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Exam 21: Appendix A: Using Technology to Manage Information

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Question 61

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The FTC has jurisdiction over false or misleading advertising.

A) True
B) False

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Question 62

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Alcohol Labeling Legislation of 1988 provides for warning labels on liquor saying that minors should not drink.

A) True
B) False

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Question 63

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When the airline industry was deregulated in 1980 consumers benefited because airlines established new routes and charged lower fares.

Carlos has had a very successful year.His small-business corporation earned over $500,000.His company will have to pay part of its income to the federal government for income taxes.

Deregulation has always benefited consumers.

Filing for bankruptcy under the Chapter 11 provisions allows a company to reorganize and continue operations while paying only a proportion of its debts.

A company has to be insolvent before it can file for Chapter 11 bankruptcy.

James advertises in the newspaper to sell his used car for $6,000.Eric test drove the car and then offered James $5,400 for the car.In this case:

Without the permission of the inventor,Cheatum Automobile Manufacturing copied the engine design of an innovative competitor.Cheatum is guilty of:

A(n) _________ guarantees that the product you buy will conform to the customary standards of the trade/industry.

Unlike a patent,trademarks are not protected from infringement.

A contract is a legally enforceable agreement between two or more parties.

A patient injured through the negligence of a health care provider can be awarded compensation through the tort law system.

A bankruptcy allows creditors to get at least part of their money when there are assets available to divide among the creditors.

The Uniform Commercial Code establishes a standardized set of regulations for business transactions in all 50 states.

A patent gives inventors exclusive rights to their inventions for 20 years.

When your New Jersey based mail-order computer company sells to a customer in Illinois,the Uniform Commercial Code (UCC)will establish the legal requirements that your firm must follow.

A software development firm based in Florida and conducting business in Texas is unsure about the differences in state laws regarding business transactions.What body of laws standardizes interstate business regulations?

In 1978,a 13-year-old boy was severely burned in a rear-end collision involving a Ford Pinto.The case went to court and Ford was ordered to pay $125 million in punitive damages based on the legal principle of:

Congress prohibited discrimination against people with physical disabilities when they enacted the Americans with Disabilities Act.This is an example of common law.