Business Law questions

Which of the following is called the ‘television test’ with regard to the WPH framework?

Golden Rule

Social Responsibility

Universalization

Public disclosure

2.
award:
2 out of
2.00 points

What is an ethical dilemma?

A problem about what a firm should do, for which no clear, right decision is available.

Application of ethics to the special problems and opportunities experienced by businesspeople.

The expectations that communities have from businesses.

Study and practice of decisions about what is good, or right.

3.
award:
2 out of
2.00 points

Which of the following laws would govern a dispute between a tenant and a landlord over payment of rent?

Public law

Commercial law

Private law

Corporate law
4.
award:
2 out of
2.00 points

The legality of a business decision is the _____ standard that must be met.

maximal

optional

moderate

minimal

5.
award:
2 out of
2.00 points

Acme manufactures food products and is opening a subsidiary in Country Z. The firm discovers that to obtain raw materials it has to bribe local officials and businesses in Country Z. The second option is to import raw materials from its own country, which will be expensive in the long-run. In this situation, Acme:

is faced with an ethical dilemma.

can apply the concept of virtue ethics.

has no social responsibility toward Country Z.

needs to only focus on profitability.

6.
award:
0 out of
40.00 points

Cindy ran her car over Hank in her company parking lot breaking his leg. That happened because, without warning, Cindy’s car brakes failed. Hank sues Cindy. Cindy decides to do nothing because she sees no way that she can win the lawsuit. Is she right? Why or why not? What would you suggest that she do in the civil litigation? Why is it important that Cindy proceed correctly and immediately at this point in the litigation?

7.
award:
2 out of
2.00 points

Which of the following is a way to take the universalization test for a business owner?

Taking into account whether God would judge the decision to be correct or not.

Considering the impact on the world if the decision were applied by all businesses.

Putting himself in the position of the stakeholder and judging the decision.

Informing the public of the business decision before it is taken.

8.
award:
2 out of
2.00 points

What is the intent of the Sarbanes Oxley Act?

Encouraging stakeholders to take a more active role in business.

Setting limitations for Internet usage in business.

Apprehending businesses who use unethical trading means.

Promoting high standards of business ethics.

9.
award:
2 out of
2.00 points

In response to the trade union’s demands, Firm Z holds an executive-level meeting. In the meeting, the executives weigh the monetary consequences of agreeing to the union’s demands. Which theory of business ethics are they following?

Consequentialism

Rule utilitarianism

Cost benefit analysis

Act utilitarianism

10.
award:
2 out of
2.00 points

Which of the following concepts come under legal realism?

Some higher law or body of moral principles connects all of us in the human community.

Past practice was the product of careful thought.

Certain ethical laws and principles believed to be morally right and “above” the laws devised by humans.

Law can never be enforced with complete consistency.

11.
award:
2 out of
2.00 points

New statutory law can revoke _____ law.

criminal

corporate

case

private

12.
award:
2 out of
2.00 points

Why is ethical fundamentalism difficult to follow?

It denies the existence of any fixed moral standards.

The unquestionable nature of rules is overly inflexible.

It does not offer specific-enough criteria to be useful in many real-world situations.

It does not say how to evaluate someone’s actions.

13.
award:
2 out of
2.00 points

Which of the following laws is especially significant for businesses that operate in multiple legal jurisdictions?

Trade law

Case law

Administrative law

Restatements of law

14.
award:
2 out of
2.00 points

A labor union at a match factory protested against the unhealthy conditions in which they were required to work. Management refused to make changes since all the workers had signed an employment contract stating that they were willing to work in any condition provided by the factory. Despite the legal contract, the labor union has decided to litigate. On what grounds would their case, most likely, be fought?

Tradition

Legal realism

Natural law

Legal positivism

15.
award:
2 out of
2.00 points

A company is caught bribing government officials in foreign countries in order to establish and maintain its affiliate branches there. The fines levied on the company fall under which act?

Foreign Criminal Practices Act

Foreign Corrupt Practices Act

International Modernization Act

Sarbanes Oxley Act

16.
award:
2 out of
2.00 points

Which of the following is an intended and essential purpose of law?

To impose checks on citizens.

To rely upon the goodwill of others.

To demand respect.

To encourage social justice.

17.
award:
2 out of
2.00 points

Why must multinational companies take into account the different ethical understandings that prevail in a different country?

Business ethics can never produce a list of correct business decisions that all ethical businesses will make.

Legal rules that govern the exchange have been shaped in large part by our sense of commercial ethics.

Ethical conceptions shape business law and business relationships uniquely in each country.

Law and business ethics serve as an interactive system—informing and assessing each other.

18.
award:
2 out of
2.00 points

A collection of rules and decisions made by government agencies is known as _____ law.

common

administrative

corporate

agency

19.
award:
2 out of
2.00 points

Business law consists of _____ that govern commercial relationships.

traditional regulatory bodies

dominant systems and practices

enforceable rules of conduct

conventional channels

20.
award:
2 out of
2.00 points

The difference between civil law versus criminal law is that, the guilty defendant of a:

civil case is never incarcerated.

civil case is either incarcerated or required to pay a fine.

criminal case is always incarcerated.

criminal case is never required to pay a fine.

21.
award:
2 out of
2.00 points

Ethical relativism holds that morality is _____.

divine

neutral

objective

relative

22.
award:
2 out of
2.00 points

Which of the following laws is defined as, “A collection of rules and laws put forth by legislating bodies”?

Statutory law

Administrative law

Common law

Constitutional law

23.
award:
2 out of
2.00 points

A restaurant regularly overfills trash cans in the alley and improperly disposes left-over meat and other perishables. Which of the following laws will regulate this incident?

Criminal and public law

Public and civil law

Public law

Private law

24.
award:
2 out of
2.00 points

Why must firms honor, to some extent, the social responsibility to business?

The community often imposes restrictions on firms that only provide a useful good or services.

Most communities have similar expectations of businesses.

The community expects businesses to obey certain standards of fairness, except when the standards interfere with profit maximization.

Firms are always subject to the implicit threat that legislation will impose social obligations on them.

25.
award:
2 out of
2.00 points

Which of the following theories of business ethics is most concerned with human relationships?

Deontology

Ethics of care

Utilitarianism

Virtue ethics

26.
award:
2 out of
2.00 points

A garment manufacturing company wants to shift from being a supplier to a retailer. Which of the following will govern the legal aspects of this decision?

Corporate law

Business law

Administrative law

Employment law

27.
award:
2 out of
2.00 points

Wong owned a laundry store in Colorado but had to move to Salt Lake City, Utah for personal reasons. He wants to establish another laundry store in the new city. He can find information regarding local taxes if he refers to:

local ordinances.

local laws.

local codes.

local statutes.

28.
award:
2 out of
2.00 points

“Not letting morality interfere with the obedience of law” comes under which concept?

Tradition

Natural law

Legal positivism

Identification with the vulnerable

29.
award:
2 out of
2.00 points

The definition of business ethics refers to _____ of business conduct.

correct decisions

definitive lists

legality

standards

30.
award:
2 out of
2.00 points

Which of the following statements is true according to the categorical imperative of deontology?

No decision taken by the business manager can be wrong as morality is subjective.

A business manager should put himself in the shoes of the person to be affected by his decision and then decide.

A business manager should choose the action which yields the greatest amount of pleasure over pain for all involved.

A business decision can be evaluated on the basis that it would be consistent for everyone in society to take the same decision.

31.
award:
2 out of
2.00 points

The U.S. Code contains legislative acts passed by the _____.

House of Representatives

Senate

President

U.S. Congress