Business and Law Concepts

What is the primary purpose of law?

• To create confusion

• To maintain order

• To increase taxes

• To promote inequality

Which of the following is NOT a main source of law?

• Constitutional Law

• Statutory Law

• Administrative Law

• Personal Opinions

Criminal law deals with:

• Disputes between individuals

• Crimes against the state

• Business transactions

• Family matters

Which type of law is established by court decisions?

• Constitutional Law

• Statutory Law

• Administrative Law

• Case Law

Business ethics primarily ensures:

• Profit maximization

• Trust and fairness

• Legal compliance

• Market dominance

A sole proprietorship can be terminated by:

• Government intervention

• The owner's decision

• Shareholder vote

• Board of directors

A partnership requires a:

• Business license

• Partnership agreement

• Corporate charter

• Shareholder meeting

Civil law focuses on:

• a) Punishing offenders

• b) Resolving disputes

• c) Enforcing regulations

• d) Creating laws

Which of the following is an example of criminal law?

• Contract dispute

• Property dispute

• Theft

• Family law issue

Administrative law is created by:

• Courts

• Legislative bodies

• Administrative agencies

• The Constitution