Ethics, Law, and Corporate Responsibility Midterm Exam - 2000 Verified Questions

Ethics, Law, and Corporate Responsibility Midterm Exam https://quizplus.com/study-set/2317 25 Chapters 2000 Verified Questions

Ethics, Law, and Corporate Responsibility Midterm Exam Course Introduction This course explores the intersection of ethical principles, legal frameworks, and corporate

responsibility

foundational

ethical

in

modern

theories

and

business their

environments.

practical

Students

application

to

examine business

decision-making, address the role of national and international laws in regulating corporate behavior, and analyze real-world case studies highlighting issues such as corporate governance, stakeholder rights, social and environmental responsibility, and compliance. The course encourages critical thinking about the ethical obligations of businesses to society and the importance of fostering a culture of integrity within organizations.

Recommended Textbook Legal Environment of Business A Managerial Approach 3rd Edition by Sean Melvin

Available Study Resources on Quizplus 25 Chapters 2000 Verified Questions 2000 Flashcards Source URL: https://quizplus.com/study-set/2317

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Chapter 1: Legal Foundations Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46073

Sample Questions Q1) Restatements of the Law are written and revised by Congress and state legislatures as needed. A)True B)False Answer: False Q2) A collection of uniform legal principles focused on a particular area of traditional state law is called The _______ of the Law. Answer: Restatements Q3) A judicial opinion is also referred to as _______ the of the case. Answer: holding Q4) Name the three essential functions of the U.S.Constitution. Answer: The Constitution addresses three broad areas: (1)establishing a state and federal government structure with qualifications for certain offices and positions and rules for amending the Constitution; (2)granting specific powers to the three branches of the federal government; and (3)providing procedural protections for U.S.citizens from wrongful government actions. Q5) Much of the origins of the law dealt with issues related to _______. Answer: property ownership To view all questions and flashcards with answers, click on the resource link above. Page 3

Chapter 2: Business and the Constitution Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46074

Sample Questions Q1) Which of the following is not a procedural due process issue? A) Police must obtain a search warrant to enter and search a citizen's home for drugs. B) The state of Massachusetts raised the drinking age to 25 years old. C) The state of Oklahoma passes a statute prohibiting citizens from presenting evidence in drunk-driving trials. D) The state of California passes a statute allowing relatives of victims of violent crimes to sit on the jury in the general trial court. Answer: B Q2) The Equal Protection Clause is contained in the A) First Amendment. B) Fifth Amendment. C) Sixth Amendment. D) Fourteenth Amendment. Answer: D Q3) The right of a state to protect its citizenry is called its _______. Answer: police powers Q4) The government's system of checks and balances is called _______. Answer: separation of powers To view all questions and flashcards with answers, click on the resource link above. Page 4

Chapter 3: The American Judicial System, Jurisdiction and Venue Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46075

Sample Questions Q1) Which of the following will not create minimum contacts in a state sufficient to find personal jurisdiction on an out-of-state defendant? A) A company maintains a website that provides information about its products and that provides an address or number that a customer can contact to obtain an order form to purchase products directly from the company. B) A company maintains an office in the forum state that is manned once a week by employees. C) A company sends sales personnel into the forum state to conduct business but does not maintain an office within the forum state. D) A company maintains no physical office within a state and does not send sales personnel to the state to conduct business, but it target advertises in the forum state, providing special products and discounts for the forum state's residents. Answer: A Q2) Once a federal judge is confirmed and sworn in,he or she may be removed only by death,retirement,or _______. Answer: impeachment To view all questions and flashcards with answers, click on the resource link above.

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Chapter 4: Resolving Disputes: Litigation and Alternative Dispute Resolution Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46076

Sample Questions Q1) Liana and Sabine had a motor vehicle accident,and Sabine has sued Liana claiming severe back injuries.If Liana wants to obtain a copy of Sabine's doctor and hospital reports,she should serve a request for admissions to Sabine. A)True B)False Q2) The primary difference between arbitration and other forms of ADR is that arbitration is quicker. A)True B)False Q3) To successfully pursue a lawsuit,the plaintiff must evidence standing to sue.What must the plaintiff prove in order to establish standing to sue? Q4) Which of the following is categorized as informal ADR? A) negotiation B) mediation C) arbitration D) med-arb Q5) A jury that cannot agree on a verdict is called a ____ jury. Page 6 Q6) In some special types of cases such as divorce,the defendant is instead called a ____. To view all questions and flashcards with answers, click on the resource link above.

Chapter 5: Business, Societal, and Ethical Contexts of Law Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46077

Sample Questions Q1) Toby's company has a code of ethics and a separate code of conduct.If he would like to find out about the company's expectations or requirements regarding community service,he would reference the code of ethics. A)True B)False Q2) The utilitarian approach to moral philosophy was founded by A) Jeremy Bentham. B) Immanuel Kant. C) Cicero. D) Kenneth Lay. Q3) Each of the following is a key component in the creation and implementation of a company's values management program except A) identifying the values that the company should promote. B) identifying the values that the company's peer competitors promote. C) developing written policies and procedures to align behaviors with the company's preferred values. D) training personnel about the policies and procedures implemented. Q4) The notion of _______ is a central theme in Immanuel Kant's work. Q5) What is the difference between ethics and morals? 7 click on the resource link above. To view all questions and flashcards with Page answers,

Chapter 6: Overview and Language of Contracts Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46078

Sample Questions Q1) In general,contracts for the sale of goods are governed by: A) state common law. B) state statutory law based on the Uniform Commercial Code. C) federal regulations. D) the Uniform Commercial Code. Q2) Which of the following is formed to remedy unjust enrichment? A) implied contract B) contract based on promissory estoppel C) express contract D) quasi-contract Q3) Most advertisements in the mass media are not offers because they A) are specific enough to constitute a unilateral contract. B) require that the consumer accept the offer in a specific manner. C) contain a specific commitment to sell. D) do not contain a specific commitment to sell. Q4) Parties must be of proper age and mental competence to have _______ to contract. Q5) A contract is a promise or set of promises _______ by law. Q6) In lawsuits that involve both goods and services,how is the proper source of law to Page 8 enforce and govern the agreement established? Q7) The reason and outcome of the contract must be for a _______ purpose. To view all questions and flashcards with answers, click on the resource link above.

Chapter 7: Contract Enforceability and Performance Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46079

Sample Questions Q1) Patios R Us contracts with Karl's Concrete to have 35 yards of concrete delivered to a job site it is working on.Payment is to be made 30 days after delivery.Five days after the concrete is delivered,Patios R Us files for bankruptcy and the filing is accepted by the court.Karl cannot sue to enforce the contract and receive payment. A)True B)False Q2) In which of the following situations would a delegation of contractual duties be allowed? A) A surgeon performing brain surgery. B) An actor hired to perform in a play. C) A sculptor hired to sculpt your bust. D) A painter hired to paint your home. Q3) Damages intended to punish a wrongdoer are called A) nominal damages. B) consequential damages. C) punitive damages. D) compensatory damages. Q4) In some states,another name for a "statute of limitations" is a "statute of _______." To view all questions and flashcards with answers, click on the resource link above. Page 9

Chapter 8: Contracts for the Sale of Goods Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46080

Sample Questions Q1) A significant change or deviation from the terms of a contract is called a _______ change. Q2) Absent specific agreements between the parties,the reasonableness requirement of the UCC governing delivery of goods requires each of the following except A) the goods must be delivered in one shipment. B) the goods must be delivered at a reasonable hour. C) the goods must be delivered on a weekday. D) the goods must be delivered in a reasonable manner. Q3) Normally,the buyer's offer in a commercial transaction takes the form of A) a personal letter. B) a purchase order. C) an acknowledgment form. D) a phone call with the parties directly speaking with each other. Q4) What is the underlying goal and function of the UCC,and why is it crucial to business? Q5) Explain how the UCC "battle of the forms" is resolved in nonmerchant and in merchant transactions. Q6) A _______ is one that is regularly engaged in the sale of a particular good. Q7) _______ is the legal term for the right of ownership in goods. Page 10 To view all questions and flashcards with answers, click on the resource link above.

Chapter 9: Torts and Products Liability Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46081

Sample Questions Q1) Alec drives drunk and causes a collision,killing Toni.When Toni's grandmother hears the news,she has a heart attack and dies.Can Alec be successfully sued for negligence in causing the grandmother's death? Q2) The point at which liability for negligence stops is called A) proximate cause. B) negligence per se. C) res ipsa loquitur. D) negligence interruptus. Q3) Your professor is in the middle of her lecture when the dean from a competing school walks into class and offers her a position at his school at double her present salary.When she asks when the position will start,he says tomorrow.Your professor looks at the class,says good-bye,and walks out to start cleaning out her office.Your school can sue your professor for tortious interference with an existing contractual relationship. A)True B)False Q4) Jini's having a party and has invited her friends to her home.These social guests would be legally classified as _______. Q5) Lost revenue or profits,whether actual or potential,are called _______ harm. To view all questions and flashcards with answers, click on the resource link above. Page 11

Chapter 10: Agency Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46082

Sample Questions Q1) An independent contractor is not considered an employee but is entitled to minimum wage and overtime protections. A)True B)False Q2) The doctrine of negligent hiring applies to independent contractors only when the contractor is hired to do a hazardous or inherently dangerous job. A)True B)False Q3) An express termination of the agency relationship by the agent is called a renunciation. A)True B)False Q4) One of the principal's duties is to keep an accounting during the agency relationship. A)True B)False Q5) Why is it important for agents to accurately define their role when signing contracts on behalf of a principal? Q6) Explain the three-prong test the IRS uses to determine an agent's status. To view all questions and flashcards withPage answers, 12 click on the resource link above.

Chapter 11: Employment Relationships and Labor Law Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46083

Sample Questions Q1) Explain how the Electronic Communications Privacy Act applies to employee privacy and protections. Q2) The Fair Labor Standards Act imposes restrictions on hiring workers under A) 18 years old. B) 17 years old. C) 16 years old. D) 15 years old. Q3) The Labor Management Relations Act gives the president of the United States the right to suspend a strike for up to _______ in times of national emergency. A) 80 days B) 90 days C) 120 days D) 180 days Q4) COBRA requires that employers provide health care coverage,at the former employee's cost,for up to _______ after the employee leaves the company. Q5) The purpose of the 1959 enactment of the Labor-Management Reporting and Disclosure Act was to uncover fraud and prevent corruption among union officials.How does the Act operate to accomplish this goal? To view all questions and flashcards with answers, click on the resource link above. Page 13

Chapter 12: Employment Discrimination Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46084

Sample Questions Q1) Under the Age Discrimination in Employment Act,to maintain a valid claim,the replacement employee must be substantially younger than the terminated employee and must be a member of a recognized protected class. A)True B)False Q2) The EEOC is a _______-member commission. A) 5 B) 10 C) 15 D) 20 Q3) The Equal Pay Act was written to prohibit racial discrimination in pay. A)True B)False Q4) A disability,as defined in the Americans with Disabilities Act,is an impairment that significantly limits a person's ability to participate in a _______ activity. Q5) What procedures or policies should employers implement to protect themselves from charges of discrimination even when firing an employee for misconduct? Q6) Disparate impact is analyzed using the _______ standard. To view all questions and flashcards withPage answers, 14 click on the resource link above.

Chapter 13: Choice of Business Entity, Sole Proprietorships, and Partnerships Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46085

Sample Questions Q1) Which of the following does not require two or more principals? A) limited partnerships B) limited liability partnerships C) sole proprietorships D) limited liability companies Q2) General partnerships are pass-through entities regarding taxation; however,limited partnerships are not pass-through entities for taxes. A)True B)False Q3) With regard to dissociation and dissolution,the Revised Uniform Partnership Act adopted and reserved the same general rules and procedures as its predecessor,the Uniform Partnership Act. A)True B)False Q4) Franchises are regulated by a franchise agreement. A)True B)False Q5) Business entities are sometimes referred to as business _______. Page 15 Q6) Business owners are also known as _______. To view all questions and flashcards with answers, click on the resource link above.

Chapter 14: Limited Liability Companies and Limited Liability Partnerships Available Study Resources on Quizplus for this Chatper 79 Verified Questions 79 Flashcards Source URL: https://quizplus.com/quiz/46086

Sample Questions Q1) Trish is a partner in an LLP,and the partnership is having a cash flow problem.To alleviate the problem,the partnership has initiated a capital call for each partner to contribute an additional $25,000 to the business.If Trish cannot come up with the necessary funds,she may be forced to sell her interest in the partnership. A)True B)False Q2) Jones LLC and Smith LLC both have 10 members and 5 managing members.Both entities go into dissolution.The procedures for dissolution,including preferences of members in terms of who is paid first and so on,will be identical for both companies. A)True B)False Q3) The first LLP legislation was enacted in A) New York. B) Texas. C) Florida. D) Iowa. Q4) How do member-managed and manager-managed LLC management structures differ?

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Chapter 15: Corporations Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46087

Sample Questions Q1) When planning to incorporate,a start-up business must file for incorporation in the state in which it originally plans to do business. A)True B)False Q2) A new start-up corporation has gone to a bank for a commercial loan.Recognizing the start-up status of the business and the limited assets the corporation currently possesses,the bank may require that either collateral be pledged or a personal guarantee be signed by shareholders to protect its interests,but it may not require both. A)True B)False Q3) Both the number of shareholders and the permitted total of gross revenues are limited in a privately held corporation. A)True B)False Q4) Describe the corporate opportunity doctrine.What factors does the court examine to determine whether an opportunity belongs to a corporation? Q5) Officers,directors,and controlling shareholders are often called _______. To view all questions and flashcards with answers, click on the resource link above. Page 17

Chapter 16: Regulation of Securities, Corporate Governance, and Financial Markets Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46088

Sample Questions Q1) Rule 10(b) (5)of the 34 Act is aggressively used by the SEC in terms of insider-trading enforcement. A)True B)False Q2) The SEC's computer database,which maintains the national clearinghouse for public corporation disclosures,is known as _______. Q3) In what two ways do federal securities statutes define a security? Q4) Only Congress may enact securities regulations,and only the courts may interpret securities statutes. A)True B)False Q5) Section 16 of the 1934 Act defines an insider as an officer,director,or shareholder who owns _______ or more of the company's total stock. A) 5 percent B) 10 percent C) 15 percent D) 20 percent Page 18 Q6) Evidence of specific intent to deceive,manipulate,or defraud is called _______. Q7) On a bond,the face amount is also called the _______. To view all questions and flashcards with answers, click on the resource link above.

Chapter 17: Administrative Law Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46089

Sample Questions Q1) How do citizen suits work in the context of administrative law? Q2) For which of the following is a license issued by a federal,rather than a state,agency? A) lawyers B) broadcast frequencies C) hairstylists D) physicians Q3) The SEC's issuing of licenses to individuals to trade stocks is not an agency function because it is regulating individuals and not businesses. A)True B)False Q4) The president's authority to exercise power over administrative agencies is derived from A) federal law. B) judicial decisions. C) the Constitution. D) congressional delegations. Q5) What is the logical-outgrowth test? Q6) What are the four primary functions of administrative agencies? Q7) Administrative agencies exercise their policymaking function through _______. Page 19 To view all questions and flashcards with answers, click on the resource link above.

Chapter 18: Environmental Law Available Study Resources on Quizplus for this Chatper 81 Verified Questions 81 Flashcards Source URL: https://quizplus.com/quiz/46090

Sample Questions Q1) A pre-existing factory has a permit to emit pollution at a specified level under the Clean Air Act.Due to increased demand for production,the factory owner plans to upgrade its facilities,which could affect the amount of pollution emitted by the plant.What steps must the factory owner take to remain in compliance with the CAA? Are there specific concerns that the factory owner must consider? Explain. Q2) The Environmental Impact Statement (EIS)is a procedural requirement for any action that might affect the environment. A)True B)False Q3) A market-based approach does not give a business options about how to comply with pollution standards. A)True B)False Q4) The National Environmental Policy Act (NEPA)focuses on achieving results like clean air and water. A)True B)False Q5) The _______ Act is the most important wildlife protection legislation. To view all questions and flashcards with answers, click on the resource link above. Page 20

Chapter 19: Antitrust and Regulation of Competition Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46091

Sample Questions Q1) The district court's order for Microsoft to break apart into multiple entities in U.S.v.Microsoft was overturned on appeal. A)True B)False Q2) The courts have adopted a soft per se analysis for cases involving tying agreements. A)True B)False Q3) What evidence may a company offer in defense to allegations of an antitrust violation under the rule of reason standard? A) The anticompetitive harm was not harmful to the government. B) If the company violates the standard, there is no defense. C) Its actions were justified and necessary under the economic conditions. D) There was no economic harm to the consumer. Q4) Which of the following is not a vertical restraint? A) Market allocation. B) Tying agreements. C) Exclusive selling, territorial, and dealing agreements. D) Price-fixing. To view all questions and flashcards with answers, click on the resource link above. Page 21

Chapter 20: Creditors Rights and Bankruptcy Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46092

Sample Questions Q1) Creditors have the power to force a company into bankruptcy proceedings. A)True B)False Q2) Business entities that file for bankruptcy under Chapter 7 may be permitted to keep some exempt property. A)True B)False Q3) When a business no longer has enough money to pay its bills and maintain operations,it is considered to be _______. Q4) Possession of collateral by a secured party is a valid method of perfecting a security interest. A)True B)False Q5) Which businesses typically need a personal guaranty in order to receive a loan? A) large businesses B) small businesses C) almost all businesses D) no businesses (Businesses do not need personal guaranties.) Q6) What is the means test? Provide an example of how it would be applied. Page 22 Q7) Describe the role of a trustee in bankruptcy proceedings. To view all questions and flashcards with answers, click on the resource link above.

Chapter 21: Warranties and Consumer Protection Law Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46093

Sample Questions Q1) The _______ Act establishes a national fraud alert system so that consumers have a timely way to guard their credit. Q2) The FDA has authority to bring criminal prosecutions. A)True B)False Q3) The Equal Credit Opportunity Act is limited to regulating applications for credit and does not apply to the charging of higher interest rates based on the race of the consumer. A)True B)False Q4) Under the Truth in Lending Act,creditors have a week to notify consumers of their right to cancel the transaction. A)True B)False Q5) Individual consumers do not have the right to see their own credit report unless they are applying for a loan. A)True B)False Q6) Name and discuss the two categories of warranties. Page 23 To view all questions and flashcards with answers, click on the resource link above.

Chapter 22: Criminal Law and Procedure in Business Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46094

Sample Questions Q1) It is possible for authorities to conduct an illegal search of your home without ever entering your property or the home itself. A)True B)False Q2) Maria is the CFO of a company being investigated by the SEC for various alleged violations.Each of the following would constitute an obstruction of justice except A) ordering her secretary to lie if she is questioned. B) refusing to answer questions and invoking the Fifth Amendment. C) shredding her personal calendar and appointment book. D) changing some figures on documents used to support filed financial statements. Q3) Felonies generally are punishable by A) three months or more of incarceration. B) six months or more of incarceration. C) nine months or more of incarceration. D) twelve months or more of incarceration. Q4) Being blameworthy in criminal law is called _______. Q5) What effect have mandatory sentencing guidelines had on the judiciary and criminal punishment in general? To view all questions and flashcards with answers, click on the resource link above. Page 24

Chapter 23: Personal Property, Real Property, and Land Use Law Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46095

Sample Questions Q1) A piece of personal property affixed to real property is called a _______. Q2) Assume that you are a freshman and live in your school's dormitory.The agreement you've signed with the school states that you may move in on September 1 and must vacate the room by May 31 of the following year.Should you wish to live in the dormitory during your sophomore year,you must sign a completely new contract with the school.Your agreement with the school best approximates a A) fee simple defeasible. B) periodic tenancy. C) tenancy for years. D) easement by grant. Q3) Alessia has inherited 21 acres of land in Alaska.Since she has no urge to visit Alaska,she has never seen the land.Rondo and Jania have moved onto the land and erected a home.They have started using the land and have even fenced much of it in.There is no mortgage on the land,and Alessia doesn't receive a tax bill because Rondo and Jania pay the yearly taxes.After the statutory period in Alaska has run,Rondo and Jania would become the owners of the land. A)True B)False Q4) Structures erected on real estate arePage called 25_______. To view all questions and flashcards with answers, click on the resource link above.

Chapter 24: Intellectual Property Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46096

Sample Questions Q1) One significant benefit of obtaining a patent is that the cost of defending a patent is relatively minimal compared to the cost of other types of lawsuits. A)True B)False Q2) Why are trademarks worthy of protections as valuable business assets? Q3) Which of the following describes a literal patent infringement where the infringed device does more than is described in the patent application of the protected invention? A) rule of exactness B) rule of omission C) rule of inclusion D) rule of addition Q4) The doctrine of equivalence will negate the effect of the doctrine of omission if the new item performs substantially the same function as the already patented item. A)True B)False Q5) "After Tan" is an example of a[n] _______ trademark. Q6) Illegal acquisition of a company's trade secret constitutes _______. To view all questions and flashcards with answers, click on the resource link above. Page 26

Chapter 25: International Law and Global Commerce Available Study Resources on Quizplus for this Chatper 80 Verified Questions 80 Flashcards Source URL: https://quizplus.com/quiz/46097

Sample Questions Q1) What is the purpose of the Paris Convention? A) Extend national patent rights to foreign inventors who have patents in their home country. B) Place limits on the items that can be protected under trademark laws. C) Set requirements for filing for copyrights in foreign jurisdictions. D) Specify common standards for patentability around the world. Q2) Public international law primarily addresses relationships among countries,business entities,and international organizations. A)True B)False Q3) International Chamber of Commerce terms and abbreviations are usually used in conjunction with the CISG. A)True B)False Q4) _______ policy is primarily governed by the Paris Convention and the Madrid Protocol. Q5) The International Court of Justice primarily hears civil and criminal cases. A)True B)False 27 click on the resource link above. To view all questions and flashcards withPage answers,