WGU D216 Business Law – Questions With Fully
Explained Solutions
Save
Terms in this set (207)
Which statement describes cyberlaw? It modifies traditional laws in relation to the online
environment
It is a formal legal term. 3 multiple choice options
It is a new type of law.
It governs transactions conducted via
email.
It modifies traditional laws in relation
to the online environment.
Which statement accurately describes It is a body of law established by court decisions.
common law? 3 multiple choice options
A buyer enters a contract to buy a Equitable
new house. The seller breaches the
3 multiple choice options
agreement after the buyer made a
deposit. The seller offers to return the
deposit, but the buyer wants to buy
the house.
Which type of remedy will this buyer
seek?
What happens when a state law is in The federal law displaces state law.
conflict with a federal law? 3 multiple choice options
,When confirming accounts receivable That the CFO refused to remove the fictitious
balances during an audit, the account
accountant realized that several of the
3 multiple choice options
accounts were fictitious. The
accountant asked the company's chief
financial officer (CFO) to remove
those accounts, but he insisted on
keeping them in the balance sheet.
One morning, the CFO called the
accountant and ended the audit client
relationship over the phone, before
the audit was even completed.
Months later, the accountant received
a call from the CPA firm asking about
why the relationship with the company
had ended.
What should this accountant tell the
CPA firm about the audit client
relationship with the company?
A public company has established Performance bonuses are solely based on products
sound internal controls. The internal sold.
audit department is always on the 3 multiple choice options
lookout for fraud, collusion, and the
possibility of management override of
controls.
Which behavior may contribute to
unethical behavior among
employees?
,A manufacturing company is deeply The doctrine that maximizes benefits and minimizes
concerned about its new expansion. harm.
While it is true that its main operations 3 multiple choice options
are located in a poor country, where it
is the biggest employer, this new
expansion will generate more
pollutants. The CEO has advised
continuing the expansion because it
will create more jobs than it will
generate pollutants.
Which doctrine is this CEO's analysis
approaching?
The accounting department needs to Systematic approach
decide on how to classify some 3 multiple choice options
transactions but due to their nature,
the literature appears to be in conflict.
Besides the classification issue, there
are some ethical implications as well.
The controller is researching how to
approach a situation like this from an
ethical standpoint.
What is a framework used to help in
the decision-making process?
, The accounts receivable manager of a No, because the manager manipulated policy to
manufacturing company loves to improve performance.
travel and is planning a once-in-a- 3 multiple choice options
lifetime trip to a beach. The accounts
receivable manager usually receives a
performance bonus at year-end and is
planning on using the money to pay
for the trip. The accounts receivable
manager thought it would be a good
idea to extend terms to the customers
without asking for approval. This
would improve the metrics in the
evaluation. Thanks to the extended
terms, the accounts receivable
manager received a nice bonus and
was able to go on the trip.
Were the accounts receivable
manager's actions ethical?
A public company's CEO and CFO No, because the CFO did not certify the quarterly
certified the 10-K pursuant to the filing.
Sarbanes-Oxley Act of 2002 (SOX).
3 multiple choice options
However, only the CEO certified the
public company's 10-Q.
Has this public company complied
with SOX?
What happens when a state law is in The federal law displaces state law.
conflict with a federal law? 3 multiple choice options
When deciding a case, which source Stare decisis
of law are judges most likely to take 3 multiple choice options
into consideration?
What describes the content of the Codification of the general rules and regulations
Code of Federal Regulations? adopted by administrative agencies
3 multiple choice options
Explained Solutions
Save
Terms in this set (207)
Which statement describes cyberlaw? It modifies traditional laws in relation to the online
environment
It is a formal legal term. 3 multiple choice options
It is a new type of law.
It governs transactions conducted via
email.
It modifies traditional laws in relation
to the online environment.
Which statement accurately describes It is a body of law established by court decisions.
common law? 3 multiple choice options
A buyer enters a contract to buy a Equitable
new house. The seller breaches the
3 multiple choice options
agreement after the buyer made a
deposit. The seller offers to return the
deposit, but the buyer wants to buy
the house.
Which type of remedy will this buyer
seek?
What happens when a state law is in The federal law displaces state law.
conflict with a federal law? 3 multiple choice options
,When confirming accounts receivable That the CFO refused to remove the fictitious
balances during an audit, the account
accountant realized that several of the
3 multiple choice options
accounts were fictitious. The
accountant asked the company's chief
financial officer (CFO) to remove
those accounts, but he insisted on
keeping them in the balance sheet.
One morning, the CFO called the
accountant and ended the audit client
relationship over the phone, before
the audit was even completed.
Months later, the accountant received
a call from the CPA firm asking about
why the relationship with the company
had ended.
What should this accountant tell the
CPA firm about the audit client
relationship with the company?
A public company has established Performance bonuses are solely based on products
sound internal controls. The internal sold.
audit department is always on the 3 multiple choice options
lookout for fraud, collusion, and the
possibility of management override of
controls.
Which behavior may contribute to
unethical behavior among
employees?
,A manufacturing company is deeply The doctrine that maximizes benefits and minimizes
concerned about its new expansion. harm.
While it is true that its main operations 3 multiple choice options
are located in a poor country, where it
is the biggest employer, this new
expansion will generate more
pollutants. The CEO has advised
continuing the expansion because it
will create more jobs than it will
generate pollutants.
Which doctrine is this CEO's analysis
approaching?
The accounting department needs to Systematic approach
decide on how to classify some 3 multiple choice options
transactions but due to their nature,
the literature appears to be in conflict.
Besides the classification issue, there
are some ethical implications as well.
The controller is researching how to
approach a situation like this from an
ethical standpoint.
What is a framework used to help in
the decision-making process?
, The accounts receivable manager of a No, because the manager manipulated policy to
manufacturing company loves to improve performance.
travel and is planning a once-in-a- 3 multiple choice options
lifetime trip to a beach. The accounts
receivable manager usually receives a
performance bonus at year-end and is
planning on using the money to pay
for the trip. The accounts receivable
manager thought it would be a good
idea to extend terms to the customers
without asking for approval. This
would improve the metrics in the
evaluation. Thanks to the extended
terms, the accounts receivable
manager received a nice bonus and
was able to go on the trip.
Were the accounts receivable
manager's actions ethical?
A public company's CEO and CFO No, because the CFO did not certify the quarterly
certified the 10-K pursuant to the filing.
Sarbanes-Oxley Act of 2002 (SOX).
3 multiple choice options
However, only the CEO certified the
public company's 10-Q.
Has this public company complied
with SOX?
What happens when a state law is in The federal law displaces state law.
conflict with a federal law? 3 multiple choice options
When deciding a case, which source Stare decisis
of law are judges most likely to take 3 multiple choice options
into consideration?
What describes the content of the Codification of the general rules and regulations
Code of Federal Regulations? adopted by administrative agencies
3 multiple choice options
