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