F23 - Understanding the Legal and Tax Environment

Which source of law is considered the highest in the United States?

• Case Law

• Statutes

• Constitutions

• Administrative Regulations

Under the doctrine of stare decisis, what must courts typically follow?

• a) Precedent from prior decisions

• b) Statutory law

• c) Administrative regulations

• d) International treaties

What does UCC stand for in the context of business law?

• a) United Commerce Code

• b) Uniform Commercial Code

• c) United Corporate Charter

• d) Uniform Consumer Code

Which area of law deals with questions of justice, discrimination, and equal protection?

• a) Contract Law

• b) Employment Law

• c) Tort Law

• d) Administrative Law

What is the primary purpose of the Civil Rights Act?

• a) To protect businesses from lawsuits

• b) To promote discrimination in the workplace

• c) To prohibit discrimination based on protected classes

• d) To encourage disparate treatment in hiring

Which of these does the U.S. constitution do?

• Protect people from the government

• Protect people from other people

• Both of these

• Neither of these

Which of these does the Civil Rights Act do?

• Protect people from the government

• Protect people from other people

• Both of these

• Neither of these

What is the concept of "employment at will"?

• a) Employees can quit at any time, and employers can fire them for almost any reason.

• b) Employees can only be fired for specific reasons.

• c) Employees can only quit for specific reasons.

• d) Employees can only quit if they provide two weeks notice.

What branch of government shapes law through regulatory agencies?

• a) Legislative

• b) Judicial

• c) Executive

• d) Administrative

How does the court system contribute to the development of common law?

• a) By enacting new statutes

• b) By interpreting existing statutes

• c) By issuing court rulings

• d) By creating administrative regulations