ACCT 511 Week 5 Quiz

ACCT 511 Week 5 Quiz  | Liberty University | Assignment Help

ACCT 511 Week 3 Quiz

___ is actual authority that the principal has manifested to the agent using very specific or detailed language.

Multiple Choice

•             Express authority

•             Apparent authority

•             Implied authority

•             Primary authority

.

2.

Which of the following tries to check abuses and to protect employees’ expectations that promised pension benefits will be paid?

Multiple Choice

•             FMLA

•             OSHA

•             FLSA

•             ERISA

3.

The Equal Pay Act prohibits sex discrimination regarding pay.

True or False

True

False

4.

When is constructive notification sufficient for an agent's apparent authority to end?

Multiple Choice

 For third parties who have previously dealt with the agent.

 For third parties who have begun to deal with the agent.

 Never.

 For third parties who are aware of the agency but did no business with the agent.

5.

Kim hires Kyle to sell bike locks for her. She orders Kyle to tell potential customers that the bike locks are the world's strongest, even though this is not true. Does Kyle have a duty to obey Kim's instructions?

Multiple Choice

 Yes, as long as he continues to act as her agent.

•             Yes, but he must make a disclaimer to potential customers that he is speaking for Kim.

•             No, because he is not a gratuitous agent and only gratuitous agents are obligated to follow a principal's instructions.

•             No, because a sales agent need not follow directions to misrepresent the quality of a principal's goods.

6.

A principal will not be liable to a third party for a tort committed by an agent:

Multiple Choice

•             unless the tort was committed within the scope of the agency relationship.

unless the principal was legally nonexistent.

•             if the agency agreement limits the principal's liability for the agent's tort.

 if the tort is also regarded as a criminal act.

7

Which of the following would traditionally not be recoverable as part of a workers’ compensation claim?

Multiple Choice

 Hospital and medical expenses

 Punitive damages

Disability benefits

 Death benefits to dependents

8.

Congress enacted the _____ after congressional investigations during the 1950s uncovered corruption in internal union affairs and revealed that the internal procedures of many unions were undemocratic.

Multiple Choice

 Wagner Act

 Taft-Hartley Act

 Landrum-Griffin Act

Norris-LaGuardia Act

9

What are the two types of ratification?

Multiple Choice

 Estoppel and implied ratification

 Express and implied ratification

Express and actual ratification

 Estoppel and express ratification

10.

The principal's ratification of a contract can be implied from his conduct, even if the principal says nothing to ratify.

True or False

True 

False

11.

Which of the following is most likely to be classed as an independent contractor rather than an employee?

Multiple Choice

 An assembly line worker

 A franchisee of a fast-food chain

The president of a corporation

 A lawyer who works as in-house counsel for a corporation

12.

What is a nondelegable duty?

Multiple Choice

•             A duty of care a principal must perform directly and cannot delegate to an agent.

 A duty of care a principal can delegate only by implied authority.

 A duty of care so important a principal cannot avoid liability by delegating it to an agent.

A duty of care a principal can delegate only by express authority.

13.

Juan is granted an exclusive easement to drive across Carl's driveway. Juan delegates authority to his agent, Stan, to drive across Carl's driveway. Is Stan liable in trespass for driving across Carl's driveway?

Multiple Choice

 Only if he exceeded the scope of the privilege granted him by Juan.

 No, because Carl delegated his authority.

 No, because he is acting as Carl's agent.

 Yes, because the privilege given the agent was not delegable.

14.

While in the course of employment with Marco, Inc., Payne was injured. Marco has complied with the state's mandatory workers' compensation statute. Marco's workers' compensation carrier has asserted the following defences to Payne's claim for workers' compensation benefits:

I. Marco was free from any wrongdoing.

II. Payne assumed the risk by disregarding Marco's safety procedures.

III. Payne's injury was intentionally self-inflicted.

Which defence(s) asserted by the workers' compensation carrier, if proven, will prevent Payne from recovering?

Multiple Choice

•             I and II

•             I only

•             II only

•             III only

15.

For an employee to recover under a workers’ compensation system, what percentage of negligence must the employer be found guilty of?

Multiple Choice

•             The employee does not need to prove employer negligence

•             The employer must be more than 75% negligent for the injury

•             The employer must be 51% negligent for the injury

•             The employer must be more than 30% negligent for the injury

16.

Which of the following is true of revocation and renunciation?

Multiple Choice

 No, because there is no contract in writing.

 Both result in the termination of agency.

A party cannot revoke or renounce if doing so violates the agency agreement.

 Revocation is conducted by the agent and renunciation by the principal.

17.

The principal's death automatically terminates an existing agency under the Restatement (Third) of Agency.

True or False

True

False

18.

Express authority is created by:

Multiple Choic

 body language.

             words.

actions.

 past dealings.

19.

Which of the following statements about the public policy exception to the employment-at-will rule is false?

Multiple Choice

 It has been recognized by over four-fifths of the states.

 It is the most common basis for a wrongful discharge suit.

 A plaintiff that satisfies all of the required elements will win the suit, regardless of whether the employer was justified in terminating the plaintiff based on legitimate business reasons.

A plaintiff bringing a wrongful termination suit in contravention of public policy must show that the state has a clear and substantial public policy related to the plaintiff’s conduct.

20.

The agency relationship may be formed even if the parties do not subjectively intend to create it.

True or False

True 

False