BUS 201 FINAL EXAM QUESTIONS AND
VERIFIED ANSWER; 100% CORRECT; 2026
UPDATE
A decedent's will provided that the estate was divided among
the decedent's heirs per stirpes and not per capita. If there are
two surviving children and three grandchildren who are the
children of a predeceased child at the time the will is probated,
how will the estate be divided? - correct answer- 1/3 will go
to each surviving child and 1/9 will go to each grandchild (it is
1/3 that would have go to the deceased mother split up among
them)
A man and a woman are married, and have NO children, the
man's parents are alive. If the man dies without a will who
inherits? - correct answer- The wife receives the first
$60,000 plus 1/2 of the balance of the probate estate. The
surviving parents will receive the other 1/2.
A man and a woman are married, and have NO kids, the man's
parents are deceased. The man dies without a will who will
inherit? - correct answer- The wife will inherit everything
,A man and a woman are married, they have kids. It does not
matter if the parents are alive or not. If the man dies without a
will who will inherit? - correct answer- The wife receives the
first $60,000 plus 1/2 the balance of the probate estate, and the
biological children receive the other 1/2.
A man and woman are married and there is one child from the
man's previous marriage, if the man dies without a will who will
inherit? - correct answer- The wife inherits 1/2 of the
probate estate (without the first $60,000) and the child receives
the other 1/2 of the probate estate.
Airplane ethics example - correct answer- when switching
plans the announcer said "if you are going to _____ you don't
have to get off this plane is going there too" but Sanford saw a
struggling mother and offered to help them. The flight attendant
saw what he had done and upgraded him to first class for the
following flight.
all of us should let our actions be guided by the following three
principals: - correct answer- -follow the golden rule
-understand that ultimately our business will reap what we sow
-the character of our employees matters, thus, the timeless
values of honesty, decency, fairness, trust, responsibility,
respect, caring and honor matter in our business
,appointment of directors - correct answer- once a corporate
charter is obtained, temporary directors (normally appointed by
the promoter) have a meeting to authorize the selling of the
stock. The number of directors will depend on state law and the
corporation by-laws.
are shareholders involved with management - correct answer-
they are not involved with management of the corporation, they
do not elect officers.
are trusts for tax or nontax purposes? - correct answer- in
general a trust is a separate legal entity for both tax and nontax
purposes.
belize and international law - correct answer- they publicly
shame their criminals, thus less people commit crime
buckle employee inner voice example - correct answer-
There was a guy that worked at buckle and a woman walked in,
something told him he needed to go talk to her and he asked her
what she was doing and if she was looking for anything and then
she said no and left. the came back in and the guy talked to her
again, this time the woman said that she just felt like she was
, supposed to be there. it turned out that she was his biological
mother.
business management in the old days - correct answer- in
the old days business managers were taught to manage the
business to maximize profits only, and if you did not do this you
would lose out in the business competitive market.
business management today - correct answer- today the
smart business manager manages with an eye on the triple
bottom line, this way you act ethically and promote
sustainability.
canada and international law - correct answer- going 50
kilometers over the speed limit is a $10,000 fine, loss of car, plus
lose driver's liscense for 3 years.
Colombia and international law - correct answer- against the
law to get an abortion
corporate directors and management - correct answer- the
right to manage the corporation is vested in the board of
directors. although the directors are elected by the
shareholders, the directors have a right to manage the
VERIFIED ANSWER; 100% CORRECT; 2026
UPDATE
A decedent's will provided that the estate was divided among
the decedent's heirs per stirpes and not per capita. If there are
two surviving children and three grandchildren who are the
children of a predeceased child at the time the will is probated,
how will the estate be divided? - correct answer- 1/3 will go
to each surviving child and 1/9 will go to each grandchild (it is
1/3 that would have go to the deceased mother split up among
them)
A man and a woman are married, and have NO children, the
man's parents are alive. If the man dies without a will who
inherits? - correct answer- The wife receives the first
$60,000 plus 1/2 of the balance of the probate estate. The
surviving parents will receive the other 1/2.
A man and a woman are married, and have NO kids, the man's
parents are deceased. The man dies without a will who will
inherit? - correct answer- The wife will inherit everything
,A man and a woman are married, they have kids. It does not
matter if the parents are alive or not. If the man dies without a
will who will inherit? - correct answer- The wife receives the
first $60,000 plus 1/2 the balance of the probate estate, and the
biological children receive the other 1/2.
A man and woman are married and there is one child from the
man's previous marriage, if the man dies without a will who will
inherit? - correct answer- The wife inherits 1/2 of the
probate estate (without the first $60,000) and the child receives
the other 1/2 of the probate estate.
Airplane ethics example - correct answer- when switching
plans the announcer said "if you are going to _____ you don't
have to get off this plane is going there too" but Sanford saw a
struggling mother and offered to help them. The flight attendant
saw what he had done and upgraded him to first class for the
following flight.
all of us should let our actions be guided by the following three
principals: - correct answer- -follow the golden rule
-understand that ultimately our business will reap what we sow
-the character of our employees matters, thus, the timeless
values of honesty, decency, fairness, trust, responsibility,
respect, caring and honor matter in our business
,appointment of directors - correct answer- once a corporate
charter is obtained, temporary directors (normally appointed by
the promoter) have a meeting to authorize the selling of the
stock. The number of directors will depend on state law and the
corporation by-laws.
are shareholders involved with management - correct answer-
they are not involved with management of the corporation, they
do not elect officers.
are trusts for tax or nontax purposes? - correct answer- in
general a trust is a separate legal entity for both tax and nontax
purposes.
belize and international law - correct answer- they publicly
shame their criminals, thus less people commit crime
buckle employee inner voice example - correct answer-
There was a guy that worked at buckle and a woman walked in,
something told him he needed to go talk to her and he asked her
what she was doing and if she was looking for anything and then
she said no and left. the came back in and the guy talked to her
again, this time the woman said that she just felt like she was
, supposed to be there. it turned out that she was his biological
mother.
business management in the old days - correct answer- in
the old days business managers were taught to manage the
business to maximize profits only, and if you did not do this you
would lose out in the business competitive market.
business management today - correct answer- today the
smart business manager manages with an eye on the triple
bottom line, this way you act ethically and promote
sustainability.
canada and international law - correct answer- going 50
kilometers over the speed limit is a $10,000 fine, loss of car, plus
lose driver's liscense for 3 years.
Colombia and international law - correct answer- against the
law to get an abortion
corporate directors and management - correct answer- the
right to manage the corporation is vested in the board of
directors. although the directors are elected by the
shareholders, the directors have a right to manage the
