Test Bank For The Legal Environment Of Business, 12th Edition

Test Bank For The Legal Environment Of Business, 12th Edition provides a complete breakdown of important topics, helping you study efficiently and effectively.

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Multiple Choice
1. Which area of law is most likely to impact directly the finance and accounting departments of a company?

a. products liability

b. employment discrimination
c. credit regulation

d. environmental law

e. all of these are likely to impact about the same

ANSWER: c

POINTS: 1

DIFFICULTY: Easy

NATIONAL STANDARDS: United States - BUSPROG: Communication

STATE STANDARDS: United States - Universal - DISC: AICPA: BB-Legal
TOPICS: A-Head: Law and the Key Functions of the Legal System
KEYWORDS: Bloom's: Knowledge

2. Which of these issues may impact a company's operations?

a. international issues
b. political issues

c. ethical issues
d. legal issues

e. all of these issues can impact operations

ANSWER: e

POINTS: 1

DIFFICULTY: Easy

NATIONAL STANDARDS: United States - BUSPROG: Communication

STATE STANDARDS: United States - Universal - DISC: AICPA: BB-Legal
TOPICS: A-Head: Law and the Key Functions of the Legal System
KEYWORDS: Bloom's: Knowledge

3. Which is generally recognized as the best (most correct) definition of law?

a. a body of rules of action or conduct prescribed by controlling authority, and having binding legal force

b. that which must be obeyed and followed by members of a society subject to sanctions or legal consequences
c. the circumstances in which the public force is brought to bear through the courts

d. a rule of conduct that justifies a prediction that it likely will be enforced by the courts if its authority is
challenged

e. all of the other choices are correct; there is no one agreed upon best definition

ANSWER: e

POINTS: 1

DIFFICULTY: Moderate

NATIONAL STANDARDS: United States - BUSPROG: Analytic

STATE STANDARDS: United States - Universal - DISC: AICPA: BB-Legal
TOPICS: A-Head: Law and the Key Functions of the Legal System
KEYWORDS: Bloom's: Analysis
POINTS:
DIFFICULTY:
NATIONAL STANDARDS:
STATE STANDARDS:
TOPICS:
KEYWORDS:
1
Easy
United States - BUSPROG: Communication
United States - Universal - DISC: AICPA: BB-Legal
A-Head: Law and the Key Functions of the Legal System
Bloom's: Knowledge

4. Which of the following is an accepted definition of law?

a. a body of rules of action or conduct prescribed by controlling authority, and having binding legal force
b. a body of rules of action or conduct prescribed by society, but lacking legal force

c. a body of rules of action or conduct prescribed by courts and sanction by international society

d. a body of rules of action or conduct prescribed by the Supreme Court, and having binding legal force
e. none of the other choices

ANSWER: a

POINTS: 1

DIFFICULTY: Moderate

NATIONAL STANDARDS: United States - BUSPROG: Analytic

STATE STANDARDS: United States - Universal - DISC: AICPA: BB-Legal
TOPICS: A-Head: Law and the Key Functions of the Legal System
KEYWORDS: Bloom's: Analysis

5. Which of the following is an accepted definition of law?

a. a body of rules of action or conduct prescribed by society, but lacking legal force

b. that which must be obeyed and followed by members of a society subject to sanctions or legal consequences
c. that which must be obeyed and followed by the controlling authority of a country

d. a body of rules of action or conduct prescribed by the Supreme Court, and having binding legal force
e. none of the other choices

ANSWER: b

POINTS: 1

DIFFICULTY: Easy

NATIONAL STANDARDS: United States - BUSPROG: Communication

STATE STANDARDS: United States - Universal - DISC: AICPA: BB-Legal
TOPICS: A-Head: Law and the Key Functions of the Legal System
KEYWORDS: Bloom's: Knowledge

6. In an orderly society, law and the legal system help to:

a. influence the behavior of members of society
b. resolve disputes

c. maintain the important values of society

d. provide a way for important social changes to take effect
e. all of the answers are part of the role of law

ANSWER: e

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Subject
Business Law

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