business law fall final

healthcare emphasized

1980s ethical climate

bribes and illegal contracting

1980s ethical dilemma

remaining calm and patient in a special case

According to Judge Parker, which of the following is an ethical behavior of lawyers

reserve requirements

Are regulations requiring commercial banks to keep a certain percentage of the money customers deposited on reserve each night

S Corporations

Avoid the "double taxation" concept because all income or loss is reported only once on the personal tax returns of the stockholders

centralized management

Consists of higher management communicating decisions to lower tiers

c corporations

Contain key workers consisting of directors, officers and shareholders -best for international businesses -best for businesses operating with high-risk industries

double taxation

Corporate income taxes are paid on profits and on stockholders' personal income on dividends

Equal Employment Opportunity Commission

EEOC stands for which of the following

OSHA

Federal agency regulating and investigating workplace incidents

workplace politics

Games played in a workplace environment to achieve status, advancement and money

US court of appeals

Has nationwide authority in areas including: -international trade -government contracts -patents -trademarks -specific money claims against the U.S. government

subpoena

Is a formal court order requiring a witness to appear in court

specific performance

John and Jane signed a contract for the sale of John's car. Jane breached the contract, so John sued her. The court is requiring Jane to fulfill the original contract. This is known as which of the following

business ethics

Professional standards of conduct, based on moral principles and values, guiding decision-making and actions

true

T or F: Capital is wealth in the form of money or property

true

T or F: Common law is based on precedents established by judges' decisions.

false

T or F: Selecting the best choice is final step of the ethical decision-making process

true

T or F: The Small Business Administration provides low-cost loans, advice and other assistance to small businesses.

false

T or F: The government discourages competition among businesses

6.5%

The Federal Reserve seeks an unemployment rate below _____________ percent

Allowed the government to break up companies with control of a market

The Sherman Antitrust Act of 1890 did which of the following

right-to-work laws

The Taft-Hartley Act of 1947 legalized which of the following

abuse of service

The use of civil service procedure for illegal reasons

False

Tor F: Amendment XIV to the U.S. Constitution in 1868 resulted in the prohibition of pay discrimination on the basis of sex

learn from the result

What is the last step of the ethical decision-making process

1915

What year was the Federal Trade Commission established

collective bargaining

When union representatives and management come together to discuss issues arising between employees and employers

in the 1970s

When was the Ethics Resource Center (ERC) established

Brown v. Board of Education

Which U.S. Supreme Court case involved a family suing a school system saying the segregation of schools was unfair and was hurting children

state courts

Which courts decide more than 95 percent of the nation's legal cases

Remain open-minded

Which of the following did Judge Parker NOT mention as one of the principles of ethics

Irrelevant and unimportant information should also be included when defining a problem.

Which of the following is INCORRECT when making an ethical decision

Amendment XIV to the U.S. Constitution in 1868

Which of the following is NOT a government regulation created to protect employees from unethical business practices

T corporation

Which of the following is NOT a type of corporation

Consumer Price Fixing Commission

Which of the following is NOT an agency which protects consumers

Encourages deceptive advertising

Which of the following is NOT an ethical issue raised due to technological advances in the workplace

When caring for a great-aunt or great-uncle with a serious medical condition

Which of the following is NOT an example of a situation in which an employee can apply the Family and Medical Leave Act of 1993

Employment contingent upon passing a drug screening

Which of the following is NOT an example of unethical behavior occurring in the workplace

Established codes of conduct and value statements

Which of the following is a business ethics development from the 1960s

must follow the parent companies business structure

Which of the following is a disadvantage of a franchise

tariff

Which of the following is the term for a special tax placed on foreign goods sold in the United States

What can we learn from this process?

Which of the following questions should NOT be asked during the step of identifying an ethical problem

make a choice based on company's profits

Which of the following should a person NOT do when facing an ethical dilemma

C corporation

Which type of corporation is subject to double taxation method

common laws

are based on precedents established by a judges decisions; began in england

issue of fact

argument between the two parties regarding the events which took place and caused the lawsuit to arise

moral behavior

conduct in accordance with what a person determines is right versus wrong

appellate courts

considered a reviewing court and determine appeals from the decisions of the trial courts; are generally called Supreme Courts of the State as they are the highest level of court system within a state

Tinker v. Des Moines, Iowa

court case that involved the right to freedom of speech

stakeholder

defined as "all the parties which interact with the business"

monetary policy

determines the size and rate of growth of the money supply

Legal actions are a responsibility of the corporation

explains the capacity to contract

trial court

hear all criminal cases other than minor offenses; can also be called county, district, superior, circuit or common pleas courts; keep thorough formal records of proceedings in order to have documentation if needed for appeals; do not have a limitation on the dollar amount of damages

affirm

keep the decision of the lower court in effect

staturory law

laws that are written by the legislative branch

claim

legal demand of an asset or right which one party owes another

financial cushion

money in savings which can pay expenses when income may not be accumulating

equity capital

money raised by a business or investor in exchange for a share of ownership of the company

breach of contract

occurs when one party intentionally or unintentionally does not fulfill their contractual obligations

The Age Discrimination in Employment Act of 1967

prohibits employment discrimination toward persons 40 years of age or older -applies to companieswith 15 or more employees

Writ of Certiorari

request made by an appellate court to reexamine the case

attachment

seizing of money or property prior to judgment in court

remand

send the judgment back to the lower court

the pleading

series of formal, written statements in which the plaintiff and defendant both state claims for defense regarding the matter being disputed

equity capital

the money raised by a business or investor in exchange for a share of ownership in the company

garnishment

used to collect a debt from a third party rather than directly from the defendant

angel investors

wealthy individuals who seek high returns through private investments

ethical dilemma

when people in business encounter a complex situation in which they have difficulty choosing between a moral and an immoral act

public watchdog

which of the following did Bryan Mudd use as an analogy to describe news reporters