M06: Business Law
Study online at
https://quizlet.com/_c2himf
1. A whistleblower is an employee who publicly reveals a co-worker's
unsafe or illegal activity.: False
2. The primary document needed to incorporate a business is the
articles of incorporation because the articles serve as a primary source
of authority for the firm's organization and functions.: True
3. Devon takes temporary family leave from her job at Equipment Sales
Com-pany to care for a newborn baby. With respect to Devon's health-
care cover-age, during the leave, under the Family and Medical Leave
Act, Equipment: - Must continue it
4. Like the partners in a partnership, the shareholders in a corporation
cannot change without affecting the continued existence of the firm.:
False
5. An express employment contract cannot protect an employee
from dis-charge without good cause.: False
6. During an employee's leave under the Family and Medical Leave
Act, an employer must continue to compensate the employee to avoid
the potential negative effect of unpaid leave on interstate commerce.:
False
7. Oil Industries Inc. is a private, for-profit corporation that is owned by
five shareholders who are members of the same family. Po, the
majority share-holder, misappropriates company funds. The
shareholders whose interests are injured by Po's misconduct should: have their
shares appraised and be paid the fair market value for them
8. Lin is an employee at Manufacturing Plant Inc. Lin is called for jury
duty and as a result cannot work her scheduled shift. The plant fires
Lin, who subsequently successfully sues her employer for
reinstatement. With respect to the employment-at-will doctrine, this is: an
exception based on public policy
9. If the members of a limited liability company want to reinvest profits
in the business, they may opt for the firm to be taxed as a corporation.:
True
10. In many instances, agency law governs the relationships among
partners.-
: True
11. Nevis and Olsen want to do business as a corporation—Pastries
& Pies Inc. The procedure for forming this firm is prescribed by: State law
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3
Study online at
https://quizlet.com/_c2himf
1. A whistleblower is an employee who publicly reveals a co-worker's
unsafe or illegal activity.: False
2. The primary document needed to incorporate a business is the
articles of incorporation because the articles serve as a primary source
of authority for the firm's organization and functions.: True
3. Devon takes temporary family leave from her job at Equipment Sales
Com-pany to care for a newborn baby. With respect to Devon's health-
care cover-age, during the leave, under the Family and Medical Leave
Act, Equipment: - Must continue it
4. Like the partners in a partnership, the shareholders in a corporation
cannot change without affecting the continued existence of the firm.:
False
5. An express employment contract cannot protect an employee
from dis-charge without good cause.: False
6. During an employee's leave under the Family and Medical Leave
Act, an employer must continue to compensate the employee to avoid
the potential negative effect of unpaid leave on interstate commerce.:
False
7. Oil Industries Inc. is a private, for-profit corporation that is owned by
five shareholders who are members of the same family. Po, the
majority share-holder, misappropriates company funds. The
shareholders whose interests are injured by Po's misconduct should: have their
shares appraised and be paid the fair market value for them
8. Lin is an employee at Manufacturing Plant Inc. Lin is called for jury
duty and as a result cannot work her scheduled shift. The plant fires
Lin, who subsequently successfully sues her employer for
reinstatement. With respect to the employment-at-will doctrine, this is: an
exception based on public policy
9. If the members of a limited liability company want to reinvest profits
in the business, they may opt for the firm to be taxed as a corporation.:
True
10. In many instances, agency law governs the relationships among
partners.-
: True
11. Nevis and Olsen want to do business as a corporation—Pastries
& Pies Inc. The procedure for forming this firm is prescribed by: State law
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