Question 1

Which of the following,if true,MOST clearly makes Beatty's action professionally unsupportable?

Accepted Answer

A)  The supplier's low prices have helped the computer company remain competitive with rival companies in its local market. 
B)  The supplier needs continued business from the computer company to remain financially viable. 
C)  Beatty is not the only person responsible for recommending which bids to accept from suppliers. 
D)  Beatty's work contract states that employees must report all gifts from people associated with firms with which they do business. 
E)  Rumor has it that other employees also received similar gift cards from the supplier and did not report them. 
A)  The supplier's low prices have helped the computer company remain competitive with rival companies in its local market. 
B)  The supplier needs continued business from the computer company to remain financially viable. 
C)  Beatty is not the only person responsible for recommending which bids to accept from suppliers. 
D)  Beatty's work contract states that employees must report all gifts from people associated with firms with which they do business. 
E)  Rumor has it that other employees also received similar gift cards from the supplier and did not report them.

Question 2

A whistle-blower is an outsider who reports publicly on the wrongdoings of companies.

Accepted Answer

A) True 
 B)False

Question 3

What constitutes ethical behavior is determined entirely by the individual.

Accepted Answer

A) True 
 B)False

Question 4

Save-a-Bunch Hardware has tripled its prices for plywood and other building supplies after a tornado strikes the area.What business practice is Save-a-Bunch Hardware demonstrating?

Accepted Answer

A)  price gouging 
B)  price wars 
C)  price fixing 
D)  collusion 
E)  buying out competitors 
A)  price gouging 
B)  price wars 
C)  price fixing 
D)  collusion 
E)  buying out competitors

Question 5

Why has climate change become a major issue for both business and government?

Accepted Answer

A)  The body of scientific evidence is inconclusive. 
B)  The solutions to the problems are unanimous. 
C)  The weather patterns are becoming increasingly uniform. 
D)  The change in climate patterns affects the entire planet. 
E)  The effects are confined to national boundaries. 
A)  The body of scientific evidence is inconclusive. 
B)  The solutions to the problems are unanimous. 
C)  The weather patterns are becoming increasingly uniform. 
D)  The change in climate patterns affects the entire planet. 
E)  The effects are confined to national boundaries.

Question 6

A business's social responsibility to investors includes following proper accounting procedures.

Accepted Answer

A) True 
 B)False

Question 7

The CEO of Perry's Pizzeria,a rapidly growing restaurant chain,is committed to a high level of corporate social responsibility along with continued business success.Which of the following would likely be a failure in the area of legal compliance for the pizzeria?

Accepted Answer

A)  Ingredients used in Perry's pan pizza are not as healthy as those of other companies' pizza. 
B)  Female applicants are not hired for delivery jobs, even when they are capable of performing those duties. 
C)  An employee is fired after she is caught stealing money from the cash register. 
D)  Persons with certain food allergies are not hired as employees. 
E)  Perry's signature dessert is advertised as being made from a popular chocolate bar. 
A)  Ingredients used in Perry's pan pizza are not as healthy as those of other companies' pizza. 
B)  Female applicants are not hired for delivery jobs, even when they are capable of performing those duties. 
C)  An employee is fired after she is caught stealing money from the cash register. 
D)  Persons with certain food allergies are not hired as employees. 
E)  Perry's signature dessert is advertised as being made from a popular chocolate bar.

Question 8

In the United States,there are increased expectations for a greater social role for business.

Accepted Answer

A) True 
 B)False

Question 9

There is general consensus within the United States that social responsibility must take precedence over profits.

Accepted Answer

A) True 
 B)False

Question 10

The ethical norm of utility evaluates whether an act respects the rights of all parties.

Accepted Answer

A) True 
 B)False

Question 11

If a firm hides responsibility for wrongdoing,what type of stance are they taking toward social responsibility?

Accepted Answer

A)  responsible 
B)  obstructionist 
C)  accommodative 
D)  proactive 
E)  moderate 
A)  responsible 
B)  obstructionist 
C)  accommodative 
D)  proactive 
E)  moderate

Question 12

Chang is the CEO of a local furniture business.He is very committed to treating his customers with honesty and fairness.At the end of a long day,Chang knowingly accepts a $20 bill that a customer accidentally hands him instead of a $1 bill.Which of the following is MOST likely to be true of Chang?

Accepted Answer

A)  He has a highly developed set of personal ethics. 
B)  His entire business is based on unethical principles. 
C)  He has acted in a manner that runs counter to his business ethics. 
D)  His personal ethics and business ethics are consistent. 
E)  He learned his business ethics from his employees. 
A)  He has a highly developed set of personal ethics. 
B)  His entire business is based on unethical principles. 
C)  He has acted in a manner that runs counter to his business ethics. 
D)  His personal ethics and business ethics are consistent. 
E)  He learned his business ethics from his employees.

Question 13

What is the term given to the groups,individuals,and organizations that are directly affected by the practices of an organization?

Accepted Answer

A)  primary agents of interest 
B)  social auditors 
C)  senior managers 
D)  organizational stakeholders 
E)  local communities 
A)  primary agents of interest 
B)  social auditors 
C)  senior managers 
D)  organizational stakeholders 
E)  local communities

Question 14

What is insider trading? Why would an investor engage in it?

Accepted Answer

Insider trading is using confidential in

Question 15

What is the full meaning of the acronym GAAP?

Accepted Answer

A)  general action accounting points 
B)  gradually accepted activity positions 
C)  generally accepted accounting principles 
D)  greater antagonistic action plans 
E)  general action audit principles 
A)  general action accounting points 
B)  gradually accepted activity positions 
C)  generally accepted accounting principles 
D)  greater antagonistic action plans 
E)  general action audit principles

Question 16

Which of the following,if true,MOST strongly supports the financial officer's position?

Accepted Answer

A)  The employees had received and duly signed a statement agreeing to uphold the company's code of ethics. 
B)  The coworkers who reported the alleged shady deals had ethical incidents in their own personnel files. 
C)  The firm recently conducted a social audit, which revealed concern about the firm's tolerance of predatory practices by sales personnel and their impact on workplace morale. 
D)  The company's code gives very detailed definitions of what separates a responsible business transaction from one that includes dishonesty. 
E)  The strong sales performance of this department was a major factor in improving the firm's viability during an economic downturn. 
A)  The employees had received and duly signed a statement agreeing to uphold the company's code of ethics. 
B)  The coworkers who reported the alleged shady deals had ethical incidents in their own personnel files. 
C)  The firm recently conducted a social audit, which revealed concern about the firm's tolerance of predatory practices by sales personnel and their impact on workplace morale. 
D)  The company's code gives very detailed definitions of what separates a responsible business transaction from one that includes dishonesty. 
E)  The strong sales performance of this department was a major factor in improving the firm's viability during an economic downturn.

Question 17

Identify two arguments against social responsibility as a business goal.

Accepted Answer

Some skeptics of business-sponsored soci

Question 18

Which of the following questions would a company dedicated to increasing its level of corporate social responsibility be LEAST likely to ask?

Accepted Answer

A)  "How can we afford to pay our employees more?" 
B)  "Should we offer more sales in order to better serve our customers?" 
C)  "Can we purchase better quality ingredients while still making a profit?" 
D)  "Which charitable donations will make our investors most happy?" 
E)  "If our profits go up, can we lay off some of our employees?" 
A)  "How can we afford to pay our employees more?" 
B)  "Should we offer more sales in order to better serve our customers?" 
C)  "Can we purchase better quality ingredients while still making a profit?" 
D)  "Which charitable donations will make our investors most happy?" 
E)  "If our profits go up, can we lay off some of our employees?"

Question 19

What is likely the single MOST effective step that a company can take to set ethical standards?

Accepted Answer

A)  Offer large cash awards for whistle-blowing. 
B)  Suggest that employees take ethics training. 
C)  Post ethical rules on bulletin boards. 
D)  State that the workplace values diversity. 
E)  Demonstrate support from top management. 
A)  Offer large cash awards for whistle-blowing. 
B)  Suggest that employees take ethics training. 
C)  Post ethical rules on bulletin boards. 
D)  State that the workplace values diversity. 
E)  Demonstrate support from top management.

Question 20

Accepting and offering bribes is a normal part of doing business in some parts of the world.

Accepted Answer

A) True 
 B)False

Which of the following,if true,MOST clearly makes Beatty's action professionally unsupportable?

A whistle-blower is an outsider who reports publicly on the wrongdoings of companies.

What constitutes ethical behavior is determined entirely by the individual.

Save-a-Bunch Hardware has tripled its prices for plywood and other building supplies after a tornado strikes the area.What business practice is Save-a-Bunch Hardware demonstrating?

Why has climate change become a major issue for both business and government?

A business's social responsibility to investors includes following proper accounting procedures.

The CEO of Perry's Pizzeria,a rapidly growing restaurant chain,is committed to a high level of corporate social responsibility along with continued business success.Which of the following would likely be a failure in the area of legal compliance for the pizzeria?

In the United States,there are increased expectations for a greater social role for business.

There is general consensus within the United States that social responsibility must take precedence over profits.

The ethical norm of utility evaluates whether an act respects the rights of all parties.

If a firm hides responsibility for wrongdoing,what type of stance are they taking toward social responsibility?

Chang is the CEO of a local furniture business.He is very committed to treating his customers with honesty and fairness.At the end of a long day,Chang knowingly accepts a $20 bill that a customer accidentally hands him instead of a $1 bill.Which of the following is MOST likely to be true of Chang?

What is the term given to the groups,individuals,and organizations that are directly affected by the practices of an organization?

What is insider trading? Why would an investor engage in it?

What is the full meaning of the acronym GAAP?

Which of the following,if true,MOST strongly supports the financial officer's position?

Identify two arguments against social responsibility as a business goal.

Which of the following questions would a company dedicated to increasing its level of corporate social responsibility be LEAST likely to ask?

What is likely the single MOST effective step that a company can take to set ethical standards?

Accepting and offering bribes is a normal part of doing business in some parts of the world.

The U.S.Business Environment

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality for Producing Goods and Services

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 2: Understanding Business Ethics and Social Responsibility

Which of the following,if true,MOST clearly makes Beatty's action professionally unsupportable?

A whistle-blower is an outsider who reports publicly on the wrongdoings of companies.

What constitutes ethical behavior is determined entirely by the individual.

Save-a-Bunch Hardware has tripled its prices for plywood and other building supplies after a tornado strikes the area.What business practice is Save-a-Bunch Hardware demonstrating?

Why has climate change become a major issue for both business and government?

A business's social responsibility to investors includes following proper accounting procedures.

The CEO of Perry's Pizzeria,a rapidly growing restaurant chain,is committed to a high level of corporate social responsibility along with continued business success.Which of the following would likely be a failure in the area of legal compliance for the pizzeria?

In the United States,there are increased expectations for a greater social role for business.

There is general consensus within the United States that social responsibility must take precedence over profits.

The ethical norm of utility evaluates whether an act respects the rights of all parties.

If a firm hides responsibility for wrongdoing,what type of stance are they taking toward social responsibility?

Chang is the CEO of a local furniture business.He is very committed to treating his customers with honesty and fairness.At the end of a long day,Chang knowingly accepts a $20 bill that a customer accidentally hands him instead of a $1 bill.Which of the following is MOST likely to be true of Chang?

What is the term given to the groups,individuals,and organizations that are directly affected by the practices of an organization?

What is insider trading? Why would an investor engage in it?

What is the full meaning of the acronym GAAP?

Which of the following,if true,MOST strongly supports the financial officer's position?

Identify two arguments against social responsibility as a business goal.

Which of the following questions would a company dedicated to increasing its level of corporate social responsibility be LEAST likely to ask?

What is likely the single MOST effective step that a company can take to set ethical standards?

Accepting and offering bribes is a normal part of doing business in some parts of the world.

The U.S.Business Environment

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality for Producing Goods and Services

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters