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Study Resources (Business Management)

121.The approximate percentage of private sector wage and salary workers who belong to a union today is: a.7. b.15. c.26. d.34. 122.Which of the following is not one of the major federal labor statutes? a.The Norris-LaGuardia Act b.The National Labor Relations Act c.The Labor-Management Relations Act d.The Labor-Management Fair Bargaining Act e.The Labor-Management Reporting and Disclosure Act 123.Which of the following.
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11.The agent owes the duty of accountability to the principal. 12.The principal has a duty to compensate any agent, including a gratuitous agent. 13.The principal generally owes the agent the reasonable value of the agent’s services if the compensation has not been set by agreement of the principal and agent. 14.If the agency.
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111.Mark is the treasurer of Sky-Hi-Tech Corporation and, as such, he is responsible for protecting he assets of the corporation.  One of Mark’s subordinates, Jill, is in charge of reconciling the monthly corporate bank statements.  Over a period of several months, Jill embezzles a large amount of money from Sky-Hi-Tech,.
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101.The degree to which an agent disclosed the agency relationship affects: a.The agent’s liability on a contract that the agent negotiates. b.The agent’s liability for a tort committed by the agent. c.The principal’s liability for a tort committed by the agent. d.The principal’s liability on a contract that the agent negotiates. e.All of the above. 102.The.
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31.Rule 10b-5, which prohibits securities fraud, applies only to the securities of companies listed on the major stock exchanges. 32.Companies that are covered under the Securities Exchange Act of 1934 are subject to ongoing filing requirements even if they are not making new offerings of securities. 33.Any company with assets of more.
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31.If a textbook publisher acquired a paper mill, it would be a backward vertical merger. 32.The Clayton Act governs tying arrangements involving goods only. 33.Where quality control of products is an issue, tying arrangements can be legal. 34.The cost justification defense to price discrimination applies only to the cost of manufacture, not to.
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Chapter 19 TRUE/FALSE QUESTIONS 1.An agency relationship is created by the mutual consent of a principal and an agent. 2.A principal-agent relationship is formed when an employer hires an employee and pays that employee a salary. 3.The party who agrees to act on behalf of another is called the agent. 4.A welder on an assembly.
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11.              Equitable remedies such as issuing injunctions and granting fictional seniority can be granted, at the discretion of the court, to a successful plaintiff in a Title VII action. 12.              In National Association for the Advancement of Colored People v. Town of Harrison, New Jersey, the appellant court held that the.
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MULTIPLE CHOICE QUESTIONS—LEGAL CONCEPTS 71.Agency always requires:                                         Both an agent and principal who are adults.                                         A written contract.                                          Consideration on the part of both the principal and the agent.                                         An identified underlying transaction.                                         Intent by both the principal and agent to be in the arrangement. 72.The primary function of an agent in.
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11.              Improvements to previously patented machines can be patented. 12.              In order to bring the U.S. Patent laws in harmony with the systems of the majority of developed nations, Congress changed the legal life of a patent from 17 to 20 years. 13.              Living material can be patented under U.S. patent law. ] 14.             .
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55.Which of the following is not available to a plaintiff in a copyright infringement case? a.The profits made by the infringer b.Destruction of the infringing works c.Actual damages d.Statutory damages from $200 to $100,000 in place of actual damages e.An order denying the infringer’s ability to obtain copyright protection for other works for a fixed.
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45.What best describes the public use doctrine relative to patents? a.Patent protection is lost if the patented item becomes used by the public after the patent is granted. b.Patents will not be granted for items that have been used by the public for more than one year before the patent application was.
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21.Under the Noerr doctrine two or more persons may petition the government to enact laws or take other action without violating the antitrust laws. 22.To be liable for a Section 2 violation of the Sherman Antitrust Act, there must be concerted action between two or more firms. 23.In a Sherman Act Section.
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Chapter 21 TRUE/FALSE QUESTIONS 1.Antitrust laws on the state and federal levels limit anticompetitive behavior in almost all industries, businesses, and professions operating in the United States. 2.The Robinson-Patman Act was the first antitrust law enacted in the United States. 3.The first antitrust laws were passed in the late 1800s. 4.The aggressiveness with which antitrust.
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81.A principal gives an agent express authority to “get his car running right.”  The authority that the agent has to enter into contracts for the purchase of auto parts is: a.Apparent authority. b.Authority by estoppel. c.Inherent authority. d.Express authority. e.Implied authority. 82.Which of the following is not one of the common types of agent authority? a.Apparent b.Implied c.Actual d.Dependent e.Agency by.
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11.Reasonable restraints of trade are lawful under the rule of reason. 12.A party acting alone can be liable for anticompetitive activities under Section 1 of the Sherman Act. 13.A vertical restraint of trade occurs when two or more competitors at the same level of distribution enter into a contract, combination, or conspiracy.
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101.Which of the following describes a shareholder’s preemptive rights? a.The right to purchase shares of another shareholder pursuant to a buy-and-sell agreement b.The right to purchase a pro-rata portion of any additional shares issued by the corporation c.The right of shareholders to override actions of the board of directors d.The right of shareholders to.
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91.The bankruptcy of which party(ies) will cause an agency to terminate? a.The principal only b.The agent only c.Either the principal or the agent d.Neither the principal nor the agent 92.If the law changes such that the actions called for in an agency arrangement become illegal after the agency has been carried on legally for some.
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54.Which of the following is not one of the time period classifications used to limit the activities that an issuer may engage in during the registration process?                                         Prefiling period                                         Waiting period                                          Initial offering period                                         Posteffective period 55.Under the Securities Act of 1933, which of the following is true about activities of.
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21.              A legitimate merit test is a valid defense to a Title VII discrimination claim. 22.              Although it remains valid law, the Civil Rights Act of 1866 serves no function today because of the greater remedies provided under Title VII of the Civil Rights Act of 1964. 23.              The Civil Rights Act.
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11.An issuer can send annual reports to existing shareholders during the prefiling period for a new offering of securities. 12.Issuers can place tombstone ads during the waiting period. 13.Under the Securities Act of 1933, at the latest, a final prospectus must be provided to a purchaser of securities by the time the.
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74.Under Rule 10b-5, an insider with material nonpublic information: a.May sue the corporation to make a profit by buying or selling that company’s stock. b.Must disclose the information. c.Must either abstain from trading in that company’s stock or disclose the information to the person he is trading with. d.Must abstain from trading in any.
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31.              The Older Workers Benefit Protection Act prohibits age discrimination with regard to employee benefits. 32.              Title I of the ADA requires employers to make reasonable accommodations to individuals with disabilities. 33.              Whether an accommodation is “reasonable” under the Americans with Disabilities Act does not depend on the employer’s size or financial.
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21.No more than 35 nonaccredited investors may purchase securities pursuant to a private placement exemption. 22.Securities issued by municipalities do not need to be registered pursuant to the Securities Act of 1933. 23.Securities that are exempt are exempt forever. 24.There is no provision for criminal liability under the Securities Act of 1933. 25.The purchaser’s.
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31.One characteristic of independent contractors is that they cannot enter into contracts on behalf of the principal. 32.The most important factor in deciding whether someone is an employee or an independent contractor is the length of time the person has worked for the principal. 33.If a principal asserts little control over the.
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TRUE/FALSE QUESTIONS 1.The surface rights and the subsurface rights for the same parcel of real property can be owned by two different persons. 2.In theory, mineral rights to land can extend to the center of the earth. 3.In order for fixtures to be included in a sale of a building, the contract must.
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  MULTIPLE CHOICE QUESTIONS—LEGAL CONCEPTS 44.Which of the following is true about the 1933 and 1934 securities acts? a.The 1934 Act superseded the 1933 Act and covers all aspects of securities issuance and trading. b.The 1933 Act covers securities listed on stock exchanges, and the 1934 Act covers nonlisted securities. c.The 1933 Act covers the.
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47.Which of the following is true about sexual harassment in the workplace? a.If a supervisor approaches someone and asks that person out for a social date, and if the supervisor acts in socially customary manner, it will not be sexual harassment. b.The standards for a hostile work environment are extremely vague and.
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MULTIPLE CHOICE QUESTIONS—LEGAL CONCEPTS 42.The primary source of the antitrust laws is: a.The United States Constitution. b.The Uniform Commercial Code. c.The Federal Trade Commission. d.Federal Statutes. e.Common law. 43.Which of the following is not one of the antitrust statutes? a.The Sherman Act b.The Clayton Act c.The Federal Trade Commission Act d.The Fair Competition Regulation Act e.The Robinson-Patman Act 44.The antitrust laws were passed.
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51.It is illegal for workers to strike if there is a no strike clause as part of a negotiated agreement. 52.Employers cannot prevent employees from entering the work premises if the employer anticipates a strike. 53.Picketing cannot lawfully prohibit customers from entering the employer’s place of business. 54.Secondary boycott picketing is legal if.
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41.A majority vote wins a union election. 42.If both parties approve, managers can belong to the same union as the employees that they manage. 43.The National Labor Relations Board supervises all elections for union representation. 44.Section 8(a) of the National Labor Relations Act prevents employers from interfering with employees’ rights to form a.
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MULTIPLE CHOICE QUESTIONS—LEGAL CONCEPTS 35.Which of the following would not be a misappropriation of a trade secret? a.Paying an engineer who is working at a competitor to disclose the trade secret to you b.Buying the competitor’s product, then tearing it apart and analyzing it in your laboratory to reveal the trade secret c.Hiring a.
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MULTIPLE CHOICE QUESTIONS 37.The Equal Employment Opportunity Commission has the power to do the following except: a.Pass amendments to the Civil Rights Act of 1964 and other antidiscrimination statutes. b.File suits to enforce antidiscrimination statutes on behalf of complainants. c.Conduct investigations related to the antidiscrimination laws. d.Interpret antidiscrimination statutes. 38.Which of the following are protected classes.
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Chapter 20 TRUE/FALSE QUESTIONS 1.              The Employment Opportunity Commission enforces federal and state antidiscrimination laws. 2.              Title VII federal antidiscrimination laws are enforced by the EEOC. 3.              Undocumented aliens may bring actions for employment discrimination under Title VII. 4.              The antidiscrimination provisions of the Civil Rights Act of 1964 apply to all employers. 5.              The Civil.
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64.Which of the following is not exempt from registration under the Securities Act of 1933? a.Bonds issued by a county government b.Stock issued by a railroad c.Stock issued by a bank d.Stock issued by a service corporation e.Annuity contracts issued by insurance corporations 65.Under the 1933 Securities Act, a person responsible may be held liable for: a.Intentional.
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72.Which of the following actions could be acceptable if the purpose is to prevent a company from going bankrupt? a.Price fixing b.Resale price maintenance c.Price fixing and setting a price floor d.Merger with another firm e.Merger with another firm and resale price maintenance 73.If a paper manufacturer merged with a printing company, it would be a: a.Horizontal.
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Chapter 22 TRUE/FALSE QUESTIONS 1.              The Uniform Trade Secrets Act is a federal statute. 2.              It is acceptable to discover a trade secret by reverse engineering even if the owner of the trade secret has taken all reasonable precautions to prevent discovery of the secret. 3.              For trade secrets to be protected, a business.
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61.The Occupational Safety and Health Act does not apply to government employers. 62.The two types of safety standards under the Occupational Safety and Health Act are specific duty standards and general duty standards. 63.So long as an employer follows the specific safety standards applicable to the particular industry, the employer will not.
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131.Under which of the following circumstances will the NLRB allow the union to hold an election? a.If an election has been held within the last year b.If the employees have a union and a valid contract with the employer c.If the union has engaged in unfair labor practices d.If the union can show that.
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141.Under workers’ compensation, when an employee is accidentally injured on the job: a.A worker can sue the employer in addition to recovering from workers’ compensation, but only if the employer intentionally caused the injury. b.A worker has the choice of whether to file a normal lawsuit or recover from the workers’ compensation.
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21.In a cooperative, an owner owns shares in a corporation that owns the entire building. 22.The owner of a condominium unit also owns the common elements in joint tenancy with the other condominium unit owners. 23.Approximately half the states are community property states. 24.Remainders and remnants are two types of future interests 25.If a.
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21.              In order to be eligible for copyright protection, a tangible writing or other item is required. 22.              In 1998, the length of copyright protection for an individual holder was extended to the life of the author plus 70 years. 23.              The fair use doctrine allows limited public use of copyrighted material.
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52.Both Lemon Light, Inc., and Orange Mist Corporation are soft drink distributors in Capital City.  The soft drink business is highly competitive, profit margins are razor thin, and both companies are on the brink of bankruptcy.  To save themselves, they agree to not sell soft drinks at a price below.
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Chapter 18 TRUE/FALSE QUESTIONS 1.All law dealing with securities is on the federal level. 2.A Securities and Exchange Commission regulation prohibits the sale of securities online. 3.The SEC is composed of five members who are appointed by the president. 4.The Securities and Exchange Commission was created as part of the Securities Exchange Act of 1934. 5.A.
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111.Under which circumstance will a principal not be responsible for the tort of the agent? a.If the agent was violating the instructions of the principal in committing the tort b.If the agency agreement between the agent and principal says that the principal will not be responsible for the agent’s torts c.If the tort.
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62.Arlee owns a fast food franchise.  He purchases his supplies from various distributors around the area.  Arlee’s soft drink distributor decides not to deal with Arlee anymore, because Arlee is too demanding and always pays his bills late.  Several other distributors individually reach the same decision.  This action is: a.Legal, because.
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