Bus Ethics
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3 Courts, CHAPTER Sources of Law, and Dispute Resolution TRUE-FALSE QUESTIONS 1. Federal judges are appointed for life. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 2. Court opinions are published in collections of court opinions called reporters. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 3. A cite such as 2004 WL 1208516 may be found on Westlaw. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 4. State trial courts generally have limited jurisdiction. ANSWER: False SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 5. There is no minimum monetary requirement for lawsuits involving a federal question. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 6. For diversity jurisdiction to exist there must be litigants from at least three different states. ANSWER: False SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 7. Jurisdiction over the location of property at issue in a lawsuit is called in rem jurisdiction. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 8. Negotiating business contracts by means of telephone calls or the mail is insufficient to provide state court with personal jurisdiction over an individual so long as the individual is out-of-state when such 32 33 MANAGERS AND THE LEGAL ENVIRONMENT contacts are made. ANSWER: False SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 9. Parties may never agree in advance which law will govern a dispute in the event that one develops. ANSWER: False SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 10. Federal regulations and rules are printed in the Code of Federal Regulations which is revised and updated on a yearly basis. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 11. The process of questioning the witnesses is
3 Courts, CHAPTER Sources of Law, and Dispute Resolution TRUE-FALSE QUESTIONS 1. Federal judges are appointed for life. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 2. Court opinions are published in collections of court opinions called reporters. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 3. A cite such as 2004 WL 1208516 may be found on Westlaw. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 4. State trial courts generally have limited jurisdiction. ANSWER: False SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 5. There is no minimum monetary requirement for lawsuits involving a federal question. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 6. For diversity jurisdiction to exist there must be litigants from at least three different states. ANSWER: False SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 7. Jurisdiction over the location of property at issue in a lawsuit is called in rem jurisdiction. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 8. Negotiating business contracts by means of telephone calls or the mail is insufficient to provide state court with personal jurisdiction over an individual so long as the individual is out-of-state when such 32 33 MANAGERS AND THE LEGAL ENVIRONMENT contacts are made. ANSWER: False SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 9. Parties may never agree in advance which law will govern a dispute in the event that one develops. ANSWER: False SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 10. Federal regulations and rules are printed in the Code of Federal Regulations which is revised and updated on a yearly basis. ANSWER: True SKILL LEVEL: AACSB Analytic OBJECTIVE: AICPA Legal 11. The process of questioning the witnesses is