Test Bank For The Legal Environment of Business 11th Edition By Roger E. Meiners

Chapter 1

Today’s Business Environment: Law and Ethics

TEST BANK

1. Which of these issues may impact a company’s operations?
2. International issues
3. political issues
4. ethical issues
5. legal issues
6. all of these issues can impact operations

ANSWER:  e  (page 3-4)

National:  AACSB Analytic; Diversity; AICPA BB-Legal

2. Which area of law is most likely to impact directly the finance and accounting departments of a company?
3. products liability
4. employment discrimination
5. credit regulation
6. environmental law
7. all of these are likely to impact about the same

ANSWER:  c  (page 3)

National:  AACSB Analytic; AICPA BB-Legal

3. Which is generally recognized as the best (most correct) definition of law?
4. a body of rules of action or conduct prescribed by controlling authority, and having binding legal force
5. that which must be obeyed and followed by members of a society subject to sanctions or legal consequences
6. the circumstances in which the public force is brought to bear through the courts
7. a rule of conduct that justifies a prediction that it likely will be enforced by the courts if its authority is challenged
8. all of the other choices are correct; there is no one agreed-upon best definition