Cengage Advantage Books Business Law Text And Cases The First Course 13th Edition By Roger LeRoy Miller – Test Bank

Chapter 1: Law and Legal Reasoning

TRUE/FALSE QUESTIONS

B1.      Laws and government regulations affect almost all business activities.

      ANSWER:     T                               PAGES:   Introduction

BUSPROG: Analytic                                AICPA: BB-Legal

B2.      The U.S. Constitution is the basis of all laws in the United States.

ANSWER:     T                               PAGES:   Section 2

BUSPROG: Analytic                                AICPA: BB-Legal

B3.      The U.S. Constitution reserves to the federal government all powers not granted to the states.

ANSWER:     F                               PAGES:   Section 2

BUSPROG: Analytic                                AICPA: BB-Critical Thinking

B4.      The Uniform Commercial Code has been adopted in all fifty states.

   ANSWER:     T                               PAGES:   Section 2

BUSPROG: Reflective                             AICPA: BB-Critical Thinking

B5.      Federal agency regulations take precedence over conflicting state agency regulations.

        ANSWER:     T                               PAGES:   Section 2

BUSPROG: Analytic                                AICPA: BB-Legal

B6.      Common law is a term for the laws that are familiar to most of us.

ANSWER:     F                               PAGES:   Section 3

BUSPROG: Analytic                                AICPA: BB-Critical Thinking

B7.      Decisions by higher courts are not binding on lower courts.

    ANSWER:     F                               PAGES:   Section 3

BUSPROG: Analytic                                AICPA: BB-Legal