Cengage Advantage Books Business Law Text and Exercises 7th 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: =
BUSPROG: Reflective LO: 1-1 Bloom’s:Knowledge
DIF:Easy AICPA: BB-Critical Thinking
- Law consists of enforceable rules governing relationships among individuals and between individuals and their society.
ANSWER: t PAGE: 2 type: =
BUSPROG:Analytic LO: 1-1 Bloom’s:Knowledge
DIF:Easy AICPA: BB-Legal
- Many different laws may apply to a single business transaction.
ANSWER: T PAGE: 3 TYPE: N
BUSPROG:Analytic LO: 1-1 Bloom’s:Comprehension
DIF:Easy AICPA: BB-Critical Thinking
- Businesspersons are expected to make decisions that are ethically sound.
ANSWER: T PAGE: 3 type: =
BUSPROG:Analytic LO: 1-1 Bloom’s:Knowledge
DIF:Easy AICPA: BB-Legal
- Being a small-business owner means that you will never have to take on the role of finance manager, marketing manager or accountant.
ANSWER: F PAGE: 4 TYPE: N
BUSPROG:Reflective LO: 1-1 Bloom’s:Knowledge
DIF:Easy AICPA: BB-Critical Thinking
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