{"id":115506,"date":"2023-08-24T11:54:50","date_gmt":"2023-08-24T11:54:50","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=115506"},"modified":"2023-08-24T11:54:53","modified_gmt":"2023-08-24T11:54:53","slug":"test-bank-for-the-legal-environment-of-business-11th-edition-cross-all-chapters-1-28-full-complete-2023","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/08\/24\/test-bank-for-the-legal-environment-of-business-11th-edition-cross-all-chapters-1-28-full-complete-2023\/","title":{"rendered":"Test Bank for The Legal Environment of Business 11th Edition Cross \/ All Chapters 1 – 28 \/ Full Complete 2023"},"content":{"rendered":"\n

Ch01: Law and Legal Reasoning
Page 1
The Legal Environment of Business 11th Edition Cross
Test Bank
True \/ False<\/p>\n\n\n\n

    \n
  1. In the United States, the law consists of written laws and court decisions.
    a. True
    b. False
    ANSWER: True<\/li>\n\n\n\n
  2. The legal rules that control a business\u2019s actions reflect past and current thinking about how similar businesses should
    and should not act.
    a. True
    b. False
    ANSWER: True<\/li>\n\n\n\n
  3. Because laws may change, the ability to analyze and evaluate the legal ramifications of situations as they arise is not
    a lasting skill.
    a. True
    b. False
    ANSWER: False<\/li>\n\n\n\n
  4. The study of business law does not involve an ethical dimension.
    a. True
    b. False
    ANSWER: False<\/li>\n\n\n\n
  5. Compartmentalizing the law into discrete topics indicates that each business transaction is subject to only one specific
    area of the law.
    a. True
    b. False
    ANSWER: False<\/li>\n\n\n\n
  6. A constitution is a primary source of law.
    a. True
    b. False
    ANSWER: True<\/li>\n\n\n\n
  7. A statute is a secondary source of law.
    a. True
    b. False
    ANSWER: False<\/li>\n<\/ol>\n\n\n\n

    Ch01: Law and Legal Reasoning
    Page 2<\/p>\n\n\n\n

      \n
    1. A secondary source of law establishes the law on a particular issue.
      a. True
      b. False
      ANSWER: False<\/li>\n\n\n\n
    2. Courts often refer to secondary sources of law for guidance in interpreting and applying a primary source of law.
      a. True
      b. False
      ANSWER: True<\/li>\n\n\n\n
    3. Even if it conflicts with the U.S. Constitution, a state constitution is supreme within that states\u2019 borders.
      a. True
      b. False
      ANSWER: False<\/li>\n\n\n\n
    4. The U.S. Constitution is the basis of all law in the United States.
      a. True
      b. False
      ANSWER: True<\/li>\n\n\n\n
    5. Only if a state legislature adopts a uniform law does that law become part of the statutory law of that state.
      a. True
      b. False
      ANSWER: True<\/li>\n\n\n\n
    6. A citation is a regulation enacted by a city or county legislative body.
      a. True
      b. False
      ANSWER: False<\/li>\n\n\n\n
    7. A local ordinance commonly has to do with a matter concerning only a local governing unit.
      a. True
      b. False
      ANSWER: True<\/li>\n\n\n\n
    8. A federal statute applies only to those states that agree to apply it within their borders.
      a. True
      b. False
      ANSWER: False<\/li>\n<\/ol>\n\n\n\n

      Name: Class: Date:
      Ch01: Law and Legal Reasoning
      Page 3<\/p>\n\n\n\n

        \n
      1. Congress or a state legislature establishes an administrative agency to perform a specific function.
        a. True
        b. False
        ANSWER: True<\/li>\n\n\n\n
      2. Independent regulatory agencies are not subject to the authority of the president.
        a. True
        b. False
        ANSWER: False<\/li>\n\n\n\n
      3. Rules issued by administrative agencies affect almost every aspect of a business\u2019s operations.
        a. True
        b. False
        ANSWER: True<\/li>\n\n\n\n
      4. Federal agency regulations do not take precedence over conflicting state regulations.
        a. True
        b. False
        ANSWER: False<\/li>\n\n\n\n
      5. Administrative law plays a relatively insignificant role in the regulatory environment of business.
        a. True
        b. False
        ANSWER: False<\/li>\n\n\n\n
      6. The doctrines and principles announced in court decisions govern all areas not covered by statutory or administrative
        law.
        a. True
        b. False
        ANSWER: True<\/li>\n\n\n\n
      7. The common law is a body of law developed from judicial decisions.
        a. True
        b. False
        ANSWER: True<\/li>\n\n\n\n
      8. A court should overturn its precedents unless there is a compelling reason not to.
        a. True
        b. False
        ANSWER: False<\/li>\n<\/ol>\n\n\n\n

        Name: Class: Date:
        Ch01: Law and Legal Reasoning<\/p>\n\n\n\n

          \n
        1. Controlling precedents are binding authorities.
          a. True
          b. False
          Page 4
          ANSWER: True<\/li>\n\n\n\n
        2. A case of first impression is any legal authority or source of law that a court may look to for guidance but need not
          follow when making its decision.
          a. True
          b. False
          ANSWER: False<\/li>\n\n\n\n
        3. Often, more than one rule of law will be applicable to a case.
          a. True
          b. False
          ANSWER: True<\/li>\n\n\n\n
        4. There is one right answer to every legal question.
          a. True
          b. False
          ANSWER: False<\/li>\n\n\n\n
        5. Because courts of law and equity have merged, the principles of equity are no longer applied.
          a. True
          b. False
          ANSWER: False<\/li>\n\n\n\n
        6. With respect to the study of jurisprudence, there is only one school of legal thought.
          a. True
          b. False
          ANSWER: False<\/li>\n\n\n\n
        7. Civil law has to do with wrongs committed against society for which society demands redress.
          a. True
          b. False
          ANSWER: False<\/li>\n\n\n\n
        8. International law derivesfrom a variety ofsources, including the laws of individual nations.
          a. True
          b. False
          ANSWER: True<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

          Ch01: Law and Legal ReasoningPage 1The Legal Environment of Business 11th Edition CrossTest BankTrue \/ False Ch01: Law and Legal ReasoningPage 2 Name: Class: Date:Ch01: Law and Legal ReasoningPage 3 Name: Class: Date:Ch01: Law and Legal Reasoning<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-115506","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/115506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=115506"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/115506\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=115506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=115506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=115506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}