Business Law and Management Quiz

Which of the following is a legally enforceable agreement between two or more parties?

• Contract

• Understanding

• Arrangement

• Agreement

What is the study of what is morally right and wrong in the business world called?

• Business morality

• Corporate ethics

• Commercial ethics

• Business ethics

Which type of intellectual property protects inventions and discoveries?

• Copyright

• Trade secret

• Patent

• Trademark

Which law governs the relationship between employers and employees?

• contract law

• criminal law

• family law

• employment law

What is the system of rules, practices, and processes by which a company is directed and controlled?

• Corporate structure

• Business administration

• Company management

• Corporate governance

Which of the following is NOT a requirement for a valid contract?

• A written agreement

• Mutual assent of the parties

• Consideration exchanged between the parties

• Capacity of the parties to enter into a contract

Which ethical principle states that individuals should always tell the truth and not deceive others?

• Deception

• Honesty

• Dishonesty

• Lying

Which type of intellectual property protects original works of authorship?

• Trade secrets

• Patents

• Trademarks

• Copyright

Which law governs the formation and operation of corporations?

• company law

• corporation act

• business law

• corporate law

What is the term for the exclusive legal right to reproduce, publish, sell, or distribute a creative work?

• copyright

• trademark

• patent

• license