Employment Law Review Questions
Course Introduction
Employment Law provides an in-depth examination of the legal framework governing the relationship between employers and employees. The course covers key topics such as contracts of employment, employee rights and protections, workplace discrimination, health and safety regulations, and termination of employment. Students will analyze statutes, regulations, and case law to understand the rights and obligations of each party within the employment context. Emphasis is placed on both the theoretical foundations and practical applications of employment law, preparing students to navigate and resolve real-world employment issues in a dynamic and evolving legal environment.
Recommended Textbook
Business Law Today Standard Text and Summarized Cases 10th Edition by Roger LeRoy Miller
Available Study Resources on Quizplus
37 Chapters
2663 Verified Questions
2663 Flashcards
Source URL: https://quizplus.com/study-set/3783
Page 2
Chapter 1: The Legal Environment
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75500
Sample Questions
Q1) Statutes are laws enacted by Congress and the state legislatures and comprise one of the sources of American law.
A)True
B)False
Answer: True
Q2) Much of American law is based on
A) the English legal system.
B) the Spanish legal system.
C) the civil law of the Greeks.
D) Ancient Chinese law.
Answer: A
Q3) To Cody, the written law of a particular society at a particular time is most significant. Cody is a
A) legal positivist.
B) legal rationalist.
C) legal realist.
D) person who adheres to the natural law school.
Answer: A
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: Constitutional Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75501
Sample Questions
Q1) The President determines the jurisdiction of the federal courts.
A)True
B)False
Answer: False
Q2) South Dakota, like other states, may regulate private activities to protect or promote the public order, health, safety, and general welfare under
A) the state's police powers.
B) the dormant commerce clause.
C) the due process clause.
D) the free exercise clause.
Answer: A
Q3) A law that limits only some persons' exercise of a fundamental right is valid under any circumstances.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Courts and Alternative Dispute Resolution
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75502
Sample Questions
Q1) A business firm may have to comply with the laws of any jurisdiction in which it actively targets customers.
A)True
B)False
Answer: True
Q2) Carol files a suit against Andy in a state trial court and loses. Carol
A) cannot take her case any higher in the court system.
B) can insist that the United States Supreme Court hear her case.
C) can plead her case before an appellate court.
D) can plead her case before a small claims court.
Answer: C
Q3) ADR proceedings are always strictly regulated by federal statutes.
A)True
B)False
Answer: False
Q4) Federal courts are superior to state courts.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Torts and Cyber Torts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75503
Sample Questions
Q1) To commit an intentional tort, one person must intend to harm a certain person.
A)True
B)False
Q2) OK Dry-Cleaning advertises so effectively that the regular customers of its competitor Purity Cleaners patronize OK instead of Purity. This is A) appropriation.
B) conversion.
C) wrongful interference with a contractual relationship.
D) no tort.
Q3) Jean is playing a video game on a defective disk that melts in her game player, starting a fire that injures her hands. Jean files a suit against K-Tech, Inc., the game's manufacturer. K-Tech is held liable under the doctrine of strict liability. A significant application of this doctrine is in the area of A) cyber torts.
B) intentional torts.
C) product liability.
D) unintentional torts.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Intellectual Property and Internet Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75504
Sample Questions
Q1) Trek Transport Company uses a mark associated with its name to distinguish its services from those of other trucking firms. This mark is
A) a certification mark.
B) a collective mark.
C) a service mark.
D) a trade name.
Q2) Go! is a handheld video game featuring races between imaginary creatures and vehicles. The graphics used in the game are protected by
A) copyright law.
B) patent law.
C) trademark law.
D) trade secrets law.
Q3) A generic term is not protected under trademark law unless it acquires a secondary meaning.
A)True
B)False
Q4) In cyberspace, trademarks are sometimes called cyber marks.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Criminal Law and Cyber Crime
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/75505
Sample Questions
Q1) A suspect cannot be tried twice in the same court for the same crime.
A)True
B)False
Q2) Criminal law spells out the duties that exist between persons or between citizens and their governments.
A)True
B)False
Q3) Under the Fourth Amendment, a general search warrant and a general search through a person's belongings are permitted.
A)True
B)False
Q4) A bank employee stealing funds from a client is an example of embezzlement.
A)True
B)False
Q5) Felonies are punishable by imprisonment for more than a year or death.
A)True
B)False
Q6) Individuals who are arrested must be informed of certain constitutional rights.
A)True
B)False
Page 8
To view all questions and flashcards with answers, click on the resource link above.
Chapter 7: Ethics and Business Decision Making
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75506
Sample Questions
Q1) Lia works for Media Marketing Company. Her job includes putting "spin" on the firm's successes and failures. In this context, ethics consist of
A) "bad" versus "good" publicity.
B) questions of rightness and wrongness.
C) the firm's quarterly revenue.
D) whatever is legal.
Q2) Adhering strictly to all business laws is all that is necessary to fulfill all business ethics obligations.
A)True
B)False
Q3) Corporations can be good citizens by promoting goals that society deems worthwhile.
A)True
B)False
Q4) If the interests of different stakeholders conflict, it can be difficult to determine which group's interest should receive greater weight.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: International Law in a Global Economy
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75507
Sample Questions
Q1) UniOil, a U.S. firm, owns property in Venezuela. When the government of Venezuela seizes the property, UniOil asks a U.S. court to order the property's return. The court rules that Venezuela is exempt from the court's jurisdiction. This is A) a travesty of justice.
B) the act of state doctrine.
C) the doctrine of sovereign immunity.
D) the principle of comity.
Q2) Senator Brown and other politicians want to restrict the flow of technologically advanced products and data from the United States to other countries. To restrict or encourage exports, Congress can
A) do nothing.
B) assess antidumping duties.
C) impose export taxes.
D) set export quotas.
Q3) The Foreign Sovereign Immunities Act spells out what a "foreign state" includes.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Nature and Classification
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75508
Sample Questions
Q1) A unilateral contract is formed when the party receiving the offer completes the requested act or performance.
A)True
B)False
Q2) The intention to enter into a contract is judged by objective facts as interpreted by a reasonable person.
A)True
B)False
Q3) If a contractual promise is not fulfilled, the person who made it may be required to perform the promised act.
A)True
B)False
Q4) Wilson buys a lottery ticket at his local gas station. Wilson has accepted an offer for a
A) bilateral contract.
B) unilateral contract.
C) void contract.
D) unenforceable contract.
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 9: Offer and Acceptance
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75509
Sample Questions
Q1) Pastry Dough, Inc., sends its catalogue to Octavio and includes a "personalized" letter inviting him to buy any item in it at the advertised price. This is
A) an offer because of the "personalized" letter.
B) an offer because there is no room for price negotiation.
C) an offer only if Octavio previously bought items from Pastry Dough.
D) not an offer.
Q2) Jared downloads some video games from the Internet. There is a page indicating the terms of use, but nothing that requires Jared to affirmatively indicate his consent before downloading the games. These terms are
A) a click-on agreement.
B) browse-wrap terms.
C) an attribution agreement.
D) a shrink-wrap agreement.
Q3) An offer made in obvious anger is still an effective offer.
A)True
B)False
Q4) In most states, revocation becomes effective on receipt.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Consideration, Capacity, and Legality
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75510
Sample Questions
Q1) Frugal Insurance Company sells a policy to Grover Company, insuring the life of one of Grover's key executives. When the executive dies, Frugal re?fuses to pay, noting that it was not licensed to sell insurance in Grover's state and arguing that thus, its policy cannot be enforced. Grover can recover
A) the amount of the policy from Frugal in full.
B) the amount of the premiums that Grover paid to Frugal.
C) as much of the amount of the policy from Frugal as will cover Grover's costs.
D) nothing.
Q2) Lucy, a minor, disaffirms a contract for necessaries without returning the goods. To Manny's Food Mart, the seller, Lucy is required to pay
A) nothing.
B) the reasonable value of the goods.
C) the sales price of the goods.
D) the ultimate worth of the goods.
Q3) If a minor disaffirms a contract, he or she must disaffirm the entire contract.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 13
Chapter 12: Defenses to Contract Enforceability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75511
Sample Questions
Q1) Wilma, who lives in New York, enters into a contract to buy a painting from Fred, who lives in France. The contract includes all the costs of insuring and shipping the painting from France to New York. The agent that made the shipping estimate makes a mistake when adding up the costs and, as a result, the shipping cost listed in the contract is $1,000 less than the shipping actually costs. A court will most likely
A) allow the parties to rescind the contract.
B) award damages to Wilma for the mistakes.
C) award damages to Fred for the mistakes.
D) enforce the contract without requiring changes.
Q2) Big Dog Security Service, Inc. orally agrees to provide security services for NorthGate Mall for as long as NorthGate Mall requires them. This contract is enforceable by
A) Big Dog Security only.
B) NorthGate Mall only.
C) either party.
D) neither party.
Q3) A prenuptial agreement must be in writing to be enforceable.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter
13:
Third Party Rights and Discharge
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75512
Sample Questions
Q1) Hal contracts with Credit Services, Inc. (CSI), to pay $500 for its services. After CSI performs, they sign an accord, in which Hal promises to pay $400 within ten days instead of the $500. Hal does not pay. CSI can sue Hal under
A) neither the accord nor the contract.
B) the accord only.
C) the accord or the contract.
D) the contract only.
Q2) Jayson and MaryElise enter into a contract. Jayson agrees to mow MaryElise's yard every week for the summer. MaryElise is the
A) obligor.
B) obligee.
C) assignee.
D) assignor.
Q3) A novation does not require the extinguishing of the old obligation.
A)True
B)False
Q4) The only way that a party can discharge a contract is by performance.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Breach and Remedies
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75513
Sample Questions
Q1) The measurement of compensatory damages for breach of contract is the same for all types of contracts.
A)True
B)False
Q2) Rig Heli-Pads, Inc., enters into a contract to employ Scott as an on-site project manager for two years. If Rig breaches the contract, Scott has a duty to
A) do nothing.
B) reduce the damages that Scott might otherwise suffer.
C) rescind the contract with Rig.
D) punish Rig and set an example to deter others from similar acts.
Q3) Ordinarily, the remedy for a seller's breach of a contract for a sale of real estate is damages.
A)True
B)False
Q4) Restitution involves one party's recapture of a benefit through which another party has been unjustly enriched.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 16
Chapter 15: The Formation of Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75514
Sample Questions
Q1) Future goods are goods that are not both existing and identified to the contract.
A)True
B)False
Q2) In the following situations, two parties claim the same goods. Who is most likely to prevail in each circumstance? Explain.
(a) Olan steals Phil's television set and sells it to Quincy, an innocent purchaser, for value. Phil learns Quincy has the set and demands its return.
(b) Riley takes his television set for repair to Slick, a merchant who sells new and used television sets. By accident, one of Slick's employees sells the set to Tuna, an innocent purchaser-customer, who takes possession. Riley wants his set back from Tuna.
Q3) 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
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: Performance and Breach of Sales Lease Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75515
Sample Questions
Q1) Mineral Resource Company contracts to provide several manufacturers with tin. When a cartel of tin-producing countries suddenly embargoes future shipments of tin to Mineral Resource so that it cannot fulfill its contracts, the distributor
A) can substitute some other material for the tin.
B) is excused from the performance of its contracts.
C) is liable for breach of contract.
D) must still supply the tin needs of its customers.
Q2) If the goods or their tender fail to conform to the contract, the buyer can accept part and reject part.
A)True
B)False
Q3) Pine Mills Corporation and Ur-Choice Lumberyards enter into a contract for a sale of plywood. Under 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) inspect the goods before tendering their delivery.
D) place the goods into the hands of a carrier.
To view all questions and flashcards with answers, click on the resource link above.
Page 18
Chapter 17: Warranties and Product Liability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75516
Sample Questions
Q1) A design defect is not the sort of product defect that will support the imposition of liability on a strict product liability basis.
A)True
B)False
Q2) An action in strict product liability requires that the product not be in a defective condition when the defendant sells it.
A)True
B)False
Q3) Goods must be of the highest quality possible to be merchantable.
A)True B)False
Q4) In sales law, there is only one type of warranty of title. A)True
B)False
Q5) For consumer goods costing more than $25, a written warranty must be labeled "full" or "limited."
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Negotiable Instruments: Transferability Liability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75517
Sample Questions
Q1) Eppie gives a check to Fund Investments to buy 100 shares of stock in GR8 Tech Corporation for Eppie. The price of the shares is constantly fluctuating. Fund Investments asks Eppie to leave the amount of the check blank and allow it to fill in the price when making the purchase. Eppie agrees. Fund Investments buys the stock when the price is $4,000, but fills in the check for $5,000. The check is negotiated as payment for a $5,000 debt to Hasty Accounting Services, which takes the check in good faith and without notice of Fund Investments' act. Hasty later learns that Fund Investments was not authorized to fill in the check for $1,000 over the price. Is Hasty an HDC? If so, for how much?
Q2) At 1 a.m., on the sidewalk in front of Ace Credit Corporation, which is closed, Ben buys a $500 promissory note for $50 from Curt. When presented with Ben's demand for payment, Diann, the maker of the note, could successfully claim that Ben
A) acquired the note with notice that it was overdue.
B) did not acquire the instrument in good faith.
C) did not give value for the instrument.
D) none of the choices.
Q3) To be negotiable, an instrument must be payable in a fixed amount.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 20
Chapter 19: Checks and Banking in the Digital Age
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75518
Sample Questions
Q1) A customer must examine a bank statement and report any discovered forged signature to recover from the bank for the forgery.
A)True
B)False
Q2) Refer to Fact Pattern 19-2. Tom's bank is
A) the cashing bank.
B) the depositary bank.
C) the intermediary bank.
D) the payor bank.
Q3) Hoppy steals two checks from Eagle Retail Stores, Inc.-a blank check and a check payable to the order of General Supplies Company (GSC), drawn on Eagle's account with First National Bank. Hoppy forges Eagle's signature on the blank check and makes it payable to himself. Hoppy forges GSC's indorsement on the back of the check payable to GSC, and adds "Pay to the order of Hoppy." At Friendly Credit, Inc., Hoppy indorses the back of both checks with his own name and gives them to Friendly for cash. Friendly does not know about the theft or the forged signatures and presents the checks to First National, which pays them. Eagle, which was not negligent, discovers the forgeries and asks First National to recredit its account. Who suffers the loss on each check?
To view all questions and flashcards with answers, click on the resource link above.
21
Chapter 20: Secured Transactions
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75519
Sample Questions
Q1) Jane is the secured party in a secured transaction with Margaret. Jane could also be referred to as the
A) debtor.
B) secured creditor.
C) collateral.
D) filing officer.
Q2) The method of perfecting a security interest does not depend on the classification of the collateral.
A)True
B)False
Q3) Pete borrows $5,000 from Willy in a secured transaction using Pete's BMW as collateral. Pete then borrows $7,000 from Janet using the same car as collateral. Neither Willy nor Janet perfects their security interests. Pete defaults on the loans. The party with priority is
A) Willy, because his interest was the first to attach.
B) Janet, because Pete owes her more money.
C) Janet, because her interest was the second to attach.
D) Willy, because Pete owes him less money.
To view all questions and flashcards with answers, click on the resource link above.
22
Chapter 21: Creditors Rights and Bankruptcy
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75520
Sample Questions
Q1) A Chapter 11 reorganization plan must provide for payment of tax claims over a five-year period.
A)True
B)False
Q2) Refer to Fact Pattern 21-1. Nina may recover
A) $0.
B) $30,000.
C) $50,000.
D) $60,000.
Q3) Jay files a bankruptcy petition under Chapter 7. Among his debts are unpaid taxes, fines owed to the government, student loans owed to Mega University, and support owed to his ex-wife Kris. Most likely to be discharged are
A) the back taxes if they accrued within the previous three years.
B) the fines if they have been outstanding less than eight years.
C) the student loans if their payment would impose undue hardship.
D) the support debts.
Q4) Child-support debts will be suspended by a voluntary bankruptcy filing.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: Mortgages Foreclosures After the Recession
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75521
Sample Questions
Q1) With an interest-only mortgage, the borrower can choose to pay only the interest portion of the monthly payment for a specified period of time.
A)True
B)False
Q2) A deficiency judgment requires a borrower to pay the amount of debt remaining after the collateral is sold.
A)True
B)False
Q3) Darwin borrows $200,000 from Evermore Bank to buy a home. Less than six months into the term, Darwin stops making payments on the loan. To initiate the process to repossess and auction off the property securing the loan, Evermore must
A) issue a notice of sale to the borrower.
B) offer the property for sale in an auction on the courthouse steps.
C) record a notice of default with the appropriate county office.
D) resort to litigation to establish clear ownership of the property.
Q4) Home equity is the portion of a home's value that is "paid off."
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 24
Chapter 23: Agency Relationships in Business
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75522
Sample Questions
Q1) An independent contractor is an employer who controls his or her agent's performance.
A)True B)False
Q2) An agent has a duty to keep and make available to the principal an account of all property and funds received and paid out on behalf of the principal.
A)True B)False
Q3) It is basic tenet of agency law that notice to the agent is notice to the principal.
A)True
B)False
Q4) Bayou Development Corporation (BDC) hires Gulfview Brokerage Associates to sell the condominiums in a building at BDC's coastal resort. The agency will terminate A) after the condos have been sold.
B) if the prices of the condos must be reduced to sell them.
C) once BDC obtains insurance to cover the property.
D) when BDC pays Gulfview its first commission.
To view all questions and flashcards with answers, click on the resource link above.
25
Chapter 24: Employment, Immigration, and Labor Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75523
Sample Questions
Q1) The privacy rights of private-sector employees are governed by state law, which varies widely.
A)True
B)False
Q2) Mythic Games Company employs two hundred workers full-time. If Mythic Games plans to have a mass layoff, it must provide its employees with at least
A) thirty days of notice.
B) sixty days of notice.
C) ninety days of notice.
D) one year of notice.
Q3) An employer may avoid laws regulating monitoring activities by informing employees that they are subject to monitoring.
A)True
B)False
Q4) Generally, an employer's monitoring of electronic communications in the workplace does not violate employees' privacy rights.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 26
Chapter 25: Employment Discrimination and Diversity
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75524
Sample Questions
Q1) If a job applicant or an employee with a disability, with reasonable accommodation, can perform essential job functions, the employer must make the accommodation.
A)True
B)False
Q2) Dakota believes that Credit Services Corporation (CSC) has discriminated against her on the basis of gender. She files a suit against CSC under the Civil Rights Act of 1964. To establish a prima facie case of employment discrimination, Dakota must show that A) she is a member of a protected class.
B) CSC has no legal defenses against the claim.
C) discriminatory intent motivated CSC's act.
D) no other firm in CSC's industry has committed a discriminatory act.
Q3) When the harassment by co-workers creates a hostile working environment, an employee may have a cause of action against the employer. A)True
B)False
Q4) Sexual harassment occurs only if sexual favors are demanded of an employee. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 27
Chapter 26: Sole Proprietorships and Private Franchises
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75525
Sample Questions
Q1) The duration of a franchise is a matter to be determined between the parties.
A)True
B)False
Q2) A franchise is a contractual arrangement.
A)True
B)False
Q3) Pronto Tacos LLC grants a franchise to Omar to open and operate a Pronto Tacos restaurant. Pronto will likely charge Omar
A) an initial fee or lump sum price for the franchise license.
B) a percentage of Omar's weekly payroll expense.
C) an amount of Omar's monthly overhead savings, if any.
D) none of the choices.
Q4) In a sole proprietorship, the proprietor shares the burden of any losses or liabilities incurred by the business enterprise with the government.
A)True B)False
Q5) A sole proprietorship lacks continuity on the death of the proprietor.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 28
Chapter 27: All Forms of Partnership
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75526
Sample Questions
Q1) In a limited partnership, a general partner has full responsibility for the partnership and for all its debts.
A)True
B)False
Q2) Clu, Dolf, and Elton do business as Fertile Valley Farm. Clu's relationship to the firm ends, but it continues to do business. This is
A) dissociation.
B) dissolution.
C) winding up.
D) wrongful.
Q3) A partner may dissociate from a partnership by declaring bankruptcy..
A)True
B)False
Q4) Any event that makes its unlawful for a partnership to continue its business will result in dissolution.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 29
Chapter 28: Limited Liability Companies Special Business
Forms
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75527
Sample Questions
Q1) A limited liability company must be managed by its members.
A)True
B)False
Q2) Simone is a manager of Rolling Hills Resort LLC, a limited liability company. Rolling Hills is formed in a state that does not explicitly create fiduciary duties for LLC managers but does require the exercise of good business judgment. Unless a court rules otherwise, Simone owes fiduciary duties to
A) Rolling Hills's members.
B) Rolling Hills's suppliers.
C) Rolling Hills's customers.
D) none of the choices.
Q3) Chocolate Sundry LLC's members and managers are Devlin, Effie, and Flavia. After Devlin's relationship to the firm ends, Effie and Flavia agree to discontinue the business. This is
A) illegal.
B) optional.
C) required.
D) wrongful.
To view all questions and flashcards with answers, click on the resource link above. Page 30
Chapter 29: Corporate Formation, Merger, and Termination
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75528
Sample Questions
Q1) Boutique Corporation would like to change its corporate status to that of an S corporation to avoid income taxes at the corporate level. To qualify, the shareholders must not be
A) corporations.
B) estates.
C) individuals.
D) partnerships.
Q2) The day-to-day business of a corporation is managed by officers employed by the board of directors.
A)True
B)False
Q3) Precise Device Corporation and Quality Instruments, Inc., decide to merge. This corporate combination does not require the approval of
A) Precise and Quality's directors.
B) Precise and Quality's officers and employees.
C) Precise's shareholders.
D) Quality's shareholders.
To view all questions and flashcards with answers, click on the resource link above. Page 31
Chapter 30: Management and Ownership of a Corporation
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75529
Sample Questions
Q1) Josh is a director of Sippy Soups, Inc. Josh opposes a tender offer that is in Sippy's best interest because its acceptance would cost him his position as a director. Josh is liable for a breach of duty of
A) no duty or rule.
B) the business judgment rule.
C) the duty of care.
D) the duty of loyalty.
Q2) Bea is a shareholder of Candy Confections Corporation. The right to inspect corporate books and records is
A) held by Bea only if she is a director.
B) held by Bea, without restrictions.
C) held by Bea, with some restrictions.
D) not held by Bea.
Q3) A corporate officer cannot act as an agent of the corporation.
A)True
B)False
Q4) Shareholders' meetings must occur at least annually.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 32
Chapter 31: Investor Protection, Insider Trading, Corp Gov
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75530
Sample Questions
Q1) Sales of securities must occur within five days of registration.
A)True
B)False
Q2) Generally, federal securities law are patterned after states' antifraud laws.
A)True
B)False
Q3) Squeaky Clean Corporation wants to make an offering of securities to the public. This offering is not exempt from registration under the Securities Act of 1933. Before Squeaky sells its securities, it must provide investors with A) a forward-looking financial forecast.
B) an investment contract.
C) a prospectus.
D) samples of its products.
Q4) North American Properties, Inc., and its officers, directors, and shareholders, buy and sell securities. Section 16(b) of the Securities Exchange Act of 1934 covers A) all purchases and sales of securities.
B) only purchases and sales of securities involving misappropriation.
C) only purchases and sales of securities involving short-swing profits.
D) only purchases and sales of securities involving tippers and tippees.
To view all questions and flashcards with answers, click on the resource link above. Page 33
Chapter 32: Promoting Competition
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75531
Sample Questions
Q1) Edgy Engine Components, Inc., a maker of vehicle parts, refuses to sell to Fidgety Fix-It, Inc., a national vehicle service firm. Edgy Engine convinces Greasy Motor Parts Company, a competitor, to do the same. This is
A) a group boycott.
B) a market division.
C) a joint venture.
D) an exclusive-dealing contract.
Q2) Refer to Fact Pattern 32-1. Cardio pays Emitate not to sell its product. This is
A) a customer restriction.
B) a joint venture.
C) an exclusive-dealing contract.
D) a price-fixing agreement.
Q3) In determining the legality of a merger, a crucial consideration is market concentration.
A)True
B)False
Q4) A group boycott is not a per se violation.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 34
Chapter 33: Consumer and Environmental Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75532
Sample Questions
Q1) Kirk receives an unsolicited credit card in the mail and tosses it on his desk. Without Kirk's permission, his roommate Leif uses the card to buy a new laptop for $1,800. Kirk is A) liable for $1,000.
B) liable for $500.
C) liable for $50.
D) not liable for any amount.
Q2) The Environmental Protection Agency sets minimum levels for pollutants in public water systems.
A)True
B)False
Q3) Special requirements must be met to discharge toxic chemicals into surface waters. A)True
B)False
Q4) Advertising will not be deemed deceptive so long as it appears to be based on factual evidence, even if it is not.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 35
Chapter 34: Liability of Accountants Other Professionals
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75533
Sample Questions
Q1) Lucille, an accountant, is subject to the accounting conventions, rules, and procedures that constitute generally accepted accounting principles (GAAP). GAAP are determined by
A) the International Accounting Standards Board.
B) the American Bar Association.
C) the American Institute of Certified Public Accountants.
D) the Financial Accounting Standards Board.
Q2) An accountant is not liable for a misstatement to a purchaser of securities who knew of the misstatement but invested anyway.
A)True
B)False
Q3) Penalties for aiding or assisting in the preparation of false tax returns are limited to one penalty per taxpayer per tax year.
A)True
B)False
Q4) An accountant normally will be held liable to the client for incorrect judgment. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 36
Chapter 35: Personal Property and Bailments
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75534
Sample Questions
Q1) Inadvertently, Brent leaves his backpack at Chat n' Coffee when he stops for coffee and an hour of Facebook. The backpack is
A) abandoned property.
B) bailed property.
C) lost property.
D) mislaid property.
Q2) Nero and Olav each buy certain quantities of oil to sell to Petro Refinery, and agree to share storage costs until Petro can take delivery. The oil is commingled so that Nero's oil cannot be distinguished from Olav's. This is A) accession.
B) confusion.
C) conversion.
D) irresolution.
Q3) Marcy goes hunting out of season and shoots an endangered species of deer in a national park. Marcy's acquisition of the deer is A) by production.
B) illegal.
C) by confusion.
D) by possession.
To view all questions and flashcards with answers, click on the resource link above.
Page 37
Chapter 36: Real Property and Landlord-Tenant Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75535
Sample Questions
Q1) A license is the revocable right of a person to come onto another person's land.
A)True
B)False
Q2) Plant life is not considered to be real property.
A)True
B)False
Q3) LaDonna signs a one-year lease with Mae to occupy an apartment in Ames, Iowa, near the University of Iowa. LaDonna needs the apartment only for two semesters and may have to sublet it for the rest of the term. LaDonna's tenancy is
A) a periodic tenancy.
B) a tenancy at will.
C) a tenancy at sufferance.
D) a fixed-term tenancy.
Q4) Even after a tenant sublets leased premises, the tenant may be obligated to pay rent.
A)True
B)False
Q5) Generally, a tenant must pay agreed-to rent even if the tenant moves out.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 38
Chapter 37: Insurance, Wills, and Trusts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/75536
Sample Questions
Q1) A divorce revokes an entire will.
A)True
B)False
Q2) A party must own property to have an insurable interest in it.
A)True
B)False
Q3) The assets in Hong's estate, including the value of his home on Elm Street and its contents, are insufficient to pay in full all of the gifts provided for in his will. His heirs will receive
A) full payment in order of seniority until the assets are exhausted.
B) nothing-the assets will descend to the state.
C) reduced benefits.
D) the option of distributing the assets according to their wishes.
Q4) Benny dies without a will, with no surviving spouse or child. Benny's survivors include his granddaughter Callie, his nephew Duncan, and his cousin Earl. In most states, his estate would pass to
A) Callie.
B) Duncan.
C) Earl.
D) the state.
Page 39
To view all questions and flashcards with answers, click on the resource link above.