WGU Business Law for Accountants - D216 Test with Answers
Graded A+
14th Amendment - -passed in 1868 after the
Civil War, provides, in part, that "[n]o State shall . . .
deprive any person of life, liberty, or property, without case law - -The rules of law announced in court
due process of law." decisions. Case law interprets statutes, regulations,
constitutional provisions, and other case law.
action at law - -File a complaint, jury or judge,
judgement, monetary damages or property categorical imperative - -A concept developed
by the philosopher Immanuel Kant as an ethical
guideline for behavior. In deciding whether an action
action in equity - -File a petition, judge, decree, is right or wrong, or desirable or undesirable, a
injunction, specific performance, or rescission person should evaluate the action in terms of what
would happen if everybody else in the same situation,
or category, acted the same way.
administrative agency - -A federal or state
government agency created by the legislature to
perform a specific function, such as to make and checks and balances - -The system by which
enforce rules pertaining to the environment. each of the three branches of the U.S. national
government (executive, legislative, and judicial)
exercises checks on the powers of the other
appellant - -The party who takes an appeal branches.
from one court to another.
Civil law - -The branch of law dealing with the
appellee - -The party against whom an appeal definition and enforcement of all private or public
is taken—that is, the party who opposes setting aside rights, as opposed to criminal matters.
or reversing the judgment.
commerce clause - -The provision in Article I,
Bill of Rights - -The first ten amendments to the Section 8, of the U.S. Constitution that gives
U.S. Constitution. Congress the power to regulate interstate commerce.
binding authority - -Any source of law that a common law - -a body of general rules that
court must follow when deciding a case. applied throughout the entire English realm
breaches - -To violate a law, by an act or an compelling government interest - -A test of
omission, or to break a legal obligation that one owes constitutionality that requires the government to have
to another person or to society. compelling reasons for passing any law that restricts
fundamental rights, such as free speech, or
distinguishes between people based on a suspect
business ethics - -Ethics in a business context; trait.
a consensus of what constitutes right or wrong
behavior in the world of business and the application
of moral principles to situations that arise in a concurring opinion - -A court opinion by one or
business setting. more judges or justices who agree with the majority
but want to make or emphasize a point that was not
,WGU Business Law for Accountants - D216 Test with Answers
Graded A+
made or emphasized in the majority's opinion. brought, or the accused person in a criminal
proceeding.
Constitutional law - -Law that is based on the
U.S. Constitution and the constitutions of the various defense - -Reasons that a defendant offers in
states. an action or suit as to why the plaintiff should not
obtain what he or she is seeking.
Corporate social responsibility (CSR) - -The
concept that corporations can and should act dissenting opinion - -A court opinion that
ethically and be accountable to society for their presents the views of one or more judges or justices
actions. who disagree with the majority's decision.
cost-benefit analysis - -A decision-making due process clause - -The provisions of the
technique that involves weighing the costs of a given Fifth and Fourteenth Amendments to the U.S.
action against the benefits of the action. Constitution that guarantee that no person shall be
deprived of life, liberty, or property without due
process of law. Similar clauses are found in most
courts of equity - -A court that decides state constitutions.
controversies and administers justice according to
the rules, principles, and precedents of equity.
Duty-based ethics - -An ethical philosophy
rooted in the idea that every person has certain
courts of law - -A court in which the only duties to others, including both humans and the
remedies that can be granted are things of value, planet. Those duties may be derived from religious
such as money damages. In the early English king's principles or from other philosophical reasoning.
courts, courts of law were distinct from courts of
equity.
Eighth Amendment - -Prohibits excessive bail
and fines, as well as cruel and unusual punishment.
Criminal law - -The branch of law that defines
and punishes wrongful actions committed against the
public. Electronic Communications Privacy Act (1986) -
-Prohibits the interception of information
communicated by electronic means.
cyberlaw - -An informal term used to refer to all
laws governing electronic communications and
transactions, particularly those conducted via the equal protection clause - -The provision in the
Internet. Fourteenth Amendment to the U.S. Constitution that
guarantees that no state will "deny to any person
within its jurisdiction the equal protection of the laws."
damages - -A monetary award sought as a This clause mandates that state governments treat
remedy for a breach of contract or a tortious act. similarly situated individuals in a similar manner.
defendant - -One against whom a lawsuit is equitable maxims - -General propositions or
principles of law that have to do with fairness (equity).
, WGU Business Law for Accountants - D216 Test with Answers
Graded A+
First Amendment - -Guarantees the freedoms
of religion, speech, and the press and the rights to
establishment clause - -The provision in the assemble peaceably and to petition the government.
First Amendment to the U.S. Constitution that
prohibits Congress from establishing a state-
sponsored religion, as well as from passing laws that Four-Part Analysis - -When making decisions,
promote religion or show a preference for one a business should evaluate each of the following: The
religion over another. legal implications of each decision. The public
relations impact. The safety risks for the consumers
and employees. The financial implications.
ethical reasoning - -A reasoning process in
which an individual links his or her moral convictions
or ethical standards to the particular situation at Fourth Amendment - -Prohibits unreasonable
hand. searches and seizures of persons or property.
ethics - -Moral principles and values applied to free exercise clause - -The provision in the First
social behavior. Amendment to the U.S. Constitution that prohibits
Congress from making any law "prohibiting the free
exercise" of religion.
executive agencies - -An administrative agency
within the executive branch of government. At the
federal level, executive agencies are those within the Freedom of Information Act (1966) - -Provides
cabinet departments. that individuals have a right to obtain access to
information about them collected in government files.
federal form of government - -A system of
government in which the states form a union and the full faith and credit clause - -A clause in Article
sovereign power is divided between a central IV, Section 1, of the U.S. Constitution that provides
government and the member states. that "Full Faith and Credit shall be given in each State
to the public Acts, Records, and Judicial Proceedings
of every other State." The clause ensures that rights
Fifth Amendment - -Guarantees the rights to established under deeds, wills, contracts, and the like
indictment (formal accusation) by a grand jury, to due in one state will be honored by the other states and
process of law, and to fair payment when private that any judicial decision with respect to such
property is taken for public use. The Fifth property rights will be honored and enforced in all
Amendment also prohibits compulsory self- states.
incrimination and double jeopardy (trial for the same
crime twice).
Health Insurance Portability and Accountability Act
(1996) - -Requires health-care providers and
Financial Services Modernization Act (Gramm- health-care plans to inform patients of their privacy
Leach-Bliley Act) (1999) - -Prohibits the rights and of how their personal medical information
disclosure of nonpublic personal information about a may be used. States that medical records may not be
consumer to an unaffiliated third party unless strict used for purposes unrelated to health care or
disclosure and opt-out requirements are met. disclosed without permission.
Graded A+
14th Amendment - -passed in 1868 after the
Civil War, provides, in part, that "[n]o State shall . . .
deprive any person of life, liberty, or property, without case law - -The rules of law announced in court
due process of law." decisions. Case law interprets statutes, regulations,
constitutional provisions, and other case law.
action at law - -File a complaint, jury or judge,
judgement, monetary damages or property categorical imperative - -A concept developed
by the philosopher Immanuel Kant as an ethical
guideline for behavior. In deciding whether an action
action in equity - -File a petition, judge, decree, is right or wrong, or desirable or undesirable, a
injunction, specific performance, or rescission person should evaluate the action in terms of what
would happen if everybody else in the same situation,
or category, acted the same way.
administrative agency - -A federal or state
government agency created by the legislature to
perform a specific function, such as to make and checks and balances - -The system by which
enforce rules pertaining to the environment. each of the three branches of the U.S. national
government (executive, legislative, and judicial)
exercises checks on the powers of the other
appellant - -The party who takes an appeal branches.
from one court to another.
Civil law - -The branch of law dealing with the
appellee - -The party against whom an appeal definition and enforcement of all private or public
is taken—that is, the party who opposes setting aside rights, as opposed to criminal matters.
or reversing the judgment.
commerce clause - -The provision in Article I,
Bill of Rights - -The first ten amendments to the Section 8, of the U.S. Constitution that gives
U.S. Constitution. Congress the power to regulate interstate commerce.
binding authority - -Any source of law that a common law - -a body of general rules that
court must follow when deciding a case. applied throughout the entire English realm
breaches - -To violate a law, by an act or an compelling government interest - -A test of
omission, or to break a legal obligation that one owes constitutionality that requires the government to have
to another person or to society. compelling reasons for passing any law that restricts
fundamental rights, such as free speech, or
distinguishes between people based on a suspect
business ethics - -Ethics in a business context; trait.
a consensus of what constitutes right or wrong
behavior in the world of business and the application
of moral principles to situations that arise in a concurring opinion - -A court opinion by one or
business setting. more judges or justices who agree with the majority
but want to make or emphasize a point that was not
,WGU Business Law for Accountants - D216 Test with Answers
Graded A+
made or emphasized in the majority's opinion. brought, or the accused person in a criminal
proceeding.
Constitutional law - -Law that is based on the
U.S. Constitution and the constitutions of the various defense - -Reasons that a defendant offers in
states. an action or suit as to why the plaintiff should not
obtain what he or she is seeking.
Corporate social responsibility (CSR) - -The
concept that corporations can and should act dissenting opinion - -A court opinion that
ethically and be accountable to society for their presents the views of one or more judges or justices
actions. who disagree with the majority's decision.
cost-benefit analysis - -A decision-making due process clause - -The provisions of the
technique that involves weighing the costs of a given Fifth and Fourteenth Amendments to the U.S.
action against the benefits of the action. Constitution that guarantee that no person shall be
deprived of life, liberty, or property without due
process of law. Similar clauses are found in most
courts of equity - -A court that decides state constitutions.
controversies and administers justice according to
the rules, principles, and precedents of equity.
Duty-based ethics - -An ethical philosophy
rooted in the idea that every person has certain
courts of law - -A court in which the only duties to others, including both humans and the
remedies that can be granted are things of value, planet. Those duties may be derived from religious
such as money damages. In the early English king's principles or from other philosophical reasoning.
courts, courts of law were distinct from courts of
equity.
Eighth Amendment - -Prohibits excessive bail
and fines, as well as cruel and unusual punishment.
Criminal law - -The branch of law that defines
and punishes wrongful actions committed against the
public. Electronic Communications Privacy Act (1986) -
-Prohibits the interception of information
communicated by electronic means.
cyberlaw - -An informal term used to refer to all
laws governing electronic communications and
transactions, particularly those conducted via the equal protection clause - -The provision in the
Internet. Fourteenth Amendment to the U.S. Constitution that
guarantees that no state will "deny to any person
within its jurisdiction the equal protection of the laws."
damages - -A monetary award sought as a This clause mandates that state governments treat
remedy for a breach of contract or a tortious act. similarly situated individuals in a similar manner.
defendant - -One against whom a lawsuit is equitable maxims - -General propositions or
principles of law that have to do with fairness (equity).
, WGU Business Law for Accountants - D216 Test with Answers
Graded A+
First Amendment - -Guarantees the freedoms
of religion, speech, and the press and the rights to
establishment clause - -The provision in the assemble peaceably and to petition the government.
First Amendment to the U.S. Constitution that
prohibits Congress from establishing a state-
sponsored religion, as well as from passing laws that Four-Part Analysis - -When making decisions,
promote religion or show a preference for one a business should evaluate each of the following: The
religion over another. legal implications of each decision. The public
relations impact. The safety risks for the consumers
and employees. The financial implications.
ethical reasoning - -A reasoning process in
which an individual links his or her moral convictions
or ethical standards to the particular situation at Fourth Amendment - -Prohibits unreasonable
hand. searches and seizures of persons or property.
ethics - -Moral principles and values applied to free exercise clause - -The provision in the First
social behavior. Amendment to the U.S. Constitution that prohibits
Congress from making any law "prohibiting the free
exercise" of religion.
executive agencies - -An administrative agency
within the executive branch of government. At the
federal level, executive agencies are those within the Freedom of Information Act (1966) - -Provides
cabinet departments. that individuals have a right to obtain access to
information about them collected in government files.
federal form of government - -A system of
government in which the states form a union and the full faith and credit clause - -A clause in Article
sovereign power is divided between a central IV, Section 1, of the U.S. Constitution that provides
government and the member states. that "Full Faith and Credit shall be given in each State
to the public Acts, Records, and Judicial Proceedings
of every other State." The clause ensures that rights
Fifth Amendment - -Guarantees the rights to established under deeds, wills, contracts, and the like
indictment (formal accusation) by a grand jury, to due in one state will be honored by the other states and
process of law, and to fair payment when private that any judicial decision with respect to such
property is taken for public use. The Fifth property rights will be honored and enforced in all
Amendment also prohibits compulsory self- states.
incrimination and double jeopardy (trial for the same
crime twice).
Health Insurance Portability and Accountability Act
(1996) - -Requires health-care providers and
Financial Services Modernization Act (Gramm- health-care plans to inform patients of their privacy
Leach-Bliley Act) (1999) - -Prohibits the rights and of how their personal medical information
disclosure of nonpublic personal information about a may be used. States that medical records may not be
consumer to an unaffiliated third party unless strict used for purposes unrelated to health care or
disclosure and opt-out requirements are met. disclosed without permission.
