Question 1

Which of the following is a government agency referenced in the text that is considering a ban on certain types of children's advertising?

Accepted Answer

A) The American Consumer Agency 
B) The Federal Communications Commission 
C) The Federal Trade Commission 
D) The Federal-State Advertising Coalition 
A) The American Consumer Agency 
B) The Federal Communications Commission 
C) The Federal Trade Commission 
D) The Federal-State Advertising Coalition B

Question 2

Corporate officials cannot be held criminally liable for wrongdoing on behalf of a corporation.

Accepted Answer

A) True 
 B)False  False

Question 3

Which of the following is a type of law referencing formal rules embodied in constitutions and statutes enacted by legislatures?

Accepted Answer

A) Public 
B) Private 
C) Substantive 
D) Remedial 
A) Public 
B) Private 
C) Substantive 
D) Remedial A

Question 4

The choice of business entity will determine the investors' liability for the debts of the business.

Accepted Answer

A) True 
 B)False

Question 5

The European Union's center of operations is in Brussels,Belgium.

Accepted Answer

A) True 
 B)False

Question 6

Which of he following is $\underline{not}$ a way in which laws and regulations promote economic growth?

Accepted Answer

A) By refusing to enforce private agreements 
B) By protecting private property rights 
C) By allocating risks 
D) By facilitating the raising of capital 
A) By refusing to enforce private agreements 
B) By protecting private property rights 
C) By allocating risks 
D) By facilitating the raising of capital

Question 7

Managers can make their own "public" law.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following has the responsibility for deciding which allocation of resources and rewards in a business makes the most business sense?

Accepted Answer

A) The general manager 
B) The in-house lawyer 
C) An independently retained lawyer 
D) An independently retained law firm,not just one lawyer 
A) The general manager 
B) The in-house lawyer 
C) An independently retained lawyer 
D) An independently retained law firm,not just one lawyer

Question 9

It is the job of the general manager of a business,not the lawyer,to decide which allocation of resources and rewards makes the most business sense.

Accepted Answer

A) True 
 B)False

Question 10

Laws enacted in response to corporate misdeeds often impose fewer restrictions and costs on business than would have been imposed had firms acted more responsibly at the outset.

Accepted Answer

A) True 
 B)False

Question 11

Discuss ways in which laws and regulations promote economic growth.

Accepted Answer

Laws and regulations promote economic gr

Question 12

Toby,the CEO of a company that manufactures a certain type of shampoo claimed to leave hair clean for weeks,has been notified that his company is under investigation because a number of customers who purchased the shampoo developed a serious skin allergy.State officials believe that company officials knew of a problem,but disclosed it and continued to market the product.Toby comes to you for advice.He says that there are a number of documents that implicate the company and that he believes the best course of action is to shred them all.What would you tell him?

Accepted Answer

A) That the documents should not be shredded. 
B) That the documents should be shredded only if they have not yet been requested by subpoena. 
C) That the documents should be shredded only if they are at least one year old. 
D) That the documents may be shredded since a state investigation,not a federal one,is involved. 
A) That the documents should not be shredded. 
B) That the documents should be shredded only if they have not yet been requested by subpoena. 
C) That the documents should be shredded only if they are at least one year old. 
D) That the documents may be shredded since a state investigation,not a federal one,is involved.

Question 13

Managers can make their own ______ law by entering into contracts and crafting certain governance structures.

Accepted Answer

A) Public 
B) Primary 
C) Cohesive 
D) Private 
A) Public 
B) Primary 
C) Cohesive 
D) Private

Question 14

Worker protection is one major public policy concern underlying U.S.business law.

Accepted Answer

A) True 
 B)False

Question 15

What percentage of the members of supervisory boards of large German corporations are elected by the workers and unions?

Accepted Answer

A) 80 
B) 75 
C) 50 
D) None 
A) 80 
B) 75 
C) 50 
D) None

Question 16

When a criminal investigation appears likely,managers should act immediately to advise employees to destroy electronic documents,such as e-mails,pertaining to the matter under investigation.

Accepted Answer

A) True 
 B)False

Question 17

Researchers have determined that Fortune 500 firms convicted of illegal conduct earned significantly lower returns on assets than firms that had not been convicted of wrongdoing.

Accepted Answer

A) True 
 B)False

Question 18

Assume that after paying a large fine,a company survives charges of illegal activity.In what ways does illegal conduct put a company at a competitive disadvantage?

Accepted Answer

Illegal conduct can put a firm at a comp

Question 19

Which of the following is a Chinese law applying to corporate political activities in China?

Accepted Answer

A) The Election Act of China 
B) The Criminal Law of China 
C) The Lobbying Law of China 
D) The Election Act of China and the Criminal Law of China,but not the Lobbying Law of China 
A) The Election Act of China 
B) The Criminal Law of China 
C) The Lobbying Law of China 
D) The Election Act of China and the Criminal Law of China,but not the Lobbying Law of China

Question 20

What percentage of the members of supervisory boards of large German corporations are elected by shareholders?

Accepted Answer

A) 80 
B) 75 
C) 50 
D) None 
A) 80 
B) 75 
C) 50 
D) None

Exam 1: law, value creation, and risk management

Which of the following is a government agency referenced in the text that is considering a ban on certain types of children's advertising?

Corporate officials cannot be held criminally liable for wrongdoing on behalf of a corporation.

Which of the following is a type of law referencing formal rules embodied in constitutions and statutes enacted by legislatures?

The choice of business entity will determine the investors' liability for the debts of the business.

The European Union's center of operations is in Brussels,Belgium.

Which of he following is not‾\underline{not}not​ a way in which laws and regulations promote economic growth?

Managers can make their own "public" law.

Which of the following has the responsibility for deciding which allocation of resources and rewards in a business makes the most business sense?

It is the job of the general manager of a business,not the lawyer,to decide which allocation of resources and rewards makes the most business sense.

Laws enacted in response to corporate misdeeds often impose fewer restrictions and costs on business than would have been imposed had firms acted more responsibly at the outset.

Discuss ways in which laws and regulations promote economic growth.

Managers can make their own ______ law by entering into contracts and crafting certain governance structures.

Worker protection is one major public policy concern underlying U.S.business law.

What percentage of the members of supervisory boards of large German corporations are elected by the workers and unions?

When a criminal investigation appears likely,managers should act immediately to advise employees to destroy electronic documents,such as e-mails,pertaining to the matter under investigation.

Researchers have determined that Fortune 500 firms convicted of illegal conduct earned significantly lower returns on assets than firms that had not been convicted of wrongdoing.

Assume that after paying a large fine,a company survives charges of illegal activity.In what ways does illegal conduct put a company at a competitive disadvantage?

Which of the following is a Chinese law applying to corporate political activities in China?

What percentage of the members of supervisory boards of large German corporations are elected by shareholders?

Ethics ant the law

Courts, sources of law, and dispute resolution

Constitutional bases for business regulation

Agency

Administrative Law

Contracts

sales, licensing, and e-commerce

Torts and Privacy protection

product liability

Intellectual property

The employment agreement

civil rights and employment discrimination

executive compensation and employee benefits

Criminal law

Environmental law

Antitrust

Consumer Protection

real property and land use

Forms of business organizations

Directors, Officers, and Controlling Shareholders

Public and Private Offerings of Securities

Securities Fraud and insider trading

Debtor-Creditor Relations and Bankruptcy

International Business

Filters

Which of he following is $\underline{not}$ a way in which laws and regulations promote economic growth?