Cengage Advantage Books Business Law Text and Exercises 6th Edition By Roger LeRoy Miller – Test Bank
Chapter 1: Introduction to the Law and Our Legal System
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N.B.: TYPE indicates that a question is new, modified, or unchanged, as follows.
N A question new to this edition of the Test Bank. + A question modified from the previous edition of the Test Bank, = A question included in the previous edition of the Test Bank. |
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TRUE/FALSE QUESTIONS
- There is really no reason to be acquainted with business laws and government regulations, except to pass this test.
ANSWER: F PAGE: 2 type: =
NAT: AACSB Reflective AICPA Critical Thinking
- Law consists of enforceable rules governing relationships among individuals and between individuals and their society.
ANSWER: t PAGE: 2 type: =
NAT: AACSB Analytic AICPA Legal
- Businesspersons are expected to make decisions that are ethically sound.
ANSWER: T PAGE: 3 type: N
- Whether financial statements created by an accountant need to be verified for accuracy is not a legal question.
ANSWER: F PAGE: 4 type: N
NAT: AACSB Reflective AICPA Critical Thinking
- Considering ways to raise capital so that a business can grow does not involve legal questions.
ANSWER: F PAGE: 4 type: N
NAT: AACSB Reflective AICPA Critical Thinking
- Choosing an appropriate business organizational form does not involve legal questions.
ANSWER: F PAGE: 4 type: N
NAT: AACSB Reflective AICPA Critical Thinking
- Common law is a term for law that is common throughout the world.
ANSWER: F PAGE: 5 type: =
NAT: AACSB Analytic AICPA Legal
- Common law is a term for the laws that are familiar to most of us.
ANSWER: F PAGE: 5 type: =
NAT: AACSB Analytic AICPA Legal
- A court may depart from a precedent if the precedent is no longer valid.
ANSWER: T PAGE: 5 TYPE: +
NAT: AACSB Analytic AICPA Critical Thinking
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