EC-106
A State of debt that cannot be resolved
Bankruptcy
Learning to handle ethical dilemmas most often
Addresses financial distress and insolvency, allowing businesses to reorganize or obtain debt relief
Bankruptcy Law
Why does government set and collect taxes?
To help pay the expenses of the government
What 2 bodies make up Congress?
The Senate and House of Representatives
The basic principles that govern a business's actions?
Business Ethics
Which of the following is true of recognizing ethical dilemmas?
You must also respond to them
Covers ownership, use and transfer of property; which can include real property (land and buildings) and personal property (goods)
Property Law
The two main sources of revenue used to pay the costs of government regulation are?
Taxes and borrowing
How long is the term for a representative?
2 Years
Acting with honesty in all situations?
Integrity
Making a decision when facing an ethical dilemma will most likely make you
More satisfied
Ensures that parties fulfill their obligations, fostering trust in business relationships
Contract Law
Which of the following is a public good that is provided by government?
Interstate Highways
How long is the term for a Senator?
6 years
Voluntarily generous
Philanthropic
In ethical dilemmas, someone could be
Hurt
Regulates governing electronic contracts and digital signatures
E-Commerce Law
Government tries to protect competition by
Regulating Monopolies
How old must a Representative be to be elected?
25 Years old
A U.S. regulation mandating that public businesses comply with specific accounting requirements
Sarbanes-Oxley Act
When Samantha faces an ethical dilemma, she thinks about the positives and negatives of each possible solution. Which step of the ethical dilemma response process is Samantha completing?
Consider all of your potential actions
Highlights the importance of tax compliance, available deductions and tax planning strategies for businesses
Tax Law
Government provides protection to business owners’ property through the use of?
Zoning Laws
What can the legislative branch do if the President vetoes a bill?
Congress can pass the bill with 2/3 majority votes in both houses.