Question 1

Under United States law,the legal owner (titleholder)of property is free to engage in any use of the property that he or she may desire.

Accepted Answer

A) True 
 B)False

Question 2

Ethical violations can cause lasting detriment to a company's ability to do business through impacts on the company's reputation.

Accepted Answer

A) True 
 B)False

Question 3

The U.S.Patriot Act and airport security regulations were enacted for the protection of:

Accepted Answer

A)  the person. 
B)  public,health,safety and morals. 
C)  the state. 
D)  personal rights. 
A)  the person. 
B)  public,health,safety and morals. 
C)  the state. 
D)  personal rights.

Question 4

Despite the importance of ethical behavior for business success,few Fortune 500 companies have codes of ethics to resolve ethical dilemmas.

Accepted Answer

A) True 
 B)False

Question 5

"Primum non nocere" is Latin for:

Accepted Answer

A)  Above all,do no harm. 
B)  Let the buyer beware. 
C)  Hear no evil,see no evil,and speak no evil. 
D)  No news is good news. 
A)  Above all,do no harm. 
B)  Let the buyer beware. 
C)  Hear no evil,see no evil,and speak no evil. 
D)  No news is good news.

Question 6

Moral relativists believe that ethical decisions will differ based on circumstances.

Accepted Answer

A) True 
 B)False

Question 7

Trust is a fundamental basis of the capitalist system that is central to the expectations of investors,customers,and other firm stakeholders.

Accepted Answer

A) True 
 B)False

Question 8

Unwillingness of businesses to voluntarily improve the ethics of their practices has little practical effect on the regulatory environment.

Accepted Answer

A) True 
 B)False

Question 9

John Harrington operates a business that almost always hires skilled workers who are college graduates;currently,however,his business does have a part-time opening for an unskilled worker.Harrington is considering hiring an uneducated welfare recipient instead of a student from the local university.Apply the "Guidelines for Analyzing a Contemplated Action" to this problem.

Accepted Answer

From the decision-maker's point of view,

Question 10

The importance of trust as a fundamental principle underlying business transactions is illustrated by expectations that:

Accepted Answer

A)  investors will be able to earn a return on their investments. 
B)  employees may be discharged at any time for any reason without notice. 
C)  litigation is inevitable because parties to agreements usually break promises. 
D)  insider trading proves that the economic system underlying business is flawed. 
A)  investors will be able to earn a return on their investments. 
B)  employees may be discharged at any time for any reason without notice. 
C)  litigation is inevitable because parties to agreements usually break promises. 
D)  insider trading proves that the economic system underlying business is flawed.

Question 11

An accumulation of complaints from employees,customers,or investors can lead to imposition of restrictive new regulations and laws.

Accepted Answer

A) True 
 B)False

Question 12

Civil disobedience is the remedy natural law proponents use to change positive law.

Accepted Answer

A) True 
 B)False

Question 13

An ethical duty of confidentiality could be breached where:

Accepted Answer

A)  information obtained through research of the employer is disclosed. 
B)  customer lists or leads are disclosed to a competitor. 
C)  proprietary information or technology of a business is disclosed. 
D)  all of the above. 
A)  information obtained through research of the employer is disclosed. 
B)  customer lists or leads are disclosed to a competitor. 
C)  proprietary information or technology of a business is disclosed. 
D)  all of the above.

Question 14

The theory of justice is based on the concept that if there were no laws or rules reasonable people would develop fair rules and standards.

Accepted Answer

A) True 
 B)False

Question 15

Differences among businesses preclude the development of any universal categories of ethical behavior.

Accepted Answer

A) True 
 B)False

Question 16

Ethics is a philosophical concept that deals with values related to the nature of human conduct.

Accepted Answer

A) True 
 B)False

Question 17

The Blanchard and Peale three-part test for resolving ethical dilemmas consists of the following questions:

Accepted Answer

A)  Is it legal? Is it ethical? Is it moral? 
B)  Is it legal? Is it balanced? How does it make me feel? 
C)  Is it ethical? Is it right? Does it pass the "front page of the newspaper" test? 
D)  Is it right? Is it balanced? Is it fair? 
A)  Is it legal? Is it ethical? Is it moral? 
B)  Is it legal? Is it balanced? How does it make me feel? 
C)  Is it ethical? Is it right? Does it pass the "front page of the newspaper" test? 
D)  Is it right? Is it balanced? Is it fair?

Question 18

In applying the "front-page-of-the-newspaper" test to a contemplated course of conduct one should ask:

Accepted Answer

A)  Would I be found criminally liable if this winds up on the front page of the newspaper? 
B)  Would I be liable for monetary damages if this winds up on the front page of the newspaper? 
C)  Would I be willing to have my spouse,friends,and children read about this if it winds up on the front page of the newspaper? 
D)  Would I be able to explain this to the authorities if it winds up on the front page of the newspaper? 
A)  Would I be found criminally liable if this winds up on the front page of the newspaper? 
B)  Would I be liable for monetary damages if this winds up on the front page of the newspaper? 
C)  Would I be willing to have my spouse,friends,and children read about this if it winds up on the front page of the newspaper? 
D)  Would I be able to explain this to the authorities if it winds up on the front page of the newspaper?

Question 19

Thomas works for an internationally-renowned computer company.As a condition of his employment,Thomas signed a confidentiality agreement,in which he agreed not to disclose any trade secrets of the firm.The company has been researching a new computer advancement,and is on the brink of introducing this product to the buying public.Before the official product release,Thomas is considering offering information related to this new advancement to one of his company's competitors for a price.What categories of ethical behavior might be impacted by Thomas' decision to disclose this information to his employer's competitor?

Accepted Answer

All of the categories of ethical behavio

Question 20

Unfortunately,there is no evidence that commitment to ethical values is linked with financial performance of business organizations.

Accepted Answer

A) True 
 B)False

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

Under United States law,the legal owner (titleholder)of property is free to engage in any use of the property that he or she may desire.

Ethical violations can cause lasting detriment to a company's ability to do business through impacts on the company's reputation.

The U.S.Patriot Act and airport security regulations were enacted for the protection of:

Despite the importance of ethical behavior for business success,few Fortune 500 companies have codes of ethics to resolve ethical dilemmas.

"Primum non nocere" is Latin for:

Moral relativists believe that ethical decisions will differ based on circumstances.

Trust is a fundamental basis of the capitalist system that is central to the expectations of investors,customers,and other firm stakeholders.

Unwillingness of businesses to voluntarily improve the ethics of their practices has little practical effect on the regulatory environment.

The importance of trust as a fundamental principle underlying business transactions is illustrated by expectations that:

An accumulation of complaints from employees,customers,or investors can lead to imposition of restrictive new regulations and laws.

Civil disobedience is the remedy natural law proponents use to change positive law.

An ethical duty of confidentiality could be breached where:

The theory of justice is based on the concept that if there were no laws or rules reasonable people would develop fair rules and standards.

Differences among businesses preclude the development of any universal categories of ethical behavior.

Ethics is a philosophical concept that deals with values related to the nature of human conduct.

The Blanchard and Peale three-part test for resolving ethical dilemmas consists of the following questions:

In applying the "front-page-of-the-newspaper" test to a contemplated course of conduct one should ask:

Unfortunately,there is no evidence that commitment to ethical values is linked with financial performance of business organizations.

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