WGU D216 Business Law for Accountants
|OA| Objective Assessment | Actual
Questions and Answers Latest Updated
2026/2027 (Graded A+) pdf
A company started a beverage company that sells a variety of juices. All
the juices are sold in a plastic bottle with the company's name, the name
of the juice, and a logo the owner found online. Which type of protection
should the owner seek for the name of the juice?
Patent
Trade secret
Copyright
Trademark
Trademark
Which type of trademark receives automatic protection?
Descriptive marks
Personal name marks
Geographic marks
Fanciful marks
Fanciful Marks
Which type of trademarks never receive protection?
Descriptive marks
Generic marks
Arbitrary marks
Personal name marks
,Generic Marks
What should a business use to protect its trade secrets?
Non-disclosure agreement
Trademark
Non-compete agreement
Patent
Non-disclosure agreement
Under the Uniform Commercial Code, and without the parties agreeing to
the contrary in the contract, when is a title passed from the seller to the
buyer for the sale of goods?
During delivery of the goods to a shipping company
During receipt of the goods by a buyer
During physical acceptance of the goods by a buyer
During receipt of the goods by a buyer and delivery of physical title to a
shipping company
During delivery of the goods to a shipping company
A collector agreed to sell a rare collection of baseball cards to a buyer for
$2,000 after several weeks of negotiation and discussion. After the sale,
the buyer and collector do additional independent research and both learn
that the baseball cards are worth only $20. What is the court's decision if
this buyer sues this collector? A collector agreed to sell a rare collection
of baseball cards to a buyer for $2,000 after several weeks of negotiation
and discussion. After the sale, the buyer and collector do additional
independent research and both learn that the baseball cards are worth
only $20. What is the court's decision if this buyer sues this collector?
No damages
Rescission
, Compensatory damages
Punitive damages
No Damages
A used car salesperson tells a buyer that the used car will last for at least
five more years, if not many more. Which type of statement did this
salesperson provide?
Statement of fact
Statement of opinion
Statement of value
Statement of purpose
Statement of Opinion
What is the time period for filing Chapter 7 Schedules after the filing of the
petition?
Within 90 days after filing the petition in bankruptcy Within 120 days after
filing the petition in bankruptcy
Within 180 days after filing the petition in bankruptcy
Within 45 days after filing the petition in bankruptcy
Within 45 days after filing the petition in bankruptcy
What is the purpose of the means test?
To keep corporations from abusing the bankruptcy process by filing
Chapter 7
To keep upper-income people from abusing the bankruptcy process by
filing Chapter 11
To keep upper-income people from abusing the bankruptcy process by
filing Chapter 13
To keep upper-income people from abusing the bankruptcy process by
filing Chapter 7
|OA| Objective Assessment | Actual
Questions and Answers Latest Updated
2026/2027 (Graded A+) pdf
A company started a beverage company that sells a variety of juices. All
the juices are sold in a plastic bottle with the company's name, the name
of the juice, and a logo the owner found online. Which type of protection
should the owner seek for the name of the juice?
Patent
Trade secret
Copyright
Trademark
Trademark
Which type of trademark receives automatic protection?
Descriptive marks
Personal name marks
Geographic marks
Fanciful marks
Fanciful Marks
Which type of trademarks never receive protection?
Descriptive marks
Generic marks
Arbitrary marks
Personal name marks
,Generic Marks
What should a business use to protect its trade secrets?
Non-disclosure agreement
Trademark
Non-compete agreement
Patent
Non-disclosure agreement
Under the Uniform Commercial Code, and without the parties agreeing to
the contrary in the contract, when is a title passed from the seller to the
buyer for the sale of goods?
During delivery of the goods to a shipping company
During receipt of the goods by a buyer
During physical acceptance of the goods by a buyer
During receipt of the goods by a buyer and delivery of physical title to a
shipping company
During delivery of the goods to a shipping company
A collector agreed to sell a rare collection of baseball cards to a buyer for
$2,000 after several weeks of negotiation and discussion. After the sale,
the buyer and collector do additional independent research and both learn
that the baseball cards are worth only $20. What is the court's decision if
this buyer sues this collector? A collector agreed to sell a rare collection
of baseball cards to a buyer for $2,000 after several weeks of negotiation
and discussion. After the sale, the buyer and collector do additional
independent research and both learn that the baseball cards are worth
only $20. What is the court's decision if this buyer sues this collector?
No damages
Rescission
, Compensatory damages
Punitive damages
No Damages
A used car salesperson tells a buyer that the used car will last for at least
five more years, if not many more. Which type of statement did this
salesperson provide?
Statement of fact
Statement of opinion
Statement of value
Statement of purpose
Statement of Opinion
What is the time period for filing Chapter 7 Schedules after the filing of the
petition?
Within 90 days after filing the petition in bankruptcy Within 120 days after
filing the petition in bankruptcy
Within 180 days after filing the petition in bankruptcy
Within 45 days after filing the petition in bankruptcy
Within 45 days after filing the petition in bankruptcy
What is the purpose of the means test?
To keep corporations from abusing the bankruptcy process by filing
Chapter 7
To keep upper-income people from abusing the bankruptcy process by
filing Chapter 11
To keep upper-income people from abusing the bankruptcy process by
filing Chapter 13
To keep upper-income people from abusing the bankruptcy process by
filing Chapter 7
