Question 1

Social responsibility is

Accepted Answer

A)   an organization's obligation to maximize its positive effects and minimize its negative effects on stakeholders.
B)   principles and standards that guide behavior in the world of business.
C)   a business's responsibility not to pollute the environment.
D)   a business's responsibility to manufacture products that function properly.
E)   charitable contributions made by a business to enhance its image.F) A) and D)
G) A) and E)

Question 2

Having acceptable personal ethics is probably not going to be sufficient to handle complex business ethical issues when an individual has

Accepted Answer

A)   family concerns.
B)   an unethical boss.
C)   limited business experience.
D)   financial training.
E)   a marketing background.F) C) and D)
G) None of the above

Question 3

In the Reagan/Bush eras, the major focus of the business world was on

Accepted Answer

A)   self-regulation rather than regulation by government.
B)   decreasing the number of mergers.
C)   decreasing the multinational presence in the U.S. marketplace.
D)   increasing government influence on the economic arena.
E)   improving business ethics.F) D) and E)
G) C) and D) A

Question 4

Why is it important that businesspeople study business ethics?

Accepted Answer

The answer of Why is it important that businesspeople study...

Question 5

Employees' perceptions of their firm as having an ethical climate leads to

Accepted Answer

A)   lack of focus on goals.
B)   greater focus on education.
C)   increased community involvement.
D)   improved relationships with competitors.
E)   enhanced performance.F) D) and E)
G) A) and E)

Question 6

According to the rule of ethical culture in performance, all of these are drivers of profit except

Accepted Answer

A)   ethical culture.
B)   investor loyalty.
C)   employee commitment.
D)   customer satisfaction.
E)   opportunity for misconduct.F) D) and E)
G) All of the above

Question 7

Ethical culture is defined as

Accepted Answer

A)   rules, standards, and moral principles regarding what is right or wrong in specific situations.
B)   the establishment and enforcement of ethical codes throughout the organization.
C)   the development of rules and norms that are socially enforced.
D)   the codification of laws to reward organizations for taking action to prevent misconduct.
E)   the character of the decision-making process that employees use to determine whether their responses to ethical issues are right or wrong based on values and norms.F) B) and D)
G) A) and E)

Question 8

The Dodd-Frank Wall Street Reform and Consumer Protection Act

Accepted Answer

A)   was very popular among Wall Street bankers.
B)   represented only modest reform.
C)   came out of theological discussions in the 1920s.
D)   was designed to make the financial services industry more responsible.
E)   made it mandatory for public corporations to hire ethics officers.F) B) and E)
G) A) and D)

Question 9

Principles are

Accepted Answer

A)   laws and regulations that guide behavior in the world of business.
B)   mores, values, and customs that guide behavior in general.
C)   specific and pervasive boundaries for behavior that are universal and absolute.
D)   the obligations businesses assume to maximize their positive impact and minimize their negative impact on stakeholders.
E)   the mores, values, and customs that parents teach their children.F) A) and C)
G) A) and E)

Question 10

Business ethics, as a field, has passed through which of the following states?

Accepted Answer

A)   A field of study to theological discussion to recognition of social issues
B)   Recognition of social issues to a field of study to theological discussion
C)   A field of study to recognition of social issues to theological discussion
D)   Recognition of social issues to theological discussion to a field of study
E)   Theological discussion to recognition of social issues to a field of studyF) B) and C)
G) A) and B)

Question 11

Which of the following statements about the Federal Sentencing Guidelines for Organizations is false?

Accepted Answer

A)   They use a routine mechanical approach that forces all firms to use the same means to avert serious penalties.
B)   They strive to prevent misconduct.
C)   They encourage companies to develop standards and procedures capable of detecting and preventing misconduct.
D)   They utilize a carrot and stick approach by taking preventive action against misconduct.
E)   They encourage the appointment of high-level personnel responsible for oversight of the compliance program.F) B) and C)
G) C) and D)

Question 12

Which of the following is not one of the rights spelled out by John F. Kennedy in his "Consumers' Bill of Rights"?

Accepted Answer

A)   The right to choose
B)   The right to safety
C)   The right to be informed
D)   The right to be ethical
E)   The right to be heardF) C) and D)
G) A) and B)

Question 13

The six principles of the Defense Industry Initiative on Business Ethics and Conduct became the foundation for

Accepted Answer

A)   Better Business Bureau ethical guidelines.
B)   the Federal Sentencing Guidelines for Organizations.
C)   the Ethical Trading Initiative.
D)   the Federal Trade Commission compliance requirements.
E)   the Sarbanes-Oxley Act.F) C) and E)
G) A) and C) B

Question 14

Discuss the evolution of business ethics as a field of study from before 1960 to the present.

Accepted Answer

The answer of Discuss the evolution of business ethics as...

Question 15

The 1960s saw a rise of consumerism. What is consumerism?

Accepted Answer

A)   An increase in consumer rights by organizations and governments
B)   The growth of international retail chain stores
C)   Activities undertaken by independent individuals, and groups to protect their rights as consumers
D)   The widespread adoption of consumer oriented marketing strategies among businesses
E)   Organizations' tendency to seek ways to take advantage of consumersF) All of the above
G) B) and D)

Question 16

The _____ focus(es)  on firms taking action to prevent and detect business misconduct in cooperation with government regulation.

Accepted Answer

A)   United States Sentencing Commission
B)   Defense Industry Initiative on Business Ethics and Conduct
C)   World Trade Organization
D)   United Nations Global Compact
E)   Federal Sentencing Guidelines for OrganizationsF) B) and C)
G) A) and B)

Question 17

Which of the following was not a provision of the Sarbanes-Oxley Act?

Accepted Answer

A)   It stiffened penalties for corporate fraud.
B)   It created an accounting oversight board that requires corporations to establish codes of ethics for financial reporting.
C)   It required top executives to sign off on their firms' financial statements.
D)   It outlawed bribery of officials in other countries.
E)   It made securities fraud a criminal offense.F) None of the above
G) A) and C) D

Question 18

One of the major ethical issues President Obama's administration focused on was

Accepted Answer

A)   decreasing environmental legislation.
B)   deregulation.
C)   tax decreases.
D)   incentives to oil companies.
E)   health care and consumer protection.F) B) and E)
G) B) and D)

Question 19

We all learn values from sources such as family, religion, and school. Why might these sources of individual values not prove very helpful when making complex business decisions?

Accepted Answer

The answer of We all learn values from sources such...

Question 20

The _____ was/were enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the early 2000s.

Accepted Answer

A)   Defense Industry Initiative on Business Ethics and Conduct
B)   Sarbanes-Oxley Act
C)   Federal Sentencing Guidelines for Organizations
D)   Foreign Corrupt Practices Act
E)   Dodd-Frank Wall Street Reform and Consumer Protection ActF) C) and D)
G) A) and B)

Exam 1: The Importance of Business Ethics

Social responsibility is

Correct AnswerverifiedShow Answer

Having acceptable personal ethics is probably not going to be sufficient to handle complex business ethical issues when an individual has

Correct AnswerverifiedShow Answer

In the Reagan/Bush eras, the major focus of the business world was on

Correct AnswerverifiedA

Why is it important that businesspeople study business ethics?

Correct AnswerverifiedShow Answer

Employees' perceptions of their firm as having an ethical climate leads to

Correct AnswerverifiedShow Answer

According to the rule of ethical culture in performance, all of these are drivers of profit except

Correct AnswerverifiedShow Answer

Ethical culture is defined as

Correct AnswerverifiedShow Answer

The Dodd-Frank Wall Street Reform and Consumer Protection Act

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Principles are

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Business ethics, as a field, has passed through which of the following states?

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Which of the following statements about the Federal Sentencing Guidelines for Organizations is false?

Correct AnswerverifiedShow Answer

Which of the following is not one of the rights spelled out by John F. Kennedy in his "Consumers' Bill of Rights"?

Correct AnswerverifiedShow Answer

The six principles of the Defense Industry Initiative on Business Ethics and Conduct became the foundation for

Correct AnswerverifiedB

Discuss the evolution of business ethics as a field of study from before 1960 to the present.

Correct AnswerverifiedShow Answer

The 1960s saw a rise of consumerism. What is consumerism?

Correct AnswerverifiedShow Answer

The _____ focus(es) on firms taking action to prevent and detect business misconduct in cooperation with government regulation.

Correct AnswerverifiedShow Answer

Which of the following was not a provision of the Sarbanes-Oxley Act?

Correct AnswerverifiedD

One of the major ethical issues President Obama's administration focused on was

Correct AnswerverifiedShow Answer

We all learn values from sources such as family, religion, and school. Why might these sources of individual values not prove very helpful when making complex business decisions?

Correct AnswerverifiedShow Answer

The _____ was/were enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the early 2000s.

Correct AnswerverifiedShow Answer

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A

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B

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D

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