BUL3130 BUSINESS LAW AND ETHICS - 578762 | UPDATED
Questions with 100% Verified Answers
Question: Article I of the Constitution deals with _____.
Answer:
legislative powers
Question: The historical school of law _____.
Answer:
believed that precedent would be more important than moral arguments
Question: The _____ clause of the Fifth Amendment ensures that the government does not take private
property without just compensation.
Answer:
takings
Question: In Gonzalez v. Raich, which of the following was an argument made by the majority in the Supreme
Court?
Answer:
The ban was a part of the act to regulate the national marijuana market.
Question: An individual or a company may challenge agency action where such action is _____:
Answer:
unwarranted by the facts
Question: In an adjudication:
Answer:
the judge is not free to say that the case is unimportant and that he therefore will ignore it.
Question: Which of the following is true about a free market?
Answer:
The free market in actual terms consists of commerce legally constrained by what is economically desirable and
by what is socially desirable as well.
Question: _____ states that anyone wishing to appeal an agency action must wait until the agency has taken
final action.
, Answer:
The exhaustion of administrative remedies
Question: Intermediate appellate courts:
Answer:
have been established in 40 states
Question: Which of the following statements about subject matter jurisdiction is true?
Answer:
In diversity cases, state law will be used as the basis for a determination of legal rights and responsibilities.
Question: When the limited liability company (LLC) is manager managed, _____.
Answer:
only managers have the legal authority to bind the firm
Question: _____ are individuals who take the steps necessary to form the corporation, and they often will
receive stock in exchange for their efforts.
Answer:
Promoters
Question: Delta Inc., a large private corporation that deals in the manufacturing of car engines, is listed in the
national stock exchange and has about 1,000 shareholders. The shareholders are allowed to freely transfer their
interest in shares with the help of the stock exchanges and are eligible certain dividends based on the number of
shares they hold. It can be said that Delta Inc. is a _____ corporation.
Answer:
publicly held
Question: A _____ is a corporation whose owners elect to have it treated as partnership for tax purposes.
Answer:
S corporation
Questions with 100% Verified Answers
Question: Article I of the Constitution deals with _____.
Answer:
legislative powers
Question: The historical school of law _____.
Answer:
believed that precedent would be more important than moral arguments
Question: The _____ clause of the Fifth Amendment ensures that the government does not take private
property without just compensation.
Answer:
takings
Question: In Gonzalez v. Raich, which of the following was an argument made by the majority in the Supreme
Court?
Answer:
The ban was a part of the act to regulate the national marijuana market.
Question: An individual or a company may challenge agency action where such action is _____:
Answer:
unwarranted by the facts
Question: In an adjudication:
Answer:
the judge is not free to say that the case is unimportant and that he therefore will ignore it.
Question: Which of the following is true about a free market?
Answer:
The free market in actual terms consists of commerce legally constrained by what is economically desirable and
by what is socially desirable as well.
Question: _____ states that anyone wishing to appeal an agency action must wait until the agency has taken
final action.
, Answer:
The exhaustion of administrative remedies
Question: Intermediate appellate courts:
Answer:
have been established in 40 states
Question: Which of the following statements about subject matter jurisdiction is true?
Answer:
In diversity cases, state law will be used as the basis for a determination of legal rights and responsibilities.
Question: When the limited liability company (LLC) is manager managed, _____.
Answer:
only managers have the legal authority to bind the firm
Question: _____ are individuals who take the steps necessary to form the corporation, and they often will
receive stock in exchange for their efforts.
Answer:
Promoters
Question: Delta Inc., a large private corporation that deals in the manufacturing of car engines, is listed in the
national stock exchange and has about 1,000 shareholders. The shareholders are allowed to freely transfer their
interest in shares with the help of the stock exchanges and are eligible certain dividends based on the number of
shares they hold. It can be said that Delta Inc. is a _____ corporation.
Answer:
publicly held
Question: A _____ is a corporation whose owners elect to have it treated as partnership for tax purposes.
Answer:
S corporation
