Leg 100 Quiz 1 Essay

Question 1 5 out of 5 points Correct Which of the following is a type of law referencing formal rules embodied in judicial decisions rendered by courts? Answer Selected Answer: Public Correct Answer: Public Question 2 5 out of 5 points Correct Which of the following is not one of the four primary public policy objectives furthered by laws and regulations applicable to U.S. business? Answer Selected Answer: Promoting governmental regulation Correct Answer: Promoting governmental regulation Question 3 5 out of 5 points Correct Which of the following was enacted after widespread abuses in the subprime mortgage market? Answer Selected Answer: The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 Correct Answer: The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 Question 4 0 out of 5 points Incorrect Which of the following is a type of law referencing formal rules embodied in constitutions and statutes enacted by legislatures? Answer Selected Answer: Substantive Correct Answer: Public Question 5 5 out of 5 points Correct The ______ approach to business and society introduced in the text is a descriptive framework that integrates legal and societal considerations with mainstream theories of competitive advantage and social responsibility. Answer Selected Answer: Systems Correct Answer: Systems Question 6 5 out of 5 points Correct Managers can make their own ______ law by entering into contracts and crafting certain governance structures. Answer Selected Answer: Private Correct Answer: Private Question 7 5 out of 5 points Correct Which of the following was created by food advertisers in an attempt to halt government regulation aimed at stopping marketing preying on children’s vulnerability? Answer Selected Answer: The Children’s Advertising Review Unit Correct Answer: The Children’s Advertising Review Unit Question 8 5 out of 5 points Correct The â€Å"systems approach† to business and society builds on which of the following stakeholder theory insights? Answer Selected Answer: That firms have relationships with many constituent groups, which both affect and are affected by the actions of the firm. Correct Answer: That firms have relationships with many constituent groups, which both affect and are affected by the actions of the firm. Question 9 0 out of 5 points Incorrect Which of the following is listed in the text as a component of managing risk when assembling a team in business development? Answer Selected Answer: Purposefully refusing to address issues such as sexual harassment Correct Answer: Analyzing any covenants not to compete Question 10 0 out of 5 points Incorrect Which of the following is an advocacy group that has lobbied against marketing to children? Answer Selected Answer: The Alliance to Ban Advertising Targeting Children Correct Answer: The Center for Science in the Public Interest Question 11 5 out of 5 points Correct Which of the following is part of Kant’s categorical imperative? Answer Selected Answer: The form of an action rather than the intended result determines the ethical worth. Correct Answer: The form of an action rather than the intended result determines the ethical worth. Question 12 0 out of 5 points Incorrect Which of the following illustrates that corporate conduct violating society’s expectations can result in new forms of regulation without regard for feasibility or cost? Answer Selected Answer: The Corporate and Securities Reform and Retribution Consumer Protection Act of 2011 Correct Answer: The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 Question 13 5 out of 5 points Correct Nobel prize winner Milton Friedman asserts that â€Å"social responsibility† is a fundamentally ____________ doctrine. Answer Selected Answer: subversive Correct Answer: subversive Question 14 5 out of 5 points Correct In which of the following are a majority of Fortune 500 companies incorporated? Answer Selected Answer: Delaware Correct Answer: Delaware Question 15 0 out of 5 points Incorrect Which of the following is a stakeholder of a corporation? Answer Selected Answer: Employees and customers, but not managers Correct Answer: Customers, employees and managers Question 16 5 out of 5 points Correct Which of the following are the three main theories under the comparative justice framework? Answer Selected Answer: Distributive, compensatory, and retributive Correct Answer: Distributive, compensatory, and retributive Question 17 5 out of 5 points Correct According to the Delaware Supreme Court, when does the role of a director shift from being a â€Å"protector of the corporate bastion† to being an â€Å"auctioneer† charged with obtaining the highest realizable short-term value for the shareholders? Answer Selected Answer: Only when the breakup of the corporation or a change of control has become inevitable Correct Answer: Only when the breakup of the corporation or a change of control has become inevitable Question 18 0 out of 5 points Incorrect Which of the following is not an example of St. Thomas Aquinas’ requirements for a law to be just? Answer Selected Answer: The law must be consonant with a reasoned determination of the universal good. Correct Answer: The law must be formed to promote a private benefit to the majority. Question 19 5 out of 5 points Correct Monica tells all her employees that she expects them to treat others as they would like to be treated. Which of following is a descriptive term for Monica’s requirement? Answer Selected Answer: The Golden Rule Correct Answer: The Golden Rule Question 20 0 out of 5 points Incorrect Which of the following is the group given the ultimate legal authority to change management? Answer Selected Answer: Human resource managers Correct Answer: Shareholders