WGU D216 Business Law for Accountants
|OA| Objective Assessment | Actual
Questions and Answers Latest Updated
(Graded A+)
Correct
Incorrect
D216 Business Law for Accountants |OA
,Insider trading
Testing the waters
Prospectus misrepresentation
Rule 144
Which type of trademarks never receive protection?
Descriptive marks
Generic marks
Arbitrary marks
Personal name marks
Which bankruptcy filing has the advantage of being the least expensive and
complicated?
Debtor-initiated filing under Chapter 13 Repayment Plan
Debtor-initiated filing under Chapter 11 Reorganization Plan
Creditor-initiated filing under Chapter 11 Reorganization Plan
Debtor-initiated filing under Chapter 7 Liquidation
A company started a beverage company that sells a variety of juices. All the
juices are sold in a plastic bottle with the company's name, the name of the
juice, and a logo the owner found online. Which type of protection should the
owner seek for the name of the juice?
Patent
Trade secret
Copyright
Trademark
Don't know?
2 of 76
,Term
A writ of execution
Give this one a try later!
is an order that directs the sheriff to seize (levy) and sell any of the debtor's
nonexempt real or personal property.
prohibits creditors from collecting debts that the bankrupt incurred before the
petition was filed
a court's order, after a judgment has been entered against the debtor, directing the
sheriff to seize (levy) and sell any of the debtor's nonexempt real or personal
property. the proceeds of the sale are used to pay off the judgment, accrued
interest, and costs of the sale; any surplus is paid to the debtor.
the forfeiture of an individual's assets (all nonexempt) in exchange for the discharge
of debts.
Don't know?
3 of 76
Term
A father and son want to formalize their family cattle ranching
operations into a legal business entity. They want the business entity to
offer liability protection and perpetual existence as well as have a
, flow-through status for tax purposes. Which business entity is
appropriate for this situation?
S corporation
C corporation
General partnership
Sole proprietorship
Give this one a try later!
The right of a co-surety who pays
more than his or her proportionate
Members who are creditors of the
share on a debtor's default to recover
LLC
the excess paid from other co-
sureties.
The legal right of a person to be
restored, repaid, or indemnified for
S corporation
costs, expenses, or losses incurred or
expended on behalf of another.
Don't know?
4 of 76
Definition
Partners 1, 2, and 3 will have only one vote.
Give this one a try later!
|OA| Objective Assessment | Actual
Questions and Answers Latest Updated
(Graded A+)
Correct
Incorrect
D216 Business Law for Accountants |OA
,Insider trading
Testing the waters
Prospectus misrepresentation
Rule 144
Which type of trademarks never receive protection?
Descriptive marks
Generic marks
Arbitrary marks
Personal name marks
Which bankruptcy filing has the advantage of being the least expensive and
complicated?
Debtor-initiated filing under Chapter 13 Repayment Plan
Debtor-initiated filing under Chapter 11 Reorganization Plan
Creditor-initiated filing under Chapter 11 Reorganization Plan
Debtor-initiated filing under Chapter 7 Liquidation
A company started a beverage company that sells a variety of juices. All the
juices are sold in a plastic bottle with the company's name, the name of the
juice, and a logo the owner found online. Which type of protection should the
owner seek for the name of the juice?
Patent
Trade secret
Copyright
Trademark
Don't know?
2 of 76
,Term
A writ of execution
Give this one a try later!
is an order that directs the sheriff to seize (levy) and sell any of the debtor's
nonexempt real or personal property.
prohibits creditors from collecting debts that the bankrupt incurred before the
petition was filed
a court's order, after a judgment has been entered against the debtor, directing the
sheriff to seize (levy) and sell any of the debtor's nonexempt real or personal
property. the proceeds of the sale are used to pay off the judgment, accrued
interest, and costs of the sale; any surplus is paid to the debtor.
the forfeiture of an individual's assets (all nonexempt) in exchange for the discharge
of debts.
Don't know?
3 of 76
Term
A father and son want to formalize their family cattle ranching
operations into a legal business entity. They want the business entity to
offer liability protection and perpetual existence as well as have a
, flow-through status for tax purposes. Which business entity is
appropriate for this situation?
S corporation
C corporation
General partnership
Sole proprietorship
Give this one a try later!
The right of a co-surety who pays
more than his or her proportionate
Members who are creditors of the
share on a debtor's default to recover
LLC
the excess paid from other co-
sureties.
The legal right of a person to be
restored, repaid, or indemnified for
S corporation
costs, expenses, or losses incurred or
expended on behalf of another.
Don't know?
4 of 76
Definition
Partners 1, 2, and 3 will have only one vote.
Give this one a try later!
