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Study Resources (Business Management)

  108.According to the text, what are three criticisms of arbitration when compared to traditional litigation?  109.Jackie is hiring Ron to do clean up and maintenance as an independent contractor for her building which has several tenants. She is aware that Ron has sued some previous building owners. He does a good.
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  71. _____, a category of cash flow, is calculated from changes in the long-term or fixed asset accounts.  A. Cash from profiteering activities B. Cash from investing activities C. Cash from financing activities D. Cash from operating activities E. Cash from marketing activities 72. _____, a category of cash flow, is calculated from changes in the long-term liability accounts and the contributed capital.
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  True / False Questions 1. Money is a medium of exchange. 2. Certificates of deposit are accounts with funds that usually cannot be withdrawn without advance notice and/or have limits on the number of withdrawals per period. 3. When the Federal Reserve Board (the Fed) buys securities, it decreases the money in circulation. 4. A.
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  71. The _____ insures individual bank accounts.  A. Federal Savings and Loan Insurance Corporation B. Federal Deposit Insurance Corporation C. National Credit Union Administration D. Federal Reserve Board E. New York Federal Reserve Bank 72. Nonbanking institutions differ from banking institutions in that they:  A. offer long-term loans. B. offer investment products. C. include credit unions. D. do not accept deposits. E. do not offer short-term loans. 73. _____ are businesses that protect their clients.
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  94.A court acquires in personam jurisdiction over the plaintiff when:  A.Service of process is issued. B.Plaintiff is given a copy of the complaint by the court. C.Plaintiff files a lawsuit with the court. D.Defendant files an answer. E.Plaintiff is injured within the state's border. 95.Venue is determined by:  A.State statute. B.The trial judge. C.The jury. D.U.S. Constitution. E.Case law. 96.The federal court.
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  11. Astute money managers try to keep just enough cash on hand to pay employee wages and utility bills. This cash is referred to as:  A. long-term assets. B. marketable securities. C. transaction balances. D. retained earnings. E. secured bonds. 12.  As idle cash does not make money, a manager may choose to invest this extra cash in temporary investments called:   A. .
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  True / False Questions 1.A court must have several types of jurisdiction to decide any particular case.  2.In rem jurisdiction references jurisdiction over a person subject to an order of guardianship.  3.Under federal statutory law Internet transactions cannot be the basis for a finding of in personam jurisdiction.  4.Subject-matter jurisdiction is a court's power.
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  21. Coins are used primarily to provide:  A. acceptability. B. inimitability. C. divisibility. D. stability. E. portability. 22. Stan's sister tells Stan that the number of toffees she could buy for a dollar when she was his age was greater. Stan's sister is referring to the _____ of money.  A. acceptability B. inimitability C. divisibility D. stability E. portability 23. When inflation is very high, money loses its _____.  A. stability B. portability C. durability D. divisibility E. acceptability 24. In some countries with very high inflation.
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  Essay Questions 81.List the purposes of the law and discuss why these purposes are necessary for an ordered society. 82.Define the meaning of the term "stare decisis," discuss when it occurs in the legal system, and why this is needed in business. 83.Explain in what ways a treaty between a foreign country and.
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  81. A nonbanking financial institution that buys and sells stocks, bonds, and other securities for its customers is called a(n):  A. finance company. B. credit union. C. mutual savings bank. D. brokerage firm. E. thrift bank. 82. A(n) _____ underwrites new issues of securities for corporations, states, and municipalities needed to raise money in the capital markets.  A. private accountant B. cashier C. investment banker D. certified public accountant E. certified management accountant 83. Finance.
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  41. Why are credit cards a popular substitute for cash payments?  A. They provide tax benefits. B. They exempt users from paying transaction fees to merchants. C. They allow users to avail interest-free credit. D. They allow merchants to avail unlimited credit. E. They are accepted by merchants around the world. 42. A debit card:  A.   provides a hard "paper trail." B. allows cardholders to pay.
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  Essay Questions 101.Define the term "in personam" jurisdiction, discuss where corporations are generally subject to that type of jurisdiction, and discuss long-arm jurisdiction.  102.Alice, a resident of Michigan, claims that Pet Food Company Inc. put out some dog food that made her dog, Champ, sick. Champ is a prize-winning poodle. He survived.
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  31.Which of the following involves remedies available to an individual when his or her rights are violated? A.Civil law B.Resolution law C.Procedural law D.Civil law and procedural law, but not criminal law E.Civil law, criminal law, and procedural law 32.If someone commits an act against the public, they will be violating what type of law? A.Civil law B.Criminal.
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  21.Courts are generally critical and unsupportive of ADR methods.  22.A person must be a lawyer in order to serve as an arbitrator.  23.An arbitrator is more likely to issue a compromise decision than a judge.  24.Med-arb is a type of ADR method.  25.Early neutral case evaluation provides a binding ruling by a neutral.  26.The defendant.
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  44.For purposes of diversity-of-citizenship, where does a corporation reside?  A.The state of incorporation only. B.The state in which the corporation has its principal place of business only. C.Both the state in which the corporation has its principal place of business and the state of incorporation. D.Any state in which the corporation does business. E.Any state.
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  51. The board of directors of a leading automobile company wants to opt for an investment project that has the least risk. Which of the following projects is the board most likely to undertake?  A. Introducing a new car in a new market B. Expanding their automobile business into a new market C. Repairing the old manufacturing.
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  True / False Questions 1.Ethics is the study and practice of decisions about what is good or right.  2.Ethical conversation is primarily about finding the one and only right thing to do.  3.There is only one correct answer for each ethical dilemma.  4.An ethical dilemma has no clear, right decision.  5.A business decision can be.
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  11.Judicial decisions are law unless they are revoked later by new statutory law. 12.The term "stare decisis" means "reversing the decision." 13.The purpose of stare decisis is to create greater predictability for businesses and individuals. 14.Stare decisis is a legal principle that rulings made by higher courts are binding on lower courts in.
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  51. When the Federal Reserve Board sells government securities, the:  A. money supply in the economy decreases. B. money supply in the economy increases. C. property taxes increase. D. property taxes decrease. E. money supply in the market becomes stable. 52. Which of the following effects is seen on the money supply and the economy when the Federal Reserve Board raises the discount.
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  51.The term ______ involves the use of past decisions to guide future decisions. A.commonality B.precedent C.restatement D.uniformity E.modeling 52.The ______ is a significant body of law to business activities including sales, banking, and warranty. A.Federal Business Code B.Model Business Code C.Uniform Transactional Model D.Uniform Commercial Code E.Marketing Transaction Code 53.When courts rely on precedent, they are obeying ______. A.common analysis B.res judicata C.stare decisis D.in rem.
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  11. When money serves as a way to accumulate wealth, money primarily functions as a:  A. yardstick of value. B. store of value. C. measure of value. D. medium of exchange. E. counterfeit deterrent. 12.  To be used as a medium of exchange, money must be:   A.  non-portable. B.  durable. C.  imitable. D.  indivisible. E.  flexible. 13. As a medium of exchange, money:  A. makes.
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  61.  The _____ repealed the Glass-Stegall Act, putting U.S. commercial banks on the same competitive footing as European banks.   A.  Sarbanes-Oxley Act B.  Celler-Kefauver Act C.  Dodd-Frank Act D.  Credit CARD Act E.  Gramm-Leach-Bliley Act 62.  Which of the following acts restricted commercial banks from engaging in certain high-risk trading.
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  41.The ______ is the supreme law of the land. A.U.S. Constitution B.Declaration of Independence C.United States Code D.model law E.Uniform Code 42.The United States Constitution and ________ establish the fundamental principles and rules by which the United States and the several states are governed. A.the administrative rules B.the procedural rules C.the constitution of each state D.the bylaws of each state E.both.
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  81. If the dividend of a stock is $20 and its dividend yield is $5, then the price of the stock is:  A. $2 B. $8 C. $4 D. $1 E. $3 82. The first-time sale of stocks and bonds directly to the public is called a:  A. primary sale. B. new issue. C. follow-on offering. D. preliminary bid. E. fresh deal. 83. The markets where firms raise financial capital are known as _____.  A. primary markets B. secondary.
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  11.Executive agencies are cabinet level agencies.  12.The head of a federal executive agency may be discharged by the president for any reason.  13.Independent agencies are governed by a senate committee appointed by the president.  14.There are two types of administrative agencies, executive and independent.  15.The Small Business Administration is an example of an executive.
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  Multiple Choice Questions 34.Which of the following do appellate courts primarily handle?  A.Questions of law B.Questions of fact C.Questions of law and fact D.Cases when they initially enter the legal system E.Questions of law and fact, and also cases when they initially enter the legal system 35.Which of the following is a question of fact?  A.Whether a vehicle.
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  Multiple Choice Questions 21.What do business laws protect? A.All contracts B.Employment decisions C.Payments to suppliers D.Embezzlement E.All contracts, employment decisions, and payments to suppliers 22.Cases involving federal criminal law are prosecuted by: A.State officials B.Private attorneys C.The federal government D.The National Conference of Commissioners E.Congress 23.Local legislative laws are called: A.Codes B.Ordinances C.Model laws D.Executive orders E.Uniform laws 24.A treaty is a binding agreement between: A.States B.International organizations C.Local governments D.States and international.
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  84.Explain the function of administrative agencies and why they are needed. List five independent agencies and five executive agencies. 85.Judge Susie Justice, who is newly appointed to the bench, is presented with a question of law involving a cat named Chester who scratched a neighbor's antique jalopy. The neighbor, George, demands.
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  True / False Questions 1.Business law consists of the suggested rules of conduct that govern commercial relationships. 2.No market transactions occur without legal guidelines. 3.Law is rules of conduct in many organized societies that are enforced by the governing authority of the community. 4.Because of the law, we rely on the goodwill and dependability.
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  41. Long-term assets are also called _____ assets.  A. current B. floating C. unsecured D. fixed E. junk 42. AMZ Inc., a company that deals with bikes, has its own manufacturing unit. The equipment used in the manufacturing unit of the company is an example of a:  A. current asset. B. fixed asset. C. junk bond. D. short-term asset. E. floating-rate bond. 43.  Sprocket and Widget is a garment manufacturing company. Which of the.
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  71.  _____ is the price at which a particular common stock is currently trading.   A.  Beta score B.  Alpha score C.  Par value D.  Market value E.  Capital value 72. Which of the following is called capital in excess of par?  A. The dollar amount printed on the stock certificate B. The difference between a.
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  True / False Questions 1.Administrative law consists of procedural, but not substantive, rules.  2.Administrative agencies are located at the federal level only.  3.Administrative agencies are created by the executive branch to carry out specific duties.  4.Administrative agencies have legislative, executive, and judicial powers.  5.Administrative agencies create more rules than Congress and the courts combined.  6.There is.
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  54.Which of the following is true regarding state courts of appeal?  A.States only have an intermediate court of appeals if there is no state Supreme Court. B.In states that do not have an intermediate court of appeal, appeals go to the federal court of appeals. C.In states that do not have an intermediate.
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  61.The concept of ______ suggests that individuals should have the freedom to disobey a law enacted by people if their conscience goes against the law and they believe the law is wrong. A.legal positivism B.natural law C.legal-realism D.conscience reaction E.None of these 62.Assume a judge writes that she is deciding to enforce a law in question.
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  64.Attorney Candy represents plaintiff Ann who is suing her neighbor for nuisance claiming that the neighbor plays music too late at night. Candy puts Ann on the stand and asks her questions. Candy is involved in which of the following?  A.Direct examination B.Cross-examination C.Judicial examination D.Specific questioning E.Redirect questioning 65.Which of the following is a type.
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  71.To the Dogs. Alice loves all animals and is starting a new grooming business for dogs. She believes that animals are very important and plans to exceed any applicable regulations regarding cleanliness and health standards. Alice thinks some local regulations make no sense. For example, there is a local ordinance.
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  Multiple Choice Questions 13.Business ethics:  A.Results in a set of correct decisions made by a company B.Refers to a standard of business conduct C.Can improve business decisions D.Refers to a standard of business conduct and can improve business decisions E.Results in a set of correct decisions made by a company and can improve business decisions 14.The expectations.
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  74.What type of dispute resolution process is med-arb?  A.A process in which the parties agree to start out in mediation and, if the mediation is unsuccessful on one or more points, to move on to arbitration. B.A process in which the parties agree to start out in arbitration and, if the arbitration.
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  True / False Questions 1. A marketable security is a temporary investment of cash. 2. Eurodollar deposits can only be made at banks located in London. 3. The principal is the amount of money a business pays to use a bank's funds. 4. Serial bonds are a sequence of small bond issues of progressively longer.
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  81. _____ shows how much income is generated by each $1 the owners have invested in a firm.  A. Total asset turnover B. Profit margin C. Return on equity D. Return on assets E. Receivables turnover 82. Which of the following equations is used to calculate return on equity?  A. Return on equity = net income/sales B. Return on equity = revenue - expenses C. Return on equity =.
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  61. CorpoNeeds is an e-commerce company that sells office supplies. In an attempt to raise long-term funds, the company decides to issue bonds to lenders. These bonds do not have fixed interest payments, and the rate of interest changes depending on economic conditions. The bonds issued by CorpoNeeds are examples of:  A. floating-rate.
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  31. The most widely used source of short-term financing is:  A. an unsecured loan. B. a certificate of deposit. C. commercial paper. D. a Treasury bill. E. trade credit. 32. Which of the following is an arrangement by which a bank agrees to lend a specified amount of money to an organization upon request?  A. A trade credit B. A floating-rate bond C. A junk bond D. A lockbox E. A line of.
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  31. The acronym NOW, when used by financial institutions, stands for _____ and is a type of interest-bearing checking account.  A. Near Order Withdrawal B. Negotiable Order of Waiver C. Near Order of Waiver D. Negotiable Order of Withdrawal E. Negative Order of Withdrawal 32. Savings accounts are also known as:  A. interest deposits. B. term deposits. C. demand deposits. D. time deposits. E. certificates of deposit. 33. _____ or time deposits are accounts with.
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  11.Intermediate courts of appeal exist in all states.  12.The defendant responds to a complaint with an answer.  13.A defendant who believes that he or she has a claim against the plaintiff would include a counterclaim with the answer.  14.A reply is an answer to a counterclaim.  15.A party only has a limited number of.
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  104.Cindy ran over Hank in her company parking lot breaking his leg. That happened because, without warning, Cindy's brakes failed. Hank was out of work as a bookkeeper for one week, but otherwise recovered without incident. Hank sued Cindy for one million dollars for his injuries. Cindy decides to do.
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  Multiple Choice Questions 21.Administrative law involves:  A.applications. B.licenses. C.decision making. D.applications and licenses. E.applications, licenses, and decision-making. 22.What type of law is created by administrative agencies involving applications, licenses, permits, available information, hearings, appeals, and decision-making?  A.Executive law B.Congressional law C.Administrative law D.Enabling law E.Rule law 23.Which type of agency is generally defined as any body created by the legislative branch to carry.
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  21. Which of the following is true of commercial paper?  A. It is the most popular long-term investment for small businesses. B. It acts as a verbal promise to pay a specific amount of money. C. It is backed only by the name and reputation of the issuing company. D. It is only sold to sole proprietors and small.
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