BLAW 371 EXAM 1 MC QUESTIONS AND ANSWERS
Which area of law is most likely to impact directly the finance and accounting depts of a
company? - answers -credit regulation
What issues may impact a company's operations? - answers -international, political,
ethical, and legal issues
Generally recognized as best definition of law? - answers -body of rules of action or
conduct prescribed by controlling authority, and having binding legal force. That which
must be obeyed and followed by members fo a society subject to sanctions or legal
consequences. The circumstances in which the public force is brought to bear through
the courts. A rule of conduct that justifies a prediction that it likely will be enforced by the
courts its authority is challenged
Accepted definition of law? - answers -body of rules of action or conduct prescribed by
controlling authority, and having binding legal force
Accepted definition of law - answers -that which must be obeyed and followed by
members of a society subject to sanctions or legal consequence
In an orderly society, law and the legal system help to: - answers -influence the
behavior of members of society, resolve disputes, maintain the important values of
society, and provide a way for important social changes to take effect
Enforcement of law in a society in important because it - answers -provides some
predictability and uniformity to the boundaries of acceptable conduct
What are part of the rules that govern behavior in most nations? - answers -formal
rules, informal rules, social customs, and ethics
Both ______ and ______ are part of the rules that govern behavior in most nations -
answers -formal rules and informal rules
Both ____ and ____ are part of the rules that govern behavior in most nations -
answers -customs and ethics
Which is a part of the rules that govern behavior in most nations? - answers -social
customs
Which are part of the rules that govern behavior in most nations? - answers -ethics,
statutory law, social customs, administrative rules
Which area of law is most likely to impact directly the finance and accounting depts of a
company? - answers -credit regulation
What issues may impact a company's operations? - answers -international, political,
ethical, and legal issues
Generally recognized as best definition of law? - answers -body of rules of action or
conduct prescribed by controlling authority, and having binding legal force. That which
must be obeyed and followed by members fo a society subject to sanctions or legal
consequences. The circumstances in which the public force is brought to bear through
the courts. A rule of conduct that justifies a prediction that it likely will be enforced by the
courts its authority is challenged
Accepted definition of law? - answers -body of rules of action or conduct prescribed by
controlling authority, and having binding legal force
Accepted definition of law - answers -that which must be obeyed and followed by
members of a society subject to sanctions or legal consequence
In an orderly society, law and the legal system help to: - answers -influence the
behavior of members of society, resolve disputes, maintain the important values of
society, and provide a way for important social changes to take effect
Enforcement of law in a society in important because it - answers -provides some
predictability and uniformity to the boundaries of acceptable conduct
What are part of the rules that govern behavior in most nations? - answers -formal
rules, informal rules, social customs, and ethics
Both ______ and ______ are part of the rules that govern behavior in most nations -
answers -formal rules and informal rules
Both ____ and ____ are part of the rules that govern behavior in most nations -
answers -customs and ethics
Which is a part of the rules that govern behavior in most nations? - answers -social
customs
Which are part of the rules that govern behavior in most nations? - answers -ethics,
statutory law, social customs, administrative rules
