100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
(WGU D216) ACCT 3350 Business Law for Accountants - Complete OA Review $13.49   Add to cart

Exam (elaborations)

(WGU D216) ACCT 3350 Business Law for Accountants - Complete OA Review

 6 views  0 purchase

(WGU D216) ACCT 3350 Business Law for Accountants - Complete OA Review (WGU D216) ACCT 3350 Business Law for Accountants - Complete OA Review (WGU D216) ACCT 3350 Business Law for Accountants - Complete OA Review

Preview 3 out of 30  pages

  • August 31, 2024
  • 30
  • 2024/2025
  • Exam (elaborations)
  • Unknown
All documents for this subject (56)
avatar-seller
emiliophd
D216 ACCT 3350




Business Law for Accountants




COMPLETE OA REVIEW




©WGU 2024/2025

,1. Multiple Choice: Which of the following is considered a
negotiable instrument?
a) A check
b) A birth certificate
c) A driver's license
d) A passport
Correct Answer: a) A check
Rationale: A check is a negotiable instrument as it can be
transferred from one party to another as a form of payment.


2. Fill-in-the-Blank: The principle that states a company can enter
into contracts and own property separate from its owners is known
as the _____________.
Correct Answer: Doctrine of Corporate Personality
Rationale: The Doctrine of Corporate Personality recognizes a
company as a legal entity separate from its shareholders.


3. True/False: Insider trading is a legal practice if the individual
possesses non-public, material information about a company.
Correct Answer: False

©WGU 2024/2025

, Rationale: Insider trading is illegal when it involves buying or
selling a security based on non-public, material information.


4. Multiple Response: Select all that apply. Which of the following
are characteristics of a limited liability partnership (LLP)?
a) Limited liability for partners
b) No limit to the number of partners
c) Partners are not responsible for each other's misconduct
d) Profits are taxed at the partnership level
Correct Answers: a), b), c)
Rationale: In an LLP, partners have limited liability, there is no
cap on the number of partners, and they are not liable for the
misconduct of other partners. Profits are taxed individually.


5. Multiple Choice: What is the primary purpose of antitrust laws?
a) To promote fair competition in the marketplace
b) To increase tax revenue for the government
c) To regulate international trade
d) To protect small businesses from bankruptcy
Correct Answer: a) To promote fair competition in the
marketplace


©WGU 2024/2025

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller emiliophd. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67866 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart