Question 1

Explain the theory of utilitarianism.

Accepted Answer

Under utilitarianism,an ethical decision

Question 2

According to the justice theory,_____.

Accepted Answer

A)  the decision makers' choices are to be guided by fairness and impartiality 
B)  the focus is on the process of decision making, not the outcome 
C)  society's benefits and burdens should fall on only certain segments of society 
D)  the morality of any action is determined by applying the categorical imperative 
A)  the decision makers' choices are to be guided by fairness and impartiality 
B)  the focus is on the process of decision making, not the outcome 
C)  society's benefits and burdens should fall on only certain segments of society 
D)  the morality of any action is determined by applying the categorical imperative

Question 3

In the context of the decision-making model drawn heavily from the thoughts of Joseph L.Badaracco Jr.,identify the correct statement regarding the question,"Which course of action is feasible?"

Accepted Answer

A)  This question borrows from both the modern rights theories and justice theory and it identifies which particular rights are at stake. 
B)  This question is teleological in nature in that it focuses on the morality of the consequences of the decision. 
C)  This question recognizes that ethics and morality must be practical. 
D)  This question draws from the decision maker's personal philosophy as well as the commitments he or she owes to the corporation and its shareholders. 
A)  This question borrows from both the modern rights theories and justice theory and it identifies which particular rights are at stake. 
B)  This question is teleological in nature in that it focuses on the morality of the consequences of the decision. 
C)  This question recognizes that ethics and morality must be practical. 
D)  This question draws from the decision maker's personal philosophy as well as the commitments he or she owes to the corporation and its shareholders.

Question 4

Under "act utilitarianism," _____.

Accepted Answer

A)  an ethical decision is one that minimizes utility for society as a whole 
B)  each person has an equal right to basic rights and liberties 
C)  the action is viewed as part of a rule or habit 
D)  the decision maker considers each action separately 
A)  an ethical decision is one that minimizes utility for society as a whole 
B)  each person has an equal right to basic rights and liberties 
C)  the action is viewed as part of a rule or habit 
D)  the decision maker considers each action separately

Question 5

Which of the following is true of Organization for Economic Cooperation and Development (OECD)reports?

Accepted Answer

A)  They coordinate domestic and international policies of developing countries. 
B)  They state that most codes of conduct tend to speak in positive terms, such as, a commitment to honesty. 
C)  They were created to promote rules for the corporations based on the culture of the place. 
D)  They assert that most enterprises' codes of conduct expressly publish policies that deal directly with corruption. 
A)  They coordinate domestic and international policies of developing countries. 
B)  They state that most codes of conduct tend to speak in positive terms, such as, a commitment to honesty. 
C)  They were created to promote rules for the corporations based on the culture of the place. 
D)  They assert that most enterprises' codes of conduct expressly publish policies that deal directly with corruption.

Question 6

The tendency for bad news not to get to the top is very different from groupthink.

Accepted Answer

A) True 
 B)False

Question 7

Institutional investors are specifically urged to conceal their corporate governance policies.

Accepted Answer

A) True 
 B)False

Question 8

The Sarbanes-Oxley Act:

Accepted Answer

A)  broadly defines obstruction of justice and makes obstruction of audit work papers a felony. 
B)  decreases the penalties for conscious law breaking. 
C)  decreases the likelihood of detection and prosecution of illegal behavior. 
D)  adopts the theory of allocational efficiency, under which the primary objective of a business corporation is to maximize profits. 
A)  broadly defines obstruction of justice and makes obstruction of audit work papers a felony. 
B)  decreases the penalties for conscious law breaking. 
C)  decreases the likelihood of detection and prosecution of illegal behavior. 
D)  adopts the theory of allocational efficiency, under which the primary objective of a business corporation is to maximize profits.

Question 9

The objective of the allocational efficiency theory has been promoted by economists on the grounds that firms that most efficiently use resources generally will be able to undersell their competitors.

Accepted Answer

A) True 
 B)False

Question 10

Corporations sometimes consciously choose to break the law if it poses acceptable risks such as relatively light penalties for violation,if the benefits gained by doing so are great.

Accepted Answer

A) True 
 B)False

Exam 3: Business Ethics and Corporate Social Responsibility

Explain the theory of utilitarianism.

According to the justice theory,_____.

In the context of the decision-making model drawn heavily from the thoughts of Joseph L.Badaracco Jr.,identify the correct statement regarding the question,"Which course of action is feasible?"

Under "act utilitarianism," _____.

Which of the following is true of Organization for Economic Cooperation and Development (OECD)reports?

The tendency for bad news not to get to the top is very different from groupthink.

Institutional investors are specifically urged to conceal their corporate governance policies.

The Sarbanes-Oxley Act:

The objective of the allocational efficiency theory has been promoted by economists on the grounds that firms that most efficiently use resources generally will be able to undersell their competitors.

Corporations sometimes consciously choose to break the law if it poses acceptable risks such as relatively light penalties for violation,if the benefits gained by doing so are great.

Law, Legal Reasoning, and the Legal Profession

Dispute Settlement

Business and the Constitution

Crimes

Intentional Torts

Negligence and Strict Liability

Licensing and Intellectual Propertypart Two Contracts

The Nature and Origins of Contracts

Creating a Contract: Offers

Creating a Contract: Acceptances

Consideration

Capacity to Contract

Voluntary Consent

Illegality

The Form and Meaning of Contracts

Third Parties Contract Rights

Performance and Remediespart Three Sales

Formation and Terms of Sales Contracts

Warranties and Product Liability

Performance of Sales Contracts

Remedies for Breach of Sales Contractspart Four Agency and Employment

The Agency Relationship-Creation, duties, and Termination

Liability of Principals and Agents to Third Parties

Employment Laws-Part Five Business Organizations

Which Form of Business Organization

Partnerships

Formation and Termination of Corporations

Management of the Corporate Business

Financing the Corporation and the Role of the Shareholders

Securities Regulation

Legal Liability of Accountantspart Six Property

Personal Property and Bailments

Real Property

Landlord and Tenant

Estates and Trusts

Insurance-Part Seven Commercial Paper

Negotiable Instruments

Negotiation and Holder in Due Course

Liability of Parties

Checks and Electronic Fund Transfers-Part Eight Credit Transactions

Introduction to Security

Security Interests in Personal Property

Bankruptcy-Part Nine Government Regulation

The Antitrust Laws

Consumer Protection Laws

Environmental Regulation

Filters