Test Bank for Business Law Text and Cases 15th Edition

Test Bank for Business Law 15th Edition
Clarkson / All Chapters 1 - 51 / Full Complete 2023 -
2024 Test Bank for Business Law 15th Edition
Clarkson / All Chapters 1 - 51 / Full Complete 2023 -
2024
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,DOWNLOAD THE Test Bank for Business Law Text and Cases 15th
Edition
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1 : In the United States, the law consists of written laws and court decisions.
A : true
B : false

Correct Answer : A

2 : The legal rules that control a business’s actions reflect past and current thinking about
how similar businesses should and should not act. A : true
B : false

Correct Answer : A

3 : Because laws may change, the ability to analyze and evaluate the legal ramifications
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of situations as they arise is not a lasting skill. A : true
B : false
ED

Correct Answer : B

4 : The study of business law does not involve an ethical dimension.
A : true
ST

B : false

Correct Answer : B

5 : Compartmentalizing the law into discrete topics indicates that each business transaction
U

is subject to only one specific area of the law. A : true
B : false
D

Correct Answer : B
Y

6 : A constitution is a primary source of law.
A : true
B : false

Correct Answer : A

7 : A statute is a secondary source of law.
A : true
B : false

Correct Answer : B

8 : A secondary source of law establishes the law on a particular issue.


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,DOWNLOAD THE Test Bank for Business Law Text and Cases 15th
Edition
Clarkson
A : true
B : false

Correct Answer : B
9 : Courts often refer to secondary sources of law for guidance in interpreting and applying a
primary source of law.
A : true
B : false

Correct Answer : A

10 : Even if it conflicts with the U.S. Constitution, a state constitution is supreme within that
states’ borders.
A : true
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B : false

Correct Answer : B
ED

11 : The U.S. Constitution is the basis of all law in the United States.
A : true
B : false
ST

Correct Answer : A

12 : Only if a state legislature adopts a uniform law does that law become part of the statutory
law of that state.
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A : true
B : false
D

Correct Answer : A
Y

13 : A citation is a regulation enacted by a city or county legislative body.
A : true
B : false

Correct Answer : B

14 : A local ordinance commonly has to do with a matter concerning only a local governing
unit.
A : true
B : false

Correct Answer : A



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, DOWNLOAD THE Test Bank for Business Law Text and Cases 15th
Edition
15 : A federal statute applies only to those states that agree to apply it within their borders.
A : true
B : false

Correct Answer : B

16 : Congress or a state legislature establishes an administrative agency to perform a
specific function. A : true
B : false

Correct Answer : A
17 : Independent regulatory agencies are not subject to the authority of the president.
ClarksoA : true n
B : false
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Correct Answer : B
ED

18 : Rules issued by administrative agencies affect almost every aspect of a business’s
operations. A : true
B : false

Correct Answer : A
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19 : Federal agency regulations do not take precedence over conflicting state regulations.
A : true
B : false
U

Correct Answer : B
D

20 : Administrative law plays a relatively insignificant role in the regulatory environment of
business.
Y

A : true
B : false

Correct Answer : B

21 : The doctrines and principles announced in court decisions govern all areas not covered by
statutory or administrative law.
A : true
B : false

Correct Answer : A

22 : The common law is a body of law developed from judicial decisions.



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