According to Attorney Consultation 6, one of the attorneys references the company's _____ so the business partners can be aware of their responsibilities and liabilities in the event that one leaves the company. A. bylaws B. mortgage C. constitution D. operating agreement 2 points QUESTION 2 In Sub Saga 6, one of the partners is happy to be: A. entering the catering business B. leaving the business C. suing her business partner D. preparing for her CPA exam 2 points QUESTION 3 The attorney in Attorney Consultation 5 labels the business owners' debts as: A. miniscule B. secured C. debilitating D. unsecured 2 points QUESTION 4 In Attorney Consultation 5, the attorney characterizes chapter 13 bankruptcy as a(n): A. repayment bankruptcy B. reorganization bankruptcy C. escrow bankruptcy D. liquidation bankruptcy 2 points QUESTION 5 According to the diagrams article, the book "When Cultures Collide" spends relatively little time on today's: A. superpowers B. proxy wars C. emerging markets D. third-world countries 2 points QUESTION 6 If Apple bought General Motors, it would be a: A. conglomerate merger B. vertical merger C. horizontal merger D. antitrust violation 2 points QUESTION 7 When the shareholders of the disappearing corporation from a merger surrender their shares for cash: A. takeover B. consolidation C. conglomeration D. freeze out merger 2 points QUESTION 8 A merger between two bread manufacturers is a: A. harvesting B. wheat merger C. vertical merger D. horizontal merger 2 points QUESTION 9 Some defenses for mergers include all, EXCEPT: A. the merger would lead to more efficiency B. the resulting firm would raise entry barriers C. the acquiring merger would allow for better operations financing D. the existing competitors are able to compete 2 points QUESTION 10 The Sarbanes-Oxley Act mandated increases in all areas, EXCEPT: A. ethics codes B. financial disclosures C. financiel statement certifications D. transparency 2 points QUESTION 11 When the shareholders of the disappearing corporation from a merger retain an interested in the surviving corporation: A. noncash merger B. cash merger C. freeze out merger D. smooth transition 2 points QUESTION 12 IPOs have many advantages, including: A. owernship gets diluted B. shares can be used as compensation C. stock prices can fall D. shareholders risk their money 2 points QUESTION 13 The term merger is sometimes used broadly to describe expansions in which one corporation acquires part or all of another, but in the legal sense it refers to: A. one of four methods of achieving expansion B. merging two oligopolies C. combining two bankrupt entities D. balancing the interests of competing stakeholders 2 points QUESTION 14 Essentially the same as a merger, but the result is a new corporation: A. conglomerate B. vertical merger C. subsidiary D. consolidation 2 points QUESTION 15 A drawback of a corporation going public is that it releases information that might be helpful for: A. all of these choices B. consumers C. the SEC D. competitors 2 points QUESTION 16 Only the parent company s board needs to approve the deal, without consent from any shareholders, under a: A. tender offer B. freeze out merger C. leveraged buyout D. short-form merger 2 points QUESTION 17 The practice of a seller using its volume of purchases from the buyer to induce the buyer to buy from it: A. entrenchment B. entanglement C. consolidation D. reciprocity 2 points QUESTION 18 A merger starts when two or more companies negotiate an agreement detailing important issues, such as: A. whether to allow worker strikes B. identities of management personnel C. how both corporations will survive D. who will conduct a SWOT analysis 2 points QUESTION 19 A merger between direct competitors is a: A. horizontal merger B. vertical merger C. Clayton Act violation D. conglomerate merger 2 points QUESTION 20 Because parties to treaties are sovereign states, treaties have a: A. loophole status B. vertical structure C. horizontal structure D. questionable legality 2 points QUESTION 21 Environmental degradation, sweatshop conditions, and child labor are some common ethical issues facing companies that: A. offshore financial accounts B. outsource jobs C. compartmentalize logistical operations D. do business in Scandinavia 2 points QUESTION 22 The President has power to negotiate treaties with foreign entities, but: A. the House of Representatives can veto treaties B. the American people vote to approve treaties C. all Congress members vote to approve treaties D. the Senate must ratify treaties 2 points QUESTION 23 International businesses create contracts with parties from various nations, but unlike treaties the disputes follow a: A. synethesized legal agreement B. horizontal legal structure C. vertical legal structure D. choice of status provision 2 points QUESTION 24 Provision that specifies which law and jurisdiction will apply to contract disputes: A. choice of law clauses B. choice of forum provisions C. import controls D. merger clause 2 points QUESTION 25 It is often illegal to import _____ from other countries without permission. A. soccer balls B. coffe cup sleeves C. knitted apparel D. items of cultural heritage 2 points QUESTION 26 Because there is no authoritative lawmaking party policing them, many treaties: A. contain dispute panel provisions B. contain the nuclear option C. are easy to enforce D. are often just for show 2 points QUESTION 27 The U.N. Convention on Contracts for the International Sale of Goods applies to the sale of goods between: A. third world nations B. developed countries C. parties from countries that signed this treaty D. all nations that are part of the United Nations 2 points QUESTION 28 Export controls are regulated by: A. the U.S. Chamber of Commerce B. home field advantages C. several federal government departments D. the Attorney General 2 points QUESTION 29 A political entity that governs its own affairs without supervision by an outside authority: A. sovereign state B. province C. county D. colony 2 points QUESTION 30 According to the Small Business Association, more than 96 percent of the world's prospective customers live: A. outside the United States B. in China C. in the southern hemisphere D. in North America 2 points QUESTION 31 Even though predetermined tribunals often govern treaty disputes, some experts believe that: A. international law is in persistent anarchy B. the European Union should resolve international disputes C. tribunals should belong only to Native Americans D. NAFTA is the best dispute resolution body 2 points QUESTION 32 An environmental problem that companies face is how to safely recycle toxic electronics, also known as: A. e-waste B. acid testing C. toxic terminating D. carbon banking 2 points QUESTION 33 Bankruptcy law is required in modern society because: A. many politicians could not run for office otherwise B. the United Nations mandates it for modern governments C. debtors' prisons would take up too much land D. without it, few would be willing to risk personal debts 2 points QUESTION 34 The end of a corporation's legal existence: A. termination B. disollution C. winding down D. liquidation 2 points QUESTION 35 Which is NOT a general reason for which a bankruptcy case is dismissed? A. non-payment of any required fees B. failure to file required documents and schedules C. the debtor qualifies for too many government benefits D. unreasonable delay by the debtor that prejudices creditors 2 points QUESTION 36 In which decade was the highest number of bankruptcies filed? A. 1980s B. 1970s C. 1950s D. 1930s 2 points QUESTION 37 Bankruptcy law imposes duties on the debtor, such as filing a list of creditors, assets, liabilities, and: A. family pets B. disabiolities C. all of these choices D. current income 2 points QUESTION 38 A Chapter 11 bankruptcy may be converted to a: A. Chapter 7 if the trustee believes the debtor is dysfunctional B. Chapter 13 if the debtor can't pay all her creditors in time C. Chapter 12 if the debtor updates its farming equipment D. Chapter 7 if the debtor can't make the reorganization plan work 2 points QUESTION 39 A debt discharge may be revoked if: A. the debtor committed fraud during bankruptcy proceedings B. the bankruptcy court later adjusts the means test for inflation C. the debtor begins to earn more money than the means test D. the debtor arrives to court in a limousine 2 points QUESTION 40 The bankruptcy petition creates a temporary restraint against creditors' lawsuits or other actions. This restraint is referred to as the: A. composition agreement B. no-go zone C. automatic stay D. first meeting of creditors 2 points QUESTION 41 The Fair Debt Collection Practices Act was passed to: A. to prevent creditors from calling debtors B. allow debtors to ignore creditors C. to shield debtors from liability D. fight abusive collection tactics 2 points QUESTION 42 All of the following are bankruptcy alternatives, EXCEPT: A. liquidation B. receivership C. composition D. assigned for benefit of creditors 2 points QUESTION 43 The most common lien on personal property is the: A. judgment lien B. possessory lien C. merchant's lien D. mechanic's lien 2 points QUESTION 44 All of the following are bankruptcy trustee s duties, EXCEPT: A. investigate the debtor's financial affairs B. examine proofs of claims C. make and file a final report D. liquidate the debtor's pension funds 2 points QUESTION 45 A Chapter 7 bankruptcy case may be voluntarily converted to a: A. all of these choices B. Chapter 11 or 13 C. Chapter 5 or 7 D. Chapter 3 2 points QUESTION 46 Chapter 13 bankruptcy is also referred to as the: A. debtor's purgatory B. liquidation C. the debtor's dilemma D. wage earner's plan 2 points QUESTION 47 States may bring an involuntary dissolution against a corporation on several grounds, EXCEPT: A. failure for 30 days to appoint a registered agent B. failure to file an annual report C. fraud in procuring incorporation D. failure to earn a profit in the last three years 2 points QUESTION 48 Chapter 13 bankruptcy applies: A. to all debtors B. only to individuals C. only to family farmers D. only to businesses 2 points QUESTION 49 In a Chapter 7 bankruptcy court, the trustee is required to collect the debtor's property, liquidate the debtor's estate, and: A. communicate with the debtor's spouse B. all of these choices C. distribute the proceeds to creditors D. provide counseling to the debtor 2 points QUESTION 50 One traditional debt-collection tool that has been outlawed in many states: A. wage assignment B. garnishment C. composition agreement D. confession of judgment