Exam 24: Appendix: Working Within the Legal Environment

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Which of the following holds a company liable for damages caused by a defective product even if the firm was unaware of the defect at the time of sale?

(Multiple Choice)

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Question 181

(p.A-5 Confusing: although this question says "could be",the text sites cases that conclude that manufacturers would not be liable. )Under the doctrine of product liability,gun manufacturers could be held liable for the costs of police work and medical care brought about by gun violence.

(True/False)

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Question 182

Which of the following is a condition required for a legally binding contract?

(Multiple Choice)

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Question 183

The Federal Trade Commission issues and interprets rules and regulations regarding business activities.The Federal Trade Commission is a governmental administrative agency.

(True/False)

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Question 184

________ is the legal process by which a person,business,or government entity unable to meet financial obligations is relieved of those debts.

(Multiple Choice)

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Question 185

The purpose of governmental deregulation is to eliminate laws that seem to hinder competition.

(True/False)

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Question 186

Chapter 7 bankruptcy requires the sale of the nonexempt assets of debtors.

(True/False)

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Question 187

If in the normal course of a job an employee creates a cartoon,the copyright belongs to the employer.

(True/False)

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Question 188

Which of the following protects the original work of authors and artists (i.e. ,their books,photos,or cartoons)?

(Multiple Choice)

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Question 189

Another name for "sin tax" is "excise tax."

(True/False)

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Question 190

Which of the following is a requirement for commercial paper to be considered a negotiable instrument? It must:

(Multiple Choice)

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Question 191

Which of the following industries has been deregulated?

(Multiple Choice)

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Question 192

A warranty guarantees that the product sold will be acceptable for the purpose for which the buyer intends to use it.

(True/False)

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Question 193

Explain the difference between statutory law,common law,and business law.

(Essay)

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Question 194

Companies that produced lead-based paint 30 years ago are still subject to the strict product liability provisions of federal tort law.

(True/False)

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Question 195

The Federal Trade Commission enforces laws and guidelines regarding unfair business practices.

(True/False)

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Question 196

A breach of contract occurs when one party fails to follow the terms of the contract.

(True/False)

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Question 197

A patent protects an inventor's right to a product or process.

(True/False)

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Question 198

One of the reasons you bought your mom a name-brand mixer for Mother's Day was that it came with a full warranty.This means that:

(Multiple Choice)

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Question 199

A tax credit is a document that increases a tax bill.

(True/False)

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Question 200

Showing 181 - 200 of 257

Exam 24: Appendix: Working Within the Legal Environment

Which of the following holds a company liable for damages caused by a defective product even if the firm was unaware of the defect at the time of sale?

(p.A-5 Confusing: although this question says "could be",the text sites cases that conclude that manufacturers would not be liable. )Under the doctrine of product liability,gun manufacturers could be held liable for the costs of police work and medical care brought about by gun violence.

Which of the following is a condition required for a legally binding contract?

The Federal Trade Commission issues and interprets rules and regulations regarding business activities.The Federal Trade Commission is a governmental administrative agency.

________ is the legal process by which a person,business,or government entity unable to meet financial obligations is relieved of those debts.

The purpose of governmental deregulation is to eliminate laws that seem to hinder competition.

Chapter 7 bankruptcy requires the sale of the nonexempt assets of debtors.

If in the normal course of a job an employee creates a cartoon,the copyright belongs to the employer.

Which of the following protects the original work of authors and artists (i.e. ,their books,photos,or cartoons)?

Another name for "sin tax" is "excise tax."

Which of the following is a requirement for commercial paper to be considered a negotiable instrument? It must:

Which of the following industries has been deregulated?

A warranty guarantees that the product sold will be acceptable for the purpose for which the buyer intends to use it.

Explain the difference between statutory law,common law,and business law.

Companies that produced lead-based paint 30 years ago are still subject to the strict product liability provisions of federal tort law.

The Federal Trade Commission enforces laws and guidelines regarding unfair business practices.

A breach of contract occurs when one party fails to follow the terms of the contract.

A patent protects an inventor's right to a product or process.

One of the reasons you bought your mom a name-brand mixer for Mother's Day was that it came with a full warranty.This means that:

A tax credit is a document that increases a tax bill.

Taking Risks and Making Profits Within the Dynamic Business Environment

Understanding How Economics Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

How to Form a Business

Entrepreneurship and Starting a Small Business

Management and Leadership

Adapting Organizations to Todays Markets

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Employee-Management Issues and Relationships

Marketing: Helping Buyers Buy

Developing and Pricing Goods and Services

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money,financial Institutions,and the Federal Reserve

Bonus A: Using Technology to Manage Information

Bonus B: Managing Risk

Bonus C: Managing Your Personal Finances

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