Brittney is the CFO of Wealthy Manufacturing, Incorporated (WMI). She made $100,000 by buying 20,000 shares of WMI's stock at $30 a share in November of 2020 and selling them for $35 a share in February of 2021. These profits would be called

Multiple Choice

• short-range profits.
• short-term profits.
• short-spell profits.
• short-swing profits.

Antonio has arranged for a business which he plans to name "Laser Tag Incorporated" (LTI) but it is not yet incorporated. Prior to incorporating, he got a line of credit from his bank for $500,000 to start up the business and leased a warehouse. The warehouse owner did not know that the business was not yet incorporated. LTI was incorporated three months after Antonio entered into the lease and after six months, LTI breached the lease contract. The warehouse owner claims a loss of $50,000 as a result of the breach. Under the Revised Model Business Corporation Act, what liability will Antonio have personally for the warehouse owner's losses?

Multiple Choice

• He will be completely shielded from personal liability.
• He will be jointly and severally liable with LTI for the full $50,000.
• He will have 50% liability, the corporation LTI will have 50% liability.
• He will be liable for the full $50,000 and LTI will have no liability.

Aaron and Noah formed a corporation for the purpose of raising money for their church charity. This is known as a/an

Multiple Choice

• closely held corporation.
• public corporation.
• nonprofit corporation.
• Subchapter S corporation.

A shareholder is a/an __________ of a corporation.

Multiple Choice

• director
• promoter
• officer
• owner

Which of the following could be formed as a limited liability partnership (LLP) in states that follow the traditional view in which LLP protection is rooted?

Multiple Choice

• Ronnie and Regina open a public accounting firm.
• Thelma and Trina open a firearms store.
• Fauss and Halsy open a motorcycle dealership.
• Armstrong, Aldrin and Collins open the Apollo Bar and Grill.

Dissolution of a limited liability corporation (LLC) is a

Multiple Choice

• debt financing process triggered when any member of the LLC seeks to enter into obligations on behalf of the LLC.
• process triggered by federal law if the LLC is sued.
• voting procedure whereby limited partners hold a majority vote to amend bylaws.
• liquidation process triggered by an event specified in the operating agreement.

Which of the following is not a theory of discrimination under the Civil Rights Act?

Multiple Choice

• Disparate treatment
• Disparate impact
• Mixed motives
• Unclear opportunity

Which of the following is an example of quid pro quo sexual harassment?

Multiple Choice

• LaTawnya's boss often teases her about her curly hair and short stature.
• Grigori is offered a $1,000 a month raise if he agrees to have sex with his supervisor.
• Jen's boss regularly calls her into his office and makes crude sexual remarks. The remarks cause her emotional stress which makes it difficult to do her job.
• Barnsworth is offended by his boss, who regularly plays pornographic movies on his computer at work.

Edgar was a computer programmer at Fastco, he has twitchy arms syndrome (TAS), which is not considered a disability under the Americans with Disabilities Act (ADA). Fastco senior management considered Edgar disabled even though he didn't require any accommodations in the workplace and did his job well. When Edgar applied for a management position, he was denied because of his TAS. Under the ADA, Edgar has protections based on

Multiple Choice

• the Lilly Ledbetter Fair Pay Act.
• the apparent disability doctrine.
• Edgar does not have protections under the ADA because TAS is not considered a disability.
• the regarded-as test

Stelissa is an associate attorney with Drake & Creighton, Attorneys at Law. Her supervisor, Russ, is a partner in the firm. Russ regularly tells her she's hot and should wear tighter-fitting clothes. He often calls her into his office and asks her to turn around slowly so he can admire her body. He never touches her. These ongoing comments make her job difficult. At the end of the year, Russ gives Stelissa a great performance review and a $20,000 a year raise, more than any other associate attorney. Stelissa files a complaint with the EEOC after one year of this treatment. Under these facts

Multiple Choice

• she may have a valid hostile environment claim.
• she has suffered no detriment as he never touched her, so she has no cause of action.
• she may have a validquid pro quoclaim.
• she has suffered no economic or other job detriment, so she has no cause of action.

The U.S. Department of Labor is authorized to oversee pension and retirement savings plans that corporations set up under the

Multiple Choice

• Employee Retirement Income Security Act.
• Social Security Act.
• Pension and Savings Preservation Act.
• National Labor Relations Act.

The Federal Unemployment Tax Act accomplished which of the following?

Multiple Choice

• It required that workers and employers pay taxes equally into a system to provide for unemployment benefits.
• It established a state-administered fund to provide payments to workers with sudden job loss.
• All of the answer choices are correct.
• It provided 100% pay to employees who have been laid off.

The rights of workers to engage in the process of negotiating an agreement on behalf of an entire workforce is known as

Multiple Choice

• a wildcat strike.
• independent negotiation.
• collective bargaining.
• certification and authorization.

Roger works as a sales manager for Hi-Tech Solutions, a company that performs software consulting services. While working for Hi-Tech, Roger started a side business doing software consulting work and made $50,000 in it over the course of three years. Roger never informed Hi-Tech of his lucrative side business. If a court finds that Roger breached his duty of loyalty and orders him to pay Hi-Tech the $50,000 in profits he earned from his secret business, this is known as

Multiple Choice

• disgorgement.
• restoration.
• replenishment.
• reinstatement.