Acc 205: Question and Answers

Acc 205: Question and Answers Act of State Doctrine - ANSWER: International law Cannot evaluate validity of another nations decision in its own territory Determine appropriate punishment Alien Corporation - ANSWER: corporation doing business in another country than it was founded in Antidumping - ANSWER: selling of goods in a foreign country at a price below the price charged for the same good in the domestic market Articles of incorporation - ANSWER: Founding document setting up a corporation. State statutes usually prescribe what kind of information must be contained in it. Articles of organization - ANSWER: The document filed with a designated state official by which a limited liability company (LLC) is formed. Bill of Rights - ANSWER: The first ten amendments to the U.S. Constitution that limits federal power. Protection against federal government Capitalization of entity - ANSWER: How easy it is to raise capital hard for sole prop to raise capital (borrow funds), easier for partnership, for corporations (sell shares and stocks) Categorical Imperative - ANSWER: Developed by the Immanuel Kant as an ethical guideline for behavior. In deciding whether an action is right or wrong, a person should evaluate the action in terms of what would happen if everybody else in the same situation acted the same way? CERCLA - ANSWER: Comprehensive Environmental Response, Compensation and Liability Act The federal legislation governing the cleanup of leaking hazardous waste disposal Aka Superfund (fund to clean up of hazardous waste) People who are responsible: person who generated the waste, person who transported the waste, person who owned/operated the site at the time of disposal and current owner Chain-Style Franchise - ANSWER: operates under a franchiser's trade name and is a member of select group of dealers.