Q1. A potential drawback of sole proprietorships and partnerships is that the parties involved have:
a. limited financial liability
b. only corporate liability
c. unlimited liability
d. partial protection from creditors for business debts
e. only corporate liability and partial protection from creditors for business debts
Q2. The process of settling the accounts and liquidating the assets of a corporation is called:
a. termination
b. certification
c. transference
d. dissolution
Q3. The New York Stock Exchange is an example of a stock exchange where:
a. the stock of sole proprietorships can be traded
b. the stock of public corporations can be traded
c. the stock of private corporations can be traded
d. the stock of public corporations cannot be traded
e. the stock of public corporations can be sold but not bought
Q4. Limited liability companies are guided by an operating agreement.
a. true
b. false
Q5. When a court holds shareholders personally liable for corporate debts it is said to be:
a. piercing the corporate veil
b. opening the corporate veil
c. closing the corporate veil
d. tearing the corporate veil
e. cutting the corporate veil
Q6. The rules that regulate and govern the internal operations of a corporation are known as:
a. the certificate of incorporation
b. the bond
c. the bylaws
d. statutes of business
e. the corporate constitution
Q7. Under traditional common law rules, if you wanted to sue a partnership you had to:
a. sue each partner individually
b. sue the partnership as a group
c. sue the state on behalf of the partnership
d. have the state sue the partnership
e. wait until the partnership was incorporated to sue
Q8. Double taxation on profits is:
a. a disadvantage to the corporate form of organization
b. an advantage to the corporate form of organization
c. an incentive for governments to lower sales taxes for corporations
d. a driving force behind the trend of businesses moving overseas
e. a clever economic strategy
Q9. A certification of incorporation from the government:
a. gives a business monopoly privileges
b. is necessary for a corporation to be recognized legally
c. must be obtained by all limited partnerships
d. is necessary or a corporation to be recognized legally and must be obtained by all limited partnerships
Q10. The Family and Medical Leave Act applies to all:
a. private employers of 50 or more persons
b. employees after 30 days of employment
c. government units
d. private employers of 50 or more persons and government units
e. private employers of 50 or more persons and government units and employees after 30 days of employment
Q11. The powers of the National Labor Relations Board include:
a. monitoring of unfair labor practices
b. representing the NLRB in court
c. determining if employees want to be represented by a union
d. monitoring of unfair labor practices and determining if employees want to be represented by a union
e. monitoring of unfair labor practices and determining if employees want to be represented by a union and representing the NLRB in court
Q12. Protected concerted activities under the NLRA, that covers all workers, unionized or not, include:
a. refusal to work because of unreasonable hazards
b. refusal to work in freezing conditions without protection
c. refusal to work due to conditions that endanger health
d. refusal to work in freezing conditions without protection and refusal to work due to conditions that endanger health
e. refusal to work in freezing conditions without protection and refusal to work due to conditions that endanger health and refusal to work because of unreasonable hazards
Q13. Violations of OSHA regulations are civil, there are no criminal penalties.
a. true
b. false
Q14. Wrongful discharge is a(n):
a. felony
b. minor misdemeanor
c. major misdemeanor
d. tort
e. civil crime
Q15. Lockouts are legal as long as:
a. there is no evidence of bad intent
b. there is evidence of non-violent attempts to break a union
c. there is physical force involved
d. there is not any physical force involved
Q16. Workers who engage in threats or acts of violence:
a. are protected by the NLRA
b. are not protected by the NLRA
c. are protected by the Supreme Court
d. are protected by the NLRA in states with right-to-work laws
Q 17. Before the Norris-La Guardia Act, federal courts:
a. could not interfere in labor-management relations
b. showed no interest in labor-management relations
c. could issue injunctions to stop labor strikes
d. refused to interfere in labor-management disputes due to the Interstate Commerce Clause
Q18. When a person believes she or he has been the victim of discrimination covered by Title VII, the first step is to file a complaint with the federal or a state equal employment opportunity agency.
a. true
b. false
Q 19. The Rehabilitation Act and the Americans with Disability Act define a person with disability as one who:
a. has a physical impairment which substantially limits a major life activity
b. has a mental impairment which substantially limits a major life activity
c. has a record of having a serious physical impairment
d. has a physical impairment which substantially limits a major life activity or has a record of having a serious physical impairment
e. has a physical impairment which substantially limits a major life activity or has a record of having a serious physical impairment or has a mental impairment which substantially limits a major life activity
Q20. Discrimination on the basis of sexual preference or sexual identity:
a. is prohibited by Title VII of the Civil Rights Act
b. is not prohibited by Title VII of the Civil Rights Act
c. is prohibited by most states
d. is an accepted practice in most workplaces
Q 21. The pay that an employee would have earned from the date the discrimination began or the difference between the pay received and what should have been received is known as:
a. back pay
b. punitive damages
c. front pay
d. compensatory damages
Q22. If an employer uses a decision rule that causes discrimination in some aspect of employment based on protected class status, but the discrimination was unintentional, the discrimination is called:
a. disparate treatment, but is legal so long as not intentional
b. disparate treatment, which is illegal
c. disparate impact, but is legal so long as not intentional
d. disparate impact, which is illegal
e. differential impact, but is legal so long as not intentional
Q23. The Equal Pay Act allows differences in wages between men and women employees if the differences are due to:
a. a system that measures earnings by quantity produced
b. a merit system
c. a seniority system
d. a system that measures earnings by quantity produced or a merit system
e. a system that measures earnings by quantity produced or a merit system or a seniority system
Q24. If a court finds that a worker suffered illegal discrimination in employment, in addition to back wages the worker may be granted artificial seniority.
a. true
b. false
Q25. Individual states:
a. may not have civil rights acts that apply to employers exempt from Title VII
b. may have civil rights acts that apply to employers exempt from Title VII
c. may not have civil rights acts that protect additional classes of employees not covered by Title VII
d. may exempt employers from any Title VII regulation