WGU D432 Study Guide for Objective Assessment 2nd Attempt Already Passed

WGU D432 Study Guide for Objective Assessment 2nd Attempt Already Passed Most Common type of business entity Sole Proprietorship Where can a Corporation be sued? Place of incorporation and primary place of business What are 3 components of corporations? Stockholders, Directors, and Officers What is the role of Board of Directors? Set goals, hire officers, oversee operations and finances What are some advantages of Corporations? Limited liability from owners, ease of transferring ownership, certain tax deductions, ability to attract financing What is the purpose of Joint Ventures? 2 or more companies that form an alliance for specific period of time. What does FTC oversee? Oversees unfair business practices. What major case involves the commerce clause and what does it mean? Regulates state and international business and limits the states powers. "NLRB vs. Steel Corp." What are some circumstances that revolve around the 14th amendment? Warrantless searches What was the purpose for the UN Developed as a multilateral treaty to create peace and equality for women and children What is a Ponzi/Scheme? 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? Slander-spoken negative remarks about and individual or business; Libel- written negative remarks about and individual or business What is promissory estoppel? 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? When something is promised and the complete opposite is done. What is the purpose of the NLRB? 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? When you can't gain employment if you are not apart of the union What is the difference between disparate treatment and disparate impact? Disparate is unintentionally discrimination FTC mainly focuses on? Regulating business competition; fair and misleading practices Triple Bottom line refers to? How a company