Exam 1: law, value creation, and risk management

Which of the following is true regarding the criminal law in China?

Which of the following recognizes that a firm's resources can be a source of sustained competitive advantage if they are valuable,rare,and imperfectly imitable by competitors,and have no strategically equivalent substitutes?

Which of the following is listed in the text as a component of managing risk in the harvesting stage of business development?

List four ways by which U.S.laws promote consumer welfare.

An insight of the "stakeholder" theory is that firms have relationships with many constituent groups.

Employee statements are a primary investigatory source when corporate wrongdoing is alleged.

Which of the following is a type of law referencing formal rules embodied in judicial decisions rendered by courts?

Which of the following is $\underline{not}$ one of the four primary public policy objectives of the laws and regulations applicable to U.S.business in the early twenty-first century?

Fact pattern 1-1 Susan,the general manager of ABC Company begins to hear rumors that corporate taxes are being computed improperly,and perhaps illegally.She calls her in-house counsel,Bob,to ask his advice.Bob recently went to work for ABC Company just after he finished law school.Susan hired him without experience because she did not have to pay him as much as more experienced lawyers.Bob advised Susan that rumors rarely indicate any type of violation but a preliminary investigation should be done to determine if potential problems exist.He advised her that if an investigation indicates the existence of problems,she should keep the information quiet and not report it to her superiors or to the ethics program at the company since she does not want to stir up trouble for herself or Bob.Bob also tells Susan to trust him to make any internal investigation needed because such investigations are best made by in-house counsel. -Refer to fact pattern 1-1.Which of the following is true regarding Bob's statement that any investigation should be undertaken by in-house counsel?

Which of the following is a way in which managers can help shape the legal environment in which they do business?

Which of the following is a term addressing the ability of a manager to communicate effectively with counsel and to work together to solve complex problems?

A legally astute manager understands that legal analysis is often ambiguous.

The Election Act of China gives business people the right to be elected as congresspersons.

Supervisory boards of large German corporations are elected entirely by the shareholders.

Lobbying legislators is one method by which managers can help shape the environment in which they do business.

Which of the following is a way in which U.S.business law promotes worker protection?

Congress rescinded the jurisdiction of which of the following agencies over advertising to children?