WGU D216 BUSINESS LAW FOR ACCOUNTANTS PRACTICE ASSESSMENT 2026 COMPLETE SOLVED QUESTIONS AND MODEL RESPONSES

WGU D216 BUSINESS LAW FOR
ACCOUNTANTS PRACTICE ASSESSMENT
2026 COMPLETE SOLVED QUESTIONS
AND MODEL RESPONSES

◉ Which event can cause an agency authority to terminate by the
operation of law?


Death or insanity of either the principal or the agent
Abandonment of authority by the agent
Revocation of consent to authority by the principal
Renunciation of authority by the agent
Answer: Death or insanity of either the principal or the agent


◉ What is the duty of the principal to the agent in order to terminate
an agency at will?


To give the agent reasonable notice of the termination of the agency
To give the agent's third parties a notice of the termination of the
agency
To reimburse the agent for the loss incurred upon termination of the
agency by the principal

, To provide the agent a valid reason for the termination of the agency
Answer: To give the agent reasonable notice of the termination of
the agency


◉ What is the entity created by the Sarbanes-Oxley Act of 2002?


Public Company Accounting Oversight Board (PCAOB)
Securities and Exchange Commission (SEC)
International Accounting Standards Board (IASB)
American Institute of Certified Public Accountants (AICPA)
Answer: Public Company Accounting Oversight Board (PCAOB)


◉ Who are the members of the audit committee of a public
company?


Outside directors
Inside directors
Corporate officers
Company financial officers
Answer: Outside Directors