, Inc., where the EPA's "bubble rule" for measuring pollution from an industrial facility was challenged, the Supreme Court held that:
A) since Congress directly addressed the issue of the bubble policy it was not up to the EPA whether or not to use it
B) since Congress directly addressed the issue of the bubble policy it was up to the EPA whether or not to use it
C) since Congress gave the EPA special permission to enact whatever policy it wants, the EPA can have the bubble policy if it wants
D) since the EPA is not subject to regulation by Congress, it can have whatever policy it wants
E) none of the other choices are correct
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Page 19
Chapter 18: Securities Regulation
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Sample Questions
Q1) The ____ is an extensive audited financial statement similar in content to the information provided in the registration process under the 1933 Act.
A) 10-K annual report
B) 8-K report
C) biannual 8-E report
D) prospectus
E) Howey report
Q2) The Securities Act of 1934 requires publicly held companies to file annual 10-K audited financial reports.
A)True
B)False
Q3) Accredited investors often buy private placement securities through Regulation D offerings. They receive a private-placement memorandum, which is similar to a prospectus, even though the security is not registered.
A)True
B)False
Q4) The sale of securities is the primary source of corporate finance.
A)True
B)False
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Chapter 19: Consumer Protection
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Sample Questions
Q1) Under the Equal Credit Opportunity Act, lenders can:
A) not discriminate by charging different debtors different interest rates
B) discriminate against persons who receive welfare
C) discriminate against persons because of race
D) not discriminate against persons with low income
E) none of the other choices
Q2) The Used Car Rule requires dealers to give consumers the following information except:
A) a statement about any warranty terms offered with the vehicle
B) a statement about known defects with the vehicle
C) a warning that oral promises may not be enforceable
D) a suggestion that the consumer get an independent inspection of the vehicle
E) all of the other choices are required
Q3) Under the Truth-in-Lending Act, if a creditor violates disclosure requirements, liability will be imposed only if monetary damages to the consumer can be shown.
A)True
B)False
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Chapter 20: Antitrust Law
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Sample Questions
Q1) Tying sales is when:
A) the sale of one good is independent of another
B) the sale of one good is tied to the sale of another
C) the sale of one good is delayed by the production of another good
D) the sale of one good depends on the production of another good
E) none of the other choices are correct
Q2) Antitrust law restricting monopolization favors competition because:
A) it lowers prices for consumers
B) it spurs companies to innovate
C) it increases consumer choice
D) all of the other specific choices are correct
E) none of the other specific choices are correct
Q3) In Eastman Kodak Co. v. Image Technical Services, Inc., the Supreme Court upheld a business arrangement devised by Kodak that required independent service organizations to buy all replacement parts from Kodak.
A)True
B)False
Q4) Most cases brought under the Robinson-Patman Act are by private parties.
A)True
B)False
Page 22
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Chapter 21: Environmental Law
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Sample Questions
Q1) The Federal Insecticide, Fungicide, and Rodenticide Act was originally passed in:
A) 1960
B) 1967
C) 1940
D) 1947
E) 1990
Q2) Hazardous wastes are placed into water or land at:
A) storage facilities
B) transformation facilities
C) treatment facilities
D) disposal facilities
E) neutralizing facilities
Q3) Firms that have water pollution permits must monitor their own performance and file what are called:
A) emission level reports
B) discharge monitoring reports
C) effluent control reports
D) effluent emission reports
E) effluent monitoring reports
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Page 23
Chapter 22: The International Legal Environment of Business
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Sample Questions
Q1) Tariff imposed on imports must be paid before the goods officially enter the country.
A)True
B)False
Q2) The overseas offices of the Foreign Commercial Service are known as:
A) U.S. Business Consulates
B) Commercial Centers
C) Commercial Advisers
D) U.S. Business Centers
E) none of the other choices are correct
Q3) According to a study of large trading nations by Transparency International, which country was most likely to have firms that would pay bribes:
A) the United States
B) Canada
C) Singapore
D) Russia
E) Britain
Q4) Transfer pricing within companies must be shown to be based on market prices.
A)True
B)False
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