WGU - D432 Section 1 2025 EXAM QUESTIONS
WITH ACCURATE VERIFIED ANSWERS
(ACCURATE SOLUTIONS) A+ PASSED!!
Case Law - ANSWER✔✔-used by judges to inform their own rulings
Precedent - ANSWER✔✔-previous court rulings on similar cases, when determining
the ruling in their own cases
Wheeler-Lea Act - ANSWER✔✔-Law grants the Federal Trade Commission the
authority to stop false food- and drug-related advertising
Lanham Act - ANSWER✔✔-
Section 12(g) of Securities Exchange Act of 1934 - ANSWER✔✔-Companies with more
than $10 million in assets whose securities are held by more than 500 owners must file
annual and other periodic reports with the SEC
Form 8-K - ANSWER✔✔-the report that companies must file with the SEC to announce
major events that shareholders should know about
Dodd-Frank Act - ANSWER✔✔-Law gives whistleblowers security when they report
alleged Foreign Corrupt Practices Act violations
OLIVIA GREENWAYS© 2025, ALL RIGHTS RESRVED 1
, Partnership - ANSWER✔✔-involving two or more individuals who agree to operate a
business together for profit, can be both advantageous and risky
Sole Proprietorship - ANSWER✔✔-business established, owned, operated, and often
financed by one person
General Partnership - ANSWER✔✔-all partners share in the management and profits
Limited Partnership - ANSWER✔✔-Has two types of partners; one or more general or
limited partners
General Partner - ANSWER✔✔-have unlimited liability; maintain operational control
Limited Partner - ANSWER✔✔-liability is limited to the amount of their investment; do
not take part in the day-to-day management of the firm, help finance the business
Limited Liability Partnerships (LLP) - ANSWER✔✔-like general partnership except that
partners are not held responsible for the business debt and liabilities
Limited Liability Limited Partnership (LLLP) - ANSWER✔✔-a limited partnership with
the addition of limited liability, hence protecting the general partner from the debt and
liabilities of the partnership
Corporation - ANSWER✔✔-A legal entity subject to the laws of the state in which it is
formed, where the right to operate as a business is issued by state charter.
OLIVIA GREENWAYS© 2025, ALL RIGHTS RESRVED 2
WITH ACCURATE VERIFIED ANSWERS
(ACCURATE SOLUTIONS) A+ PASSED!!
Case Law - ANSWER✔✔-used by judges to inform their own rulings
Precedent - ANSWER✔✔-previous court rulings on similar cases, when determining
the ruling in their own cases
Wheeler-Lea Act - ANSWER✔✔-Law grants the Federal Trade Commission the
authority to stop false food- and drug-related advertising
Lanham Act - ANSWER✔✔-
Section 12(g) of Securities Exchange Act of 1934 - ANSWER✔✔-Companies with more
than $10 million in assets whose securities are held by more than 500 owners must file
annual and other periodic reports with the SEC
Form 8-K - ANSWER✔✔-the report that companies must file with the SEC to announce
major events that shareholders should know about
Dodd-Frank Act - ANSWER✔✔-Law gives whistleblowers security when they report
alleged Foreign Corrupt Practices Act violations
OLIVIA GREENWAYS© 2025, ALL RIGHTS RESRVED 1
, Partnership - ANSWER✔✔-involving two or more individuals who agree to operate a
business together for profit, can be both advantageous and risky
Sole Proprietorship - ANSWER✔✔-business established, owned, operated, and often
financed by one person
General Partnership - ANSWER✔✔-all partners share in the management and profits
Limited Partnership - ANSWER✔✔-Has two types of partners; one or more general or
limited partners
General Partner - ANSWER✔✔-have unlimited liability; maintain operational control
Limited Partner - ANSWER✔✔-liability is limited to the amount of their investment; do
not take part in the day-to-day management of the firm, help finance the business
Limited Liability Partnerships (LLP) - ANSWER✔✔-like general partnership except that
partners are not held responsible for the business debt and liabilities
Limited Liability Limited Partnership (LLLP) - ANSWER✔✔-a limited partnership with
the addition of limited liability, hence protecting the general partner from the debt and
liabilities of the partnership
Corporation - ANSWER✔✔-A legal entity subject to the laws of the state in which it is
formed, where the right to operate as a business is issued by state charter.
OLIVIA GREENWAYS© 2025, ALL RIGHTS RESRVED 2
