Commercial Law MCQ PDF

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36 Chapters
2300 Verified Questions
 Commercial Law
MCQ PDF
Cou
Commercial Law provides students with an in-depth understanding of the legal

principles and frameworks that govern business transactions and commerce. The

course covers key topics such as the formation, interpretation, and enforcement of

contracts, the sale of goods, agency relationships, negotiable instruments, and the

regulation of secured transactions. Students will also examine relevant case law and

statutory provisions, including consumer protection and dispute resolution mechanisms

in commercial settings. Through practical case studies and real-world examples, the

course equips learners with the analytical skills necessary to navigate legal challenges

faced by businesses in national and international contexts.

Recommended Textbook
Business Law Text and Cases Commercial Law for Accountants 14th Edition by Roger LeRoy Mille

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36 Chapters
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2300 Flashcards
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Page 2
 Chapter 1: Business Ethics
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Sample Questions
Q1) Ethical reasoning is the process through which an individual rationalizes whatever
action he or she chooses to take.
A)True
B)False
Answer: False

Q2) Codes of ethical conduct can indicate how employees are expected to act.
A)True
B)False
Answer: True

Q3) If people merely comply with the law, they are acting at the lowest ethical level
society will tolerate.
A)True
B)False
Answer: True

Q4) Adhering strictly to all business laws is all that is necessary to fulfill all business
ethics obligations.
A)True
B)False
Answer: False

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Page 3
 Chapter 2: Small Businesses and Franchises
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Sample Questions
Q1) Paradise Footwear buys a franchise from Quad Shoes Inc. This relationship, like all
other franchise relationships, is governed by
A) contract law.
B) no law.
C) the Franchise Disclosure Document, or FDD.
D) the Automobile Dealers' Day in Court Act.
Answer: A

Q2) The duration of a franchise is determined by federal or state statutes.

A)True
B)False
Answer: False

Q3) The law considers all new businesses to be sole proprietorships regardless of the
number of owners.
A)True
B)False
Answer: False

Q4) Anyone who does business must create a separate business organization.
A)True
B)False
Answer: False

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answers,
 Chapter 3: All Forms of Partnerships
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Sample Questions
Q1) Brad and Carol are partners in Doctors for Children, a medical clinic. Brad's
dissociation from the firm results in
A) the automatic termination of the firm's legal existence.
B) the partnership's buyout of Brad's interest in the firm.
C) the immediate maturity of all partnership debts.
D) the temporary suspension of the partnership's business.
Answer: B

Q2) A third party can never sue one of the partners of a partnership without suing all
members of the partnership.
A)True
B)False
Answer: False

Q3) On a partner's dissociation, his or her right to participate in the management and
conduct of the business terminates.
A)True
B)False
Answer: True

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Page 5
 Chapter 4: Limited Liability Companies and Special

Business Forms
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Sample Questions
Q1) Oil Reserves, Inc., and Petro Corporation form a joint venture to design and test
petroleum storage facilities and equipment. When a dispute arises, Oil Reserves files a
suit against Petro. The court is most likely to apply the same principles to this joint
venture as it applies to
A) sole proprietorships.
B) limited liability companies.
C) corporations.
D) partnerships.

Q2) Jess and Keri are members of Livewire LLC, a limited liability company. In most
situations, with respect to Livewire's debts, Jess and Keri are shielded from
A) all liability.
B) no liability.
C) personal liability.
D) "corporate veil" liability.

Q3) Like the shareholders of a corporation, the owners of a limited liability company are
liable for the obligations of the firm to the full limit.
A)True
B)False

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Page 6
 Chapter 5: Corporate Formation and Financing
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Sample Questions
Q1) Ned and Olsen want to form and do business as a corporation-Pastries & Pies Inc. Its
existence depends generally on
A) city or county corporate codes.
B) the Entrepreneur's Corporate Handbook.
C) the federal Administrative Procedure Act.
D) state law.

Q2) The state can dissolve a corporation for failing to pay taxes.
A)True
B)False

Q3) Pro Audio, Inc., would like to change its corporate status to that of an S corporation.
To qualify, Pro Audio must
A) be a domestic corporation.
B) have more than one hundred shareholders.
C) be a benefit corporation.
D) all of the choices.

Q4) Express powers of a corporation can be found in state corporation statutes.

A)True
B)False

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Page 7
 Chapter 6: Corporate Directors, Officers, and Shareholders
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Sample Questions
Q1) Every shareholder is entitled to examine specified corporate records, but only in
person, not through an agent.
A)True
B)False

Q2) Refer to Fact Pattern 6-1.Any damages recovered by the suit will normally go to
A) Energy Renew's shareholders, excluding Don.
B) Energy Renew.
C) Energy Renew's directors.
D) Energy Renew's shareholders, including Don.

Q3) Shareholders must approve fundamental changes affecting a corporation.

A)True
B)False

Q4) Dane is a director of Eco Packing Company. Dane's rights, as a director, do not
include a right to
A) reimbursement.
B) inspection.
C) participation.
D) self-dealing.

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Page 8
 Chapter 7: Securities Law and Corporate Governance
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Sample Questions
Q1) Only the Securities and Exchange Commission can sue violators of Section 10(b) and
Rule 10b-5.
A)True
B)False

Q2) Most securities cannot be resold without registration.

A)True
B)False

Q3) State securities laws apply mainly to intrastate transactions.

A)True
B)False

Q4) Refer to Fact Pattern 7-3. Under the Securities Exchange Act of 1934, Geoff is most
likely
A) liable for insider trading.
B) not liable because Geoff is only a tippee, not a tipper.
C) not liable because Geoff is too far down the chain of disclosure.
D) not liable because Geoff traded on the basis of a material fact.

Q5) Anyone who wrongfully obtains inside information and trades on it for his or her
personal gain can be liable under SEC Rule 10b-5.
A)True
B)False
Page 9
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 Chapter 8: Tort Law
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Sample Questions
Q1) In a digital billboard ad, Mainstream Headwaters falsely accuses Northwest
Passages, a competitor, of selling stolen kayaks, canoes, and other boats and boating
gear. Northwest's sales decrease. Mainstream has most likely committed
A) defamation.
B) no tort.
C) slander of quality.
D) slander of title.

Q2) An individual's privacy is invaded if his or her likeness is used for commercial
purposes without permission.
A)True
B)False

Q3) Dixie, a driver for Express Delivery Company, leaves the truck's motor running in
neutral and carelessly forgets to set the parking brake while she makes a delivery. The
truck rolls and crashes into a nearby gas station pump, igniting a fire that spreads
quickly to a construction site a block away. A burned wall collapses onto a crane, which
falls on Fazio, a bystander, and injures him. What must Fazio show to recover damages
from Express Delivery?

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Page 10
 Chapter 9: Agency Formation and Duties
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Sample Questions
Q1) An agency by estoppel arises when the principal's actions have created the
appearance of an agency that does not in fact exist.
A)True
B)False

Q2) An agency relationship created for an illegal purpose is enforceable.

A)True
B)False

Q3) An agency relationship is enforceable even if it is created for a purpose that is

contrary to public policy.
A)True
B)False

Q4) Refer to Fact Pattern 9-2.Garage Door authorizes Homer to sell garage door
upgrades and accessories at the buyers' locations at prices that Homer negotiates with
those buyers. With respect to sales at those locations, Homer is
A) an independent contractor.
B) an employee only.
C) an employee and agent.
D) a principal.

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Page 11
 Chapter 10: Agency Liability and Termination
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Sample Questions
Q1) On March 1, Eugene retains Farley to act as his authorized agent. On April 1, Eugene
dies. On April 2, before Farley knows of Eugene's death, he enters into a contract on
Eugene's behalf. The contract is
A) binding on Eugene's heirs.
B) binding on Farley.
C) void.
D) voidable.

Q2) If a principal is undisclosed, the agent may be liable to the principal for a third
party's nonperformance of a contract.
A)True
B)False

Q3) Giving an agent a power of attorney confers express authority.

A)True
B)False

Q4) If the principal petitions for bankruptcy, the agency is usually terminated.
A)True
B)False

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Page 12
 Chapter 11: Employment, Immigration, and Labor Law
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Sample Questions
Q1) Danielle takes temporary family leave from her job at Equipment Rentals & Sales
Company to care for a newborn baby. With respect to Danielle's health-care coverage,
during the leave, under the Family and Medical Leave Act, Equipment Rentals & Sales
must
A) continue it.
B) suspend it.
C) terminate it.
D) add the baby to it.

Q2) An employer can exclude persons from employer-provided health-insurance

coverage for preexisting conditions.
A)True
B)False

Q3) Workers are eligible for unemployment compensation even if they were fired for
misconduct or voluntarily left their jobs.
A)True
B)False

Q4) Children under fourteen years of age are not allowed to work.
A)True
B)False

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Page 13
 Chapter 12: Employment Discrimination
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Sample Questions
Q1) Nell, a member of a protected class, applies for a job with Origami Paper
Corporation, but fails the company's employment test and is not hired. Nell believes that
the test has an unintentionally discriminatory effect. If so, this is
A) a constructive discharge.
B) disparate-impact discrimination.
C) disparate-treatment discrimination.
D) not discrimination.

Q2) Gil and Hera are employees of IT Business Solutions, Inc. Under the Equal Pay Act, IT
Business Solutions can legitimately pay different wages on the basis of
A) merit.
B) job descriptions.
C) substantial equality of skill, effort, and responsibility.
D) gender.

Q3) Under the Age Discrimination in Employment Act, a plaintiff must prove that he or
she was replaced by a person of the protected class.
A)True
B)False

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Page 14
 Chapter 13: The Formation of Sales and Lease Contracts
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Sample Questions
Q1) Fresh Dairy, Inc., is the offeror and Gelato Ice Cream Company is the offeree under a
unilateral sales contract in which Hector's Helado Corporation is also interested. Gelato is
not notified of Fresh Dairy's performance within a reasonable time. Gelato
A) may treat the offer as having lapsed.
B) must assume that Fresh Dairy has started to perform.
C) must contact Fresh Dairy.
D) must notify Hector's.

Q2) A lessor is a party who acquires a right to the possession and use of goods under a
lease.
A)True
B)False

Q3) A contract for the sale of minerals is considered to be a contract for the sale of
goods if the severance is to be made by the seller.
A)True
B)False

Q4) For an item to be characterized as a "good" under the UCC, it must be intangible.
A)True
B)False

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Page 15
 Chapter 14: Performance and Breach of Sales and Lease

Contracts
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Sample Questions
Q1) If goods identified to a contract are destroyed through no fault of either party, both
parties are excused from performance.
A)True
B)False

Q2) Steel Buildings, Inc., agrees to sell four portable garages to Truck Service Center. Five
days later, the buyer refuses delivery and cancels the contract. The seller is entitled to
A) force the buyer to accept the garages.
B) recover any damages from the buyer but not resell the garages.
C) resell the garages and recover any damages from the buyer.
D) resell the garages but not recover any damages from the buyer.

Q3) Fuel Connector Products, Inc., agrees to sell Go-Flo, Inc., a certain quantity of hose
couplings and fittings, but the contract does not specify a place of delivery. Go-Flo is
expected to pick up the goods. The place of delivery is
A) Fuel Connector's place of business.
B) Go-Flo's place of business.
C) the current location of the hose couplings and fittings.
D) the U.S. Postal Service office nearest to Go-Flo's place of business.

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Page 16
 Chapter 15: Negotiable Instruments
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Sample Questions
Q1) Instruments that say nothing about when payment is due are payable on demand.
A)True
B)False

Q2) A statement in an instrument that payment can be made only out of a particular
fund renders it nonnegotiable.
A)True
B)False

Q3) Oren signs an instrument payable to the order of Pay-Out Loans, Inc., "on or before"
June 15. This instrument is
A) negotiable.
B) not negotiable, because the maker can move up the payment date.
C) not negotiable, because moving up the payment date is optional.
D) not negotiable, because the exact payment date cannot be determined from the
face of the instrument.

Q4) The transfer of a negotiable instrument from one person to another is governed by
Article 2 of the Uniform Commercial Code.
A)True
B)False

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Page 17
 Chapter 16: Transferability and Holder in Due Course
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Sample Questions
Q1) Avril receives a payroll check from Business Solutions, Inc., and indorses it by signing
her name on the back of the check. This is
A) a blank indorsement.
B) a qualified indorsement.
C) a restrictive indorsement.
D) a special indorsement.

Q2) A transfer by assignment can make it possible for a transferee to receive more rights
in the instrument than the prior possessor had.
A)True
B)False

Q3) An indorser who does not wish to be liable on an instrument can use a qualified
indorsement.
A)True
B)False

Q4) An instrument can only be transferred by negotiation.

A)True
B)False

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Page 18
 Chapter 17: Liability, Defenses, and Discharge
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Sample Questions
Q1) The dishonor of an instrument relieves secondary parties of liability.
A)True
B)False

Q2) When there is a breach of an underlying contract for which an instrument was
issued, the drawer of a check can order his or her bank to stop payment.
A)True
B)False

Q3) Community Bank receives a check drawn by Dennis. The check lacks a proper
indorsement. Payment can be postponed without dishonor
A) indefinitely.
B) under no circumstances.
C) for thirty days.
D) until the proper indorsement is obtained.

Q4) A person is not liable on an instrument unless he or she has signed it personally or
through an authorized representative.
A)True
B)False

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Page 19
 Chapter 18: Banking in the Digital Age
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Sample Questions
Q1) Dhani signs a check "pay to the order of Eton" drawn on Dhani's account in Fidelity
Guaranty Bank and dates the check "May 1." Eton presents the check to the bank for
payment on December 15. This is
A) an oversight.
B) an overdraft.
C) a certified check.
D) a stale check.

Q2) A bank is not obligated to pay an uncertified check presented less than six months
from its date.
A)True
B)False

Q3) Ken presents an instrument that states "pay to the order of Laura" to MegaBank for
payment. This instrument is the most common type of negotiable instrument, which is
A) a certificate of deposit.
B) a check.
C) a note.
D) a payment via a mobile device.

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Page 20
 Chapter 19: Creditors Rights and Remedies
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Sample Questions
Q1) Countryside Bank provides Dhani with a standard mortgage with an unchanging rate
of interest to buy a home. Payments on the loan remain the same for the duration of the
mortgage. This is
A) a fixed-rate mortgage.
B) an adjustable-rate mortgage.
C) a workout agreement.
D) a violation of the law.

Q2) Jay is a surety for Karen's loan from Little Bank. Jay's right to be reimbursed by Karen
after having paid her debt is the right of
A) contribution.
B) redemption.
C) reimbursement.
D) subrogation.

Q3) If a debtor does not pay a mechanic's lien, the debtor's property can be sold to
satisfy the debt.
A)True
B)False

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Page 21
 Chapter 20: Secured Transactions
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Sample Questions
Q1) Article 9 of the Uniform Commercial Code governs secured transactions.
A)True
B)False

Q2) A financing statement must include the creditor's signature.

A)True
B)False

Q3) Refer to Fact Pattern 20-1.Suppose that two weeks after GLC takes possession of the
equipment, Business Finance and Commercial Bank file financing statements, with
Interstate filing first. In that circumstance, the party with priority to the equipment is
A) GLC.
B) Business Finance and Commercial Bank proportionately.
C) Business Finance only.
D) Commercial Bank only.

Q4) A purchase-money security interest in consumer goods is created when a person

buys the goods on credit.
A)True
B)False

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Page 22
 Chapter 21: Bankruptcy Law
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Sample Questions
Q1) A trustee has the power to avoid preferences.
A)True
B)False

Q2) Builders Construction files a voluntary petition for bankruptcy. In listing its assets,
Builders intentionally omits certain assets, including plots of undeveloped real estate.
After Builders is granted a discharge, Commercial Electric, one of Builders' unsecured
creditors whose claims were discharged, learns of the fraud. Commercial Electric can
A) do nothing.
B) enforce its claim against Builders.
C) file an involuntary petition for bankruptcy against Builders.
D) take possession of the stones with or without a breach of the peace.

Q3) In the majority of states, debtors may use only federal, not state, exemptions to
exempt certain property from the bankruptcy.
A)True
B)False

Q4) A repayment plan case can be initiated by the conversion of a liquidation petition.
A)True
B)False

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Page 23
 Chapter 22: Professional Liability and Accountability
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Sample Questions
Q1) A professional can be liable for constructive fraud only if he or she acted with
fraudulent intent.
A)True
B)False

Q2) In most courts, accountants are subject to liability for negligence only to their clients.
A)True
B)False

Q3) Everett is an accountant whose clients include Finance & Capital, Inc. Under the
Ultramares rule, if Everett is negligent in his work for Finance & Capital, he could be liable
to Finance & Capital and
A) any third party.
B) no third party with whom the accountant is not in privity or "near privity."
C) third parties who are foreseen users of the work.
D) third parties who are reasonably foreseeable users of the work.

Q4) An accountant is not liable for a false statement that affects the price of a security if
the buyer or seller of the security knew the statement was false.
A)True
B)False

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Page 24
 Chapter 23: Administrative Agencies
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Sample Questions
Q1) The Environmental Protection Agency (EPA) discovers that Fish Farms, Inc. has
violated an EPA regulation. If no settlement is reached, the EPA can
A) issue a formal complaint against Fish Farms.
B) do nothing.
C) take the matter to the U.S. Supreme Court.
D) immediately impose sanctions on Fish Farms.

Q2) The most critical activity of an administrative agency is to spend more funds than
are allocated to it.
A)True
B)False

Q3) The Federal Aviation Administration uses notice-and-comment rulemaking. The final
rule in such a proceeding has binding legal effect
A) after a court affirms it.
B) until the next presidential election.
C) once Congress approves it.
D) unless a court overturns it.

Q4) Final administrative rules have binding legal effect.

A)True
B)False

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Page 25
 Chapter 24: Consumer Law
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Sample Questions
Q1) Hearth & Home Furniture store advertises bedroom suites at a "Special Low Price of
$599." When Ilene tries to buy one of the suites, Jill, the salesperson, tells her that they are
all sold and no more are obtainable. Jill adds that Hearth & Home has other bedroom
suites available for as low as $2,599. This is
A) a cease-and-desist order.
B) bait-and-switch advertising.
C) counteradvertising.
D) puffery.

Q2) Ads must disclose qualifying information underlying their claims.

A)True
B)False

Q3) Merchants must issue a refund within a specified period of time when a consumer
cancels an order.
A)True
B)False

Q4) When an advertising claim has the appearance of authenticity, it does not create
problems.
A)True
B)False

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Page 26
 Chapter 25: Environmental Protection
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Sample Questions
Q1) Air Power Corporation wants to build a wind plant on private land, for which a federal
permit is required. For this action, an environmental impact statement is
A) prohibited.
B) required.
C) unnecessary.
D) voluntary.

Q2) Persons who provide information about violators of the Clean Air Act may be paid up
to $10,000.
A)True
B)False

Q3) Wetlands may be filled or dredged without a permit from the U.S. Army Corps of
Engineers.
A)True
B)False

Q4) National Pollutant Discharge Elimination System permits can be issued even if a
discharge will violate water-quality standards.
A)True
B)False

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Page 27
 Chapter 26: Antitrust Law
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Sample Questions
Q1) Domestic Oil Company joins with a foreign cartel to control the price of oil. The cartel
has a substantial effect on U.S. commerce. A suit for violation of U.S. antitrust laws can be
brought against
A) Domestic Oil and the foreign cartel.
B) the foreign cartel.
C) Domestic Oil.
D) all of the choices.

Q2) Precision Parts Corporation and Aligned Gears, Inc., are competitors selling certain
machine parts that are otherwise generally unattainable in their geographic market. This
market includes the states of Minnesota, North Dakota, and South Dakota. Precision Parts
and Aligned Gears agree that Precision Parts will no longer sell in Minnesota and that
Aligned Gears will no longer sell in North and South Dakota. Have Precision Parts and
Aligned Gears violated any antitrust law? If so, which one? Explain. If they had divided
their market by type of customer rather than geographic are, would the result be the
same? Why or why not?

Q3) Territorial and customer restrictions are judged under the rule of reason.
A)True
B)False

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Page 28
 Chapter 27: Personal Property and Bailments
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Sample Questions
Q1) The implied warranties of merchantability and fitness for a particular purpose extend
to bailments that include rights to use the bailed goods.
A)True
B)False

Q2) Nan asks Otto if she can store her car in his garage while she serves in the U.S. Army.
He agrees. This is
A) a bailment.
B) accession.
C) a gift.
D) abandoned property.

Q3) Only tangible personal property can be bailed.

A)True
B)False

Q4) Angela is in good health and sound mind when she gives Brianna a quarter horse.
Brianna accepts. This is a gift
A) inter vivos.
B) causa mortis.
C) by accession.
D) by production.

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Page 29
 Chapter 28: Real Property and Landlord-Tenant Law
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Sample Questions
Q1) For a party to take by adverse possession, the party's possession must be peaceable,
and not hostile.
A)True
B)False

Q2) It is presumed that a co-tenancy is a tenancy in common unless there is specific

language indicating the intent to establish a joint tenancy.
A)True
B)False

Q3) Riley owns Sunnyvale Apartments. He promises his tenants that during the lease
term, neither he nor anyone with a superior title to the property will disturb the tenants'
use and enjoyment of the premises. This is
A) a tenancy at sufferance.
B) the covenant of quiet enjoyment.
C) the implied warranty of habitability.
D) a special warranty deed.

Q4) A joint tenant's sale of his or her interest terminates the joint tenancy.
A)True
B)False

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Page 30
 Chapter 29: Intellectual Property
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Sample Questions
Q1) Hua plots a new Iron Man adventure and carefully and skillfully imitates the art of
Marvel Comics to create an authentic-looking Iron Man graphic novel. Hua is not
affiliated with the owners of the copyright to Iron Man. Can Hua publish the novel as his
own work without infringing on the owners' copyright?

Q2) In 2017, Kelly writes Like the Wind, a novel about marathoners and ultra marathoners.
Kelly does not register the work with the appropriate government office. Under federal
copyright law, Kelly's work is protected
A) for ten years.
B) for twenty years.
C) for the life of the author plus seventy years.
D) until a revised or updated edition is issued.

Q3) Production techniques are not trade secrets.

A)True
B)False

Q4) Copyright protection is automatic-registration is not required.

A)True
B)False

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Page 31
 Chapter 30: Insurance
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Sample Questions
Q1) Global Reach, Inc., insures its real and personal property, as well as the lives of its key
employees, to protect its financial interest should some event undermine its security.
This is
A) risk management.
B) universal life.
C) coinsurance.
D) underwriting.

Q2) State law determines the status of all parties obtaining insurance.
A)True
B)False

Q3) Myles obtains a property insurance policy from Nova Insurance Company for Myles's
restored 1957 Chevy. Nova can cancel the policy
A) if Myles increases the risk assumed by the Nova.
B) if Myles files a claim under the policy.
C) if Myles appears as a witness in a case brought against Nova.
D) under no circumstances.

Q4) An insurance application is part of the insurance contract.

A)True
B)False

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Page 32
 Chapter 31: Wills and Trusts
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Sample Questions
Q1) In most states, a person must be twenty-one years of age to execute a valid will.
A)True
B)False

Q2) Edie holds title to Floyd's property under circumstances that, although nothing is
express, indicate this is apparently only for Floyd's benefit. This is
A) an illegal trust.
B) an living trust.
C) a resulting trust.
D) a testamentary trust.

Q3) A lapsed legacy will occur if the testator predeceases the gift.
A)True
B)False

Q4) A divorce necessarily revokes an entire will.

A)True
B)False

Q5) Per capita is a method of dividing an intestate share of an estate.

A)True
B)False

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Page 33
 Chapter 32: Digital Update:should Employees Have a Right

of Disconnecting
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Sample Questions
Q1) Park Electronics Ltd., a consumer products company, was established, and is based,
in Korea. Park bribes Filipino government officials to obtain favorable contracts. The U.S.
Securities and Exchange Commission charges Park with violations of the Foreign Corrupt
Practices Act. The firm
A) may be liable if it knew such acts violated U.S. law.
B) may be liable if its stock is traded on American stock exchanges.
C) is not liable because it is not a U.S. firm.
D) is not liable because the alleged violations did not occur in the U.S.

Q2) Predictive analytics in the digital realm focuses on

A) predicting certain behavior based on certain data.
B) analyzing certain data to predict digital developments.
C) analyzing certain predictions to monitor certain results.
D) predicting certain digital data based on reasoned analysis.

Q3) Personnel Resources Company considers using software to analyze employee

behavior with the goal of predicting wrongdoing. In this situation, the ethical focus is on
A) the success of the software.
B) sanctions for something yet to be done.
C) questions of privacy.
D) whether data mining should occur only online.

Page 34
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 Chapter 33: Digital Update: Revenge Porn and Invasion of

Privacy
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Sample Questions
Q1) Clear Coding Inc. provides its employees personal breaks of up to twenty minutes
per break. Under the Fair Labor Standards Act, Clear must
A) compensate its employees during their breaks.
B) not compensate its employees during their breaks.
C) record the breaks for review by the U.S. Department of Labor.
D) record and report the breaks to the U.S. Department of Labor.

Q2) Employer responsibilities and benefits under the Patient Protection and Affordable
Care Act are linked to the number of "full-time equivalent" employees. To avoid the
requirements of the act, there is evidence that some employers
A) reduce the hours of their employees.
B) employ part-time workers instead of full-time employees.
C) are urging unemployed Americans to remain out of the work force.
D) all of the choices.

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Page 35
 Chapter 34: Digital Update: Taxing Web Purchases
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Sample Questions
Q1) Maria borrows funds through the U.S. Department of Education (DOE) to pay for her
education. She defaults on the loan. In some states
A) any of the choices.
B) a lien can be placed on the debtor's real property to pay the debt.
C) the debt can be collected by garnishment of the debtor's bank account.
D) the debtor's professional license can be revoked.

Q2) Hailey, a U.S. citizen, buys John Lennon's piano from Kent, who is in Great Britain.
Particularly useful to Hailey, who would prefer to conduct this deal as a secured
transaction, is
A) Resale Weekly.
B) eBay.com.
C) Escrow.com.
D) Flippa.com.

Q3) Fred buys a car from Gina online. To assure that the car is delivered in the condition
promised, Fred
A) must trust the seller.
B) can use an escrow company.
C) must file a financing statement.
D) may take possession of different property of the seller as collateral.

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Page 36
 Chapter 35: Ethics Today:what Are an Attorneys

Responsibilities for Protecting Data Stored in a Cloud

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Sample Questions
Q1) The European Union (EU) has charged Google Inc. with promoting its
comparison-shopping service at the expense of its competitors. As a remedy, the EU
wants Google to change the way it shows its search results. The EU would order the
defendant to
A) display the most relevant services first.
B) maintain its core software unchanged.
C) cut traffic to its competitors.
D) crowdsource.

Q2) To reduce the emission of greenhouse gases, power companies are required to save
specified amounts of energy by
A) all of the states.
B) less than half of the states.
C) more than half of the states.
D) none of the states.

Q3) A business that acts to take advantage of the economic and political opportunities
offered by the climate change is acting
A) legally and ethically.
B) legally, but unethically.
C) illegally, but not unethically.
D) illegally and unethically. Page 37

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 Chapter 36: Digital Update:the Exploding World of Digital

Property
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Sample Questions
Q1) Pay-to-Buy.com, Inc. obtains a patent on an online payment system. The patent is
vaguely worded and overly broad. In evaluating the patent, a court is most likely to
A) have difficulty, resulting in Pay-to-Buy being targeted by patent trolls.
B) apply the patent broadly.
C) issue a vaguely worded protection order.
D) hold that Pay-to-Buy's business practices are illegal.

Q2) According to the United States Supreme Court,

A) Metro City can take a parking lot for a privately owned sports stadium.
B) all of the choices.
C) Laborville can condemn a vacant field for a private manufacturing plant.
D) Sleepyton can take residential property for a private corporate complex.

Q3) Bob owns a virtual asteroid near the virtual planet Cosmo in the virtual DeepSpace
universe. Property consists of a bundle of rights in anything that has an ascertainable
value and is subject to ownership. This definition encompasses
A) intangible objects used in virtual worlds like DeepSpace.
B) digital books, music libraries, and movie downloads.
C) all of the choices.
D) domain names and expensively created Web sites.

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Page 38