Devry Busn 115 Final Exam - Latest Essay examples

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Essay Sample: Page 2
6. (TCO 2) It is always best to put a contract in writing, even though oral contracts can be enforceable under contract law. A contract should _____. (Points : 5)

Specify the extent of profits expected by the original party

Be recorded at the secretary of state’s office

Contain a clear offer and agreement

Have only one party to the contract sign and date it

Question 7. 7. (TCO 3) One disadvantage of free trade is _____. (Points : 5)

domestic companies can lose their comparative advantage

uninterrupted flow of capital provides for lower interest rates

workers will be given across-the-board pay increases

a company’s productivity grows when it has an absolute advantage

domestic workers can be trained for additional jobs

Question 8. 8. (TCO 3) What are the advantages of corporations? (Points : 5)

has the power to own property and conduct business

It is owned by shareholders

It has stock which can be public or private

All statements are true

Question 9. 9. (TCO 2) Which category of business law originates from legislative action? (Points : 5)

Administrative Law

Common Law

Statutory Law

Civil Law

Question 10. 10. (TCO 3) Nations and companies trade internationally for any of the following reasons: (Points : 5)

Expanding into new markets to
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