WGU D216 BUSINESS LAW EXAM WITH 100% CORRECT
AND VERIFIED ANSWERS
Correct 207
100%
Incorrect 00
Your answers
1 of 207
Term
Which measure of the Sarbanes-Oxley Act ensures corporate
accountability for the information in the financial reports?
Give this one a try later!
Certification by the CEO and
CFO for the accuracy of Certification by the audit committee for
the accuracy of information in the
financial statements
, information in the financial
statements
Certification by the independent Certification by the board of
auditor for the accuracy of directors for the accuracy of
information in the financial statements information in the financial statements
Don't know?
2 of 207
Term
A corporation that meets certain qualifying requirements specified in
Subchapter S of the Internal Revenue Code can choose to operate as
an S corporation.
What is one of the qualifying requirements to operate as an S
corporation?
Give this one a try later!
The corporation must have more The corporation may have
than 100 shareholders. nonresident alien shareholders.
The corporation must have only The corporation must be a member
one class of stock. of an affiliated group.
Don't know?
, 3 of 207
Term
Which intellectual property protection protects ideas?
Give this one a try later!
Copyright Trademark
Patent Trade secret
Don't know?
4 of 207
Term
A public company's CEO and CFO certified the 10-K pursuant to the
Sarbanes-Oxley Act of 2002 (SOX). However, only the CEO certified
the public company's 10-Q.
Has this public company complied with SOX?
Give this one a try later!
No, because the issuer's chief
audit executive did not certify the No, because the CFO did not
annual filing. certify the quarterly filing.
, Yes, because the CEO and CFO Yes, because only the CEO is
are only required to certify annual required to certify quarterly filings.
filings.
Don't know?
5 of 207
Term
Due to booming business, a manufacturing company hired two new
employees for a rate of $15 per hour. Previous hires were paid a rate
of $26 per hour. After analyzing the reduction on labor costs, the
accountant recommended replacing the existing workers by less
expensive workers. Is this accountant's recommendation legal?
Give this one a try later!
Yes, because the accountant's legal Yes, because firing employees
responsibility is to maximize value. and hiring new ones for a lower
wage is not illegal.
No, because firing employees
and hiring new ones for a lower No, because the accountant's
wage is illegal. duties are just entering journal
entries.
Don't know?
AND VERIFIED ANSWERS
Correct 207
100%
Incorrect 00
Your answers
1 of 207
Term
Which measure of the Sarbanes-Oxley Act ensures corporate
accountability for the information in the financial reports?
Give this one a try later!
Certification by the CEO and
CFO for the accuracy of Certification by the audit committee for
the accuracy of information in the
financial statements
, information in the financial
statements
Certification by the independent Certification by the board of
auditor for the accuracy of directors for the accuracy of
information in the financial statements information in the financial statements
Don't know?
2 of 207
Term
A corporation that meets certain qualifying requirements specified in
Subchapter S of the Internal Revenue Code can choose to operate as
an S corporation.
What is one of the qualifying requirements to operate as an S
corporation?
Give this one a try later!
The corporation must have more The corporation may have
than 100 shareholders. nonresident alien shareholders.
The corporation must have only The corporation must be a member
one class of stock. of an affiliated group.
Don't know?
, 3 of 207
Term
Which intellectual property protection protects ideas?
Give this one a try later!
Copyright Trademark
Patent Trade secret
Don't know?
4 of 207
Term
A public company's CEO and CFO certified the 10-K pursuant to the
Sarbanes-Oxley Act of 2002 (SOX). However, only the CEO certified
the public company's 10-Q.
Has this public company complied with SOX?
Give this one a try later!
No, because the issuer's chief
audit executive did not certify the No, because the CFO did not
annual filing. certify the quarterly filing.
, Yes, because the CEO and CFO Yes, because only the CEO is
are only required to certify annual required to certify quarterly filings.
filings.
Don't know?
5 of 207
Term
Due to booming business, a manufacturing company hired two new
employees for a rate of $15 per hour. Previous hires were paid a rate
of $26 per hour. After analyzing the reduction on labor costs, the
accountant recommended replacing the existing workers by less
expensive workers. Is this accountant's recommendation legal?
Give this one a try later!
Yes, because the accountant's legal Yes, because firing employees
responsibility is to maximize value. and hiring new ones for a lower
wage is not illegal.
No, because firing employees
and hiring new ones for a lower No, because the accountant's
wage is illegal. duties are just entering journal
entries.
Don't know?
