Test Bank For Legal Environment Today 8th Edition By Miller
True / False
1. There is really no reason to be acquainted with business laws and government regulations, except to pass this test.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Introduction
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Risk Analysis
LOCAL STANDARDS: United States – OH – Default City – AICPA Critical Thinking
KEYWORDS: Bloom’s: Knowledge
2. Law consists of enforceable rules governing relationships among individuals and between individuals and their society.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Introduction
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
3. Laws and government regulations affect almost all business activities.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Business Activities and the Legal Environment
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
4. Many different laws may apply to a single business transaction.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Business Activities and the Legal Environment
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
5. Businesspersons are expected to make decisions that are ethically sound.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Business Activities and the Legal Environment
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
6. Being a small-business owner means that you will never have to take on the role of finance manager, marketing manager or accountant.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Business Activities and the Legal Environment
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
7. State laws are the supreme law of the United States.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Sources of American Law
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
8. The federal government and the states have the same constitution.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Sources of American Law
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
9. A state law that conflicts with the U.S. Constitution will be deemed unconstitutional.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Sources of American Law
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
10. State constitutions are supreme within their respective borders.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Sources of American Law
LEARNING OBJECTIVES: LO – 1
NATIONAL STANDARDS: United States – BUSPROG: Analytic
LOCAL STANDARDS: United States – OH – Default City – AICPA Legal
KEYWORDS: Bloom’s: Knowledge
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