Multiple Choice ACCT324

If you decide to go into business on your own, you are creating a sole ________, an unincorporated business organization in which you, as the sole owner, are in compete control of the management and profits of the business

proprietorship

A _______ power of attorney grants the agent express authority over specifically-outlined acts, while a ______ power of attorney allows the agent to conduct all business for the principal

special; general

If an agent makes a(n)_________ departure from the course of the employer's business, the employer is not liable

substantial

If a third party is aware an agent is making an agreement on behalf of a principal, the principal is said to be

undisclosed

Disparate impact is often referred to as _____ discrimination

unintentional

If Occupational Safety and Health Act (OSHA) inspectors find violations in the workplace, they may issue citations. Penalties for violations may range from $0 to ____ per violation, depending on the likelihood that the violation would lead to serious injury to an employee

$70,000

The Age Discrimination In Employment Act of 1967 was enacted to prohibit employers from refusing to hire, discharging, or discriminating in terms and conditions of employment against employees or applicants age __ or older

40

Apparent agency is also known as _______

Agency by estoppel

Employees are ______ of an employer

Agents

When an agent breaches an agency contract or his fiduciary duties, the principal may use her right of ________ to nullify at her discretion any contract the agent negociated

Avoidance

If an agent has misrepresent herself, the third party may

Cancel the contract with the principal and be compensated for any money lost, or affirm the contract and sue the principal to recover damages

In a _______-style business operation, the franchise operates under the franchisor's business name and is required to follow the franchisor's standards and methods of business operation

Chain

Which of the following is a true statement regarding discrimination based on sexual orientation?

Currently, there is no federal legislation that prohibits discrimination based on sexual orientation

Which of the following is not an occurrence that will terminate an agency relationship?

Death, insanity, and bankruptcy

Proving disparate-treatment discrimination involves all but which of the following steps?

Dependent-Employer must demonstrate the existence and use of a legitimate affirmative action plan

Through the ______ method of franchising, the franchisor manufactures a product and licenses a dealer to sell it in an exclusive territory

Distributorship

A ________ power of attorney is a written document created by a principal, expressing his or her wishes for an agent's authority not to be affected by the principal's subsequent incapacity

Durable

Agency relationships can be created based on all but which of the following forms of authority?

Durable agency

____ sexual harassment cases occur when a supervisor makes a sexual demand on someone of the opposite sex and this demand is reasonably perceived as a "term or condition" of employment

Quid pro quo

If the Equal Employment Opportunity Commission decides not to sue, it notifies the plaintiff-employee of his/her right to file an action, and issues the plaintiff-employee a

Right-to-Sue letter

When a third party is aware an agent is making an agreement on behalf of a principal and also knows who the principal is, the principal is said to be

disclosed

In a(n) _____ partnership, partners divide the profits (usually equally) and management responsibilities and share unlimited personal liability for the firm's debts

general

An investment group that comes together for the explicit purpose of financing a specific large project is a(n) ____________

Syndicate

If a third party is able to establish employee negligence such that the employer is liable, the employer has the right to recover from the employee any damages he paid to the third party; such right to recover damages is referred to as the right of ________

indemnification

Disparate treatment is sometimes referred to as _____ discrimination

intentional

If an agent commits a crime in the scope of his or her employment without authoritzation from the principal, the principal is ________ liable for the crime

not

Which of the following occurrences is not covered by the Family and Medical Leave Act?

The care of a seriously ill friend

Under the Employee Retirement Income Security Act (ERISA), employers must provide pension and health plan participants with all but which of the following?

The option of selecting an employer-administered "defined benefit" plan

Which of the following is not a requirement for agency by ratification?

The principal must have incomplete knowledge of all material facts regarding the contract

Under the Family and Medical Leave Act (FMLA), an "eligible employee" is one who has worked at least ____ hours per week for each of the ____ prior to the leave

Twenty-five; twelve months

All but which of the following categories of employees are excluded from coverage under the Fair Labor Standards Act?

Wage employees

Under the Federal Unemployment Tax Act (FUTA,) ______ pay taxes to the _____, which deposit the money into the ___ government's Unemployment Insurance Fund

Employers, states, federal

An agency relationship is a(n) ________ relationship of trust, confidence, and good faith

Fiduciary

The Fair Labor Standards Act mandates that employees who work more than _______ hours in a week be paid no less than ______ times their regular wage for all hours they work beyond _____ during a given week

Forty (40); 1 1/2; forty (40)

Which of the following is classified as termination by "operation of law?"

Fulfillment of purpose

A _______ agent is one who acts without consideration

Gratuitous

To recover workers' compensation benefits, the injured party must demonstrate

He/she is an employee, and the injury occurred on the job

____ work environment is a recognized form of sexual harassment

Hostile

A(n) _______ is a person who contracts with another to do something for him/her, but who is not controlled by the other nor subject to the other's right to control with respect to his/her physical conduct in the performance of the undertaking

Independent contractor

What is not an advantage of the partnership?

Individual partner liability for all partnership losses

Which of the following is not a state-created exception to the employment-at-will doctrine allowing an employee to sue for wrongful discharge?

Quasi-contract

A _____ is a partnership agreement in which company members hold transferable shares while all the goods of the company are held in the names of the partners

Joint Stock company

Commonly-recognized defenses to claims under Title VII of the Civil Rights Act of 1964 include all but which of the following?

Judicial fiat

A _______ partnership is an agreement between at least one general partner and at least one limited partner

Limited

The first major piece of federal legislation adopted explicitly to encourage the formation of labor unions an provide for collective bargaining between employers and unions as a means of obtaining and peaceful settlement of labor disputes was the ____ Act

None of the above (so not Hoffa, Taft-Hartley, or Landrum-Griffin)

An S corporation cannot have more than _____ shareholders

One hundred

Which of the following is not a prohibited type of discrimination in violation of the Civil Rights Act of 1964?

Personal appearance

Which of the following is not an advantage of a sole proprietorship?

Proprietor is personally liable for all losses

In an agency relationship, the _____ is authorized to act for and on behalf of the ______, who hires the ________ to present him/her

agent, principle, agent

An agency ______ is a special kind of agency relationship created for the agent's benefit, not the principal's

coupled with an interest