Sophia Business Law Milestone 1 Exam Q’s
and A’s (Unit 1 Milestone 1)
A 33-year-old business owner is put on trial for negligence. When in his trial
process does voir dire occur? - -At the beginning, as part of jury selection
-Select the true statement about administrative law. - -The authority for
administrative law at the federal level comes from Congress.
-The CEO of Oil Company X is dismayed to learn that oil has been leaking
from one of its off-shore rigs into the Gulf of Mexico for the last five years. In
deciding how to proceed, the company identifies a range of stakeholders,
considers how different courses of action would impact each stakeholder,
and determines which core values each decision would satisfy. According to
the Josephson's core values model for ethical decision-making, what should
Company X do next? - -Choose the course of action that is most likely to
promote the greatest number of core values.
-Which of the following is an example of a limited partnership? - -Maria
agrees to invest some of her college savings in her sister's natural skin care
company, but she doesn't want to risk losing more than she invested. Maria
and her sister sign a partnership agreement that protects Maria from further
accountability.
-Select the example in which a corporation is making use of a safe harbor
provision. - -A corporation that hosts user-uploaded videos online reports a
copyright infringement to federal authorities and removes the copyrighted
video from its website in order to reduce liability.
-Mediation is a __________ form of alternative dispute resolution. - -
voluntary, non-binding
-Select the true statement about the relationship between law, ethics, and
business. - -Ethical business practices and conduct generate goodwill that
can be measured in the monetary value of a business.
-Alongside the states, the federal government increasingly governs which
area of law? - -Environmental law
-The CEO of a multinational retail corporation has decided to raise the
minimum wage for its U.S. employees to three times the current federal
minimum wage. The CEO explains that the company needs to provide its
employees a living wage, regardless of what the law requires. According to
Milton Friedman, did the corporation fulfill its duty? - -No, because the wage
and A’s (Unit 1 Milestone 1)
A 33-year-old business owner is put on trial for negligence. When in his trial
process does voir dire occur? - -At the beginning, as part of jury selection
-Select the true statement about administrative law. - -The authority for
administrative law at the federal level comes from Congress.
-The CEO of Oil Company X is dismayed to learn that oil has been leaking
from one of its off-shore rigs into the Gulf of Mexico for the last five years. In
deciding how to proceed, the company identifies a range of stakeholders,
considers how different courses of action would impact each stakeholder,
and determines which core values each decision would satisfy. According to
the Josephson's core values model for ethical decision-making, what should
Company X do next? - -Choose the course of action that is most likely to
promote the greatest number of core values.
-Which of the following is an example of a limited partnership? - -Maria
agrees to invest some of her college savings in her sister's natural skin care
company, but she doesn't want to risk losing more than she invested. Maria
and her sister sign a partnership agreement that protects Maria from further
accountability.
-Select the example in which a corporation is making use of a safe harbor
provision. - -A corporation that hosts user-uploaded videos online reports a
copyright infringement to federal authorities and removes the copyrighted
video from its website in order to reduce liability.
-Mediation is a __________ form of alternative dispute resolution. - -
voluntary, non-binding
-Select the true statement about the relationship between law, ethics, and
business. - -Ethical business practices and conduct generate goodwill that
can be measured in the monetary value of a business.
-Alongside the states, the federal government increasingly governs which
area of law? - -Environmental law
-The CEO of a multinational retail corporation has decided to raise the
minimum wage for its U.S. employees to three times the current federal
minimum wage. The CEO explains that the company needs to provide its
employees a living wage, regardless of what the law requires. According to
Milton Friedman, did the corporation fulfill its duty? - -No, because the wage
