environment of business test #5

The Age Discrimination in Employment Act forbids age-based discharge of employees over age

40

Public employees are protected from some drug testing by the ________ Amendment's prohibition against unreasonable searches.

4th

The formal application for a corporate charter is called the ________.

articles of incorporation

To prevent problems that may arise when a partner dies or withdraws from a partnership, the articles of partnership should include a(n) _______

buy and sell agreement

When organizations are owned by only a few persons, they are said to be ________.

closely held

As a creature of state legislative bodies, a ________ is much more complex to create and to operate than other forms of businesses

corporation

a(n)________ is any change in the ownership of an organization that changes the legal existence of the organization

dissolution

The ________ states that an employee's sole remedy against an employer for workplace injury or illness shall be workers' compensation.

exclusive remedy rule

Which of the following is the disadvantage of the corporate form of organization

exposure to taxation of both corporate earnings and stockholder dividend income

In internship programs under the Fair Labor Standards Act (FLSA), an intern is entitled to wages for the time spent in the internship

false

States may set minimum wage amounts that are lower, not higher, than the federal minimum r

false

The Fair Labor Standards Act (FLSA) requires breaks or meal periods to be given to workers

false

The Fair Labor Standards Act (FLSA) sets 16 years of age as the minimum age for employment

false

The right to a covered leave of absence under the Family and Medical Leave Act applies to employees the moment they begin employment

false

Under federal law, private employers generally are permitted to use lie detector tests while screening job applicants

false

a limited partnership is solely made up of limited partners

false

a sole proprietor has limited liability for the obligations of a proprietorship

false

although expensive to create in comparison with other forms of businesses, the use of sole proprietorships is becoming all the more common

false

corporate officers and directors do not owe fiduciary duties of care and loyalty to shareholders

false

family owned and family operated businesses are common examples of publicly held organizations

false

the internal revenue services treats limited liability companies as taxable entities

false

the three basic forms of business organizations are limited partnerships, s corporations, and limited liability companies

false

The Health Insurance Portability and Accountability Act

forbids group plans and issuers from excluding an employee from insurance coverage or requiring different premiums based on the employees health status, medical condition, or history, genetic info, or disability

in the context of factors to consider when selecting a business's organizational form, one of the most significant creation-related issues is

how long it will take to create a particular organization and how much paperwork is involved

The Fair Labor Standards Act (FLSA) addresses issues regarding

minimum wage, over time pay, and child labor

The use of sole proprietorships is very limited because

multiple owners cant create a proprietorship

The creation of a(n) ________ is automatic based on business conduct and is modified by agreement.

partnership

Technically, a(n) ________ is an agent appointed by a shareholder for the purpose of voting the shares.

proxy

One major purpose of the Fair Labor Standards Act is to provide

restrictions on child labor

Which of the following forms of organization requires no formal documentation but only business licenses for formation

sole proprietorship

If an employee's tips combined with the cash wage is inconsistent with the minimum hourly wage, ________

the employer must make up the difference

Under workers' compensation laws, _______

the negligence or fault of the employer in causing an on the job injury is not an issue.

29) The Fair Labor Standards Act (FLSA) requires employers to provide reasonable break time for nursing mothers.

true

An employer's publication of an employee handbook can change the nature of at-will employment.

true

In the context of employment-at-will, employers were able to discharge employees without cause at any time.

true

Liability of an employer exists regardless of lack of negligence or fault, provided the necessary association between the injuries and the business of the employer is present.

true

The Worker Adjustment and Retraining Notification (WARN) Act requires that employers give employees prior notice of plant closings or mass layoffs

true

The exclusive remedy rule does not protect employers who intentionally injure workers as workers' compensation laws apply only to accidentally injured worker

true

a business is likely to shift away from the proprietorship form as it becomes more successful

true

all partners in a general partnership have unlimited liability for their organizations debts

true

examples of publicly held businesses include those whose stock is traded on a public exchange

true

in a limited liability company (LLC), members act as agents of the LLC but are not personally liable to third parties

true

when a business is publicly held by a large number of owners, the form of organization usually is a corporation

true

when two or more persons with a common interest in business share profits and losses, a partnership exists

true

The discharge of an employee for reporting the employer's alleged violations of law is known as ________.

whistle blowing; employment at will