Chapter 1—the Importance of Business Ethics Test Banks
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Chapter 1—The Importance of Business Ethics
MULTIPLE CHOICE
1. Principles are 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. |
ANS: C PTS: 1 REF: p. 7
2. Social responsibility is 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. |
ANS: A PTS: 1 REF: p. 13
3. The _____ was/were enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the early 2000s. 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 Act |
ANS: B PTS: 1 REF: p. 14
4. The term business ethics is best described by the following statement: a. | It is the study and philosophy of human conduct, with an emphasis on determining right and wrong. | b. | It is an "inquiry into the nature and grounds of morality where the term morality is taken to mean moral judgments, standards and rules of conduct." | c. | It is the "study of the general nature of morals and of specific moral choices; moral
Chapter 1—The Importance of Business Ethics
MULTIPLE CHOICE
1. Principles are 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. |
ANS: C PTS: 1 REF: p. 7
2. Social responsibility is 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. |
ANS: A PTS: 1 REF: p. 13
3. The _____ was/were enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the early 2000s. 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 Act |
ANS: B PTS: 1 REF: p. 14
4. The term business ethics is best described by the following statement: a. | It is the study and philosophy of human conduct, with an emphasis on determining right and wrong. | b. | It is an "inquiry into the nature and grounds of morality where the term morality is taken to mean moral judgments, standards and rules of conduct." | c. | It is the "study of the general nature of morals and of specific moral choices; moral