Question 1

Morgan and other executive officers of Regional Economic Development Associates, Inc., apply the utilitarian theory of ethics in business contexts. Utilitarianism focuses on​

Accepted Answer

A)  ​moral values. 
B)  ​religious beliefs. 
C)  ​the consequences of an action. 
D)  ​the nature of an action. 
A)  ​moral values. 
B)  ​religious beliefs. 
C)  ​the consequences of an action. 
D)  ​the nature of an action.

Question 2

Acting in good faith gives a business firm a better chance of defending its actions in court.

Accepted Answer

A) True 
 B)False

Question 3

Duty-based ethical standards often come from religious precepts.

Accepted Answer

A) True 
 B)False

Question 4

According to utilitarianism, it does not matter how many people suffer a negative effect from an act.

Accepted Answer

A) True 
 B)False

Question 5

Sometimes, there is no "good" answer to the ethical questions that arise.

Accepted Answer

A) True 
 B)False

Question 6

Ryland, an officer for Sports Park, Inc., attempts to apply a duty-based approach to ethical reasoning in conflicts that occur on the job. This approach is based on the idea that a person must​

Accepted Answer

A)  ​achieve the greatest good for the most people. 
B)  ​avoid unethical behavior regardless of the consequences. 
C)  ​conform to society's ethical standards. 
D)  ​place his or her employer's interest first. 
A)  ​achieve the greatest good for the most people. 
B)  ​avoid unethical behavior regardless of the consequences. 
C)  ​conform to society's ethical standards. 
D)  ​place his or her employer's interest first.

Question 7

If an action is legal, it is ethical.

Accepted Answer

A) True 
 B)False

Question 8

As CEO of Alabama Archery Supplies, Bertrand applies ethical standards derived from religious principles. For businesses, religious principles can be​

Accepted Answer

A)  ​a unifying force for employees. 
B)  ​all of the choices. 
C)  ​a rallying point to increase employee motivation. 
D)  ​the basis for an action that leads to negative publicity. 
A)  ​a unifying force for employees. 
B)  ​all of the choices. 
C)  ​a rallying point to increase employee motivation. 
D)  ​the basis for an action that leads to negative publicity.

Question 9

Steaks n' Fries Restaurant Company's decision makers view a particular risk in the consumption of Steaks n' Fries' products as open and obvious. Continuing to market the products without explicitly telling consumers of the risk could be justified from a perspective of​

Accepted Answer

A)  ​duty-based ethics. 
B)  ​corporate social responsibility. 
C)  ​religious ethical principles. 
D)  ​outcome-based ethics. 
A)  ​duty-based ethics. 
B)  ​corporate social responsibility. 
C)  ​religious ethical principles. 
D)  ​outcome-based ethics.

Question 10

Julie is sales manager for Kelso's Concrete & Stone Products, Inc. In applying ethical principles to the business of the firm, Kelso's and Julie will most likely evaluate​

Accepted Answer

A)  ​what duties and responsibilities should exist for the business. 
B)  ​how to maximize profits in the short run 
C)  ​how to maximize profits in the long run. 
D)  ​marketing campaigns to counter potential bad publicity. 
A)  ​what duties and responsibilities should exist for the business. 
B)  ​how to maximize profits in the short run 
C)  ​how to maximize profits in the long run. 
D)  ​marketing campaigns to counter potential bad publicity.

Question 11

Mary works in the accounting department of New Trends Sales Company. Her job includes reviewing expense reports submitted by management and employees. In determining which expenses are "padding," Mary should apply to management​

Accepted Answer

A)  ​a different set of principles from those that apply to employees. 
B)  ​the same ethical principles that apply to employees. 
C)  ​those principles that produce the most favorable financial outcome. 
D)  ​whatever result is in the best interest of New Trends. 
A)  ​a different set of principles from those that apply to employees. 
B)  ​the same ethical principles that apply to employees. 
C)  ​those principles that produce the most favorable financial outcome. 
D)  ​whatever result is in the best interest of New Trends.

Question 12

Brewster, the chief executive officer of Cog & Gear Lubricants Corporation, wants to ensure that Cog & Gear's activities are legal and ethical. The best course for Brewster and Cog & Gear is to act​

Accepted Answer

A)  ​in good faith. 
B)  ​out of ignorance of the law. 
C)  ​with regard for the firm's shareholders only. 
D)  ​in their own self-interest. 
A)  ​in good faith. 
B)  ​out of ignorance of the law. 
C)  ​with regard for the firm's shareholders only. 
D)  ​in their own self-interest.

Question 13

It may be unethical for a company to refuse to negotiate liability claims for alleged injuries because of a faulty product.

Accepted Answer

A) True 
 B)False

Question 14

SuperMeds Corporation develops a new drug that controls severe acne. The drug is not approved by the government for sale in the United States because one of its ingredients is a banned chemical. This chemical is not banned in Mexico. Whether it is ethical for SuperMeds to sell the drug in Mexico depends on​

Accepted Answer

A)  ​the effect of any "bad" publicity from the sale. 
B)  ​the number of potential customers. 
C)  ​which legal standards are applied. 
D)  ​which ethical standards are applied. 
A)  ​the effect of any "bad" publicity from the sale. 
B)  ​the number of potential customers. 
C)  ​which legal standards are applied. 
D)  ​which ethical standards are applied.

Question 15

Companies are required to set up confidential systems so that employees can "raise red flags" about suspected illegal or unethical accounting practices.

Accepted Answer

A) True 
 B)False

Question 16

Under the principle of rights theory, one person's principles are as "right" as another's.

Accepted Answer

A) True 
 B)False

Question 17

The legality of an action is always clear.

Accepted Answer

A) True 
 B)False

Question 18

Destiny and Eduardo, investors in Competitive Acquisitions Corporation, are dissatisfied with the profit-maximization theory of corporate objectives. These investors and others who look beyond profits and dividends may consider the triple bottom line, which does not include a corporation's​

Accepted Answer

A)  ​impact on people. 
B)  ​profits. 
C)  ​impact on the planet. 
D)  ​congressional lobbying activities. 
A)  ​impact on people. 
B)  ​profits. 
C)  ​impact on the planet. 
D)  ​congressional lobbying activities.

Question 19

In ethical terms, a cost-benefit analysis is an assessment of the negative and positive effects of alternative actions on individuals.

Accepted Answer

A) True 
 B)False

Question 20

Ethical reasoning is the process through which an individual links his or her moral convictions or ethical standards to the particular situation at hand.

Accepted Answer

A) True 
 B)False

Exam 1: Business Ethics

Morgan and other executive officers of Regional Economic Development Associates, Inc., apply the utilitarian theory of ethics in business contexts. Utilitarianism focuses on​

Acting in good faith gives a business firm a better chance of defending its actions in court.

Duty-based ethical standards often come from religious precepts.

According to utilitarianism, it does not matter how many people suffer a negative effect from an act.

Sometimes, there is no "good" answer to the ethical questions that arise.

Ryland, an officer for Sports Park, Inc., attempts to apply a duty-based approach to ethical reasoning in conflicts that occur on the job. This approach is based on the idea that a person must​

If an action is legal, it is ethical.

As CEO of Alabama Archery Supplies, Bertrand applies ethical standards derived from religious principles. For businesses, religious principles can be​

Steaks n' Fries Restaurant Company's decision makers view a particular risk in the consumption of Steaks n' Fries' products as open and obvious. Continuing to market the products without explicitly telling consumers of the risk could be justified from a perspective of​

Julie is sales manager for Kelso's Concrete & Stone Products, Inc. In applying ethical principles to the business of the firm, Kelso's and Julie will most likely evaluate​

Mary works in the accounting department of New Trends Sales Company. Her job includes reviewing expense reports submitted by management and employees. In determining which expenses are "padding," Mary should apply to management​

Brewster, the chief executive officer of Cog & Gear Lubricants Corporation, wants to ensure that Cog & Gear's activities are legal and ethical. The best course for Brewster and Cog & Gear is to act​

It may be unethical for a company to refuse to negotiate liability claims for alleged injuries because of a faulty product.

Companies are required to set up confidential systems so that employees can "raise red flags" about suspected illegal or unethical accounting practices.

Under the principle of rights theory, one person's principles are as "right" as another's.

The legality of an action is always clear.

Destiny and Eduardo, investors in Competitive Acquisitions Corporation, are dissatisfied with the profit-maximization theory of corporate objectives. These investors and others who look beyond profits and dividends may consider the triple bottom line, which does not include a corporation's​

In ethical terms, a cost-benefit analysis is an assessment of the negative and positive effects of alternative actions on individuals.

Ethical reasoning is the process through which an individual links his or her moral convictions or ethical standards to the particular situation at hand.

Small Businesses and Franchises

All Forms of Partnerships

Limited Liability Companies and Special Business Forms

Corporate Formation and Financing

Corporate Directors, Officers, and Shareholders

Securities Law and Corporate Governance

Tort Law

Agency Formation and Duties

Agency Liability and Termination

Employment, Immigration, and Labor Law

Employment Discrimination

The Formation of Sales and Lease Contracts

Performance and Breach of Sales and Lease Contracts

Negotiable Instruments

Transferability and Holder in Due Course

Liability, Defenses, and Discharge

Banking in the Digital Age

Creditors Rights and Remedies

Secured Transactions

Bankruptcy Law

Professional Liability and Accountability

Administrative Agencies

Consumer Law

Environmental Protection

Antitrust Law

Personal Property and Bailments

Real Property and Landlord-Tenant Law

Intellectual Property

Insurance

Wills and Trusts

Digital Update:should Employees Have a Right of Disconnecting

Digital Update: Revenge Porn and Invasion of Privacy

Digital Update: Taxing Web Purchases

Ethics Today:what Are an Attorneys Responsibilities for Protecting Data Stored in a Cloud

Digital Update:the Exploding World of Digital Property

Filters

Morgan and other executive officers of Regional Economic Development Associates, Inc., apply the utilitarian theory of ethics in business contexts. Utilitarianism focuses on

Ryland, an officer for Sports Park, Inc., attempts to apply a duty-based approach to ethical reasoning in conflicts that occur on the job. This approach is based on the idea that a person must

As CEO of Alabama Archery Supplies, Bertrand applies ethical standards derived from religious principles. For businesses, religious principles can be

Steaks n' Fries Restaurant Company's decision makers view a particular risk in the consumption of Steaks n' Fries' products as open and obvious. Continuing to market the products without explicitly telling consumers of the risk could be justified from a perspective of

Julie is sales manager for Kelso's Concrete & Stone Products, Inc. In applying ethical principles to the business of the firm, Kelso's and Julie will most likely evaluate

Mary works in the accounting department of New Trends Sales Company. Her job includes reviewing expense reports submitted by management and employees. In determining which expenses are "padding," Mary should apply to management

Brewster, the chief executive officer of Cog & Gear Lubricants Corporation, wants to ensure that Cog & Gear's activities are legal and ethical. The best course for Brewster and Cog & Gear is to act

Destiny and Eduardo, investors in Competitive Acquisitions Corporation, are dissatisfied with the profit-maximization theory of corporate objectives. These investors and others who look beyond profits and dividends may consider the triple bottom line, which does not include a corporation's