WGU D432 STUDY GUIDE FOR OBJECTIVE
ASSESSMENT 2ND ATTEMPT EXAM 2025 REVIEWED
Most Common type of business entity = Answer =Sole
Proprietorship
Where can a Corporation be sued? = Answer =Place of
incorporation and primary place of business
What are 3 components of corporations? = Answer
=Stockholders, Directors, and Officers
What is the role of Board of Directors? = Answer =Set goals,
hire officers, oversee operations and finances
What are some advantages of Corporations? = Answer =Limited
liability from owners, ease of transferring ownership, certain tax
deductions, ability to attract financing
What is the purpose of Joint Ventures? = Answer =2 or more
companies that form an alliance for specific period of time.
,What does FTC oversee? = Answer =Oversees unfair business
practices.
What major case involves the commerce clause and what does it
mean? = Answer =Regulates state and international business and
limits the states powers. "NLRB vs. Steel Corp."
What are some circumstances that revolve around the 14th
amendment? = Answer =Warrantless searches
What was the purpose for the UN = Answer =Developed as a
multilateral treaty to create peace and equality for women and
children
What is a Ponzi/Scheme? = Answer =A payment of investment
into a non existent firm from new investors to older investors;
and the process repeats
What are the 2x types of defamation and explain them? =
Answer =Slander-spoken negative remarks about and individual
or business; Libel- written negative remarks about and
individual or business
, What is promissory estoppel? = Answer =Within contract law,
promissory estoppel refers to the doctrine that a party may
recover on the basis of a promise made when the party's reliance
on that promise was reasonable, and the party attempting to
recover detrimentally relied on the promise.
What is a material breach of contract? = Answer =When
something is promised and the complete opposite is done.
What is the purpose of the NLRB? = Answer =independent
federal agency that protects the rights of private sector
employees to join together, with or without a union, to improve
their wages and working conditions.
What is a closed shop? = Answer =When you can't gain
employment if you are not apart of the union
What is the difference between disparate treatment and disparate
impact? = Answer =Disparate is unintentionally discrimination
FTC mainly focuses on? = Answer =Regulating business
competition; fair and misleading practices
ASSESSMENT 2ND ATTEMPT EXAM 2025 REVIEWED
Most Common type of business entity = Answer =Sole
Proprietorship
Where can a Corporation be sued? = Answer =Place of
incorporation and primary place of business
What are 3 components of corporations? = Answer
=Stockholders, Directors, and Officers
What is the role of Board of Directors? = Answer =Set goals,
hire officers, oversee operations and finances
What are some advantages of Corporations? = Answer =Limited
liability from owners, ease of transferring ownership, certain tax
deductions, ability to attract financing
What is the purpose of Joint Ventures? = Answer =2 or more
companies that form an alliance for specific period of time.
,What does FTC oversee? = Answer =Oversees unfair business
practices.
What major case involves the commerce clause and what does it
mean? = Answer =Regulates state and international business and
limits the states powers. "NLRB vs. Steel Corp."
What are some circumstances that revolve around the 14th
amendment? = Answer =Warrantless searches
What was the purpose for the UN = Answer =Developed as a
multilateral treaty to create peace and equality for women and
children
What is a Ponzi/Scheme? = Answer =A payment of investment
into a non existent firm from new investors to older investors;
and the process repeats
What are the 2x types of defamation and explain them? =
Answer =Slander-spoken negative remarks about and individual
or business; Libel- written negative remarks about and
individual or business
, What is promissory estoppel? = Answer =Within contract law,
promissory estoppel refers to the doctrine that a party may
recover on the basis of a promise made when the party's reliance
on that promise was reasonable, and the party attempting to
recover detrimentally relied on the promise.
What is a material breach of contract? = Answer =When
something is promised and the complete opposite is done.
What is the purpose of the NLRB? = Answer =independent
federal agency that protects the rights of private sector
employees to join together, with or without a union, to improve
their wages and working conditions.
What is a closed shop? = Answer =When you can't gain
employment if you are not apart of the union
What is the difference between disparate treatment and disparate
impact? = Answer =Disparate is unintentionally discrimination
FTC mainly focuses on? = Answer =Regulating business
competition; fair and misleading practices
