Chat with AIExam 4: Maintaining Good Government Relations and Business Ethics
Which of the following is an advantage of government regulations on one industry or business?
(73) 
VerifiedB
An advantage of government regulations for small businesses is that they require minimal paperwork.
(86) VerifiedFalse
Describe community relations as a form of social responsibility practiced by small firms.
(70) VerifiedThere are several areas of social responsibility in which small firms participate: (1) educational and medical assistance, (2) urban development and renewal, and (3) the arts, culture, and recreation. These refer to community relations.
Entrepreneurs and small business owners are very active in providing assistance to educational and medical institutions.
Small business owners are particularly interested in urban development and renewal.
First, it helps improve the environment in which they operate. Second, it helps provide them with a higher purpose.
Most companies-from mom-and-pop stores to large corporations-contribute in some way to hometown arts, cultural, and recreational activities. These efforts include such activities as art workshops for children, civic orchestras or ballet or opera companies, and youth sports teams. Industry trade associations are good ways for the small business owner to participate in community and charitable activities.
Government regulations encourage small firms to hire more employees.
(68) _____ is defined as trying to prevent the contamination or destruction of the natural environment.
(100) Which of the following may be a good test for ethical behavior?
(75) For small business owners, compliance with government regulations is simple and inexpensive.
(66) _____ gives the U.S. Congress the right to "regulate commerce with foreign nations, and among the several states."
(85) Which organization provides counseling, training, and technical assistance in small business management, and is partially funded by the SBA?
(74) One of the first things one should do when forming a business is to retain a competent lawyer.
(71) According to Chapter 11 of the Bankruptcy Reform Act of 1978:
(79) Bankruptcy is the inability to get funds to start a small business.
(80) Which of the following refers to a wrongful act by one party that results in injury to a second party's person, property or reputation, for which the first party is liable?
(78) _____ is a body of laws passed by federal, state, and local governments.
(72) Under bankruptcy law, people can petition the courts to be relieved of the obligation to pay debts they cannot repay.
(80) In theory, a regulatory agency is more flexible and sensitive to the needs of society than the U.S. Congress can be.
(73) 
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