Business Ethics and Legal Issues Study
Guide Questions
Course Introduction
This course provides an in-depth exploration of ethical principles and legal frameworks as they apply to business operations and decision-making. Students will examine key topics such as corporate social responsibility, stakeholder theory, ethical dilemmas in the workplace, and the legal environment affecting businesses, including contracts, employment law, and regulatory compliance. Through real-world case studies and critical discussions, the course aims to develop students abilities to recognize ethical and legal challenges, evaluate alternative courses of action, and make responsible decisions that align with both organizational goals and societal expectations.
Recommended Textbook
Legal Environment of Business Online Commerce Ethics 8th Edition by Henry R. Cheeseman
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27 Chapters
2609 Verified Questions
2609 Flashcards
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Chapter 1: Legal Heritage and the Digital Age
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) What function of the law is being served when passing laws that protect the U.S.government from the risk of being forcefully overthrown?
A)maintaining the status quo
B)shaping moral standards
C)facilitating orderly change
D)promoting social justice
Answer: A
Q2) ________ courts were allowed to give equitable remedies under the English common law.
A)Merchant
B)Law
C)Chancery
D)Appellate
Answer: C
Q3) The ________ is the legislative branch of the U.S.government and has the power to enact the law.
Answer: Congress
Q4) The ________ School of jurisprudence maintains that the law is shaped by logic.
Answer: Analytical
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Chapter 2: Ethics and Social Responsibility of Business
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Sample Questions
Q1) ________ is a set of moral principles or values that governs the conduct of an individual or a group.
A)Rationality
B)Evolution
C)Ethics
D)Reason
Answer: C
Q2) 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
Answer: A
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Page 4
Chapter 3: Courts, Jurisdiction, and Administrative Agencies
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Sample Questions
Q1) The decisions handed down by the general jurisdiction trial courts are appealable to an intermediate appellate court or the state supreme court.
A)True
B)False
Answer: True
Q2) In general jurisdiction trial courts,the testimony and evidence at trial are recorded and stored for future reference.
A)True
B)False
Answer: True
Q3) The intermediate appellate courts do not allow the parties to have oral hearings. A)True
B)False
Answer: False
Q4) No new evidence or testimony is heard in the state supreme courts.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Alternative, Judicial, and E-Dispute Resolution
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Sample Questions
Q1) Interventions are written questions submitted by one party to a lawsuit to the other party.
A)True
B)False
Q2) Which of the following is a form of alternative dispute resolution?
A)pretrial hearing
B)settlement conference
C)appeal
D)mediation
Q3) Which of the following can be filed by the defendant in a lawsuit?
A)complaint
B)answer
C)reply
D)injunction
Q4) What can a party to a lawsuit do if he or she is displeased with the trial court's judgment?
Q5) A plaintiff who believes that he or she has been injured by the defendant can file a cross-complaint against the defendant.
A)True
B)False
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Chapter 5: Constitutional Law for Business and
E-Commerce
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Sample Questions
Q1) Substantive due process requires that the government give a person proper notice and hearing of legal action before that person is deprived of his or her life,liberty,or property.
A)True
B)False
Q2) Advertising is categorized as ________ speech.
A)fully protected
B)limited protected
C)uncensored
D)unprotected
Q3) Kingsland is a country that has been exporting apples to the United States for over a century,shipping 300 tons to Georgia each month.However,last month,Kingsland violated a trading norm which was not condoned by Georgia.Which of the following measures should be taken to regulate apple imports from Kingsland?
A)Georgia should stop trading with Kingsland after serving a notice.
B)Georgia should stop trading with Kingsland without serving a notice.
C)Georgia should appeal to the federal authority which can stop imports from Kingsland.
D)Georgia should make Kingsland export its apples to North Carolina.
Page 7
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Chapter 6: Torts and Strict Liability
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110 Flashcards
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Sample Questions
Q1) Which of the following torts constitutes battery?
A)stealing a person's wallet
B)threatening to shoot a person
C)blackmailing a person
D)poisoning a person's drink
Q2) A defendant who has not been negligent but who is made to pay a strict liability judgment can bring a separate action against the negligent party in the chain of distribution to recover its losses.
A)True
B)False
Q3) The intentional confinement or restraint of another person without authority or justification and without consent is called ________.
Q4) ________ is the liability of a professional who breaches his or her duty of ordinary care.
Q5) Monica told a prospective patient that a certain cosmetic surgeon had been banned from practicing by the American Medical Council,but this is untrue.Is Monica liable for prosecution? Why?
Q6) A failure to exercise care or to act as a reasonable person would act is a breach of the ________.
Page 8
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Chapter 7: Cyber Law and Cyber Crimes
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Sample Questions
Q1) Which of the following would violate the Double Jeopardy Clause?
A)The government reopens a case after new incriminating evidence is found against an acquitted person.
B)A person is tried for a case similar to a case from which he was acquitted earlier.
C)A case reaches a hung jury in court and the government reopens the case with a new jury.
D)The criminal act violates more than one jurisdiction and each jurisdiction tries the accused in turn.
Q2) ________ is the fraudulent conversion of property by a person to whom that property was entrusted.
A)Embezzlement
B)Bribery
C)Forgery
D)Extortion
Q3) If the grand jury determines that there is sufficient evidence to hold the accused for trial,it issues a(n)________.
Q4) ________ crimes require that the perpetrator intended to achieve a specific result from his illegal act.
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Chapter 8: Intellectual Property and Cyber Piracy
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Sample Questions
Q1) Explain the process of copyright registration.
Q2) Improvements to existing machines,processes,or compositions of matter cannot be patented.
A)True
B)False
Q3) Which of the following statements is true of the patent period in the United States?
A)It follows the first-to-file rule.
B)The patent term begins to run from the date the patent application is filed.
C)The patent term begins to run from the date the patent is issued.
D)The patent period for an invention is 17 years.
Q4) A competitor can lawfully discover a trade secret by performing reverse engineering.
A)True
B)False
Q5) Copyright registration permits a holder to obtain statutory damages for copyright infringement,which may be greater than actual damages,and attorney's fees.
A)True B)False
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Chapter 9: Formation and Requirements of Contracts
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Sample Questions
Q1) A(n)________ contract is only valid once the offeree performs the requested act.
Q2) An exculpatory clause can relieve a party of liability for ordinary negligence.
A)True
B)False
Q3) What are the possible problems that can come up in a unilateral contract?
Q4) The ________ states that the intent to contract is judged by the reasonable person standard and not by the subjective intent of the parties.
A)objective theory of contracts
B)common law of contracts
C)Restatement of the Law of Contracts
D)Restatement (Second)of Contracts
Q5) Explain the basic requirements that must be met for a contract to be enforceable.
Q6) Which of the following is a necessary condition for a contract to be considered valid?
A)It can be voided by both parties.
B)It can be voided by one of the parties.
C)It is enforceable by both parties.
D)It is enforceable by at least one of the parties.
Q7) ________ is defined as something of legal value given in exchange for a promise.
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Chapter 10: Performance and Breach of Contracts
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Sample Questions
Q1) ________ of the Uniform Commercial Code (UCC)is the basic Statute of Frauds provision for sales contracts.
Q2) A(n)________ is a clause in a contract which stipulates that the contract is a complete integration and the exclusive expression of the parties' agreement.
Q3) A clause in a contract in which the parties specify certain events that will excuse nonperformance is known as a(n)________.
A)approval clause
B)express condition
C)force majeure clause
D)implied-in-fact condition
Q4) In a(n)________ mistake,only one party is mistaken about a material fact regarding the subject matter of the contract.
Q5) An agreement whereby the parties agree to accept something different in satisfaction of the original contract is called a restitution.
A)True
B)False
Q6) Distinguish between minor breach and material breach.
Q7) An obligee who transfers a right is known as a(n)________.
Page 12
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Chapter 11: Digital Law and E-Commerce
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Sample Questions
Q1) A(n)________ grants the licensee exclusive rights to use information rights for a specified duration.
Q2) Most Web pages use electronic ordering systems that do not have the ability to evaluate and accept ________.
A)counteroffers
B)e-licenses
C)e-signatures
D)biometric data
Q3) ________ are state laws that require certain types of contracts to be in writing.
Q4) Which of the following is true of the World Wide Web?
A)Only businesses-not individuals-can have their own websites.
B)Individuals need not register with a service provider to access the web.
C)A website can have several online addresses.
D)Web pages are stored on servers which are operated by Internet service providers.
Q5) The ________ gives an e-signature the same force and effect as a pen-inscribed signature on paper.
Q6) Explain in brief the working of an e-license.
Q7) What measures has Congress taken to regulate spam e-mail?
Page 13
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Chapter 12: UCC Sales Contracts, Leases, and Warranties
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Sample Questions
Q1) The firm offer rule allows the offeror to revoke an offer at any point of time prior to the acceptance.
A)True
B)False
Q2) The doctrine of ________ governed the law of sales and leases for centuries before the UCC was adopted.
Q3) An e-contract is made when the offeree sends an e-mail or another electronic document to the offeror.
A)True
B)False
Q4) Unless otherwise unambiguously indicated by language or circumstance,an offer to make a sales or lease contract may be accepted in any manner and by any reasonable medium of acceptance.
A)True
B)False
Q5) The right to withhold delivery is available to the seller if the buyer or lessee wrongfully rejects or revokes acceptance of the goods.
A)True
B)False
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Chapter 13: Credit, Secured Transactions, and Bankruptcy
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Sample Questions
Q1) To be valid,a security agreement must set forth the creditor's rights upon the debtor's default.
A)True
B)False
Q2) A(n)________ transaction occurs when a seller sells goods to a buyer who has obtained financing from a third-party lender that takes a security interest in the goods sold.
Q3) ________ is a form of credit that does not require any security to protect the payment of the debt.
Q4) Which of the following transactions occurs when a seller sells goods to a buyer on credit and retains a security interest in the goods?
A)two-party secured
B)three-party secured
C)perfected
D)attached
Q5) The term ________ refers to a document required to be filed by a creditor that states the amount of his or her claim against the debtor.
Q6) Personal property that is subject to a security agreement is known as ________.
Q7) Explain the Chapter 11 plan of reorganization.
Page 15
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Chapter 14: Small Business, General Partnerships, and Limited Partnerships
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Sample Questions
Q1) ________ establishes rules for the dissolution of a limited partnership.
A)The RULPA
B)The UPA
C)The UCC
D)Federal statutory law
Q2) Limited partners have unlimited personal liability for the debts and obligations of the limited partnership.
A)True
B)False
Q3) A limited partner may engage in voting on the dissolution of the limited partnership without losing his or her limited liability.
A)True
B)False
Q4) 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
Q5) An ordinary partnership is also known as a(n)________.
Q6) How are assets distributed after the dissolution of a general partnership? Page 16
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Page 17
Chapter 15: Limited Liability Companies, Limited Liability
Partnerships, and Special Forms of Business
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Sample Questions
Q1) Explain the process that exempts members of an LLC from double taxation.
Q2) In a manager-managed LLC,amending the articles of organization cannot be delegated to the managers.
A)True
B)False
Q3) The certificate of interest acts the same as a(n)________ issued by a corporation.
A)promissory note
B)stock certificate
C)deposit note
D)initial public offer
Q4) In which of the following types of franchises does a franchisor provide a secret formula or process to the franchisee?
A)chain-style franchise
B)area franchise
C)distributorship franchise
D)processing plant franchise
Q5) A company operating its business as a(n)________ cannot have more than 100 shareholders.
Q6) A member's ownership interest in an LLC is known as a(n)________.
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Chapter 16: Corporations and Corporate Governance
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Sample Questions
Q1) Which of the following is true of cumulative voting?
A)Each shareholder votes the number of shares he or she owns on candidates for each of the positions open for election.
B)A majority shareholder always elects the entire board of directors.
C)The cumulative voting method always applies to elections for the board of directors.
D)A minority shareholder has a better opportunity to elect someone to the board of directors.
Q2) Corporations cannot provide their articles of incorporation online.
A)True
B)False
Q3) A detailed set of rules adopted by the board of directors after a corporation is incorporated that contains provisions for managing the business and the affairs of the corporation are referred to as ________.
A)ultra vires rules
B)articles of incorporation
C)bylaws
D)corporation codes
Q4) Explain the concepts of winding up,liquidation,and termination.
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19
Chapter 17: Investor Protection, E-Securities, and Wall Street Reform
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Sample Questions
Q1) Civil liability under Section 11 is imposed on those who are negligent in not discovering fraud in their security offerings.
A)True
B)False
Q2) Which of the following is true of exempt securities?
A)Only the federal government can issue exempt securities.
B)Once a security is exempt,it is exempt forever.
C)An exemption notice must be filed with SEC each time the exempt security is transferred.
D)Exempt securities cannot be traded publicly.
Q3) A tipper cannot be held liable for the profits made by the tippee.
A)True
B)False
Q4) An investor who has purchased an unregistered security can rescind their purchase,but not recover damages.
A)True
B)False
Q5) The issuance of securities by an issuer to the public is known as a(n)________.
Q6) Debentures are an example of ________ securities.
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Chapter 18: Agency Law
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Sample
Questions
Q1) A principal-agent relationship exists when an employer hires an employee to perform some form of physical service.
A)True
B)False
Q2) Which of the following is true of an employer-employee relationship?
A)An employee has implied power of attorney toward the principal.
B)An employee has authority to act on behalf of the principal.
C)An employee can enter into contracts on behalf of the employer.
D)An employee is hired to perform a task or service.
Q3) Minksine Corporation employs Sandy as its marketing manager.Sandy is driving her automobile to attend a meeting with a client on behalf of her employer.On her way,Sandy is involved in an automobile accident that is caused by her negligence.Several people are seriously injured.Which of the following is true of this case?
A)Sandy is solely liable for damages caused by the accident.
B)The injured parties cannot recover damages from Sandy.
C)Minksine Corporation is liable for the injuries caused by Sandy.
D)The injured parties can only claim medical reimbursement from Minksine Corporation.
Q4) What is an implied agency?
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Chapter 19: Equal Opportunity in Employment
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Sample Questions
Q1) Distinguish between disparate-treatment and disparate-impact discrimination.
Q2) Under Title VII of the Civil Rights Act of 1964,the right of an employee to practice his or her religion is absolute.
A)True
B)False
Q3) ________ discrimination occurs when an employer adopts a work rule that is neutral on its face but is shown to cause an adverse impact on a protected class.
Q4) The ________ is the federal administrative agency responsible for enforcing most federal antidiscrimination laws.
Q5) Which of the following is true of sex discrimination?
A)It is not the same as gender discrimination.
B)Prohibition against sex discrimination applies only to women,not men.
C)Employment discrimination because of pregnancy is sex discrimination.
D)Sex discrimination is covered by Title II of the GINA.
Q6) Based on his religion,an employee feels discriminated against by his employer.Who must he approach before filing a lawsuit against the employer? Describe the process.
Q7) ________ is discrimination against a group which is usually thought of as a majority.
Page 22
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Chapter 20: Employment Law and Worker Protection
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Q1) ________ occurs when an employee has a nonforfeitable right to receive pension benefits.
A)Vesting
B)Easement
C)Anti-lapse
D)Reconciliation
Q2) To assist workers who are temporarily unemployed,the ________ Act requires employers to pay unemployment contributions.
Q3) What is the Family and Medical Leave Act (FMLA)? How is an employee covered under it?
Q4) The ________ forbids the use of oppressive child labor and makes it unlawful to ship goods produced by businesses that use oppressive child labor.
A)OSHA
B)ERISA
C)FMLA
D)FLSA
Q5) How is Social Security awarded in the United States?
Q6) Self-employed individuals are required to pay Social Security contributions under the ________ Act.
Page 23
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Chapter 21: Labor Law and Immigration Law
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Q1) Only ________ workers were allowed to belong to the American Federation of Labor.
A)skilled craft
B)unskilled
C)literate
D)illiterate
Q2) Unskilled and semiskilled workers did not qualify as members of the CIO.
A)True
B)False
Q3) What is an EB-1 visa? Who qualifies for it?
Q4) Under an agency shop agreement,an employer may hire anyone whether he or she belongs to a union or not.
A)True
B)False
Q5) ________ Act,also known as labor's "bill of rights," gives each union member equal rights and privileges to nominate candidates for union office,vote in elections,and participate in membership meetings.
Q6) The ________ Act gives the president of the United States the right to seek an injunction (for up to 80 days)against a strike that would create a national emergency.
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Chapter 22: Antitrust Law and Unfair Trade Practices
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Q1) Which of the following is an example of a horizontal restraint of trade?
A)resale price maintenance
B)division of markets
C)unilateral refusal to deal
D)conscious parallelism
Q2) Which of the following is considered a primary defense against Section 7 of the Clayton Act?
A)the Noerr doctrine
B)the Colgate doctrine
C)the failing company doctrine
D)conscious parallelism
Q3) Which of the following is an example of a vertical restraint of trade?
A)group boycott
B)price fixing
C)resale price maintenance
D)division of markets
Q4) The legality of nonprice vertical restraints of trade under Section 1 of the Sherman Act is examined by using the rule of reason.
A)True
B)False
Page 25
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Chapter 23: Consumer Protection
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Q1) The ________ applies to lessors who engage in leasing or arranging leases for consumer goods in the ordinary course of their business.
Q2) The FDA cannot recall any cosmetics that contain unsubstantiated claims of preserving youth or increasing virility from the market.
A)True
B)False
Q3) Which of the following is true of the Do-not-Call Registry for consumers?
A)The registration is valid for the lifetime of the customer who opted for it.
B)Telemarketers have three days to remove the customer's name upon registry.
C)Charitable and political organizations are exempt from the registry.
D)Customers cannot choose the companies from which they do not wish to receive calls.
Q4) Which of the following is a function that the Consumer Product Safety Commission is empowered to execute?
A)collecting data regarding injuries caused by consumer products
B)regulating the distribution of genetically modified food products
C)recalling drugs that have been found to be harmful from the market
D)accepting petitions from consumers on wrongly labeled food products
Q5) The ________ is the federal administrative agency empowered to enforce the FDCA.
Page 26
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Chapter 24: Environmental Protection
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Q1) Point sources are sources of pollution that are fixed and stationary.
A)True
B)False
Q2) Which of the following is a federal sanction imposed on states that fail to meet air quality standards?
A)an increase in personal property taxes on state residents
B)a decrease in federal funding of the state's public school system
C)a limitation on the development of new pollution sources within the state
D)a reduction in congressional membership (for example,one less state representative in the U.S.House of Representatives)
Q3) ________ is/are primarily responsible for enforcing the provisions of the Clean Water Act.
A)The federal government
B)Independent agencies
C)State governments
D)Nonprofit organizations
Q4) The EPA requires special labeling of toxic substances.
A)True
B)False
Q5) Give an account of state environmental protection laws.
Page 27
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Chapter 25: Real Property and Land Use Regulation
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Sample Questions
Q1) Kate,Kelly,Rita,and Lucy own a large commercial building as joint tenants with a right of survivorship.Kate sells her one-quarter interest in the building to Bao.After the sale,Bao,Kelly,Rita,and Lucy are ________.
A)joint tenants,with a right of survivorship
B)tenants by the entirety,with no right of survivorship
C)tenants in common,with no right of survivorship
D)tenants by the entirety,with a right of survivorship
Q2) What is a fixture?
A)personal property so closely associated with real property that it becomes part of the realty
B)an intangible asset created within the parameters of certain real property
C)a component of real property that is easily transferrable without substantial damage to the real property
D)a tangible,physical item that cannot be classified as real property
Q3) If a person owns real property in fee simple,his or her ownership has no limitation on inheritability.
A)True
B)False
Q4) Give an account of zoning.What are nonconforming uses?
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Chapter 26: International and World Trade Law
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Q1) The canons of Christian faiths provide rules for believers to follow in living their lives and professing their faith.
A)True
B)False
Q2) Which of the following constitutional provisions give the federal government the authority to regulate foreign affairs?
A)the Due Process Clause and the Double Jeopardy Clause
B)the Supremacy Clause and the Equal Protection Clause
C)the Free Exercise Clause and the Establishment Clause
D)the Foreign Commerce Clause and the Treaty Clause
Q3) Only individuals or businesses,not nations,can have cases decided by the International Court of Justice (ICJ).
A)True
B)False
Q4) Any state or local law that unduly burdens foreign commerce is considered to be in violation of the Foreign Commerce Clause.
A)True
B)False
Q5) What is the World Bank? What is its function?
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Chapter 27: Accountants' Duties and Liability
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Sample Questions
Q1) Persons injured by a RICO violation can bring a private civil action against the violator and recover treble damages.
A)True
B)False
Q2) An accountant's failure to follow GAASs when conducting audits constitutes negligence.
A)True
B)False
Q3) Limited partners are personally liable for the debts and obligations of the limited liability partnership.
A)True
B)False
Q4) A person who practices as an accountant but is not certified is referred to as a public accountant.
A)True
B)False
Q5) Give an account of the Private Securities Litigation Reform Act of 1995.
Q6) Explain Section 552 of the Restatement (Second)of Torts.
Q7) What is the accountant-client privilege?
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