WGU D432 STUDY GUIDE FOR OBJECTIVE ASSESSMENT EXAM LATEST UPDATE 2024/2025 WITH QUESTIONS AND CORRECT ANSWERS GRADED A+ 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 li ability 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 a round 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 individua l 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.
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