Test Bank For The Legal Environment of Business 11th Edition By Roger E. Meiners
Today’s Business Environment: Law and Ethics
- Which of these issues may impact a company’s operations?
- International issues
- political issues
- ethical issues
- legal issues
- all of these issues can impact operations
ANSWER: e (page 3-4)
National: AACSB Analytic; Diversity; AICPA BB-Legal
- Which area of law is most likely to impact directly the finance and accounting departments of a company?
- products liability
- employment discrimination
- credit regulation
- environmental law
- all of these are likely to impact about the same
ANSWER: c (page 3)
National: AACSB Analytic; AICPA BB-Legal
- Which is generally recognized as the best (most correct) definition of law?
- a body of rules of action or conduct prescribed by controlling authority, and having binding legal force
- that which must be obeyed and followed by members of a society subject to sanctions or legal consequences
- the circumstances in which the public force is brought to bear through the courts
- a rule of conduct that justifies a prediction that it likely will be enforced by the courts if its authority is challenged
- all of the other choices are correct; there is no one agreed-upon best definition
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