ETH 321 Week 5 Final Exam 98.33% Correct
- University of Phoenix / ETH 321
- 28 Apr 2018
- Price: $25
- Other / Other
A __________ is the simplest and least expensive business
institution to create.
•
partnership
•
sole proprietorship
•
limited liability company
•
corporation
2
The __________ is the constitutional provision that details
the federal government’s power to regulate business activities.
•
equal protection clause
•
Commerce Clause
•
supremacy clause
•
liquidated damages clause
3
Concerted efforts to lobby government officials,
irrespective of their anticompetitive purposes, are given an exception from the
Sherman Act under the __________.
•
incorporation doctrine
•
Colgate doctrine
•
overbreadth doctrine
•
Noerr-Pennington doctrine
4
In a state court system, lawsuits filed by parties typically
begin at the __________.
•
trial court level
•
federal district court level
•
appellate court level
•
supreme court level
5. The Equal Employment Opportunity Commission was created
through the __________.
•
Civil Rights Act
•
National Labor Relations Act
•
Americans with Disabilities Act
•
Age Discrimination in Employment Act
6
Courts determine whether the language of an offer was clear
enough to result in a contract by:
•
investigating whether an offeree actually accepted the
offer.
•
examining the objective intent of the offeror.
•
analyzing whether the terms of the acceptance matches the
terms of the offer.
•
examining the adequacy of the consideration offered.
7
The petition for a writ of certiorari by the losing party of
a litigation will be reviewed by the U.S. Supreme Court:
•
if there is a major conflict between the trial and appellate
courts on the interpretation of federal law.
•
if the federal district courts and the courts of appeal
correct the judicial errors charged against the state court.
•
if the winning party agrees to subsequent reviews.
•
if at least one of the nine justices vote to take the case.
8
Who among the following individuals commits a battery?
•
Vincent, the CEO of Gregon Inc., who pays media firms to
circulate false information about Gregon’s chief competitor
•
Joan, the customer care manager in a retail store, who
verbally threatens a customer who calls to complain about a faulty product
•
Amanda, who fires her employee Trevor without any notice and
causes him severe mental distress
•
Yuki, who injures her boss Reese with a knife and inflicts
serious injuries on him
9
Windy and Ruby plan to present a paper on intellectual
property rights. They decide that Windy will present the arguments in favor of
intellectual property rights and that Ruby will argue how intellectual property
rights could be detrimental to businesses and their customers. Which of the
following is most likely to be Ruby’s argument?
•
Intellectual property rights reduce the pace of research and
development drastically.
•
Intellectual property rights result in a decrease in the
availability of products.
•
Intellectual property rights do not allow businesses to
charge premium prices for their products.
•
Intellectual property rights reduce businesses’ prospects of
economic return on investment.
10
The term __________ refers to any change in the ownership of
a business organization that would alter its legal existence.
•
consideration
•
rescission
•
dissolution
•
conversion
11
Which of the following statements is true of white-collar
crimes?
•
They rarely occur in business environments.
•
They rarely affect consumers of a business.
•
They are dependent on the threat of physical force.
•
They are usually committed for personal financial gain.
12
Which of the following statements is true of a grand jury?
•
At least 20 members should be present on a grand jury to
examine evidences and vote on a case.
•
A grand jury determines whether the accused in a lawsuit is
innocent or guilty.
•
For an indictment to be returned, only one-third of a grand
jury needs to agree that a crime has been committed.
•
A grand jury has the authority to subpoena business records
relevant to a lawsuit.
13
According to the __________, the acceptance of an offer
results in a binding contract only if it exactly matches the terms of the
offer.
•
parol evidence rule
•
mirror image rule
•
mailbox rule
•
exclusive remedy rule
14
Which of the following statements is true of the Securities
and Exchange Commission?
•
It lacks the authority to frame rules regarding transactions
of securities.
•
Its members are either lawyers or security analysts.
•
Its members are appointed by the senate for a term of four
years.
•
It is responsible for implementing the federal securities
laws.
15
The __________ enacted in 1938 established minimum wage,
overtime pay, and record-keeping requirements.
•
Worker Adjustment and Retraining Notification Act
•
Family and Medical Leave Act
•
Uniformed Services Employment and Reemployment Rights Act
•
Fair Labor Standards Act
16
Fuzo Inc., a manufacturer of leather bags, enters into a
contract with a firm regarding the installation of a machine in Fuzo’s factory.
Fuzo agrees to pay $1000 for the machine and another $200 as the installation
charge. In this scenario, the terms of the sale will be covered under
__________.
•
the Federal Arbitration Act
•
the Uniform Commercial Code
•
the Foreign Corrupt Practices Act
•
the Internal Revenue Code
17
Which of the following statements is true of alternative
dispute resolution (ADR) systems?
•
The litigation process precludes the use of ADR systems.
•
ADR systems increase the costs incurred during the
litigation process.
•
The parties to a dispute need not present the case to a jury
before opting for ADR systems to settle the dispute.
•
ADR systems cannot be used for dispute resolution in
contractual relationships unless they are specified in the contract.
18
According to the Commerce Clause, the power to regulate
interstate commerce is vested with __________.
•
state governments
•
the federal government
•
state-level courts
•
the U.S. Supreme Court
19
Which of the following scenarios illustrates a bilateral
contract?
•
Sameera, a writer, signs a contract with her publisher to
publish her book.
•
Helen, a painter, signs a contract with an art gallery that
agrees to purchase her painting for $2000.
•
Grapevine Inc. follows a five-day workweek system and also
offers a compressed workweek option.
•
The management of Uno Inc. offers additional benefits to its
employees annually.
20
A system of equally applied law is a necessity for the
foundation of a strong, productive economy because it:
•
encourages strangers to make agreements on certainty and
trust.
•
prohibits individuals from trading in modern private
markets.
•
incentivizes private businesses to restrict job
opportunities for well-educated people.
•
allows economically strong nations to exploit the resources
of weaker nations.
21
How does law hold diverse people of different backgrounds
into large, organized groups?
•
It discourages people from making agreements based on
certainty and trust.
•
It tells the members of a society what they can and cannot
do.
•
It allows strangers to adopt rules that support their
beliefs.
•
It prevents enforcement institutions from enforcing written
rules on strangers.
22
__________ refers to an agreement made between competitors
in an industry to fix prices of their products.
•
Resale price fixing
•
Indirect price fixing
•
Vertical price fixing
•
Horizontal price fixing
The term __________ refers to the act of referring a matter
to arbitration.
•
submission
•
litigation
•
conflict
•
settlement
24
Which of the following legal remedies to a breach of
contract allows the parties to the contract to agree to abide by the decision
of a third party or parties?
•
Rescission
•
Specific performance
•
Negotiated settlement
•
Arbitration
25
A(n) __________ refers to the individual or business entity
offering a security for sale to the public.
•
seller
•
controlling person
•
underwriter
•
issuer
Which of the following scenarios illustrates a formalist
approach to business decisions?
•
Selling products by deceiving customers about possible
negative aspects of the products
•
Informing new customers about delays in production schedules
•
Monitoring employee browsing history without their consent
to curb non-productive activities
•
Assigning significantly high productivity targets to reduce
costs
27
Alan and Miriam are engaged in a debate on the importance of
intellectual property rights. While Alan holds the view that intellectual
property protection safeguards the interests of businesses, Miriam thinks that
it ultimately puts businesses at a disadvantage by hampering the dissemination
of information. Which of the following arguments is most likely to be raised by
Alan to strengthen his proposition?
•
Intellectual property rights reduce businesses’ market share
by facilitating competition.
•
Intellectual property rights reduce the pace of research and
development drastically.
•
Intellectual property rights allow businesses to charge
premium prices for their products.
•
Intellectual property rights result in an increased
availability of products.
28
A business decision maker’s decision is more likely to raise
ethical concerns in a society where:
•
there is a decrease in economic interdependence.
•
there is an increase in demand for public education.
•
the news media and the Internet have significant influence.
•
the family structure is stable.
29
__________ is a legal remedy to a breach of contract by
which each party to the contract returns the consideration offered by the
other.
•
Rescission
•
Arbitration
•
Negotiated settlement
•
Specific performance
30
The term __________ refers to the placing of an individual
in immediate apprehension for his or her physical safety.
•
conversion
•
battery
•
assault
•
defamation
USA 
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