BUS 201 FINAL EXAM QUESTIONS WITH ACCURATE
ANSWERS
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 corporation
independent of any direct shareholder influence. if shareholders don't like the
way the directors are managing the corporation, the shareholders simply elect
new directors.
costa rica and international law correct answer the constitution has forbidden a
standing army since 1949
ANSWERS
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 corporation
independent of any direct shareholder influence. if shareholders don't like the
way the directors are managing the corporation, the shareholders simply elect
new directors.
costa rica and international law correct answer the constitution has forbidden a
standing army since 1949
