Q&A Hero

Q: Which of the following statements holds true for a patent? A. A patent application cannot be accessed by the general public. B. A patent expires at the end of a 20-year period. C. A patent is subject to "first-to-invent" patent process rather than the "first-to-file" process. D. A patent is a process used in a business and disclosed only to those employees who need to know it to do their jobs.

Q: A _____ is a symbol, picture, image, name, device, color, or word that a business uses to distinguish itself from its competitors. A. patent C. royalty trademark A trademark is a symbol, picture, image, name, device, color, or word that a business uses to distinguish itself from its competitors.

Q: _____ is aimed at understanding the laws of nature and the principles of the physical universe without any practical goals in mind. A. Pure research B. Juriscience C. Motivation test D. Applied research

Q: Lashkar-e-Taiba is one of the largest and most active militant Islamist terrorist organizations in South Asia, operating mainly from Pakistan. The organization is banned as a terrorist organization by India, Pakistan, the United States, the United Kingdom, and the European Union. Lashkar-e Taiba has attacked civilian and military targets in India, most notably the 2008 Mumbai attacks and the 2001 Indian Parliament attack. While discussing the exercise of international power by nongovernmental international organizations (NIOs), how does one categorize Lashkar-e-Taiba?

Q: Which of the following statements holds true for the Nuclear Regulatory Commission? A. It is responsible for regulating space vehicle reactors. B. It is responsible for regulating nuclear weapons and military reactors. C. It is responsible for handling, and disposal of nuclear material. D. It operates its own reactors and power plants.

Q: Permits issued under the Clean Water Act relate to: A. the use of river water for agricultural purposes. B. the use of potable water for industrial purposes. C. the use of water by industries beyond permissible limits. D. release of pollutants into the waterways within legal limits.

Q: Which of the following is designed to encourage companies that ship, drill for, and store oil to develop and use the most up-to-date equipment and the most effective safety measures possible? A. Surface Mining Control and Reclamation Act B. Toxic Substances Control Act C. Oil Pollution Act D. Ocean Dumping Act

Q: Which of the following countries is a signatory of the Kyoto Protocol? A. India B. United States C. United Kingdom D. China

Q: A _____ is a property right granted by the federal government to an inventor. patent C. royalty D. trademark A patent is a property right granted by the federal government to an inventor.

Q: _____ refers to all relevant technical knowledge about the field to which the invention belongs A. Patent watch B. Trade secret C. Priority right D. Prior art

Q: Nongovernmental international organizations that are completely dependent upon their member nations and would be unable to do anything without their support are referred to as _____ NIOs. A. entity level B. semi-autonomous C. aggregate D. trans-national

Q: The primary job of the chief technology officer of the United States is to: A. build an integrated technology policy especially designed to meet the needs of the national government. B. support scientific research, to stimulate the national economy, and to safeguard national security. C. conduct research into all aspects of human life and health and to apply that understanding to cure illnesses, to alleviate disabilities, and to lengthen human life. D. coordinate advances in technology and engineering as they relate to the practical jobs of improving the American economy.

Q: The National Science Foundation was created to: A. conduct research into all aspects of human life and health and to apply that understanding to cure illnesses, to alleviate disabilities, and to lengthen human life. B. support scientific research, to stimulate the national economy, and to safeguard national security. C. coordinate advances in technology and engineering as they relate to the practical jobs of improving the American economy. D. build an integrated technology policy especially designed to meet the needs of the national government.

Q: Which of the following statements holds true for judges sitting on the national science court? A. They are controlled and regulated by the U.S Senate. B. They are appointed by the Chief Technology Officer. C. They are expected to have a scientific background. D. They are required to be the former members of the National Institute of Health.

Q: The three issues that Robert Heilbroner thought would challenge the existence of the human race on earth are ____, the challenge of uncontrolled population growth and the destruction of the environment. A. terrorism. B. nuclear war. C. incurable communicable diseases. D. death of the sun.

Q: The _____ is responsible for regulating the transportation and the wholesale price of natural gas and electricity sold for use in interstate commerce. A. National Transportation Safety Board B. Federal Trade Commission C. Federal Energy Regulatory Commission D. Federal Communications Commission

Q: _____ is an academic discipline that studies the natural universe with the goal of understanding the physical laws that guide the operation of the universe. A. Philosophy B. Law C. Technology D. Science

Q: Which of the following statements holds true for the term, technology? A. It refers to the process of developing ways to enhance human control of physical laws with the goal of extending human abilities. B. It refers to the rules made by the government to promote order, stability, and justice. C. It refers to the academic discipline that studies the natural universe with the goal of understanding the physical laws that guide the operation of the universe. D. It refers to the nature of reality, including the relationship between mind and body, substance and accident, events and causation.

Q: The _____ emerges from the Constitution of the United States. A. state power B. national power C. people power D. international power

Q: The _____ reads that the Congress is empowered to lay and collect taxes, duties, imposts, and excises, to pay the debts. A. necessary and proper clause B. general welfare clause C. commerce clause D. supremacy clause

Q: Until recently a business system was also considered unpatentable because it was not a "process, machine, manufacturer, or composition of matter."

Q: Under the newly reinstated obvious-to-try standard, if the challenger can demonstrate that anyone of ordinary skill could see that it would have been obvious to try such an innovation, the innovation would be labeled as obvious, and the invention would not be patentable.

Q: A licensing agreement occurs when the producer of a product allows a purchaser to use the product only if the purchaser agrees to respect the producer's desire for secrecy.

Q: Dependency theory refers to an economic picture of the world which holds the developed world responsible for poverty in the underdeveloped world.

Q: The Nuclear Regulatory Commission is responsible for making certain that, on a global basis, nuclear energy is used only for peaceful purposes.

Q: The UNEP, which has its central offices in Dhaka, was the first UN institution located in a developing nation-state.

Q: The Copenhagen Accord actually operates outside the jurisdiction of the United Nations.

Q: The government can interfere in the child-bearing decision of a woman if it has a compelling interest to do so.

Q: NIOs with entity status are completely dependent upon the nation states that make up their membership.

Q: Hard power is waged at the emotional and psychological level.

Q: The General Assembly consists of all UN member-states.

Q: The national science court has exclusive jurisdiction over issues involving scientific, engineering, medical, and technological cases.

Q: The general welfare clause has been used over the last two centuries to give Congress the power to create a national police force and the FBI.

Q: Police power is the state's authority to promote public health, safety, welfare, and morals.

Q: Carmine was a patient at the Galion Memorial Hospital. While Carmine was out of the room, Riley accidentally spilled a pitcher of water on the floor of Carmine's room. Before cleaning up the water, Riley took her lunch break. When Carmine returned to his room, he slipped in the puddle of water, fell, and injured himself. Carmine sued Riley and the hospital for negligence. At the trial, Carmine argued that there was no need for an expert witness to testify as to the standard of care rendered by the nurse. Was Carmine correct? Explain.

Q: Betty is unhappy with her physician, Todd, and wants a copy of her medical records to be able to consult another physician. Todd says the records are his work product and his property. Discuss the likely outcome of this dispute.

Q: Small hospital uses independent physicians and allows them to wear a Small identification tag and issue orders to Small employees. Discuss the risk Small hospital is taking.

Q: International power depends upon the type of international institution that is charged with oversight responsibilities.

Q: Statutory law regulates the social system by telling people what they can and cannot do

Q: Big Co. hires its auditor, Geraldo, as Vice President for Finance. Geraldo is a partner in Seasoned Accounting firm that will continue to audit Big. Discuss the major legal issues this situation raises.

Q: Spratt, an accountant, deliberately falsified a financial statement she was preparing for Aniline Industries. Gladden and Jarvis invested in Aniline based on the statement. A banker at Kidston National Bank also relied on the statement in deciding to make a loan to Aniline. When Gladden, Jarvis, and Kidston National Bank learned of the deception, they told Spratt that they were going to bring suit against her. Spratt told them that a court would never rule in their favor because they were not known third parties. Was Spratt correct? Why or why not?

Q: The architectural firm of Maxwell-Wyatt Inc. designed a house for Sandoval. Due to an error in the architect's plans, the drain in the basement did not work properly. Can Sandoval rightfully expect the firm to pay him the $1,500 it would cost to correct the error? Explain.

Q: Attorney Riana prepares a will for her client Jones. After Jones dies, Jones's son, Ted, sues Riana because Jones did not minimize the probate process by creating probate avoiding devices in the will. Discuss if Ted's suit will be successful.

Q: Sally is angry with George, her attorney, and wants to sue him for malpractice. Discuss what Sally must prove to win her case.

Q: _____ refer to a system of coordinated health care institutions for Medicare patients developed by the Department of Health and Human Services. A. High-deductible health plans B. Preferred provider organizations C. Accountable care organizations D. Health maintenance organizations

Q: _____ occurs if the hospital has retained a physician that the governing body of the hospital knew or should have known was incompetent. A. Ostensible authority B. Negligent credentialing C. A staff privilege D. Indifferent testimony

Q: Charlie, a high school dropout, works as an accountant for Small Co. Discuss if the state may prevent Charlie from working as an accountant due to his lack of education and failure to meet state registration requirements.

Q: Big Co. has made a variety of unsecured, undisclosed, large personal loans to top management officials. Belinda audits Big and discovers this problem. Discuss what type of audit opinion Belinda is likely to issue.

Q: Eva, a Mercy Hospital patient, received medication intended for another patient and as a result suffered severe complications. In a malpractice case against Mercy, regarding the administering of the wrong medication to Eva: A. expert testimony is required. B. expert testimony is required only if it happened once. C. expert testimony is not required only if the other patient was in a different area of the hospital. D. expert testimony is not required.

Q: Miranda, a student in Brad's business law class, asks a hypothetical question that is, in fact, based upon a current problem that her brother, Stan, is having. Brad gives an incorrect answer and Stan suffers a loss when he acts according to the answer Miranda provided him. Brad: A. has no duty of due care to Stan but has to Miranda. B. has no duty of due care to either Miranda or Stan. C. has a duty of due care to both Stan and Miranda. D. has a duty of due care to Stan but not to Miranda.

Q: Which of the following statements holds true for the true locality rule? A. It requires the court to look at the standard of care used in the exact locality of the physician. B. It permits the court to judge the actions of a local physician against those of a physician in a community of comparable size and socioeconomic character. C. It ignores the socioeconomic character of the physician's home base and concentrates instead on the geographical limits of a state border. D. It permits general practioners to be judged by one criterion and specialists by another.

Q: Which of the following would be considered a valid informed consent by a court? A. Dr. Ambrose tells her patient in advance about a dangerous procedure and the risk involved, and obtains the patient's informed consent in writing on a form that is signed by the patient. B. Dr. Ambrose tells her patient in advance about a dangerous procedure and the risk involved and obtains the patient's informed consent in writing on a form that is signed by the patient and witnessed by a third party. C. Dr. Ambrose obtains her patient's oral informed consent, which is witnessed by a third party. D. Dr. Ambrose tells her patient the procedure is mandatory.

Q: Wolfgang was transported unconscious from the scene of a motorcycle accident to a local hospital where he was admitted for emergency treatment. Does the hospital need to be concerned about obtaining written consent to treatment from someone before starting treatment on Wolfgang? A. Yes, informed consent requires a signed document. B. No, it can get consent after the treatment. C. Yes, without consent from the next of kin there is liability. D. No, general consent is implied and this is an emergency.

Q: Samuel, a physician, is involved in a malpractice case. If the true locality rule was applied in his case, the court would judge his actions: A. against those of a physician in a community of similar size and socioeconomic character. B. by concentrating on the geographical limits of a state border. C. by looking at the standard of care used in the same exact locality of Samuel. D. on the basis of expert testimony provided from his locality.

Q: Angela asserts that HIPAA allows her to have copies of the records that result from her psychotherapy sessions with Xenon. Angela: A. can look through the records along with Xenon. B. must have Xenon's permission. C. must have Xenon's permission and can only look through the records along with Xenon. D. can have personal copies of these records.

Q: Cal, a purchaser, lost $15,000 after purchasing corporate stock based on a false registration statement. Cal: A. has no legal recourse through which he may try to recover his loss. B. may sue the accountant who prepared the registration statement under the Securities Exchange Act of 1954. C. may sue the accountant who prepared the registration statement under the Securities Act of 1933. D. may sue the corporation of stock fraud under the Securities Exchange Act of 1934.

Q: State security statutes are commonly called: A. exchange laws. B. third party laws. C. common laws. D. blue sky laws.

Q: Milton is offered a contract by Marcos and Co to design homes for a fourteen storey structure. After the home is completed, Marcos and Co finds that instead of two cupboards all the houses have only one cupboard. The error is traced back to Milton's faulty design. Barring the error the houses is in absolutely usable condition. What is Milton's liability? A. Milton has to reimburse the client for any extra money spent to fit in an extra cupboard. B. Milton has to pay Marcos and Co difference between the market value of the building as it stands and the market value of the intended structure. C. Milton has to pay the tenants the cost for fitting in an extra cupboard. D. Milton has to pay the state a fine for the inconvenience caused to the tenants.

Q: The Model Rules of Professional Conduct for attorneys was established by: A. the American Bar Association. B. the National Conference of Commissioners on Uniform State Laws. C. the American Lawyer's Cooperative System. D. Congress.

Q: An attorney also has a _____ to protect the client and to make certain that the client receives advice and representation that is free of conflicting interests. A. duty of due care B. duty of loyalty C. duty of proximity D. duty to act in good faith

Q: When auditors conclude that the financial records of the company are an accurate reflection of the company's financial status, they will issue a(n) ____. A. unqualified opinion B. qualified opinion C. adverse opinion D. disclaimer

Q: Dan is an accountant with Miller & co. The financial condition of Miller & Co. is bad but Dan shows it to be very healthy while preparing its financial statement, knowing that Miller & Co. will show the statement to Chase for seeking financing for its new project. Here Dan will be liable to Chase if the new project goes bankrupt, and Chase is unable to recover its investments under the liability theory of: A. general consent. B. attorney-client privilege. C. breach of contract. D. actually named third parties.

Q: Claus tells CPA Vernon that he needs an audit to borrow money from Big Bank. Claus pays Vernon and Claus takes Vernon's audit to Big Bank who makes the loan. When Claus defaults on the loan, Big discovers numerous liabilities that the audit did not reveal. Can Big Bank sue Vernon for negligence? A. Yes, because Vernon breached the trust that Claus had placed in him. B. No, because Big and Vernon did not have a contract. C. Yes, because Big was an actually named third party. D. No, because Vernon does not guarantee the collection of Big's loans.

Q: Jim tells his independent accountant, Rachelle, to prepare a financial statement for his business associate, Mel. If Rachelle is negligent in her preparation of this financial statement,: A. she will be liable if Mel suffers actual financial loss due to her negligence. B. Jim will be liable if Mel suffers actual financial loss due to Rachelle's negligence. C. she will still not be liable to Mel. D. Mel will not recover any money for financial loss due to her negligence because the business associate is not an actually named third party.

Q: Hospitals cannot be held liable for the negligence of a physician if that physician is not an employee of the hospital.

Q: An examination of the financial records of an organization to determine whether the records are a fair representation of the actual financial health of the organization is known as a(n): A. audit. B. appraisal. C. review. D. dissolution.

Q: A qualified opinion by an auditor that indicates that the financial statements are an accurate reflection of the company's financial health apart from some minor deviation from GAAP, not serious enough to warrant an adverse opinion is known as a(n): A. "except for" opinion. B. "unless" opinion. C. "but for" opinion. D. "indeterminate" opinion.

Q: To be licensed as an attorney, Eva does not have to meet an experience requirement.

Q: The SEC has the power to develop regulations that will create a "whistleblowing bounty program" analogous to the one used by the IRS.

Q: If Nadia, a licensed physician, operated on a patient without consent, Nadia could be guilty of battery.

Q: A patient's general consent for routine tests and procedures can be implied when she enters the hospital.

Q: For a patient to succeed in a negligence case against a health care professional, the patient must demonstrate that the health care provider owed a duty to that patient.

Q: Ostensible authority is created when a hospital presents itself to the public-at-large as a provider of health care services and in some way leads the patient to believe that a physician with staff privileges is an employee of the hospital.

Q: Only two members of the PCAOB may be CPAs.

Q: The Securities and Exchange Commission (SEC) has been charged with investigating how to regulate financial planners, including especially those planners who perform income tax planning services.

Q: Certified public accountants (CPAs) and non-CPA partners are not under the authority of the Consumer Financial Protection Bureau as long as they are performing routine and traditional tasks.

Q: If an accountant follows the GAAS or GAAP guidelines it automatically leads to his or her vindication in a court of law. FALSE Unfortunately, the opposite precept is not always true; that is, just because an accountant follows the GAAS or GAAP guidelines does not automatically lead to his or her vindication in a court of law. It is always possible that an accountant can follow the proper principles and procedures yet still make other errors that lead to liability.

Q: An accountant who prepares a fraudulent financial statement is liable to anyone who can be reasonably foreseen as relying on that statement.

Q: State statutes that regulate the sale of stock are frequently referred to as blue sky laws because they are set up to stop the sale of securities that are as empty as several feet of blue sky.

Q: The cost of repair rule applies to situations where a structure is unusable for its originally intended purpose.