Memphis Acct 3130 M50 Fall 2015 ONLINE Final Exam 2015

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Memphis Acct 3130 M50 Fall 2015 ONLINE Final Exam 20151.Reference: “Divorce fallout.” Dr. Fred, following a messy divorce, has encountered significantfinancial difficulties. Dr. Fred has a friend named Slick Slim who tells Dr. Fred that he hasbeenmaking lots of money by selling people a wristband that allegedly places pressure on a nerve thatsignals hunger resulting in a lack of appetite. Slick Slim tells Dr. Fred that, although the devicedoes not really work, people who want to lose weight and look good in their bathing suits will doanything and that it sells like hotcakes. Slick Slim tells Dr. Fred that he will pay Dr. Fred fivedollars for every band that Dr. Fred can sell to his patients. Dr. Fred proceeds to mail letters topatients suggesting the use of the band for weight loss. He also uses UPS to mail samples of theband to some patients along with letters encouraging purchase of the bands. Dr. Fred thenproceeds to bill Medicare for office consultations he has with patients when they come in topurchase the bands. The scheme is wildly successful. Dr. Fred is able to entirely satisfy hisalimony obligations within just a few months. Unfortunately, as patients begin to see that theyare not having any weight loss, he has been receiving numerous complaints, and a friend of histold him that he could even be facing some criminal prosecution. By which of the following acts,if any, did Dr. Fred commit healthcare fraud?By the receipt of kickbacks from Slick Slim only.Dr. Fred did not commit any acts of healthcare fraud.By the submission of false claims to Medicare only.By submitting false claims to Medicare, by receiving kickbacks from Slick Slim, and also bymerely discussing the matter with Slick Slim.By the submission of false claims to Medicare and also by the receipt of kickbacks from SlickSlim.2.Which of the following is the misappropriation of trust funds or money held in a fiduciarycapacity?PretextingPonzi schemeFalse pretensesFalse entriesDefalcation3.Billy knows that he can bring his case against Bob in a state court in Tennessee. He is unsure,however, of which county in which to proceed. Which of the following address the propercounty?Diversity jurisdiction

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In personam jurisdictionVenueSubject-matter jurisdictionLong-arm jurisdiction4.Reference: “Employment law.” Clare, who has a successful pet grooming business, isplanning to expand her operations from the U.S. into Canada and perhaps Mexico. A friend ofhers, Bill, told her that she should carefully investigate the laws in those countries before sheproceeded. Clare responded, however, that she was not concerned because by internationaltreaty, and under NAFTA, so long as she is a U.S. citizen, she only has to obey U.S. laws. Lawsof other countries would not apply to her business operations. Clare also replied that any othercountry would have the same strict employment-at-will standard as exists in the U.S. She tellshim the employment-at-will standard is very strict and has not changed over the years, and thatthe nature of the relationship between employer and employee has remained unchanged. Whatconcept is Clare referencing when she mentions employment-at-will?The requirement that employers allow employees to take breaks at will after six hours of work.The right of the employer or the employee to terminate the employment relationship at any time.The requirement that employers provide safe working conditions.The requirement that an employee give notice before quitting.The requirement that an employer have good cause before discharging an employee.5.Reference: “Junk food.” Mary Dogood, a member of the school board in ABC County, isappalled at the amount of junk food in the schools. She convinces the state legislature to pass anordinance that no stores may sell any unhealthy, junk food within 500 feet of any school or daycare center. A teacher of political science raises the issue of whether the regulation is valid and istold that it is a valid exercise of the jurisdiction’s police power to protect its citizens.Convenience stores balk at the regulation and challenge it in court. What do courts generallypresume regarding laws passed in accordance with states’ police power?There is no presumption.The law is valid.The law is invalid.The law isvalid unless it involves the commerce clause.The law is valid unless it involves a First Amendment right.6.Ed goes door-to-door selling magazine subscriptions. Ed knows, however, that he is simplytaking money for subscriptions and has absolutely no intention of ever arranging for theprovision of magazines. Which of the following offenses, if any, has he committed?False tokenFalse entry

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Ponzi schemeFalse pretensesDefalcation7.Which of the following is an international agreement?A written agreement made between states governed by international law and relating tointernational subject matter.A general and consistent practice by states regardless of whether the practice is accepted as law.A general and consistent practice by states that is accepted as law.An agreement that is only between two states, not three or more relating to an internationalsubject matter.An agreement that is made between at least three states regarding an international subject matter.8.If a contract does not provide for arbitration, parties may submit a specific dispute involving acontractual provision to arbitration through the use of a ______.Suggested ADR resolution clauseSubmission agreementBinding arbitration clauseThe parties may not submit a specificdispute to arbitration if the contract does not provide forarbitration.Binding mediatory clause9.Over which of the following does the federal court system have exclusive jurisdiction?Admiralty cases onlyCopyright cases onlyNone of the aboveAdmiralty, bankruptcy, and copyright casesBankruptcy cases only10.Reference: “Environmental Concerns.” Connie, the president of a company that makes paper,has a new interest in the environment. She recently went to a seminar on environmental dangersand has decided to take steps to clean things up. She started at home and has now felt compelledto change things at work. Connie had to face the fact that her company has been cheating and isnot in compliance with applicable environmental regulations due to dumping in the nearby river.Her company has never been cited because it employs a very large number of people in thecommunity, including the mayor’s wife and the chief-of-police’s brother. On her mission toclean things up, Connie has decided to go even further than the law requires and install the verylatest environmental protections. When she announced her plan, the chair of the company’sboard of directors, Brooke, had a meeting with Connie. Brooke told Connie to analyze thesituation carefully because the cost of the additional equipment would mean no dividend to

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shareholders and no raise for employees. Furthermore, Brooke told Connie that installing all thenew equipment would result in higher prices for the company’s paper produce and couldbankrupt the company because of foreign competition. Brooke hinted that Connie could be firedif she persisted. Brooke suggested that Connie just be concerned with a minimal standard ofethics.Which of the following is the minimal standard that a business must meet in a consideration ofbusiness ethics suggested by Brooke?Decisions must meet the criteria of a follower of deontology.Decisions must be legal and decisions must receive a majority vote of acceptance by employees.Decisions must be legal.Decisions must meet the criteria of a follower of utilitarianism.Decisions must receive a majority vote of acceptance by employees.11.Which of the following is a type of ADR?MediationConsultationCase argumentFocus groupingCase analysis12.Assume a businessperson who owns a computer equipment store is delinquent in paying rentto the landlord. The resulting dispute focuses on ______law.PrivatePreferentialConsensualPublicBlack letter13.When may government agents search without a search warrant?All of the above.When they can show that a felony is involved.When they can show that the suspect who lives in the residence at issue has been in jailpreviously.When law enforcement officials believe it likely that the items sought will be removed beforethey can obtain a warrant.Outside of normal working hours for a judge.14.What do the letters “WPH” mean in reference to the “WPH Framework for Business Ethics”discussed in the text?Where, Procedure, and How

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