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Kaplan ACCT 503 Advanced Auditing Unit 4 Practice Exam Answers (17, 18, 19, 20)

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Question;Chapter 17 --Practice ExamMatching QuestionsMatch the following terms with their definitions:A. Term agreementB. Apparent authorityC. Agency at willD. A duty of an agentE. Implied authority 1. When two parties make no agreement in advance about the duration of their agreement2. When an agent has authority to do acts that are necessary to accomplish an assignment3. When two parties agree in advance on the duration of their agreement4. When behavior by a principal convinces a third party that the agent is authorized, even though she is not5. Duty of loyaltyTrue/False QuestionsCircle true or false:1. T F A principal is always liable on a contract, whether he is fully disclosed, unidentified, or undisclosed.2. T F When a contract goes wrong, a third party can always recover damages from the agent, whether the principal is fully disclosed, unidentified, or undisclosed.3. T F An agent may receive profits from an agency relationship even if the principal does not know about the profits, as long as the principal is not harmed.4. T F An agent may never act for two principals whose interests conflict.5. T F An agent has a duty to provide the principal with all information in her possession that she has reason to believe the principal wants to know, even if he does not specifically ask for it.Multiple-Choice Questions1. Someone painting the outside of a building you own crashed through a window, injuring a visiting executive. Which of the following questions would your lawyer not need to ask to determine if the painter was your servant?(a) Did the painter work full-time for you?(b) Had you checked the painter?s references?(c) Was the painter paid by the hour or the job?(d) Were you in the painting business?(e) Did the painter consider herself your employee?2. Which of the following duties does an agent not owe to her principal?(a) Duty of loyalty(b) Duty to obey instructions(c) Duty to reimburse(d) Duty of care(e) Duty to provide information3. Finn learns that, despite his stellar record, he is being paid less than other salespeople at Barry Co. So he decides to start his own company. During his last month on the Barry payroll, he tells all of his clients about his new business. He also tells them that Barry is a great company, but his fees will be lower. After he opens the doors of his new business, most of his former clients move with him. Is Finn liable to Barry?(a) No, because he has not been disloyal to Barry -- he praised the company.(b) No, because Barry was underpaying him.(c) No, because his clients have the right to hire whichever company they choose. (d) Yes, Finn has violated his duty of loyalty to Barry.4. Kurt asked his car mechanic, Quinn, for help in buying a used car. Quinn recommends a Ford Focus that she has been taking care of its whole life. Quinn was working for the seller. Which of the following statements is true?(a) Quinn must pay Kurt the amount of money she received from the Ford's prior owner.(b) After buying the car, Kurt finds out that it needs $1,000 in repairs. He can recover $1000 from Quinn, but only if Quinn knew about the needed repairs before Kurt bought the car.(c) Kurt cannot recover anything because Quinn had no obligation to reveal her relationship with the car?s seller.(d) Kurt cannot recover anything because he had not paid Quinn for her help5. Figgins is the dean of a college. He appointed Sue acting dean while he was out of the country and posted a message on the college web site announcing that she was authorized to act in his place. He also told Sue privately that she did not have the right to make admissions decisions. While Figgins was gone, Sue overruled the admissions committee to admit the child of a wealthy alumnus. Does the child have the right to attend this college?(a) No, because Sue was not authorized to admit him.(b) No, because Figgins was an unidentified principal.(c) Yes, because Figgins was a fully disclosed principal.(d) Yes, because Sue had apparent authority.6. CPA QUESTION A principal will not be liable to a third party for a tort committed by an agent:(a) Unless the principal instructed the agent to commit the tort(b) Unless the tort was committed within the scope of the agency relationship(c) If the agency agreement limits the principal?s liability for the agent?s tort(d) If the tort is also regarded as a criminal actChapter 18 --Practice ExamMatching QuestionsMatch the following terms with their definitions:A. Employee at will.B. Public policy rule.C. FLSA.D. Wrongful discharge.E. OSHA.F. Whistleblower. 1. A federal statute that ensures safe working conditions.2. When an employee is fired for a bad reason.3. An employee who discloses illegal behavior on the part of his employer.4. An employee without an explicit employment contract.5. A federal statute that regulates wages and limits child labor.6. An employer may not fire a worker for a reason that violates basic social rights, duties or responsibilities.True/False QuestionsCircle true or false:1. T F An employee may be fired for a good reason, a bad reason, or no reason at all.2. T F An employee may be fired if she disobeys a direct order from her boss not to join a labor union.3. T F Promises made by the employer during the hiring process are not enforceable.4. T F In some states, an employer is not liable for false statements they make about former employees unless they know these statements are false or are primarily motivated by ill will.5. T F The federal government has the right to inspect workplaces to ensure that they are safe.6. T F Any employer has the right to insist that employees submit to a lie detector test.7. T F Federal law limits the number of hours an employee can work.8. T F Children under 16 may not hold paid jobs. 9. T F Only workers, not their spouses or children, are entitled to benefits under the Social Security system.Multiple-Choice Questions1. Brook moved from Denver to San Francisco to take a job with an advertising agency. His employment contract stated that he was ?at will and could be terminated at any time.? After 28 months with the company, he was fired without explanation. Which of the following statements is true?(a) His contract implied that he could only be fired for cause.(b) Because he had a contract, he was not an employee at will.(c) He could only be fired for a good reason.(d) He could be fired for any reason.(e) He could be fired for any reason except a bad reason. NOTE: Choice A was his argument before the California Supreme Court, which rejected it.2. Under the FMLA:(a) Both men and women are entitled to leave from their jobs for childbirth, adoption, or a serious health condition of their own or in their immediate family(b) An employee is entitled to 12 weeks of paid leave. (c) An employee is entitled to leave to care for any member of his household, including pets.(d) An employee who takes a leave is entitled to return to the exact job she left.(e) All employees in the country are covered.3. Which of the following statements is true under the public policy doctrine:(a) An employee can be fired for any reason.(b) An employee can be fired for threatening a coworker.(c) An employee can be fired for filing a workers? compensation claim.(d) An employee can be fired for violating company policy even if he does so to save someone?s life.(e) An employee can be fired for refusing to lie under oath on the witness stand.4. A whistleblower is:(a) always protected by the law.(b) never protected by the law.(c) always protected when filing suit under the False Claims Act.(d) always protected if she is an employee of the federal government.(e) always protected if she works for a private company.5. Jack was furious when Hermione left the company in the middle of a very busy sales period. He promised that he would get even with her. Another employer called to check Hermione?s references. Which of the following statements should Jack make, if his goal is to limit his company?s potential liability?(a) Hermione was generally a good worker, but she was often late arriving at the office. (This is true.)(b) Hermione tried to run over a coworker with her car. (This is true.)(c) Hermione wore inappropriate clothing. (This is not true.)(d) Hermione doesn?t know her debits from her credits (This is not true.)(e) Hermione worked for this company for a year and a half. Her title was Chief Knowledge Officer. (This is true.)6. CPA QUESTION: An unemployed CPA generally would receive unemployment compensation benefits if the CPA:(a) Was fired as a result of the employer?s business reversals.(b) Refused to accept a job as an accountant while receiving extended benefits.(c) Was fired for embezzling from a client.(d) Left work voluntarily without good cause.Chapter 19 --Practice ExamMatching QuestionsMatch the following terms with their definitions:A. Equal Pay Act.B. Right to sue letter.C. ADEA.D. Title VII.E. ADA. 1. Statute that prohibits an employee from being paid at a lesser rate than employees of the opposite sex for equal work.2. Statute that prohibits employers from discrimination on the basis of race, color, religion, sex, or national origin.3. Permission from the EEOC for a plaintiff to proceed with his case.4. Statute that prohibits age discrimination.5. Statute that prohibits discrimination against the disabled.True/False QuestionsCircle true or false:1. T F In a disparate impact case, an employer may be liable for a rule that is not discriminatory on its face.2. T F Title VII applies to all aspects of the employment relationship, including hiring, firing, and promotion.3. T F If more whites than Native Americans pass an employment test, the test violates Title VII.4. T F Employers that have contracts with the federal government are required to fill a quota of women and minority employees.5. T F Employers do not have to accommodate an employee?s religious beliefs if doing so would impose an undue hardship on the business.Multiple-Choice Question1. Which of the following steps is not required in a disparate treatment case:(a) The plaintiff must file with the EEOC.(b) The plaintiff must submit to arbitration(c) The plaintiff must present evidence of a prima facie case.(d) The defendant must show that its action had a nondiscriminatory reason.(e) The plaintiff must show that the defendant?s excuse was a pretext.2. An employer can legally require all employees to have a high school diploma if:(a) All of its competitors have such a requirement.(b) Most of the applicants in the area have a high school diploma.(c) Shareholders of the company are likely to pay a higher price for the company?s stock if employees have at least a high school diploma.(d) The company intends to branch out into the high-tech field, in which case a high school diploma would be needed by its employees.(e) The nature of the job requires those skills.3. Which of the following employers has violated VII?(a) Carlos promoted the most qualified employee.(b) Hans promoted five white males because they were the most senior.(c) Luke refused to hire a Buddhist to work on a Christian Science newspaper.(d) Max hired a male corporate lawyer because his clients had more confidence in male lawyers.(e) Dylan refused to hire a woman to work as an attendant in the men?s locker room.4. Which of the following activities would not be considered sexual harassment?(a) Shannon tells Connor she will promote him if he will sleep with her.(b) Kailen has a screen saver that shows various people having sex.(c) Paige says she wants ?to negotiate Owen?s raise at the Holiday Inn.?(d) Nancy yells ?crap? at the top of her lungs every time her Rotisserie Baseball team loses.(e) Quid pro quo.5. Which of the following activities is legal under Title VII?(a) When Taggart comes to a job interview, he has a white cane. Ann asks him if he is blind.(b) Craig may refuse to hire Ben, who is blind, to work as a playground supervisor because its essential to the job that the supervisor be able to see what the children are doing.(c) Concerned about his company?s health insurance rates, Matt requires all job applicants to take a physical.(d) Concerned about his company?s health insurance rates, Josh requires all new hires to take a physical so that he can encourage them to join some of the preventive treatment programs available at the company.(e) Jennifer refuses to hire Alexis because her child is ill and she frequently has to take him to the hospital.Chapter 20-- Practice ExamMatching QuestionsMatch the following terms with their definitions:A. ULPB. ExclusivityC. Collective bargaining unitD. Union shopE. Concerted action 1. A specific group of employees that a union will represent.2. The union?s right to be the sole representative of workers. 3. Management interference with a union organizing effort.4. Picketing and strikes.5. Workers within specified categories are required to join the union.True/False QuestionsCircle true or false:1. T F The union and management are both obligated to bargain until they reach a CBA or a court declares the bargaining futile.2. T F Health benefits are a mandatory subject of bargaining.3. T F During the last two decades, labor unions have grown by about 15 percent in the United States.4. T F Workers are entitled to form a union whether management wants them to or not.5. T F While organizing, workers may not discuss union issues on company property, but may do so off the premises.Multiple-Choice Questions1. During a union organizing drive, management urges workers not to join the union, and discusses a competing company which lost business after a union was formed. Management(a) Committed a ULP by urging workers to reject the union, but did not do so by discussing a competing company.(b) Committed a ULP by discussing a competing company, but did not do so by urging workers to reject the union.(c) Committed a ULP both by urging workers to reject the union and by discussing a competitor.(d) Committed no ULP.(e) Has violated other sections of the NLRA.2. Which of these does the NLRA not protect?(a) Right to form a union.(b) Right to picket.(c) Right to strike.(d) Right to block nonunion workers from company property.(e) Right to bargain collectively.3. The CBA at Grey Corp. has expired, as has the CBA at Blue Corp. At Grey, union and management have bargained a new CBA to impasse. Suddenly, Grey locks out all union workers. The next day, during a bargaining session at Blue, management announces that it will not discuss pay increases.(a) Grey has committed a ULP but Blue has not.(b) Blue has committed a ULP but Grey has not.(c) Both Blue and Grey have committed ULPs.(d) Neither company has created a ULP.(e) Grey and Blue have violated labor laws, but not by committing ULPs.4. When the union went on strike, the company replaced Ashley, a union member, with Ben, a nonunion member. The strike is now over, and a Federal court has ruled that this was a ULP strike. Does Ashley get her job back?(a) The company is obligated to hire Ashley, even if that requires laying off Ben.(b) The company is obligated to hire Ashley unless that would require laying off Ben.(c) The company is obligated to hire Ashley only if Ben voluntarily leaves.(d) The company?s only obligation is to notify Ashley of future job availability.(e) The company has no obligation at all to Ashley.5. When new hires are forced to join an existing union, a union shop ____________ exist. This kind of arrangement __________________ legal under the NLRA.(a) does, is(b) does, is not(c) does not, is(d) does not, is not

 

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