TJ_Comp 20_TB_Ch03
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TJ_Comp 20_TB_Ch03

Course Number: BUS BUS212, Spring 2012

College/University: FSU

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Chapter 3BUSINESS ETHICS, SOCIAL FORCES, AND THE LAW TRUE/FALSE 1. Ethics is a philosophical concept that deals with values related to the nature of human conduct. ANS: T MSC: AACSB Analytic 2. The field of business ethics recognizes that social values typically must yield to the profitability motive. ANS: F MSC: AACSB Analytic 3. Moral standards based on positive law may allow businesses to conduct...

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3BUSINESS Chapter ETHICS, SOCIAL FORCES, AND THE LAW TRUE/FALSE 1. Ethics is a philosophical concept that deals with values related to the nature of human conduct. Register to View Answer MSC: AACSB Analytic 2. The field of business ethics recognizes that social values typically must yield to the profitability motive. Register to View Answer MSC: AACSB Analytic 3. Moral standards based on positive law may allow businesses to conduct them-selves unfairly so long as their actions are not illegal. Register to View Answer MSC: AACSB Analytic 4. Under a moral standard based on natural law, it may be necessary to violate positive law to preserve fundamental individual rights. Register to View Answer MSC: AACSB Analytic 5. Situational ethics is a moral system whose rigidity makes it unnecessary to examine motivation behind conduct in order to label it right or wrong. Register to View Answer MSC: AACSB Analytic 6. In applying the stakeholder model of business ethics, only the interests of important constituencies af fected by an action need to be satisfied. Register to View Answer MSC: AACSB Analytic 7. There is often a conflict between the goal of making money for shareholders and the goal of solving social problems through business. Register to View Answer MSC: AACSB Analytic 8. In addition to issues of social responsibility, business values and ethics play an important role in the success or failure of a business. Register to View Answer MSC: AACSB Analytic 9. Trust is a fundamental basis of the capitalist system that is central to the expectations of investors, cus tomers, and other firm stakeholders. Register to View Answer MSC: AACSB Analytic 10. Ethical conduct is desirable but not necessary; business could be done relying solely on positive law and its enforcement in the courts. Register to View Answer MSC: AACSB Analytic 11. Economic growth tends to be fastest among developing countries where payments to key administrat ors can increase transaction efficiency. Register to View Answer MSC: AACSB Analytic 12. Unfortunately, there is no evidence that commitment to ethical values is linked with financial perform ance of business organizations. Register to View Answer MSC: AACSB Analytic 13. Evidence suggests that there may be relationships among ethical customer and employee relations and long-term ability to pay dividends. Register to View Answer MSC: AACSB Analytic 14. Ethical violations can cause lasting detriment to a company's ability to do business through impacts on the company's reputation. Register to View Answer MSC: AACSB Analytic 15. An accumulation of complaints from employees, customers, or investors can lead to imposition of re strictive new regulations and laws. Register to View Answer MSC: AACSB Analytic 16. Unwillingness of businesses to voluntarily improve the ethics of their practices has little practical ef fect on the regulatory environment. Register to View Answer MSC: AACSB Analytic 17. Under U.S. law, the legal owner (titleholder) of property is free to engage in any use of the property that he or she may desire. Register to View Answer MSC: AACSB Analytic 18. Both freedom from political domination and freedom from economic domination are personal rights protected under U.S. law. Register to View Answer MSC: AACSB Analytic 19. Individual intentions, as expressed in contracts and wills, will not be given effect in the U.S. unless ex pressly authorized by law. Register to View Answer MSC: AACSB Analytic 20. Protection against fraud and exploitation are found both in securities laws and Food and Drug Admin istration regulations. Register to View Answer MSC: AACSB Analytic 21. Regulation of the Federal Reserve system, negotiable instruments, and installment credit transactions are designed largely to facilitate trade. Register to View Answer MSC: AACSB Analytic 22. The often competing rights of both debtors and creditors are balanced and protected from excesses un der U.S. law. Register to View Answer MSC: AACSB Analytic 23. Mortgages, security interests, and surety relationships are legal mechanisms created primarily to pro mote stability and flexibility in trade. Register to View Answer MSC: AACSB Analytic 24. Escape clauses are mechanisms created to promote flexibility in the administration of laws that appear unfair in particular circumstances. Register to View Answer MSC: AACSB Analytic 25. A tenant's interest in fundamental fairness might outweigh the landlord's interest in freedom of trade. Register to View Answer MSC: AACSB Analytic 26. U.S. common law requires that case precedents be followed under all circumstances. Register to View Answer MSC: AACSB Analytic 27. Despite the importance of ethical behavior for business success, few Fortune 500 companies have codes of ethics to resolve ethical dilemmas. Register to View Answer MSC: AACSB Analytic 28. Differences among businesses preclude the development of any universal categories of ethical behavi or. Register to View Answer MSC: AACSB Analytic 29. Over half of all Fortune 500 firms train their employees to recognize and deal with particular types of behavior that breach their ethical codes. Register to View Answer MSC: AACSB Analytic 30. Recognizing that an ethical dilemma exists is usually far more difficult than resolving the dilemma once its existence is recognized. Register to View Answer MSC: AACSB Analytic MULTIPLE CHOICE 1. Among the guidelines for balancing the interests of various stakeholders to resolve ethical dilemmas in business are: a. identify potential parties who could be injured by the proposed action. b. define the problem from both the decision maker's and opposing viewpoints. c. ask whether you would be willing to describe a proposed action to your family, the board of directors, a congressional hearing, or other public forum. d. all of the above. Register to View Answer MSC: AACSB Analytic 2. The importance of trust as a fundamental principle underlying business transactions is illustrated by expectations that: a. investors will be able to earn a return on their investments. b. employees may be discharged at any time for any reason without notice. c. litigation is inevitable because parties to agreements usually break promises. d. insider trading proves that the economic system underlying business is flawed. Register to View Answer MSC: AACSB Analytic 3. Which of the following has been linked with the long-term growth and profitability of business organ izations? a. high standards for product quality b. high standards for employee welfare c. high standards for customer service d. all of the above Register to View Answer MSC: AACSB Analytic 4. Legislation and government regulations typically are enacted in response to: a. isolated but serious ethical transgressions by businesses. b. ongoing technological changes that make it easier to circumvent old laws. c. widespread abuses of gaps in existing laws that are fundamentally unfair. d. changes in the availability of organizational resources. Register to View Answer MSC: AACSB Analytic 5. Voluntary improvements in the fairness and ethics of business behavior are: a. less effective than those brought about by government regulation. b. less costly and intrusive than those brought about by government regulation. c. virtually nonexistent in corporate more America. d. common in third-world countries than in the United States. Register to View Answer MSC: AACSB Analytic 6. Laws such as those authorizing tax collection and draft registration exist primarily: a. because they are morally justified. b. to protect individual health and welfare. c. to protect individual property rights. d. to enable the government to continue to function. Register to View Answer MSC: AACSB Analytic 7. Laws that prohibit defamation, invasions of privacy, and discrimination exist primarily: a. for protection of the person. b. for protection of public health, safety, and morals. c. for protection of property. d. for protection of the state. Register to View Answer MSC: AACSB Analytic 8. Laws that prohibit mislabeling of food, speeding, and sale of alcohol to minors exist primarily: a. b. c. d. for protection of the person. for protection of public health, safety, and morals. for protection of property. for protection of the state. Register to View Answer MSC: AACSB Analytic 9. Laws that prohibit theft, operation of a factory in areas zoned residential, and copyright infringement exist primarily: a. for protection of the person. b. for protection of public health, safety, and morals. c. for protection of property. d. for protection of the state. Register to View Answer MSC: AACSB Analytic 10. The owner of a factory that releases toxic chemicals into the air and surrounding waterways may be in violation of: a. environmental regulations. b. zoning regulations. c. antitrust regulations. d. all of the above. Register to View Answer MSC: AACSB Analytic 11. The passage of federal securities disclosure laws occurred largely as the result of: a. voluntary self-regulation by ethics experts in the securities industry. b. the stock market crash of 1929. c. changes in the international market for securities and negotiable instruments. d. all of the above. Register to View Answer MSC: AACSB Analytic 12. The ethical category of integrity and truthfulness is best expressed as: a. maintaining one's values and principles so long as profits can be maintained. b. maintaining one's values and principles so long as the costs are not great. c. maintaining one's values and principles unless deviating will go unnoticed. d. maintaining one's values and principles despite the consequences or costs. Register to View Answer MSC: AACSB Analytic 13. In attempting to fulfill the ethical category of promise-keeping, it is important to avoid multiple con flicting commitments because: a. it will not always be possible to pay dividends. b. promises to pay taxes can only be subordinated to secured debt. c. repeatedly breaking promises will cost a business its reputation in the long run. d. stakeholders will relax their expectations if they know you are overextended. Register to View Answer MSC: AACSB Analytic 14. Which of the following situations reflects a possible conflict of interest? a. You offer a company contract to a friend without checking competing bids. b. You hire a relative for a company position although another is more qualified. c. You buy a piece of realty that would be suitable for a planned company project. d. All of the above. Register to View Answer MSC: AACSB Analytic 15. The ethical category of fairness is best expressed as: a. Do unto others as you would have them do unto you. b. Let the buyer beware. c. He who laughs last laughs best. d. No harm, no foul. Register to View Answer MSC: AACSB Analytic 16. Primum non nucerum is Latin for: a. Above all, do no harm. b. Let the buyer beware. c. She who lives in a glass house shouldn't throw stones. d. No nukes is good nukes. Register to View Answer MSC: AACSB Analytic 17. An ethical duty of confidentiality could be breached where: a. information obtained through research of the employer is disclosed. b. customer lists or leads are disclosed to a competitor. c. success of a business depends on proprietary information or technology. d. all of the above. Register to View Answer MSC: AACSB Analytic 18. The Blanchard and Peale three-part test for resolving ethical dilemmas consists of the following ques tions: a. Is it legal? Is it ethical? Is it moral? b. Is it legal? Is it balanced? How does it feel? c. Is it ethical? Is it right? Is it front-page material? d. Is it right? Is it balanced? Does it smell funny? Register to View Answer MSC: AACSB Analytic 19. In applying the front-page-of-the-newspaper test to a contemplated course of conduct one should ask: a. Would I be found criminally liable if this winds up on the front page? b. Would I be liable for monetary damages if this winds up on the front page? c. Would I be willing to have my spouse, friends, and children read about this if it winds up on the front page? d. Would I be able to explain this to the authorities if it winds up on the front page? Register to View Answer MSC: AACSB Analytic 20. The Laura Nash Model for resolving ethical dilemmas: a. seeks to examine the dilemma from multiple perspectives. b. seeks input from others in order to avoid pressure to yield to consensus. c. seeks to consider both the perceived dilemma and the "real" dilemma. d. all of the above. Register to View AnswerCASE MSC: AACSB Analytic 1. John-Thomas operates a business that almost always hires skilled workers. The operation does have an opening, however, for someone who need not have had any training. John-Thomas is thinking about hiring someone from the welfare rolls instead of contacting the local college part-time employment of fice. Apply the "Guidelines for Analyzing a Contemplated Action" to this problem. ANS: From the decision maker's point of view, there is greater risk using someone from the welfare rolls than someone from the usual source for untrained employees. If the action is taken, there may be dis ruption in the workplace because of employees working with a type of person they are not familiar with. The value of hiring off the rolls is twofold: First, there may be a greater likelihood of assisting someone with a family (i.e., more individuals would benefit); and, second, the firm would further the current initiative to move individuals from "Welfare to Work." MSC: AACSB Reflective Thinking | AACSB Analytic 2. Sharon works in an office with five other women. All six are supervised by Martin, a corporate vice president. Sharon sees that one of the women is being sexually harassed by Martin. Sharon is thinking about reporting the offensive conduct. What categories of ethical behavior might be impacted by this dilemma? ANS: First, she is under no legal duty to report behavior that violates laws prohibiting sexual harassment. In considering whether she should report the conduct, Sharon should consider the following categories: (1) If she reports, she may have violated a trust relationship with her supervisor; (2) if she reports, she may have violated a duty of loyalty to her supervisor; (3) if she does not report, harm will continue to occur. MSC: AACSB Reflective Thinking | AACSB Analytic

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FSU - BUS - BUS212
Chapter 4THE CONSTITUTION AS THE FOUNDATION OF THE LEGALENVIRONMENTTRUE/FALSE1. In a federal system, a central government is given power to act nationally while states administer tolocal concerns.ANS: TMSC: AACSB Analytic2. The term constitution ma
FSU - BUS - BUS212
Chapter 5GOVERNMENT REGULATION OF COMPETITION ANDPRICESTRUE/FALSE1. The federal government may regulate business.ANS: TMSC: AACSB Analytic2. State governments may regulate business in all of its aspects, even if such regulation imposes a burdenon i
FSU - BUS - BUS212
Chapter 6ADMINISTRATIVE AGENCIESTRUE/FALSE1. An administrative agency is a governmental body charged with administering and implementing legis lation.ANS: TMSC: AACSB Analytic2. Administrative agencies may make the rules, police the community to see
FSU - BUS - BUS212
Chapter 7THE LEGAL ENVIRONMENT OF INTERNATIONAL TRADETRUE/FALSE1. When an international sale is made, the parties often set forth in their contract which country's law willgovern a dispute.ANS: TMSC: AACSB Analytic2. Parties to international venture
FSU - BUS - BUS212
Chapter 8CRIMESTRUE/FALSE1. Crimes and criminal punishment guidelines are specified in detailed criminal codes and statutes.ANS: TMSC: AACSB Analytic2. The criminal law of all states is the same because all states have adopted a uniform criminal code
FSU - BUS - BUS212
Chapter 9TORTSTRUE/FALSE1. A victim of a tort may sue and recover money damages.ANS: TMSC: AACSB Analytic2. The same act may be both a breach of contract and a tort.ANS: TMSC: AACSB Analytic3. Civil (noncriminal) wrongs, including breaches of cont
FSU - BUS - BUS212
Chapter 10INTELLECTUAL PROPERTY RIGHTSTRUE/FALSE1. A trademark is a word, name, symbol, device, or combination of these, that is used to identify aproduct.ANS: TMSC: AACSB Analytic2. Trademarks may be used to protect the exclusive right to identify
FSU - BUS - BUS212
Chapter 11CYBERLAWTRUE/FALSE1. Approximately 80% of all U.S. workers use computers at their work.ANS: TMSC: AACSB Analytic2. Cyberlaw is a completely new area of law, unrelated to any established field of law.ANS: FMSC: AACSB Analytic3. Cyberspace
FSU - BUS - BUS212
Chapter 12NATURE AND CLASSES OF CONTRACTS: CONTRACTINGON THE INTERNETTRUE/FALSE1. Quasi contracts are contracts.ANS: FMSC: AACSB Analytic2. A contract is essentially an agreement that creates an obligation.ANS: TMSC: AACSB Analytic3. Because tran
FSU - BUS - BUS212
Chapter 13FORMATION OF CONTRACTS: OFFER AND ACCEPTANCETRUE/FALSE1. To create an offer, an offeror must intend, or it must appear that the offeror intends, to be bound to acontractual relationship.ANS: TMSC: AACSB Analytic2. Generally, advertisements
FSU - BUS - BUS212
Chapter 14CAPACITY AND GENUINE ASSENTTRUE/FALSE1. Certain persons cannot make contracts that will bind them.ANS: TMSC: AACSB Analytic2. Factual incapacity is imposed because of the class or group to which a person belongs.ANS: FMSC: AACSB Analytic
FSU - BUS - BUS212
Chapter 15CONSIDERATIONTRUE/FALSE1. The concept of consideration has clearly been phased out of the law.ANS: FMSC: AACSB Analytic2. Consideration is what a promisor demands and receives as the price for the promise.ANS: TMSC: AACSB Analytic3. In a
FSU - BUS - BUS212
Chapter 16LEGALITY AND PUBLIC POLICYTRUE/FALSE1. An agreement is illegal when either its formation or performance is a crime or a tort, or it is contrary topublic policy.ANS: TMSC: AACSB Analytic2. Where a court recognizes an agreement to be illegal
FSU - BUS - BUS212
Chapter 17WRITING, ELECTRONIC FORMS, AND INTERPRETATIONOF CONTRACTSTRUE/FALSE1. A failure to sign and return a written contract establishes that there is not a contract.ANS: FMSC: AACSB Analytic2. The statute of frauds applies to a five-year contrac
FSU - BUS - BUS212
Chapter 18THIRD PERSONS AND CONTRACTSTRUE/FALSE1. Generally, only the parties to a contract may sue on it.ANS: TMSC: AACSB Analytic2. Persons who are not a party to a contract never can bring a suit based on that contract.ANS: TMSC: AACSB Analytic
FSU - BUS - BUS212
Chapter 19DISCHARGE OF CONTRACTSTRUE/FALSE1. Generally, contracts are discharged by the performance of the terms of the contract.ANS: TMSC: AACSB Analytic2. A contract can be discharged by the expiration of the time period specified in the contract.
FSU - BUS - BUS212
Chapter 20BREACH OF CONTRACT AND REMEDIESTRUE/FALSE1. When one party breaks the contract, the contract is said to be breached.ANS: TMSC: AACSB Analytic2. When a party expressly declares that performance on a contract will not be made when required, s
FSU - BUS - BUS212
Chapter 21PERSONAL PROPERTY AND BAILMENTSTRUE/FALSE1. Property includes the rights of any person to possess, use, enjoy, and dispose of a thing or object ofvalue.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. The legal concept of property is limite
FSU - BUS - BUS212
Chapter 22LEGAL ASPECTS OF SUPPLY CHAIN MANAGEMENTTRUE/FALSE1. The term special bailee is an historical term, but a special bailee has no greater duty than any otherbailee.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. The storage of goods in a war
FSU - BUS - BUS212
Chapter 23NATURE AND FORM OF SALESTRUE/FALSE1. The transferor of goods is the buyer or vendee, while the transferee of goods is the seller or vendor.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. The subject matter of a sale of goods may be anything
FSU - BUS - BUS212
Chapter 24TITLE AND RISK OF LOSSTRUE/FALSE1. A seller's insurable interest in goods always terminates with the passage of the title to the buyer.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. Goods are called identified goods when they have been sel
FSU - BUS - BUS212
Chapter 25PRODUCT LIABILITY: WARRANTIES AND TORTSTRUE/FALSE1. If the theory of privity of contract still applied, it would be difficult for purchasers injured by defectivegoods to sue manufacturers.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. The
FSU - BUS - BUS212
Chapter 26OBLIGATIONS AND PERFORMANCETRUE/FALSE1. The obligation of all parties to perform in good faith is the same because everyone is required to behonest.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. The UCC imposes a higher degree of good fai
FSU - BUS - BUS212
Chapter 27REMEDIES FOR BREACH OF SALES CONTRACTSTRUE/FALSE1. The UCC provides the statute of limitations for the sale of goods when suit is brought on a tort theory.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. An action for breach of warranty gene
FSU - BUS - BUS212
Chapter 28KINDS OF INSTRUMENTS, PARTIES, AND NEGOTIABILITYTRUE/FALSE1. Instruments always are negotiable.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. Instruments are transferable, written, signed promises or orders to pay a specified sum of money.
FSU - BUS - BUS212
Chapter 29TRANSFERS OF NEGOTIABLE INSTRUMENTS AND WAR RANTIES OF PARTIESTRUE/FALSE1. An instrument may be transferred by negotiation or by assignment.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. When a negotiable instrument is assigned, the transf
FSU - BUS - BUS212
Chapter 30LIABILITY OF THE PARTIES UNDER NEGOTIABLE INSTRU MENTSTRUE/FALSE1. Any holder has all the rights relating to an instrument.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. An ordinary holder who is not a holder in due course can enforce the
FSU - BUS - BUS212
Chapter 31CHECKS AND FUNDS TRANSFERSTRUE/FALSE1. A check is a particular kind of draft.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. The drawee of a check is always a bank.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic3. A check is drawn on the a
FSU - BUS - BUS212
Chapter 32NATURE OF THE DEBTOR-CREDITOR RELATIONSHIPTRUE/FALSE1. Suretyship is governed by the UCC.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. Suretyship, guaranty, and indemnity contracts all create a relationship by which one party becomes re s
FSU - BUS - BUS212
Chapter 33CONSUMER PROTECTIONTRUE/FALSE1. The aim of consumer-protection legislation is to protect persons of limited means and limited know ledge.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. The category of protected consumers has been expanded b
FSU - BUS - BUS212
Chapter 34SECURED TRANSACTIONS IN PERSONAL PROPERTYTRUE/FALSE1. A security interest gives a creditor more protection than is afforded by a right to sue on the debt.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. A security interest is a property righ
FSU - BUS - BUS212
Chapter 35BANKRUPTCYTRUE/FALSE1. Jurisdiction over bankruptcy proceedings is vested in the federal district courts.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. In a liquidation proceeding, the debtor's nonexempt assets are collected by the trustee
FSU - BUS - BUS212
Chapter 36INSURANCETRUE/FALSE1. Insurance is a contract by which one party for a stipulated consideration promises to pay another partya sum of money upon the occurrence of a stated event in which the other party has an interest.ANS: TTOP: AICPA BB-L
FSU - BUS - BUS212
Chapter 37AGENCYTRUE/FALSE1. Through agency, one person can make contracts at numerous places with many different parties at thesame time.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. An agent is authorized to make contracts for, and is under the
FSU - BUS - BUS212
Chapter 38THIRD PERSONS IN AGENCYTRUE/FALSE1. The liability of an agent to a third person depends on the existence of authority and the manner of ex ecuting the contract.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. If an agent makes a properly aut
FSU - BUS - BUS212
Chapter 39REGULATION OF EMPLOYMENTTRUE/FALSE1. Employment law is based on a combination of contract law and the law established by courts, law makers, and administrative agencies.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. In older cases, the emp
FSU - BUS - BUS212
Chapter 40EQUAL EMPLOYMENT OPPORTUNITY LAWTRUE/FALSE1. Equal employment opportunity laws provide protection for minorities and women, but the disabled arenot within the protection of the laws.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. Title VII
FSU - BUS - BUS212
Chapter 41TYPES OF BUSINESS ORGANIZATIONSTRUE/FALSE1. A sole proprietor must file a certificate indicating that he or she is commencing operations and pay asingle organizational fee.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. A sole proprietorsh
FSU - BUS - BUS212
Chapter 42PARTNERSHIPSTRUE/FALSE1. The Uniform Partnership Act, a codification of partnership law, has been adopted by 49 states.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. Each partner is an agent of the partnership.ANS: TTOP: AICPA BB-LegalM
FSU - BUS - BUS212
Chapter 43LPs, LLCs, AND LLPsTRUE/FALSE1. Even limited partners are completely liable for debts of the business.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. A tax law ruling is responsible for the rapid growth of limited liability company statutes
FSU - BUS - BUS212
Chapter 44CORPORATE FORMATIONTRUE/FALSE1. A corporation is an artificial person that is created by governmental action.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. Debts of a corporation are not the debts of the persons running the corporation or
FSU - BUS - BUS212
Chapter 45SHAREHOLDER RIGHTS IN CORPORATIONSTRUE/FALSE1. The two most common instruments used to provide the capital structure of a corporation are stocks andbonds.ANS: TTOP: AICPA BB-LegalMSC: AACSB Analytic2. Each shareholder owns a proportionate
FSU - BUS - BUS212
Chapter 46SECURITIES REGULATIONTRUE/FALSE1. State blue-sky laws are subject to the very important limitation that they can apply only to intrastatetransactions and cannot apply to sales made in interstate commerce.ANS: TTOP: AICPA BB-LegalMSC: AACSB
FSU - BUS - BUS212
Chapter 47ACCOUNTANTS' LIABILITY AND MALPRACTICETRUE/FALSE1. When an accountant makes a contract to perform services, there is a duty to exercise the skill and carethat are common within the community for persons performing similar services.ANS: TTOP
FSU - BUS - BUS212
Chapter 48MANAGEMENT OF CORPORATIONSTRUE/FALSE1. In a large corporation, the shareholders are often the managers of the corporation.ANS: FTOP: AICPA BB-LegalMSC: AACSB Analytic2. Electing directors who most reflect the shareholders' interests and at
FSU - BUS - BUS212
Chapter 49REAL PROPERTYTRUE/FALSE1. Real property includes land, buildings and fixtures, and rights in the land of another.ANS: TMSC: AACSB Analytic2. Technically, land is considered as extending downward to the earth's center and upward indefinitely
FSU - BUS - BUS212
Chapter 50ENVIRONMENTAL LAW AND LAND USE CONTROLSTRUE/FALSE1. Beginning in 1969, Congress adopted a series of laws designed to prevent the pollution of the air andwater and to reduce noise.ANS: TMSC: AACSB Analytic2. Many federal statutes concerned
FSU - BUS - BUS212
Chapter 51LEASESTRUE/FALSE1. A lease is the relationship by which one person is in lawful possession of real property owned by an other.ANS: TMSC: AACSB Analytic2. The relationship of landlord and tenant always is created by an express contract.ANS:
FSU - BUS - BUS212
Chapter 52DECEDENTS' ESTATES AND TRUSTSTRUE/FALSE1. The debts of a decedent are paid prior to distribution of any balance of the estate to those entitled to re ceive it.ANS: TMSC: AACSB Analytic2. Testate distribution describes the distribution that
Wayne State University - GEL - 1010
Big Bang Theory 13.7 billion years old*Universe was once extremely hot and dense state that expanded rapidly*Rapid expansion caused universe to cool* Cooled energy was converted into subatomic particles*[Articles formed atomsbuilding block of matter*
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Classical & Modern Languages, Literatures and CulturesNE 2040/HS 1810: Sec. 001/CRN13227Modern Middle East History: Fall 2010134 State Hall, M/W 11:45am 1:10pmSaeed A. Khan437.1 Manoogian HallOffice Hours: M, W: 3:00pm- 4:00pm or by appointmentphon
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7.3 Coordinates and Change of BasisIf B = cfw_v1 , v2 , . . . , vk is a basis for a subspace W , thenevery vector u in W can be written in the formc1 v1 + c2 v2 + + ck vkbecause B spans W .At the same time, we cannot have two dierentlinear combinat
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