Principles of Business Law Exam Preparation Guide
Course Introduction
Principles of Business Law introduces students to the fundamental legal concepts and frameworks that govern commercial activities in both national and international contexts. The course covers key topics such as the formation and enforcement of contracts, the structure and regulation of business organizations, the role of agency, employment law, tort liability, and the protection of intellectual property. Through case studies and real-world examples, students will develop an understanding of how legal principles impact business decision-making, risk management, and ethical conduct. This foundational knowledge equips learners to recognize legal issues in business operations and to communicate effectively with legal professionals.
Recommended Textbook
Business Law Text and Cases Commercial Law for Accountants 14th Edition by Roger LeRoy Miller
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Chapter 1: Business Ethics
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Q1) Destiny and Eduardo, investors in Competitive Acquisitions Corporation, are dissatisfied with the profit-maximization theory of corporate objectives. These investors and others who look beyond profits and dividends may consider the triple bottom line, which does not include a corporation's
A) impact on people.
B) profits.
C) impact on the planet.
D) congressional lobbying activities.
Answer: D
Q2) Some provisions of U.S. bribery laws are directed toward accountants.
A)True
B)False
Answer: True
Q3) Under the principle of rights theory, one person's principles are as "right" as another's.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Small Businesses and Franchises
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Q1) Made in the USA Clothing Inc. gives notice to Neely that it is terminating their franchise arrangement. Winding up the business requires
A) a new franchise agreement.
B) nothing more than closing immediately.
C) Neely's death, disability, or insolvency.
D) the return of the franchisor's property.
Answer: D
Q2) Soup Factory, Inc., uses a Web site to provide downloadable information to prospective franchisees. This electronic information is the equivalent of an offer that must comply with A) no law.
B) federal antitrust laws.
C) the Federal Trade Commission's Franchise Rule.
D) the Petroleum Marketing Practices Act.
Answer: C
Q3) A franchisor's decision to terminate a franchise is always considered wrongful. A)True
B)False
Answer: False
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Page 4
Chapter 3: All Forms of Partnerships
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Q1) A partner's profit from a partnership is taxed as income to the firm.
A)True
B)False
Answer: False
Q2) Kay and Linda decide to do business as Marketing & Promotion. To be a partnership, this association can result from an agreement that is
A) express, but not implied.
B) implied, but not express.
C) oral, written, or implied by conduct.
D) written, but not oral or implied.
Answer: C
Q3) Olivia is a partner in Pacific Traders. In the majority of states, with respect to any partnership obligations that Olivia does not participate in, know about, or ratify, she would be liable for
A) none of the obligations.
B) all of the obligations, jointly and severally.
C) all of the obligations, jointly but not severally.
D) only the contractual obligations.
Answer: B
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Page 5
Chapter 4: Limited Liability Companies and Special Business Forms
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Q1) For federal income tax purposes, one-member limited liability companies are not taxed.
A)True
B)False
Q2) Typically, the articles of organization of a limited liability company (LLC) include information on how the LLC will be managed.
A)True
B)False
Q3) Foreign investors cannot participate in a limited liability company.
A)True
B)False
Q4) In most states, a limited liability company must have at least two members.
A)True
B)False
Q5) Unless otherwise agreed, joint venturers have an equal voice in controlling a venture-related project.
A)True
B)False
Page 6
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Chapter 5: Corporate Formation and Financing
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Q1) Boutique Bodega Corporation would like to change its corporate status to that of an S corporation. To qualify, the shareholders must not be A) corporations.
B) estates.
C) individuals.
D) partnerships.
Q2) The true ownership of a corporation is represented by common stock.
A)True
B)False
Q3) The state can dissolve a corporation for failing to pay taxes.
A)True
B)False
Q4) The articles of incorporation serve as a primary source of authority for a corporation's business operations.
A)True
B)False
Q5) A de jure corporation is one that is formed for a single purpose. A)True
B)False
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Chapter 6: Corporate Directors, Officers, and Shareholders
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Q1) Riley is elected as a director to the board of Salty Snacks, Inc. He will most likely serve for a term of one
A) decade.
B) four-year period.
C) lifetime.
D) year.
Q2) Security Insurance, Inc. has a board of five directors. Security's bylaws do not state any quorum requirements. In most states, a quorum for Security's board meetings would be
A) one director.
B) three directors.
C) four directors.
D) all of the directors.
Q3) In some situations, a majority shareholder owes a fiduciary duty to minority shareholders.
A)True B)False
Q4) A vacancy on the board of directors can be filled by the board itself.
A)True
B)False
Page 8
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Chapter 7: Securities Law and Corporate Governance
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Q1) Beachware, Inc., wants to issue stock of $4 million in a single offering. The corporation must provide disclosure documents that generally are the same as those used in registered offerings to
A) all investors and the Securities and Exchange Commission.
B) the Securities and Exchange Commission.
C) any accredited investors.
D) any unaccredited investors.
Q2) Paddle & Portage Tours Corporation is poised to issue securities that, under the Securities Act of 1933, are "exempt." This means that the securities can be sold
A) on the basis of a material omission or misrepresentation.
B) on the basis of nonpublic information.
C) within any six-month period by certain insiders.
D) without being registered.
Q3) Under the Sarbanes-Oxley Act of 2002, all members of a publicly traded corporation's audit committee must be outside directors.
A)True
B)False
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Chapter 8: Tort Law
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Q1) Louann pushes Molly, who falls and breaks her wrist. Louann is liable for the injury
A) if Louann intended to push Moly.
B) only if Louann did not intend to break Moly's wrist.
C) only if Louann had a bad motive for pushing Moly.
D) only if Louann intended to break Moly's wrist.
Q2) Felix tells Genie, a prospective tenant, that the roof of the Hillside Apartments building does not leak when Felix knows that it does. This may give rise to an action for fraud, because the statement is one of A) puffery.
B) fact.
C) illusion.
D) opinion.
Q3) Data Analytics, Inc., and eProducts Corporation market competing software products. Data Analytics launches an advertising campaign claiming that eProducts, instead of testing software before it is marketed, has customers "test" the software by using it. eProducts knows this is not true but begins to lose sales to Data Analytics. On what ground could eProducts sue Data Analytics for injury to eProducts' reputation?
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Page 10
Chapter 9: Agency Formation and Duties
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Q1) 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 the principal's behalf.
A)True
B)False
Q2) Agency relationships normally are consensual.
A)True
B)False
Q3) If a great degree of skill is required, this may indicate that a person is an employee hired for a specialized job and not an independent contractor.
A)True
B)False
Q4) An agency relationship created for an illegal purpose is enforceable.
A)True
B)False
Q5) An agency relationship is enforceable even if it is created for a purpose that is contrary to public policy.
A)True
B)False
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Chapter 10: Agency Liability and Termination
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Q1) Chuck hires Danielle, a real estate broker, to act as his agent to sell his land for $150,000. Oil is discovered beneath the land, causing its market value to increase considerably. The agency agreement is likely
A) continued with a proportionate increase in Danielle's sales commission.
B) continued until Danielle tells prospective buyers of the discovery.
C) terminated by act of the parties.
D) terminated by operation of law.
Q2) A power of attorney does not permit an agent to transact business for a principal.
A)True
B)False
Q3) Under the doctrine of respondeat superior, an agent is liable for any harm caused to a principal by a third party.
A)True
B)False
Q4) A principal is not normally liable for the crime of an agent committed within the scope of the agency or employment.
A)True
B)False
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Chapter 11: Employment, Immigration, and Labor Law
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Q1) Analytic Projections, Inc., a data analysis firm, wants to hire Benazir, a noncitizen. A work visa is most likely to be set aside for a noncitizen if
A) the noncitizen is of "ethnic similarity to the employer's workforce."
B) there is no shortage of qualified U.S. workers capable of doing the work.
C) hiring the worker will not adversely affect the labor force.
D) the noncitizen is a "person with an extraordinary work ethic."
Q2) Jorge, Kim, and Lucy apply to work for Meat Packing, Inc. Meat Packing must verify the identity and eligibility to work of
A) each new hire.
B) only those hired as contractors.
C) only those hired as day workers.
D) only members of ethnic minorities.
Q3) FasTite Tool Company employs workers, including Gina, at six locations in two states. FasTite's discharge of Gina outside the terms of an implied employment contract may result in
A) FasTite's liability for breach of contract.
B) Gina's ineligibility for unemployment compensation.
C) the two states' joint assumption of control over FasTite's operations.
D) none of the choices.
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Page 13
Chapter 12: Employment Discrimination
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Q1) Once a plaintiff succeeds in proving discrimination, the burden shifts to the employer to justify the discriminatory practice.
A)True
B)False
Q2) The distribution of promotions and other job benefits according to a seniority system is not normally a good defense to a suit for employment discrimination.
A)True
B)False
Q3) Mechanical Engineering, Inc., may be liable for the sexual harassment of an employee if it knew or should have known about the harassment, failed to take immediate action, and the harassment was committed by A) the employee's previous employer.
B) a company supervisor.
C) a competitor.
D) any of the choices.
Q4) Title VII of the Civil Rights Act prohibits unintentional discrimination. A)True B)False
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Chapter 13: The Formation of Sales and Lease Contracts
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Q1) Intangible property has conceptual existence and thus comes under Article 2.
A)True
B)False
Q2) Fresh Dairy, Inc., is the offeror and Gelato Ice Cream Company is the offeree under a unilateral sales contract in which Hector's Helado Corporation is also interested. Gelato is not notified of Fresh Dairy's performance within a reasonable time. Gelato
A) may treat the offer as having lapsed.
B) must assume that Fresh Dairy has started to perform.
C) must contact Fresh Dairy.
D) must notify Hector's.
Q3) Medico Inc. enters into a contract to sell medical supplies to New Hospital Corporation, which sells some of the items to Physicians Clinic, which later sells them to Oscar, a patient and consumer. Article 2 of the UCC applies to the sales transactions between
A) all buyers and sellers.
B) Medico and New Hospital only.
C) New Hospital and Physicians Clinic only.
D) Physicians Clinic and Oscar only.
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Chapter 14: Performance and Breach of Sales and Lease Contracts
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Q1) Fruit of the Plant, Inc., agrees to sell a certain quantity of a high-quality grain seed to Grange Co-op. Fruit of the Plant can obtain only half of the quantity ordered, so the seller also ships a lesser quality seed in twice the amount of the remainder of the order for the same price. Grange Co-op rejects the lesser quality seed. With time for performance not yet expired, Fruit of the Plant can
A) attempt to cure the defect.
B) cancel the contract.
C) recover the amount of its expected profit plus incidental damages.
D) resell or dispose of the seed and hold Grange Co-op liable for any loss.
Q2) The principle of good faith applies to both parties to a sales contract.
A)True
B)False
Q3) On July 10, Pet Supply Store orders fifty small dog collars from Quality Collars, Inc. to be delivered by July 15. On July 13, Quality Collars tenders fifty large dog collars. Pet Supply rejects the shipment. Quality Collars has A) no right to cure.
B) until July 15 to cure.
C) until the end of the business day on July 13 to cure.
D) unlimited time to cure.
Page 16
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Chapter 15: Negotiable Instruments
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Q1) To be negotiable, an instrument must be payable in a certain amount.
A)True
B)False
Q2) An undated instrument cannot be negotiable.
A)True
B)False
Q3) For an instrument to be negotiable, it must not contain an express promise or order to pay.
A)True
B)False
Q4) An instrument whose terms indicate payment to no particular person is payable to no one.
A)True
B)False
Q5) To be negotiable, an instrument must have portability.
A)True
B)False
Q6) To be negotiable, an instrument must not be payable in money.
A)True
B)False
Page 17
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Chapter 16: Transferability and Holder in Due Course
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Q1) A holder does not take an instrument for value if he or she gives a negotiable instrument as payment.
A)True
B)False
Q2) Doyle gives a check to eMarket Finance to buy 100 shares of stock in FabNu Corporation for Doyle. The price of the shares is constantly fluctuating. eMarket asks Doyle to leave the amount of the check blank and allow it to fill in the price when making the purchase. Doyle agrees. eMarket 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 Guido & Hollis Accountants (G&H), which takes the check in good faith and without notice of eMarket's act. G&H later learns that eMarket was not authorized to fill in the check for $1,000 over the price. Is G&H an HDC? If so, for how much?
Q3) An indorser who does not wish to be liable on an instrument can use a qualified indorsement.
A)True
B)False
Q4) An indorsement is a signature, with or without additional words or statements.
A)True
B)False
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Chapter 17: Liability, Defenses, and Discharge
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Q1) Gulf Bank receives a check drawn by Hayley. The check is received after the established "cutoff" hour. Payment can be postponed without dishonor
A) indefinitely.
B) under no circumstances.
C) for thirty days.
D) until the following business day.
Q2) Owen is a holder of a note obtained from Purchase Money, Inc. Regarding the defenses against payment of the note to which Purchase Money is subject, Owen, as an ordinary holder, is subject to
A) more defenses.
B) no defenses.
C) some defenses, but not as many.
D) the same defenses.
Q3) One of the transfer warranties is that the instrument has not been altered.
A)True
B)False
Q4) Failure to present an instrument on time is improper presentment.
A)True
B)False
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Chapter 18: Banking in the Digital Age
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Q1) Ridgeline Bank creates a paper reproduction of customer Sophie's check with the statement "This is a legal copy of your check. You can use it in the same way you would use the original check." This is
A) a certified check.
B) a cashier's check.
C) a substitute check.
D) a void check.
Q2) A certified check is a check that has been accepted by the bank on which it is drawn.
A)True
B)False
Q3) A written stop payment order is only valid for thirty days.
A)True
B)False
Q4) Each bank in a collection chain must pass a check on before midnight of the day of its receipt.
A)True
B)False
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Chapter 19: Creditors Rights and Remedies
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Q1) Federal law alone governs garnishment actions.
A)True
B)False
Q2) Dan defaults on a debt to Rachel. Rachel will not be able to recover the debt from
A) the sale of Dan's prize-winning pet dog.
B) the sale of Dan's investments in stocks.
C) Dan's wages.
D) Dan's lottery winnings.
Q3) Refer to Fact Pattern 19-2.Robin will receive
A) $0.
B) $30,000.
C) $50,000.
D) $60,000.
Q4) A guarantor is secondarily liable on an obligation.
A)True
B)False
Q5) A debtor's vehicle is never exempt from satisfaction of a judgment debt.
A)True
B)False
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Chapter 20: Secured Transactions
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Q1) Metro Motors files a financing statement giving notice to the public that it has a secured interest in collateral belonging to Nate's Limousine Service, which is the debtor named in the statement. A uniform financing statement used in all states is
A) the UCC Financing Statement.
B) the UCC Collateral Form.
C) Form UCC-2.
D) none of the choices.
Q2) Refer to Fact Pattern 20-1.Suppose that Business Finance perfects its security interest when GLC takes possession of the equipment. In that circumstance, the party with priority to the collateral on GLC's default would be A) GLC.
B) Business Finance and Commercial Bank proportionately.
C) Business Finance only.
D) Commercial Bank only.
Q3) A debtor is the person in whose favor there is a security interest.
A)True
B)False
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22
Chapter 21: Bankruptcy Law
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Q1) The same principles that govern the filing of a liquidation petition apply to reorganization proceedings.
A)True
B)False
Q2) Leo files a petition in bankruptcy. Among his debts are unpaid taxes, fines owed to the government, student loans owed to Metro University, and support owed to his ex-wife Nadia. Most likely to be discharged are
A) back taxes accrued within the previous three years.
B) fines outstanding less than eight years.
C) student loans whose payment would impose undue hardship.
D) spousal-support debts unpaid for more than eighteen months.
Q3) A repayment plan case can be initiated by the conversion of a liquidation petition.
A)True
B)False
Q4) An order for relief in a bankruptcy proceeding amounts to a discharge of the debts of the party petitioning for bankruptcy protection.
A)True
B)False
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Chapter 22: Professional Liability and Accountability
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Q1) Refer to Fact Pattern 22-1.OPI may be entitled to A) payment from Nelson of the amount of the penalties in damages. B) specific performance of any future contract with Nelson.
C) an injunction against future breaches of contract by Nelson.
D) no damages or other relief because Nelson is not liable.
Q2) An accountant who performs an audit may be liable for failing to detect misconduct if a normal audit would have revealed it.
A)True
B)False
Q3) Farley, an accountant, intentionally misstates a material fact to mislead Global Industries, Inc., a client. Global justifiably relies on the misstatement to its detriment. Farley is most likely liable for A) fraud. B) malpractice.
C) negligence.
D) none of the choices.
Q4) The competency of professionals' service is never an issue.
A)True
B)False
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Chapter 23: Administrative Agencies
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Q1) Friend2Friend, Inc., a social network provider, is cited by an Internal Revenue Service (IRS) representative for an underpayment of federal income tax. Friend2Friend's accountants believed that the agency overlooked some of the firm's legitimate tax deductions and credits. Erin, Friend2Friend's chief executive officer, wants to challenge the assessment. What are Erin and Friend2Friend's next steps?
Q2) In most instances, an agency is required to obtain a search warrant before a physical search for evidence is conducted.
A)True
B)False
Q3) The Federal Emergency Management Agency (FEMA) discovers that Goodnuff Trailers, Inc., is violating a FEMA regulation. If this situation is resolved like most such disputes, the outcome will be
A) a negotiated settlement.
B) a trial and a fine.
C) a trial and an appeal to a higher authority.
D) a trial and the dissolution of the business.
Q4) Federal regulations take precedence over conflicting state regulations.
A)True B)False
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Chapter 24: Consumer Law
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Q1) Ads can be unfair but not deceptive.
A)True
B)False
Q2) Breadboard, Inc., makes and sells a variety of grain products. Breadboard's product packages must include
A) the company owner's identity.
B) the contents' net quantity.
C) the restaurants and stores in which the product is sold.
D) the type of consumer most likely interested in the product.
Q3) Consumer Finance Corporation (CFC) extends credit to consumers. CFC is subject to the Equal Credit Opportunity Act, which prohibits credit discrimination based on A) intelligence.
B) education.
C) income.
D) race.
Q4) Rely Battery Corporation makes batteries for motor vehicles. The Federal Trade Commission (FTC) learns that Chuck's Automotive Stores, a retail company that sells Rely's batteries, engages in deceptive advertising practices. What actions can the FTC take against Chuck's?
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Chapter 25: Environmental Protection
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Q1) The primary responsibility for preventing and controlling air pollution rests with the federal government.
A)True
B)False
Q2) New Town Construction, Inc., wants to build a parking ramp to connect to its New Town Mall, both of which are on private land. For this action, an environmental impact statement is
A) prohibited.
B) required.
C) unnecessary.
D) voluntary.
Q3) The Environmental Protection Agency can prohibit altogether a toxic substance that poses an imminent hazard.
A)True
B)False
Q4) Performance standards for major sources of air pollution require the use of the any available technology, or AAT.
A)True
B)False
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Chapter 26: Antitrust Law
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Q1) Monopoly power is an extreme amount of market power.
A)True
B)False
Q2) Resale price maintenance agreements are per se violations of the Sherman Act.
A)True
B)False
Q3) Section 1 of the Sherman Act condemns monopolization.
A)True
B)False
Q4) Fresh Vegetables, Inc., a wholesaler, refuses to sell its produce to Good Foods Marketplace, Inc., a retailer. This is
A) "an unfair or deceptive act or practice."
B) a per se violation.
C) not a violation.
D) subject to analysis under the rule of reason.
Q5) The U.S. Department of Justice can prosecute violations of all of the antitrust laws.
A)True
B)False
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Chapter 27: Personal Property and Bailments
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Q1) Enrico leaves his Ford sport utility vehicle at Gordo's Auto Service for an oil change. This is
A) a bailment.
B) a gift.
C) confusion.
D) abandoned property.
Q2) All transactions involving the delivery of property from one person to another create a bailment.
A)True
B)False
Q3) Refer to Fact Pattern 27-1.Truck & Transfer can avoid liability
A) by proof that Truck & Transfer was not negligent.
B) by proof that Truck & Transfer's loading dock is in a high-crime area.
C) by proof that United Home was negligent in hiring TTC.
D) under any circumstances.
Q4) Property that is leased from a bailor must be fit for the intended purpose of the bailment.
A)True
B)False
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Chapter 28: Real Property and Landlord-Tenant Law
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Q1) Molly owns two houses. She allows her friend Nikki to live in one of them without paying rent. Nikki dies. Nikki's tenancy
A) passes to her heirs indefinitely.
B) passes to her heirs for one year.
C) passes to her heirs for five years.
D) is terminated.
Q2) For a party to take by adverse possession, the party's possession must be peaceable, and not hostile.
A)True
B)False
Q3) Rollo deeds a plot of timberland to Scholars University as a gift. The university pays nothing for the property. Rollo has given the university
A) a fee simple absolute.
B) a license.
C) an easement.
D) the power of eminent domain.
Q4) Surface and subsurface rights cannot be separated.
A)True
B)False
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Chapter 29: Intellectual Property
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Q1) A famous trademark may be diluted only by the unauthorized use of an identical mark.
A)True
B)False
Q2) It is not possible to copyright an idea.
A)True
B)False
Q3) A trade name cannot be protected if it is unusual.
A)True
B)False
Q4) Reprise, Inc., a U.S. video production company, files a suit against Substantivo TV, Ltd., a Mexican production firm, for infringement of intellectual property rights under Mexico's national laws. Under the TRIPS agreement, Reprise is entitled to receive
A) better treatment than Substantivo.
B) the same treatment as Substantivo.
C) worse treatment than Substantivo.
D) nothing.
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Chapter 30: Insurance
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Q1) An insurance agent ordinarily works for the insurance company.
A)True
B)False
Q2) A person who obtains insurance from an insurance company's agent is usually protected the moment the premium is paid.
A)True
B)False
Q3) Ruth obtains a fire insurance policy on her house from Safety Insurance Company. Later, after she moves out and the house is empty, a fire destroys the structure. Most fire insurance policies require that at the time of a loss, the insured premises be A) vacant and uninhabitable.
B) occupied.
C) unoccupied but habitable. D) empty.
Q4) Risk management is the transfer of certain risks from an individual to an insurance company.
A)True
B)False
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Chapter 31: Wills and Trusts
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Q1) Kim is asked to serve as a witness to Lian's will. To qualify, Kim must be
A) a collateral heir.
B) a lineal descendant.
C) at least eighteen years old.
D) mentally competent.
Q2) Winifred, an elderly woman, is diagnosed with lung cancer. She realizes her condition may worsen, and that there is a chance that at some point she will become so weak the only way she will be able to breathe is with the help of medical machinery. She does not want to be kept alive in such a "vegetative state." What are Winifred's options?
Q3) A testator may revoke a will by intentionally tearing it.
A)True
B)False
Q4) When a person dies without a valid will, and no heirs exist, the state will assume ownership of the property.
A)True
B)False
Q5) A gift of real estate by will is a bequest.
A)True
B)False
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16
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Q1) Beth starts Checklist to market a new app. Valley Credit Union loans $30,000 to Beth for the project. Later, the debt is most likely to be discharged in bankruptcy
A) if Beth provides a complete, accurate record of business transactions.
B) if the loan is not subject to an agreement that imposes personal liability.
C) if Beth's business is a sole proprietorship.
D) under no circumstances.
Q2) Price-Lo Inc., a discount retailer, was established, and is based, in the United States.
Charged by the United States with violating the Foreign Corrupt Practices Act by bribing foreign government officials for favorable contracts, Price-Lo
A) may be subject to charges in other countries but not for the same acts.
B) may be subject to similar charges for the same acts in other countries.
C) will not be subject to similar charges in other countries because only the United States fines corporations for such acts.
D) will not be subject to similar charges in other countries because the firm is a U.S. company alleged to have violated U.S. law.
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Chapter 33: Digital Update: Revenge Porn and Invasion of Privacy
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Q1) Price & Profit Inc. and other employers routinely check job applicants' social media posts when deciding whom to hire. These sites can provide information on an applicant's race, religion, and other protected characteristics. Price can legally base its hiring decisions on the basis of A) none of the choices.
B) race.
C) any protected characteristic.
D) religion.
Q2) Kay, a driver for Lyft, files a suit against the firm to change her job classification and obtain better benefits. Lyft considers Kay and its other drivers to be A) employees.
B) dependent contractors.
C) independent contractors.
D) none of the choices.
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Chapter 34: Digital Update: Taxing Web Purchases
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Q1) Robert borrows $15,000 from State College to help pay for his education. He signs a note payable to the school for the amount of the loan plus interest. Robert defaults, and the school transfers the note to a collection agency. This means that A) additional costs to collect payment can be added to the unpaid principal. B) additional requirements can be imposed on the borrower to graduate.
C) none of the choices.
D) Robert may have to accept a job offer from a select list of employers.
Q2) Apple Pay and other phone-based payment systems enable mobile devices to A) link from a digital wallet to another app within a single phone.
B) entail more security risks than carrying a physical wallet.
C) communicate wirelessly with point-of-sale systems.
D) work with existing magnetic-strip credit-card machines.
Q3) Mobile payment and digital wallet services include Apple Pay, Google Wallet, and Samsung Pay. The ultimate goal of these payment systems is to A) link from a digital wallet to another app within a single phone.
B) entail more security risks than carrying a physical wallet.
C) communicate wirelessly with point-of-sale systems.
D) work with existing magnetic-strip credit-card machines.
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Chapter 35: Ethics Today:what Are an Attorneys
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Q1) The Federal Communications Commission issued proposed rules regulating Internet service providers (ISPs) as "common carriers" under the Communications Act of 1934. Under these rules, ISPs cannot
A) prevent users from accessing "legal content" on the Internet.
B) reduce the speed of data from any particular site or application.
C) charge content providers more for faster service.
D) all of the choices.
Q2) To reduce the emission of greenhouse gases, power companies are required to save specified amounts of energy by
A) all of the states.
B) less than half of the states.
C) more than half of the states.
D) none of the states.
Q3) Don, like many attorneys, is storing his firm's confidential client information on the cloud. Like other professionals, Don should assume that
A) he does not need to be concerned with keeping the information secure.
B) the cloud provider will take precautions to keep the information secure.
C) he is ultimately responsible for the information.
D) privacy notification requirements are being complied with.
Page 37
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Chapter 36: Digital Update:the Exploding World of Digital Property
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Q1) Bay City condemns private, residential property and conveys it to Commercial Construction Corporation to develop a shopping, dining, and entertainment complex on the city's waterfront. According to the United States Supreme Court,
A) a state can prohibit taking for economic development.
B) eminent domain may be used to further development.
C) a state can permit taking for redevelopment of slum areas.
D) all of the choices.
Q2) Liz starts Modern Roofing, which becomes successful through her efforts. Meanwhile, she marries Nick. To ensure that her business will not break up if her marriage falls apart, Liz should
A) avoid involving Nick in the business.
B) employ Nick in the business in a minor capacity.
C) appoint Nick to be the business's chief executive officer.
D) hire Nick to work for the business on a per-project basis
Q3) According to the United States Supreme Court,
A) Metro City can take a parking lot for a privately owned sports stadium.
B) all of the choices.
C) Laborville can condemn a vacant field for a private manufacturing plant.
D) Sleepyton can take residential property for a private corporate complex.
Page 38
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