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Corporations and Policies

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1) Unless the parties agree otherwise, a promoter of a corporation is liable for contracts entered into prior to corporate formation.
A. True
B. False

2) The mere formation of a corporation is not an absolute liability shield.
A. True
B. False

3) The purpose of SOX is to protect investors by improving the accuracy and reliability of corporate disclosures.
A. True
B. False

4) The Civil Rights Act of 1964 has several provisions, but the most important for businesses is known widely as:
A. Title I.
B. Title VIII.
C. Title II.
D. Title III.
E. Title VII.

5) Title VII eliminates job discrimination on the basis of all of the following EXCEPT:
A. sex.
B. race.
C. color.
D. age.
E. religion.

6) The philosophy of Milton Friedman is influential in all of the following, except:
A. Stakeholder theory
B. Shareholder theory
C. Free Market ethics
D. Friedman's philosophy is influential in all of the above.

7) Attributions of irresponsibility may generate stronger external reactions than perceptions of responsibility and, ultimately, have a much greater impact on the firm's relationship with its environment.
A. True
B. False

8) Title VII of the Civil Rights Act of 1964:
A. creates only three protected classes.
B. gives victims of discrimination the immediate right to file a federal lawsuit.
C. prohibits all types of discrimination.
D. requires employers to treat employees equally, but not identically.
E. applies to employers with more than 10 employees.

9) The Equal Employment Opportunity Commission (EEOC):
A. is a federal agency established by the Civil Rights Act of 1968.
B. publishes guidelines for the public sector to assist businesses in deciding what employment practices are lawful or unlawful.
C. enforces civil rights in the workplace.
D. investigates complaints filed by employers who believe they are victims of unlawful discrimination.
E. does not give victims of discrimination the immediate right to file a federal lawsuit.

10) Congress passed the _____, which gives victims the right to file a complaint within 180 days of their last discriminatory paycheck.
A. Lilly Ledbetter Fair Pay
B. Fair Labor Standards Act
C. Rehabilitation Act
D. Equal Pay Act
E. Paycheck Fairness Act

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Solution Summary

This solution provides the correct answers with explanations to the corporation and employment law questions listed. The main topics covered include Title VII of the Civil Rights Act, discrimination, Milton Freidman, the EEOC, and the FLSA.

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Answers to your study questions:

1) Unless the parties agree otherwise, a promoter of a corporation is liable for contracts entered into prior to corporate formation.
A. True <-- correct.
B. False

2) The mere formation of a corporation is not an absolute liability shield.
A. True <-- correct
B. False

3) The purpose of SOX is to protect investors by improving the accuracy and reliability of corporate disclosures.
A. True <-- correct, this is one of the main purposes of SOX.
B. False

4) The Civil Rights Act of 1964 has several provisions, but the most important for businesses is known widely as:
A. Title I.
B. ...

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