WGU D216 Business Law For Accountants |
Latest 2025/2026 Update | 100% Correct.
Unit 2 Legal Environment Introduction
Competency: The graduate distinguishes the legal environment in which businesses operate.
In Unit 2 you will learn the foundation of business law. This competency is separated into two modules.
In the first module, you will learn key legal terms and types and sources of business law.
Module 1 Legal Environment in Business
Proficiency Statement:
The student identifies the types and sources of law applicable to business.
• Identify the constitutional, statutory, regulatory, administrative, case, and common law.
• Recognize the difference between civil and criminal law.
• Define key legal terms: parties and decisions and opinions.
• Identify the regulatory powers of U.S. and state governments.
Primary sources of law, or sources that establish the law, include the following:
The US Constitution and the constitutions of the various states
Statutory Law- including laws passed by congress, state legislatures, or local governing bodies.
Regulations created by administrative agencies, such as the Federal Trade Commission
Case Law and Common Law doctrines.
Secondary sources of law are books and articles that summarize and clarify the primary sources of law.
Constitutional Law- Law that is based on the U.S. Constitution and the constitutions of the various
states.
Statutory Law- The body of law enacted by legislative bodies (as opposed to constitutional law,
administrative law, or case law).
Ordinances- A law passed by a local governing unit, such as a city or a county.
Uniform laws A model law created by the National Conference of Commissioners on Uniform State Laws
and/or the American Law Institute for the states to consider adopting. If a state adopts the law, it
becomes statutory law in that state. Each state has the option of adopting or rejecting all or part of a
uniform law.
Administrative Law- which consists of the rules, orders, and decisions of administrative agencies
Administrative Agency- A federal or state government agency created by the legislature to perform a
specific function, such as to make and enforce rules pertaining to the environment.
Executive Agencies- An administrative agency within the executive branch of government. At the federal
level, executive agencies are those within the cabinet departments.
, Independent Regulatory Agencies- An administrative agency that is not considered part of the
government’s executive branch and is not subject to the authority of the president. Independent agency
officials cannot be removed without cause.
Case Law- The rules of law are announced in court decisions. Case law interprets statutes, regulations,
constitutional provisions, and other case laws.
Case Law and Common Law Doctrines- Judge-made law, including interpretations of constitutional
provisions, statutes enacted by legislatures, and of regulations created by administrative agencies.
In the second module, you will explore the relationship between business law and ethics and learn the
appropriate conduct within business relationships.
Module 2 Ethical, Moral, and Legal Issues in Business
Proficiency Statement:
Given an accounting scenario, the student determines ethical, moral, and legal issues in the business
environment.
• Describe the relationship between law and ethics.
• Differentiate between duty-based ethics and outcome-based ethics.
Unit 3 Intellectual Property Introduction
Competency: The graduate differentiates the types of intellectual property assets and rights in business.
In Unit 3 you will learn how to protect intangible assets of a business. You will also learn about the four
types of intellectual property—copyright, trademark, patents, and trade secrets—and which assets of
business are protectable.
Module 3 Intellectual Property
Proficiency Statement:
The student determines what intellectual property is and how to protect it in a business environment.
• Describe trademarks, trademark dilution, trademark registration, and trademark infringement.
• Describe patents and patent infringement.
• Describe copyrights, copyright infringement, and copyright protection for software.
• Describe trade secrets.
Unit 4 Contract Sales and Leases Introduction
Competency: The graduate evaluates contractual obligations of sellers, buyers, lessors, and lessees
under Article 2 of the UCC.
Unit 4 is divided into three modules. In the first module, Contracts, you will learn what makes a contract
valid and enforceable.
Latest 2025/2026 Update | 100% Correct.
Unit 2 Legal Environment Introduction
Competency: The graduate distinguishes the legal environment in which businesses operate.
In Unit 2 you will learn the foundation of business law. This competency is separated into two modules.
In the first module, you will learn key legal terms and types and sources of business law.
Module 1 Legal Environment in Business
Proficiency Statement:
The student identifies the types and sources of law applicable to business.
• Identify the constitutional, statutory, regulatory, administrative, case, and common law.
• Recognize the difference between civil and criminal law.
• Define key legal terms: parties and decisions and opinions.
• Identify the regulatory powers of U.S. and state governments.
Primary sources of law, or sources that establish the law, include the following:
The US Constitution and the constitutions of the various states
Statutory Law- including laws passed by congress, state legislatures, or local governing bodies.
Regulations created by administrative agencies, such as the Federal Trade Commission
Case Law and Common Law doctrines.
Secondary sources of law are books and articles that summarize and clarify the primary sources of law.
Constitutional Law- Law that is based on the U.S. Constitution and the constitutions of the various
states.
Statutory Law- The body of law enacted by legislative bodies (as opposed to constitutional law,
administrative law, or case law).
Ordinances- A law passed by a local governing unit, such as a city or a county.
Uniform laws A model law created by the National Conference of Commissioners on Uniform State Laws
and/or the American Law Institute for the states to consider adopting. If a state adopts the law, it
becomes statutory law in that state. Each state has the option of adopting or rejecting all or part of a
uniform law.
Administrative Law- which consists of the rules, orders, and decisions of administrative agencies
Administrative Agency- A federal or state government agency created by the legislature to perform a
specific function, such as to make and enforce rules pertaining to the environment.
Executive Agencies- An administrative agency within the executive branch of government. At the federal
level, executive agencies are those within the cabinet departments.
, Independent Regulatory Agencies- An administrative agency that is not considered part of the
government’s executive branch and is not subject to the authority of the president. Independent agency
officials cannot be removed without cause.
Case Law- The rules of law are announced in court decisions. Case law interprets statutes, regulations,
constitutional provisions, and other case laws.
Case Law and Common Law Doctrines- Judge-made law, including interpretations of constitutional
provisions, statutes enacted by legislatures, and of regulations created by administrative agencies.
In the second module, you will explore the relationship between business law and ethics and learn the
appropriate conduct within business relationships.
Module 2 Ethical, Moral, and Legal Issues in Business
Proficiency Statement:
Given an accounting scenario, the student determines ethical, moral, and legal issues in the business
environment.
• Describe the relationship between law and ethics.
• Differentiate between duty-based ethics and outcome-based ethics.
Unit 3 Intellectual Property Introduction
Competency: The graduate differentiates the types of intellectual property assets and rights in business.
In Unit 3 you will learn how to protect intangible assets of a business. You will also learn about the four
types of intellectual property—copyright, trademark, patents, and trade secrets—and which assets of
business are protectable.
Module 3 Intellectual Property
Proficiency Statement:
The student determines what intellectual property is and how to protect it in a business environment.
• Describe trademarks, trademark dilution, trademark registration, and trademark infringement.
• Describe patents and patent infringement.
• Describe copyrights, copyright infringement, and copyright protection for software.
• Describe trade secrets.
Unit 4 Contract Sales and Leases Introduction
Competency: The graduate evaluates contractual obligations of sellers, buyers, lessors, and lessees
under Article 2 of the UCC.
Unit 4 is divided into three modules. In the first module, Contracts, you will learn what makes a contract
valid and enforceable.
