Question 1

Credit laws and laws regarding checks,notes and drafts were developed to help facilitate trade.

Accepted Answer

A) True 
 B)False  True

Question 2

The ethical category of integrity and truthfulness is best expressed as maintaining one's values and principles:

Accepted Answer

A)  so long as profits can be maintained. 
B)  so long as the costs are not great. 
C)  unless deviating will go unnoticed. 
D)  despite the consequences or costs. 
A)  so long as profits can be maintained. 
B)  so long as the costs are not great. 
C)  unless deviating will go unnoticed. 
D)  despite the consequences or costs. D

Question 3

Freedom from economic domination is a personal right protected under United States law.

Accepted Answer

A) True 
 B)False  True

Question 4

Laws that prohibit mislabeling of food,speeding,and sale of alcohol to minors exist primarily:

Accepted Answer

A)  for protection of the person. 
B)  for protection of public health,safety,and morals. 
C)  for protection of property. 
D)  for protection of the state. 
A)  for protection of the person. 
B)  for protection of public health,safety,and morals. 
C)  for protection of property. 
D)  for protection of the state.

Question 5

Rights theory:

Accepted Answer

A)  is also known an entitlement theory. 
B)  states that everyone has a set of rights. 
C)  believes that it is the government's responsibility to protect our rights. 
D)  all of the above. 
A)  is also known an entitlement theory. 
B)  states that everyone has a set of rights. 
C)  believes that it is the government's responsibility to protect our rights. 
D)  all of the above.

Question 6

Over half of all Fortune 500 firms train their employees to recognize and deal with particular types of behavior that breach their ethical codes.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following situations reflects a possible conflict of interest?

Accepted Answer

A)  You offer a company contract to a friend without checking competing bids. 
B)  You hire a relative for a company position although another candidate is more qualified. 
C)  You buy a piece of realty that would be suitable for a planned company project. 
D)  All of the above. 
A)  You offer a company contract to a friend without checking competing bids. 
B)  You hire a relative for a company position although another candidate is more qualified. 
C)  You buy a piece of realty that would be suitable for a planned company project. 
D)  All of the above.

Question 8

In applying the stakeholder model of business ethics,only the interests of important constituencies affected by an action need to be satisfied.

Accepted Answer

A) True 
 B)False

Question 9

Courts look at each case at a given point in time and are not concerned with former cases and rulings when making current decisions.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is not a question business ethicist Laura Nash has developed to help businesspeople reach the right decision in ethical dilemmas?

Accepted Answer

A)  Have you defined the problem accurately? 
B)  How would you define the problem if you stood on the other side of the fence? 
C)  How did the situation occur in the first place? 
D)  Does your proposed solution to the problem effectively balance the competing objectives of ethical decision-making and corporate profitability? 
A)  Have you defined the problem accurately? 
B)  How would you define the problem if you stood on the other side of the fence? 
C)  How did the situation occur in the first place? 
D)  Does your proposed solution to the problem effectively balance the competing objectives of ethical decision-making and corporate profitability?

Question 11

There is often a conflict between the goal of making money for shareholders and the goal of solving social problems through business.

Accepted Answer

A) True 
 B)False

Question 12

Moral standards based on positive law may allow businesses to conduct themselves unfairly so long as their actions are not illegal.

Accepted Answer

A) True 
 B)False

Question 13

Maintaining confidentiality is an ethical issue for both employees and company management.

Accepted Answer

A) True 
 B)False

Question 14

Among the guidelines for balancing the interests of various stakeholders to resolve ethical dilemmas in business are:

Accepted Answer

A)  identify potential parties who could be injured by the proposed action. 
B)  define the problem from both the decision maker's and opposing viewpoints. 
C)  ask whether you would be willing to describe a proposed action to your family,the board of directors,a congressional hearing,or other public forum. 
D)  all of the above. 
A)  identify potential parties who could be injured by the proposed action. 
B)  define the problem from both the decision maker's and opposing viewpoints. 
C)  ask whether you would be willing to describe a proposed action to your family,the board of directors,a congressional hearing,or other public forum. 
D)  all of the above.

Question 15

Individual intentions,as expressed in contracts and wills,will not be given effect in the United States unless expressly authorized by law.

Accepted Answer

A) True 
 B)False

Question 16

Recognizing that an ethical dilemma exists is usually far more difficult than resolving the dilemma once its existence is recognized.

Accepted Answer

A) True 
 B)False

Question 17

Laws that prohibit defamation,invasions of privacy,and reputation exist primarily:

Accepted Answer

A)  for protection of the person. 
B)  for protection of public health,safety,and morals. 
C)  for protection of property. 
D)  for protection of the state. 
A)  for protection of the person. 
B)  for protection of public health,safety,and morals. 
C)  for protection of property. 
D)  for protection of the state.

Question 18

Voluntary improvements in the fairness and ethics of business behavior are:

Accepted Answer

A)  less effective than those brought about by government regulation. 
B)  less costly and intrusive than those brought about by government regulation. 
C)  virtually nonexistent in corporate America. 
D)  more common in third-world countries than in the United States. 
A)  less effective than those brought about by government regulation. 
B)  less costly and intrusive than those brought about by government regulation. 
C)  virtually nonexistent in corporate America. 
D)  more common in third-world countries than in the United States.

Question 19

Federal laws on the disclosure in the sales of securities and shareholder relations were developed following the stock market crash of 1929.

Accepted Answer

A) True 
 B)False

Question 20

Mortgages,security interests,and surety relationships are legal mechanisms created primarily to promote stability and flexibility in trade.

Accepted Answer

A) True 
 B)False

Exam 3: Business Ethics, Social Forces, and the Law

Credit laws and laws regarding checks,notes and drafts were developed to help facilitate trade.

The ethical category of integrity and truthfulness is best expressed as maintaining one's values and principles:

Freedom from economic domination is a personal right protected under United States law.

Laws that prohibit mislabeling of food,speeding,and sale of alcohol to minors exist primarily:

Rights theory:

Over half of all Fortune 500 firms train their employees to recognize and deal with particular types of behavior that breach their ethical codes.

Which of the following situations reflects a possible conflict of interest?

In applying the stakeholder model of business ethics,only the interests of important constituencies affected by an action need to be satisfied.

Courts look at each case at a given point in time and are not concerned with former cases and rulings when making current decisions.

Which of the following is not a question business ethicist Laura Nash has developed to help businesspeople reach the right decision in ethical dilemmas?

There is often a conflict between the goal of making money for shareholders and the goal of solving social problems through business.

Moral standards based on positive law may allow businesses to conduct themselves unfairly so long as their actions are not illegal.

Maintaining confidentiality is an ethical issue for both employees and company management.

Among the guidelines for balancing the interests of various stakeholders to resolve ethical dilemmas in business are:

Individual intentions,as expressed in contracts and wills,will not be given effect in the United States unless expressly authorized by law.

Recognizing that an ethical dilemma exists is usually far more difficult than resolving the dilemma once its existence is recognized.

Laws that prohibit defamation,invasions of privacy,and reputation exist primarily:

Voluntary improvements in the fairness and ethics of business behavior are:

Federal laws on the disclosure in the sales of securities and shareholder relations were developed following the stock market crash of 1929.

Mortgages,security interests,and surety relationships are legal mechanisms created primarily to promote stability and flexibility in trade.

The Nature and Sources of Law

The Court System and Dispute Resolution

The Constitution As the Foundation of the Legal Environment

Government Regulation of Competition and Prices

Administrative Agencies

The Legal Environment of International Trade

Crimes

Torts

Intellectual Property Rights

Cyberlaw

Nature and Classes of Contracts: Contracting on the Internet

Formation of Contracts: Offer and Acceptance

Capacity and Genuine Assent

Consideration

Legality and Public Policy

Writing, Electronic Forms, and Interpretation of Contracts

Third Persons and Contracts

Discharge of Contracts

Breach of Contract and Remedies

Personal Property and Bailments

Legal Aspects of Supply Chain Management

Nature and Form of Sales

Title and Risk of Loss

Product Liability: Warranties and Torts

Obligations and Performance

Remedies for Breach of Sales Contracts

Kinds of Instruments, parties, and Negotiability

Transfers of Negotiable Instruments and Warranties of Parties

Liability of the Parties Under Negotiable Instruments

Checks and Funds Transfers

Nature of the Debtor-Creditor Relationship

Consumer Protection

Secured Transactions in Personal Property

Bankruptcy

Insurance

Agency

Third Persons in Agency

Regulation of Employment

Equal Employment Opportunity Law

Types of Business Organizations

Partnerships

LPs, LLCs, and LLPs

Corporate Formation

Shareholder Rights in Corporations

Securities Regulation

Accountants Liability and Malpractice

Management of Corporations

Real Property

Environmental Law and Land Use Controls

Leases

Decedents Estates and Trusts

Filters