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The Legal Environment of Business Text and Cases Ethical Regulatory Global, and Corporate Issues 8th Edition by Frank B. Cross - Test Bank £20.49   Add to cart

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The Legal Environment of Business Text and Cases Ethical Regulatory Global, and Corporate Issues 8th Edition by Frank B. Cross - Test Bank

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  • December 23, 2023
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  • 2022/2023
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, Chapter 1


Business and
Its Legal Environment

N.B.: TYPE indicates that a question is new, modified, or unchanged,
as follows.

N A question new to this edition of the Test Bank.
+ A question modified from the previous edition of the Test
Bank.
= A question included in the previous edition of the Test Bank.


TRUE/FALSE QUESTIONS

A1. The stability and predictability of the law is essential to business
activities.

ANSWER: T PAGE: 2 TYPE: =
NAT: AACSB Analytic AICPA Critical Thinking

A2. Law is a body of enforceable rules governing relationships among
individuals and between individuals and their society.

ANSWER: T PAGE: 2 TYPE: =
NAT: AACSB Analytic AICPA Legal

A3. A breach of a contract is a failure to perform it.

ANSWER: T PAGE: 3 TYPE: N
NAT: AACSB Ethics AICPA Critical Thinking
1

© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly
accessible website, in whole or in part.

,2 TEST BANK A—UNIT ONE: THE FOUNDATIONS



A4. Constitutional law includes only the U.S. Constitution.

ANSWER: F PAGE: 4 TYPE: =
NAT: AACSB Analytic AICPA Legal




© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly
accessible website, in whole or in part.

, CHAPTER 1: BUSINESS AND ITS LEGAL ENVIRONMENT 3

A5. A state constitution is supreme within the state’s borders.

ANSWER: T PAGE: 4 TYPE: =
NAT: AACSB Analytic AICPA Legal

A6. Whether a law is constitutional depends on its source.

ANSWER: F PAGE: 4 TYPE: =
NAT: AACSB Analytic AICPA Legal

A7. Uniform laws apply in all states, including those in which the laws
have not been adopted.

ANSWER: F PAGE: 4 TYPE: =
NAT: AACSB Analytic AICPA Legal

A8. A state law that conflicts with the U.S. Constitution will be deemed
unconstitutional.

ANSWER: T PAGE: 4 TYPE: =
NAT: AACSB Analytic AICPA Legal

A9. Statutory law does not include county ordinances.

ANSWER: F PAGE: 4 TYPE: =
NAT: AACSB Reflective AICPA Legal

A10. No state has adopted the Uniform Commercial Code in its entirety.

ANSWER: F PAGE: 5 TYPE: =
NAT: AACSB Reflective AICPA Legal

A11. Common law is a term for law that is common throughout the world.

ANSWER: F PAGE: 7 TYPE: =
NAT: AACSB Analytic AICPA Critical Thinking

A12. Damages is a remedy at law.

ANSWER: T PAGE: 7 TYPE: =
NAT: AACSB Analytic AICPA Legal

© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly
accessible website, in whole or in part.

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