Test Bank for Business Law Text and Exercises 9th.pdf

Test Bank for Business Law: Text and Exercises 9th
Edition Miller




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, 1. Law consists of enforceable rules governing individuals and their society.
a. True
b. False
ANSWER: True

2. Laws and government regulations affect almost all business activities.
a. True
b. False
ANSWER: True

3. Business people do not need to understand court processes because if they are sued, the lawyers will know those rules.
a. True
b. False
ANSWER: False

4. The study of business law does not involve an ethical dimension.
a. True
b. False
ANSWER: False

5. Being a small-business owner means that you will never have to take on the role of a human resources manager.
a. True
b. False
ANSWER: False

6. Raising additional capital so that a business can grow is a strategy problem and not a legal issue.
a. True
b. False
ANSWER: False

7. Small business owners are company leaders who do not have to deal with management issues and understand the
detailed laws.
a. True
b. False
ANSWER: False

8. Precedents are court decisions that guide future legal decisions to create stability and predictability.
a. True
b. False
ANSWER: True

9. A small business owner is likely to face legal questions when determining ways to reduce business taxes.
a. True
b. False
ANSWER: True

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