University of South Carolina: ACCT 324 Connect Questions (Prof Hughes) Chapters 1-3 & 13-20,100% CORRECT
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ACCT 324
Institution
ACCT 324
University of South Carolina: ACCT 324 Connect Questions (Prof Hughes) Chapters 1-3 & 13-20
CHAPTER 1
1: Connect Questions
Business law consists of that govern commercial relationships.
dominant systems and practices conventional channels
enforceable rules of conduct
tradi...
university of south carolina acct 324 connect questions prof hughes chapters 1 3 amp 13 20
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University of South Carolina: ACCT 324 Connect Questions (Prof
Hughes) Chapters 1-3 & 13-20
CHAPTER 1
1: Connect Questions
Business law consists of that govern commercial relationships.
dominant systems and
practices conventional
channels
enforceable rules of conduct
traditional regulatory bodies
Business law consists of the enforceable rules of conduct that govern
commercial relationships. In other words, buyers and sellers interact in market
exchanges within the rules that specify the boundaries of legal business
behavior.
A garment manufacturing company wants to shift from being a supplier to a
retailer. Which of the following will govern the legal aspects of this
decision?
Corporate
law
Business law
Administrative law
Employment
law
Business activities must follow legal guidelines. All contracts, employment
decisions, and payments to a
supplier are constrained and protected by business law. Each of the six
functional areas of business: management, production and transportation,
marketing, research and development, accounting and finance, and human
resource management; sits on a foundation of business law.
Which of the following is an intended and essential purpose of law?
To impose checks on
citizens. To demand
respect.
To rely upon the goodwill of others.
, To encourage social justice.
The purposes of law include: providing order such that one can depend on a
promise or an expectation of obligations, serving as an alternative to fighting,
facilitating a sense that change is possible, but only after a rational
consideration of options, encouraging social justice, guaranteeing personal
freedoms, and serving as a moral guide by indicating minimal expectations of
citizens and organizations.
The difference between civil law versus criminal law is that, the
guilty defendant of a: civil case is never incarcerated.
criminal case is always incarcerated.
civil case is either incarcerated or required
to pay a fine. criminal case is never required
to pay a fine.
,Guilty defendant of a civil case is never incarcerated. Typically, if defendant is
found guilty, the victim receives some sort of compensation
Which of the following laws would govern a dispute between a tenant and
a landlord over payment of rent?
Public law
Private law
Commercial law
Corporate law
Private law regulates disputes between private individuals or groups.
A restaurant regularly overfills trash cans in the alley and improperly
disposes left-over meat and other perishables. Which of the following
laws will regulate this incident?
Private law
Criminal and
public law Public
and civil law
Public law
Public law controls disputes between private individuals or between groups and
their government.
The U.S. Code contains legislative acts passed by the .
Senate
U.S. Congress
President
House of Representatives
Legislative acts are written into the United States Code when they are passed by
Congress.
Which of the following laws is defined as, “A collection of rules and laws put
forth by legislating bodies”?
Constitutional law
Common
, law
Statutory law
Administrative law
A collection of rules and regulations put forth by legislating bodies; considered the
primary law under the constitution.
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