WGU D432 Study Guide for Objective
Assessment 2nd Attempt 2026 Questions
and Answers
Most Common type of business entity - Correct answer-Sole Proprietorship
Where can a Corporation be sued? - Correct answer-Place of incorporation and
primary place of business
What are 3 components of corporations? - Correct answer-Stockholders, Directors,
and Officers
What is the role of Board of Directors? - Correct answer-Set goals, hire officers,
oversee operations and finances
What are some advantages of Corporations? - Correct answer-Limited liability
from owners, ease of transferring ownership, certain tax deductions, ability to
attract financing
What is the purpose of Joint Ventures? - Correct answer-2 or more companies that
form an alliance for specific period of time.
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,What does FTC oversee? - Correct answer-Oversees unfair business practices.
What major case involves the commerce clause and what does it mean? - Correct
answer-Regulates state and international business and limits the states powers.
"NLRB vs. Steel Corp."
What are some circumstances that revolve around the 14th amendment? - Correct
answer-Warrantless searches
What was the purpose for the UN - Correct answer-Developed as a multilateral
treaty to create peace and equality for women and children
What is a Ponzi/Scheme? - Correct answer-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? - Correct answer-Slander-
spoken negative remarks about and individual or business; Libel- written negative
remarks about and individual or business
What is promissory estoppel? - Correct answer-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.
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, What is a material breach of contract? - Correct answer-When something is
promised and the complete opposite is done.
What is the purpose of the NLRB? - Correct answer-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? - Correct answer-When you can't gain employment if you
are not apart of the union
What is the difference between disparate treatment and disparate impact? - Correct
answer-Disparate is unintentionally discrimination
FTC mainly focuses on? - Correct answer-Regulating business competition; fair
and misleading practices
Triple Bottom line refers to? - Correct answer-How a company uses social
responsibility to assist people, planet, and profits.
Who protects against unfair/deceptive business practices? - Correct answer-
Consumer Protection Agency
What is the main contribution of the Wheeler-Lea Act? - Correct answer-Gave
FTC power to regulate and mission against anti trust
©C0PYRIGHT 2025, ALL RIGHTS RESERVED 3
Assessment 2nd Attempt 2026 Questions
and Answers
Most Common type of business entity - Correct answer-Sole Proprietorship
Where can a Corporation be sued? - Correct answer-Place of incorporation and
primary place of business
What are 3 components of corporations? - Correct answer-Stockholders, Directors,
and Officers
What is the role of Board of Directors? - Correct answer-Set goals, hire officers,
oversee operations and finances
What are some advantages of Corporations? - Correct answer-Limited liability
from owners, ease of transferring ownership, certain tax deductions, ability to
attract financing
What is the purpose of Joint Ventures? - Correct answer-2 or more companies that
form an alliance for specific period of time.
©C0PYRIGHT 2025, ALL RIGHTS RESERVED 1
,What does FTC oversee? - Correct answer-Oversees unfair business practices.
What major case involves the commerce clause and what does it mean? - Correct
answer-Regulates state and international business and limits the states powers.
"NLRB vs. Steel Corp."
What are some circumstances that revolve around the 14th amendment? - Correct
answer-Warrantless searches
What was the purpose for the UN - Correct answer-Developed as a multilateral
treaty to create peace and equality for women and children
What is a Ponzi/Scheme? - Correct answer-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? - Correct answer-Slander-
spoken negative remarks about and individual or business; Libel- written negative
remarks about and individual or business
What is promissory estoppel? - Correct answer-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.
©C0PYRIGHT 2025, ALL RIGHTS RESERVED 2
, What is a material breach of contract? - Correct answer-When something is
promised and the complete opposite is done.
What is the purpose of the NLRB? - Correct answer-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? - Correct answer-When you can't gain employment if you
are not apart of the union
What is the difference between disparate treatment and disparate impact? - Correct
answer-Disparate is unintentionally discrimination
FTC mainly focuses on? - Correct answer-Regulating business competition; fair
and misleading practices
Triple Bottom line refers to? - Correct answer-How a company uses social
responsibility to assist people, planet, and profits.
Who protects against unfair/deceptive business practices? - Correct answer-
Consumer Protection Agency
What is the main contribution of the Wheeler-Lea Act? - Correct answer-Gave
FTC power to regulate and mission against anti trust
©C0PYRIGHT 2025, ALL RIGHTS RESERVED 3
