Business

4260 Words Jun 20th, 2015 18 Pages
Chapter 1
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The Constitutional Foundations

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N.B.: TYPE indicates that a question is new, modified, or unchanged, as follows. N A question new to this edition of the Test Bank. + A question modified from the previous edition of the Test Bank, = A question included in the previous edition of the Test Bank. |

TRUE/FALSE QUESTIONS

1. State laws are the supreme law of the United States. ANSWER: F PAGE: 2 type: N BUSPROG: Analytic LO: 1-1 Bloom’s: Knowledge DIF: Easy AICPA: BB-Legal 2. The federal government and the states have
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Equity is a branch of law, founded in justice and fair dealing, which seeks to supply a remedy when no adequate remedy at law is available. ANSWER: T PAGE: 7 type: N BUSPROG: Analytic LO: 1-3 Bloom’s: Knowledge DIF: Easy AICPA: BB-Legal 17. Criminal acts are prohibited only by federal government statutes. ANSWER: F PAGE: 8 type: N BUSPROG: Analytic LO: 1-3 Bloom’s: Comprehension DIF: Moderate AICPA: BB-Legal 18. Government authorities cannot enforce national law. ANSWER: F PAGE: 9 type: N BUSPROG: Analytic LO: 1-3 Bloom’s: Comprehension DIF: Moderate AICPA: BB-Legal 19. Article I, Section 8, of the U.S. Constitution permits Congress to regulate interstate commerce. ANSWER: T PAGE: 11 TYPE: N BUSPROG: Analytic LO: 1-4 Bloom’s: Knowledge Dif: Moderate AICPA: BB-Legal 20. Preemption occurs when Congress chooses to act exclusively in a concurrent area and a valid federal statue or regulation takes precedence over a conflicting state or local law. answer: T PAGE: 14 type: N BUSPROG: Analytic LO: 1-4 Bloom’s: Comprehension Dif: Moderate

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