AC 502 AC502 Unit 6 Final Exam (Kaplan University)

AC 502 Unit 6 Final Exam (Kaplan University)

Question 1. Question : Which of the following persons is an agent? 

Question 2.Question : Ron is the business agent for Kansas Sunshine, a rock band. He is also the agent for another popular Midwestern rock group, City Sand. Ron negotiates a deal with a Kansas City promoter to have City Sand play after a professional football game. The promoter was willing to pay $250,000 for both groups to play after the game; however, Ron talked her into booking just City Sand for $175,000. Given his contract with City Sand, Ron made more money under this arrangement. Has Ron violated his fiduciary duty to Kansas Sunshine? 

Question 3. Question : Nikki was a tax accountant with HBR Accounting. Nikki decided to do some tax consulting in the evenings and on weekends. HBR is unaware of Nikki's consulting

work. Which statement is correct? 

Question 4.Question : Mike worked for Frank’s Pizza as a driver. His duties consisted of making deliveries along a designated route. One day Mike decided to see his girlfriend, Jackie, who lived 50 miles out of his pizza route. While driving to his girlfriend’s, Mike injured a pedestrian, Chuck. The accident was caused because of Mike’s negligent operation of the delivery truck. Chuck is now suing both Mike and Frank’s for personal injuries. Under the circumstances: 

Question 5. Question : Pamela hired Lena to sell her business. Lena: 

Question 6. Question : Circus Pizza contracted with Art to run its birthday parties. Art's responsibilities included supervising the children and organizing the games. Circus did not

investigate Art's background, which included a history of assaulting children. Art assaulted a 7-year-old girl in the restaurant's kitchen during a birthday party. Circus Pizza: 

Question 7. Question : The National Labor Relations Act of 1935 is also known as the: 

Question 8. Question : Megan was employed by a large company. Her supervisor told her to falsify government reports. She refused and was fired. She sued for wrongful discharge.

Her employer claimed that, because Megan was an at-will employee, she had no legal right to claim the company was liable for damages. Is the employer right? 

Question 9. Question : Sharon had a heart attack while she was under stress at work. Can she collect workers' compensation for the time she had to be away from work as she

recovered 

Question 10. Question : Which of the following statements is correct? 

Question 11. Question : The Smith v. City of Jackson case held: 

Question 12. Question : Affirmative action programs: 

Question 13. Question : Mark was refused employment at a Christian Bookstore because he was not a "born-again Christian." If Mark brings a Title VII action against the bookstore, its

best defense would be: 

Question 14. Question : Which of the following is not prohibited by Title VII of the Civil Rights Act? 

Question 15. Question : Which of the following is an unfair labor practice for an employer? 

Question 16. Question : Which of the following are tasks of the National Labor Relations Board? 

Question 17. Question : Which of the following is an unfair labor practice for a union? 

Question 18. Question : Organized labor: 

Question 19. Question : An employer is in the process of negotiating a new contract with its union. During negotiations, the employer changed the workweek from a five-day, eight-hour-per-

day week to a four-day, ten-hour-per-day week. Which statement is correct? 

Question 20. Question : Kelly is upset with her supervisor and believes his conduct violates the terms of her union's collective bargaining agreement (CBA). The union filed a grievance on

Kelly's behalf. Who will conduct the grievance? 

Question 21.Question : A union declares that its workers are going on strike. The employer states the collective bargaining agreement is still in force for another eight months and that it contains a no-strike clause. The union claims the CBA's no-strike provision is not binding because new union leadership is in place and because such provisions have been ruled by courts to be contrary to the purposes of the NLRA. Which of the following statements is correct? 

Question 22. Question : Which of the following opinions indicates that the company's financial statements fairly present its financial condition according to GAAP? 

Question 23. Question : Clint is auditing MegaCorp. In reviewing the sales ledger, Clint saw that MegaCorp had sold 3,000 basketball hoops to Cincy, Inc. Clint reviewed the original invoice of

this sale to ensure that the date, price, quantity, and customer's name all match. He then verified each step along the paper trail until the hoops left the warehouse. This illustrates: 

Question 24. Question : An engagement letter is a written contract: 

Question 25. Question : An accountant is liable for fraud to: 

Question 26. Question : Adam, a client of NETT, an accounting firm, claimed that NETT negligently prepared an audit. To hold the accounting firm liable, which of the following

elements must be established? 

Question 27. Question : An auditor who suspects a client has committed an illegal act that may have a material impact on financial statements must first notify: 

Question 28. Question : Who owns and controls an accountant's working papers? 

Question 29. Question : GBH, an accounting firm, was hired to prepare financial statements for E-treme. Which statement is correct concerning the accountant's working papers? 

Question 30. Question : Which of the following is correct? 

Question 31. Question : In order for a copyright holder to collect money damages from a person who used copyrighted material, it must be proven that: 

Question 32. Question : Janice wrote a song called "Feelings of Love." She wrote the piano score and lyrics for a class she was taking at college and turned it into her professor. 

Question 33.

Question :

Richard wrote a song called "College Days." He copyrighted the composition and had it professionally printed. A couple of years later he was attending a business meeting about 1,500 miles from his home. While sitting in a nightclub, he heard a small local band perform a song called "College Memories." The music and words were extremely similar to his song. The composer of "College Memories" claims he never heard of Richard's song and that she is offended that he would accuse her of stealing his work. If Richard wishes to sue for copyright infringement, he must prove: 

Question 34.

Question :

A college professor copies seven chapters from a book called "How to Get Better Grades— A Creative Approach to College Success!" There are 10 chapters in the book. She incorporates this material into a packet of material that is printed in her college's copy center. The packet is then placed in the local book store and is placed on the required materials list for students to purchase. The author of the book on getting better grades believes the professor has violated his copyright. The author: 

Question 35. Question : A company's trade secret lasts for: 

Question 36. Question : Steve owns his own house in fee simple. The state wishes to build a much-needed new highway through the center of his house. Steve does not want to give up his home. The state will be able to take the land through the use of its condemnation

power, also called: 

Question 37. Question : An auditor who determines a company is materially misstating certain items on its financial statements should issue: 

Question 38.

Question :

Ollie leased a building in Old Town. Ollie installed a washer and dryer unit and a new furnace in the basement of the building with new duct work throughout the building. Upon expiration of the lease, Ollie intends to remove the washer and dryer, but not the furnace. The washer and dryer can easily be removed without harming anything. Removal of the furnace, however, will damage the building. Are the washer, dryer, and furnace fixtures? 

Question 39. Question : Real property consists of: 

Question 40. Question : Which of the following is a possessory interest in land? 

Question 41.Question :The Solomans own a cabin on the south side of Mount Henry. One day, the Solomans told Bennie and Claudia that they could live in the cabin and use it as they wished until the Solomans wanted to use it again. Twenty years later, the Solomans informed Bennie and Claudia that they were going to spend the summer at the cabin and that Bennie and Claudia would have to make other arrangements for the summer. Bennie and Claudia claimed that they had acquired title by adverse possession, because they had occupied the property for the period of time required for adverse possession under state law (say 10 years). Are Bennie and Claudia correct? 

Question 42. Question : The government officials of Central City want to prohibit adult businesses from locating within 500 feet of schools, daycare centers, and houses of worship. The

officials: 

Question 43.

Question :

Laverne knew that her house was infested with termites. Nevertheless, Laverne listed her house “for sale by owner.” Shirley had been looking for the perfect house for months now. She was about to give up the search when she decided to stop at Laverne's open house one Sunday afternoon. Shirley fell in love with the house, the yard, and the neighborhood. Shirley was so excited about buying this house and felt as though she had a kinship with Laverne even though she had not met her before. As a result, she did not bother to hire an attorney, she did not hire a company to conduct a termite inspection, nor did she talk to the neighbors about the condition of the house. Within six months after Shirley bought the house, the front porch started to crumble, exposing the rotten wood destroyed by termites. The neighbors confirmed that Laverne had mentioned that the house was infested with termites. Shirley wants out of the deal or money to repair the termite damage. Shirley's claim against Laverne would most likely be based on: 

Question 44. Question : A tenancy with no fixed duration is a: 

Question 45. Question : A landlord's substantial interference with a tenant's use of the property is considered: 

Question 46. Question : The requirement that a landlord meet local building standards or that the premises be fit for human habitation is called the: 

Question 47. Question : Archie has a 10-year written lease to operate a laundromat. Archie, properly under the lease, assigns the lease to Edith for the remaining seven years. Edith pays the

lease payment for one year and then moves without notice. She disappears and cannot be found. Is Archie still liable for the balance of the lease payment? 

Question 48. Question : Jamie is a tenant at the Upstate Apartments and has certain duties as a tenant. Which of the following is not a tenant's duty? 

Question 49. Question : When there is a problem with the property that endangers the health or safety of the tenants: 

Question 50. Question : Mark signs a periodic year-to-year lease at the River's Edge Warehouse. After the year expires, Mark stays in the warehouse and the landlord acquiesces. Mark: