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D Question 8 1 pts If the employer requires a degree, certification, or license for a job, which of the following will be considered in determining whether disparate impact discrimination exists? The entire labor pool must still be reviewed. Disparate treatment cannot be a consideration. O It is up to the employer to decide whom to consider in the pool. The relevant labor pool will include that attribute. D Question 9 1 pts Intentional discrimination against an employee is referred to as treatment. unjust O disparate o unfair O disinclined tion 11 1 pts If a corporation dissolves and pays all its creditors, the shareholders who have priority for cash distributions are Preferred shareholders Shareholders who purchased original shares Common shareholders O Any shareholder D Question 12 1 pts If the name of a partnership is something other than the name of one of the partners, the partnership name must be based on the state's mandatory naming statute O naming statute O subject matter naming assumed name statute D Question 14 1 pts If probable cause exists, what will the grand jury return? O A conviction A true bill O A search warrant An arrest warrant Question 17 1 pts In the matter of a solvent partnership, assets of the partnership are distributed among the partners EXCEPT: O Partners who have made advances to the firm are reimbursed. O Any profit is distributed according to the partnership agreement. A solvent partnership has no assets remaining, Partners' capital is returned. D Question 18 1 pts The U.S. Patent and Trade Office is an agency of the Department of Interior o Commerce Justice Treasury Question 19 1 pts Suits attempting to hold shareholders personally liable for a corporate obligation are Piercing the corporate veil Shareholder liability litigation O Piercing the shareholder worth O Shareholder obligations Question 21 1 pts If a union can secure enough signatures of interest, the union will request election. O a representation O a democratic O an advisory O a bargaining Question 25 1 pts LLCs and corporations are alike in that Both an LLC and a corporation require complex and costly procedures and filings before they can legally do business An LLC and a corporation are treated identically for tax purposes Members of an LLC usually have little to no control in major business decisions Owners are personally liable for debts only to the extent of the money they put into the business D Question 26 1 pts The corporate opportunity doctrine applies when a director Trades company stock based on insider information. Breaks a confidential agreement. Takes a business prospect that should have been offered to the corporation Asks to be excused from a vote that may be a conflict of interest. Question 27 1 pts Which of the following is NOT an advantage of doing business as a limited partnership (LP)? Limited partners can invest in a partnership while effectively protecting their personal assets. O Limited partners cannot actively share in management of the partnership, without incurring the risks of personal liability. A limited partnership allows limited partners to be liable only to the extent of their capital contribution. A limited partnership is often a convenient and attractive option to investors. Question 30 1 pt Par value stock is best described as stock that O Gives the owner the right to buy a stated number of shares Can be purchased in the future at a set price O is offered at a certain price per share O Allows the holder to sell shares at a stated price Question 30 1 pt Par value stock is best described as stock that O Gives the owner the right to buy a stated number of shares Can be purchased in the future at a set price O is offered at a certain price per share O Allows the holder to sell shares at a stated price Question 36 1 pts Equitable suits filed to request relief if a partner has been denied access to partnership records seek which of the following? Charging order Decree of insolvency O Marshalling order O Accounting Question 37 1 pts The following apply to officers and directors of a corporation EXCEPT: Liability may extend to shareholders and third parties. Liability normally rests with the corporation. Liability never applies to directors, O Agency laws are applicable. D Question 32 1 pts A party being sued for patent infringement may use which of the following as a defense? Statutory bar Illusory infringement Veiled attempt O Infringement per se Question 38 1 pts In a limited partnership (LP), personal liability for the debts of the LP is limited to their investment for partners. silent O limited O joint O general D Question 39 1 pts Unless a partnership agreement states otherwise, how are profits shared? Each partner has a right to share equally in the profits. Based on which partner made the largest capital contribution. By order of a court of equity. rses The majority shareholder receives 50% of the profit; the remaining 50% is shared equally among the other partners. Question 41 1 pts The following statements are true about treasury stocks EXCEPT: It is stock that the corporation acquired by gift or by purchasing from shareholders. Treasury stock can be resold only at par value. O Most states require that corporations purchase treasury shares only with accumulated profits or surpluses. Creditors of the corporation or the state itself may block the purchase of treasury stock. Question 46 1 pts When can ratification be effective? When the principal accepts the benefit of the contract but not the obligations When a corporation ratifies contracts before the company has been incorporated When both the principal and agent are capable of contracting When a third party ratifies a contract as part of a novation D Question 47 1 pts When is an undisclosed principal subject to liability to third parties? When the agent has acted outside the scope of authority When the principal indemnifies the third party If the principal retains the benefits of the contract negotiated by the agent If the contract is for the personal services of the agent Question 48 1 pts The weighted average method of stock valuation is used to value stock At a buyout To report to board members During a proposed merger Prior to an IPO Question 49 1 pts Cumulative voting gives shareholders a total number of votes to elect directors by calculating the Total number of shares held multiplied by the number of directors being elected Total number of shares held divided by the number of directors being elected Total number of shares held divided by the total number of outstanding shares Total number of shares held minus the number of directors being elected Question 50 1 pts Most agency relationships, including employment situations, involve principals. O disclosed O partially disclosed transparent O undisclosed