Business and Society Test Preparation
Course Introduction
Business and Society explores the dynamic relationship between businesses, their stakeholders, and the broader societal context in which they operate. The course examines the roles and responsibilities of business organizations in addressing ethical, social, and environmental challenges, and analyzes how these considerations impact decision-making, corporate governance, and long-term sustainability. Students will investigate topics such as corporate social responsibility, ethical frameworks, stakeholder management, and the influence of globalization on business practices, preparing them to understand and respond to complex issues at the intersection of business and society.
Recommended Textbook
Business Its Legal Ethical and Global Environment 10th Edition by Marianne M. Jennings
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21 Chapters
2597 Verified Questions
2597 Flashcards
Source URL: https://quizplus.com/study-set/3866
Page 2
Chapter 1: Introduction to Law
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108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/77056
Sample Questions
Q1) Which of the following is not a source of private law?
A) lease
B) employment agreement
C) ordinance
D) marriage prenuptial agreement
Answer: C
Q2) Which of the following is an example of a law that provides compromises?
A) curfews
B) antitrust laws
C) traffic laws
D) union/management laws
Answer: D
Q3) 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
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Page 3
Chapter 2: Business Ethics and Social Responsibility
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) "It's a gray area," if it applies, means that the conduct you are evaluating is ethical, so long as you stay in the gray area.
A)True
B)False
Answer: False
Q2) A law firm in the Phoenix area provides "sick care" for employees' children. Sick care can be used when the child is too ill to go to school or its regular care facility. The law firm manager claims the program has cut down on sick days taken by employees to care for sick children. The program is an illustration of which type of social responsibility school?
A) inherence school
B) enlightened self-interest school
C) invisible hand school
D) social responsibility school
Answer: B
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Chapter 3: The Judicial System
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/77058
Sample Questions
Q1) Timberline Lumber, Inc., sued Teal Developers, Inc., because Teal had failed to pay a $43,000 bill owed to Timberline. Both companies are incorporated in Montana and operate only in Montana. Timberline lost at the trial and now wants to appeal the decision. Answer the following questions:
a. What court would have jurisdiction over the suit?
b. Who is the plaintiff? Who is the defendant?
c. On appeal, who is the appellant?
d. What grounds would cause the appellate court to reverse?
Answer: The case would be brought in the general trial court in Montana. Timberline is the plaintiff and Teal is the defendant. On appeal, Timberline is the appellant. The trial court must have committed a reversible error such as admitting evidence that should not have been admitted or giving incorrect jury instructions or allowing a biased juror to participate.
Q2) A case that is remanded requires further procedures.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Managing Disputes: Alternative Dispute
Resolution and Litigation Strategies
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138 Verified Questions
138 Flashcards
Source URL: https://quizplus.com/quiz/77059
Sample Questions
Q1) Under the new discovery rules, work product must also be turned over to the other parties in a case.
A)True
B)False
Q2) List the types of costs a company involved in litigation experiences. List the costs that can result if litigation is not pursued.
Q3) is replacing as the preferred method of business dispute resolution.
A) Litigation; arbitration
B) Arbitration; mediation
C) Mediation; arbitration
D) Litigation; mediation
Q4) A directed verdict can occur immediately after the pleadings are filed.
A)True
B)False
Q5) Summary jury trials offer the perspective of a jury with a shortened version of the case.
A)True
B)False
Q6) Explain the differences between arbitration and litigation.
Q7) What are the differences between arbitration and mediation? Page 6
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Page 7
Chapter 5: Business and the Constitution
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118 Verified Questions
118 Flashcards
Source URL: https://quizplus.com/quiz/77060
Sample Questions
Q1) The police power of the states:
A) has no federal limitations.
B) can extend to interstate business.
C) has been severely curtailed in recent years.
D) none of the above
Q2) The Commerce Clause authorizes Congress to regulate interstate and international commerce.
A)True
B)False
Q3) LL Bean has warehouse facilities in Maine, Nevada, Washington, Idaho, Utah, and North Dakota.
A) Any states in which LL Bean does business can tax the warehouse inventory.
B) Any states in which LL Bean has warehouses can tax LL Bean on all of its inventory.
C) Any state in which LL Bean has warehouses can tax LL Bean on the inventory in that state.
D) none of the above
Q4) The Bill of Rights covers freedom of speech.
A)True
B)False
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Chapter 6: Administrative Law
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137 Verified Questions
137 Flashcards
Source URL: https://quizplus.com/quiz/77061
Sample
Questions
Q1) Given deregulation in several major industries, why has the total amount of regulations still increased virtually every year?
Q2) Formal rulemaking differs from informal rulemaking in:
A) public notice is required for formal rulemaking not informal.
B) a public comment period is needed for formal rulemaking but not informal.
C) no modification period exists in formal rulemaking.
D) none of the above
Q3) Both formal and informal rulemaking processes include public hearings.
A)True
B)False
Q4) Reverse FOIA suits are suits by agencies to stop disclosures.
A)True
B)False
Q5) The Federal Register is a daily update of changes and proposed changes in the Code of Federal Regulations.
A)True
B)False
Q6) The Government in the Sunshine Act is often referred to as an open-meeting law.
A)True
B)False
Page 9
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Chapter 7: International Law
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) The U.S. courts can be used by citizens of foreign countries to recover for injuries occurring in their countries at the hands of U.S. companies.
A)True
B)False
Q2) Otis Elevator became a joint venturer with the government of South Vietnam, with a 70/30 profit split. The Vietnamese government then imposed a rule that allowed it to take 90% of all profits earned in Vietnam. Does Otis have any rights to return to the 70/30 split?
Q3) The LESCANT factors are a means of understanding various issues in cultures prior to beginning contract negotiations.
A)True
B)False
Q4) GATT is an example of a bilateral trade agreement.
A)True
B)False
Q5) Sovereign immunity provides that our court system cannot be used to right injustices in other countries.
A)True
B)False
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Chapter 8: Business Crime
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105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/77063
Sample Questions
Q1) Predicate offenses under RICO include:
A) gambling.
B) bribery.
C) extortion.
D) a and c only
E) all of the above
Q2) In order to establish criminal liability of the directors of a corporation:
A) a prosecutor need only establish that the corporation committed a crime.
B) a prosecutor must establish that the directors had criminal intent.
C) the corporation is liable for criminal acts but the directors are not liable.
D) none of the above
Q3) Pedro Moreno and Rolando Cue-Baiza brought their boat from Nassau to Miami. They re-entered the Miami port without going through customs. They docked the boat and began unloading it. Miami customs officials had observed the boat re-enter (by helicopter). When Moreno and Cue-Baiza began unloading the boat, customs officials sent in
a team of officers to search the boat (no warrant). The officers discovered numerous bales of marijuana during the search and Moreno and Cue-Baiza were charged with drug possession and trafficking. They are now challenging the validity of the warrantless search. Discuss its validity.
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Chapter 9: Business Torts
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130 Verified Questions
130 Flashcards
Source URL: https://quizplus.com/quiz/77064
Sample Questions
Q1) Comparative negligence reduces the plaintiff's recovery.
A)True
B)False
Q2) Britney Spears is an example of a public figure for purposes of proving malice.
A)True
B)False
Q3) Businesses are never liable for criminal activity on their premises.
A)True
B)False
Q4) Hamburger Hamlets, Inc. is a chain of fast-food restaurants. Its major competitor is Sam's Sandwiches, Inc. Sam's Sandwiches' public relations vice president issued the following statement, "We have documented proof that Hamburger Hamlets uses horse meat in its burgers." Which of the following statements is true?
A) Sam's is liable for defamation.
B) Sam's is liable for public disclosure of private facts.
C) Sam's is liable for negligence.
D) Sam's has not committed a tort.
Q5) "Car dealers are crooked" is an example of actionable defamation.
A)True
B)False
Page 12
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Chapter 10: Cyberlaw, Social Media, and Privacy
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62 Verified Questions
62 Flashcards
Source URL: https://quizplus.com/quiz/77065
Sample Questions
Q1) With what area of the law is there tension as the courts deal with cyberbullying issues?
A) Privacy
B) First Amendment rights
C) Interstate commerce
D) all of the above
Q2) Bradley Harrison was hired by Billiards, Inc. Before leaving his current employer, Pool Party, Inc., he downloaded Pool Party's contract forms and customer lists to take with him to his new job. Has Bradley broken any laws?
Q3) The employer practice of "Googling" job applicants is not prohibited by federal law.
A)True
B)False
Q4) Which of the following is correct about Lakes' policy on text messages?
A) The monitoring is overly broad and will not be permitted under federal law.
B) The monitoring must be restricted to business messages and not personal messages.
C) The monitoring policy fits within current legal standards.
D) The monitoring is not permitted.
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13
Chapter 11: Environmental Regulation and Sustainability
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112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/77066
Sample Questions
Q1) What penalties exist for violation of federal environmental regulations?
Q2) Many dry cleaners now charge an environmental surcharge to cover their costs on emissions compliance.
A)True
B)False
Q3) The Federal Partnership Action Agenda provides funding for brownfield projects.
A)True
B)False
Q4) Basa Industries, Inc., because of processing changes, has "0" emissions from its plant in New Mexico. However, Basa holds a permit for emissions from the EPA. Basa:
A) must return the permit to the EPA.
B) can sell the permit privately.
C) can sell the permit only through the EPA.
D) must use the permit or forfeit it in six months.
Q5) Discuss how EMF problems can affect property values.
Q6) Explain the steps in due diligence.
Q7) Only actions taken by federal agents and agencies require the filing of an EIS.
A)True
B)False
Page 14
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Chapter 12: Contracts and Sales: Introduction and Formation
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) Which of the following is not required for a valid UCC offer?
A) quantity
B) payment terms
C) subject matter
D) both b and c
E) a, b, and c
Q2) Revocation can be valid any time prior to acceptance.
A)True
B)False
Q3) The subprime lending market collapse in 2007 led to other credit crunches and business impacts.
A)True
B)False
Q4) Implied contracts are unenforceable.
A)True
B)False
Q5) Under the UCC, a contract for the sale of a car for $700 need not have a record of the contract to be enforceable.
A)True
B)False
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Chapter 13: Contracts: Performance, Remedies, and Rights
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) Which of the following cannot be disclosed on a credit report being issued on a job applicant for a $37,000/year job in 2008?
A) a bankruptcy in 1990
B) a judgment paid in 1991
C) a criminal conviction for running a meth lab in 1998
D) All of the above can be disclosed.
Q2) The three-day-cooling-off period applies to all credit transactions.
A)True
B)False
Q3) List what cannot be disclosed in a credit report for a $2,000 loan.
Q4) 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
Q5) Puffing is sufficient grounds for setting aside a contract on the basis of misrepresentation.
A)True
B)False
Q6) Explain the purpose of a force majeure clause.
Page 16
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Chapter 14: Sales: Product Advertising and Liability
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138 Verified Questions
138 Flashcards
Source URL: https://quizplus.com/quiz/77069
Sample Questions
Q1) The implied warranty of fitness for a particular purpose (unless disclaimed) is given in every sale of goods by a merchant.
A)True
B)False
Q2) Which of the following issues in advertising is not regulated by the FTC?
A) accuracy of ad content
B) accuracy of performance claims
C) celebrity endorsements
D) All of the above are regulated by the FTC.
Q3) Bait and switch is not a deceptive advertising technique.
A)True
B)False
Q4) The UCC warranty of merchantability:
A) does not cover sales of food in restaurants.
B) can be disclaimed by using the term "as is."
C) is made in every sale of goods.
D) none of the above
Q5) Privity is required for recovery on the basis of warranty.
A)True
B)False
17
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Chapter 15: Products: Business Intellectual Property
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95 Verified Questions
95 Flashcards
Source URL: https://quizplus.com/quiz/77070
Sample Questions
Q1) 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
Q2) Ideas can be copyrighted.
A)True
B)False
Q3) Trade secrets:
A) cannot be registered.
B) do not carry remedies if they are taken by former employees.
C) are not a form of property and cannot be stolen.
D) none of the above
Q4) The Industrial Espionage Act applies to all company information taken without permission.
A)True
B)False
Q5) The Lanham Act provides protection for trademarks, trade names, and trade dress.
A)True
B)False
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Chapter 16: Business Competition: Antitrust
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159 Verified Questions
159 Flashcards
Source URL: https://quizplus.com/quiz/77071
Sample Questions
Q1) A covenant not to compete in a contract for the sale of a business protects the goodwill of the existing business for the buyer.
A)True
B)False
Q2) A monopsony is illegal per se.
A)True
B)False
Q3) Yazaki, an auto parts manufacturer, made agreements with three competitors to decide in advance who would bid on contracts with auto manufacturers and what the price would be. The auto parts manufacturers then took turns winning various contracts. Which of the following statements is correct?
A) The companies engaged in resale price maintenance.
B) The companies created a monopsony.
C) The companies were involved in a tying arrangement.
D) The companies were involved in divvying up the market and price-fixing.
Q4) The Robinson-Patman Act deals with price discrimination.
A)True
B)False
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Chapter 17: Management of Employee Conduct: Agency
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115 Verified Questions
115 Flashcards
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Sample Questions
Q1) Which is a requirement for the creation of an agency relationship?
A) a written agreement
B) principal with capacity
C) agent with capacity
D) none of the above
Q2) Implied authority is the extension of express authority by custom.
A)True
B)False
Q3) There is no liability of employers for the acts of independent contractors.
A)True
B)False
Q4) Which of the following terminates apparent authority?
A) firing an employee
B) an employee quitting
C) an employee retiring
D) none of the above
Q5) An agency contract must be evidenced by a record to be valid.
A)True
B)False
Q6) Discuss the requirements for ending an agency relationship.
Page 20
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Chapter 18: Governance and Structure: Forms of Doing Business
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138 Verified Questions
138 Flashcards
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Sample Questions
Q1) Watered shares are shares for which the purchaser did pay more than par but less than full market value.
A)True
B)False
Q2) Under Sarbanes-Oxley, which of the following is true?
A) Companies must have a separate code of ethics for financial reporting.
B) Boards of directors are not subject to the act's provisions.
C) The act does not cover publicly traded companies.
D) both b and c
Q3) A limited liability company:
A) can be created informally.
B) does not have the pass-through feature of income and losses.
C) is exclusive to the United States.
D) none of the above
Q4) Lawyers for corporations are not required to reveal investigations of misconduct in the corporation to the CEO.
A)True
B)False
Q5) Discuss investors' concerns regarding CEO compensation.
Q6) List the provisions of Sarbanes-Oxley that affect corporation governance. Page 21
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Page 22
Chapter 19: Governance and Regulation: Securities Law
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152 Verified Questions
152 Flashcards
Source URL: https://quizplus.com/quiz/77074
Sample Questions
Q1) Pump and dump is the act of hyping a stock in order to benefit from a sale once the hype affects the price.
A)True
B)False
Q2) Shareholder proposals can include topics such as executive compensation.
A)True
B)False
Q3) Black-out periods are timeframes in which trading by company employees is prohibited.
A)True
B)False
Q4) Sarbanes-Oxley has special anti-retaliation protections for employees who raise questions about financial reports and internal accounting.
A)True
B)False
Q5) All companies required to register under the 1934 Act must file a 10-K report.
A)True
B)False
Q6) Describe shareholders' rights under Section 14.
Page 23
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Chapter 20: Management: Employee Welfare
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) The Pension Reform Act changed both the funding and accounting requirements for employer-sponsored pension plans.
A)True
B)False
Q2) The Taft-Hartley Act includes the presidential power to invoke a "cooling-off period" in transportation strikes.
A)True
B)False
Q3) The Pension Reform Act was passed in response to company bankruptcies that discharged their pension plan obligations.
A)True
B)False
Q4) Wages and hours are examples of mandatory subjects for good-faith bargaining.
A)True
B)False
Q5) Drug testing of employees is a violation of the FLSA.
A)True
B)False
Q6) Describe the characteristics of a workers' compensation system.
Page 24
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Chapter 21: Management: Employment Discrimination
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) The ADA prohibits discrimination on the basis of disability against otherwise qualified applicants.
A)True
B)False
Q2) Lying by an employee on an employment application is a complete defense to a later charge of discrimination by that employee.
A)True
B)False
Q3) The presence of sexually suggestive e-mails on an employer's e-mail system can be the basis of a claim for atmosphere of harassment.
A)True
B)False
Q4) 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
Q5) Discuss the main racial discrimination issues in the Ricci case.
Q6) List all the possible defenses to charges of discrimination.
Page 25
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