Question 1

The management of Housemate, Inc., has decided that it will strictly comply with the law when making decisions.   Housemate will be making decisions based on

Accepted Answer

A)  the moral minimum. 
B)  the highest ethical standard. 
C)  the categorical imperative. 
D)  the most valued rights. 
A)  the moral minimum. 
B)  the highest ethical standard. 
C)  the categorical imperative. 
D)  the most valued rights. A

Question 2

Under the principle of rights theory, one person's principles are as "right" as another's.

Accepted Answer

A) True 
 B)False  False

Question 3

Obeying the law will fulfill a company ' s ethics obligations.

Accepted Answer

A) True 
 B)False  False

Question 4

As CEO of Production, Inc., before making a decision Quinn always considers how he would like to be treated by others in the same situation. Quinn tends to make decisions based on

Accepted Answer

A)  the categorical imperative. 
B)  the Golden Rule. 
C)  the principle of rights. 
D)  the Ten Commandments. 
A)  the categorical imperative. 
B)  the Golden Rule. 
C)  the principle of rights. 
D)  the Ten Commandments.

Question 5

Codex Marketing Inc. routinely makes payments to administrative employees in foreign countries in order to get paperwork processed in a timely manner. Codex

Accepted Answer

A)  must file a report with the foreign government to disclose the payments. 
B)  must file paperwork with the U.S. State Department to disclose the payments . 
C)  must keep detailed and accurate accounting records of the payments . 
D)  is violating the Foreign Corrupt Practices Act . 
A)  must file a report with the foreign government to disclose the payments. 
B)  must file paperwork with the U.S. State Department to disclose the payments . 
C)  must keep detailed and accurate accounting records of the payments . 
D)  is violating the Foreign Corrupt Practices Act .

Question 6

Plastic Paints, Inc. expends funds and takes steps to ensure that all employees are treated fairly and that the environmental impact of the corporation is minimal. This is the concept of

Accepted Answer

A)  the moral minimum. 
B)  corporate social responsibility. 
C)  the categorical imperative. 
D)  utilitarianism. 
A)  the moral minimum. 
B)  corporate social responsibility. 
C)  the categorical imperative. 
D)  utilitarianism.

Question 7

Fish n' Fries Restaurant Company makes products that can cause severe health problems to those with shellfish allergies. Fish n' Fries analyzes the cost of warning people of the risk (which they believe is obvious) and the risk of harm to people if no warning is included in advertising and on menus. This analysis most likely is part of

Accepted Answer

A)  duty-based ethics. 
B)  corporate social responsibility. 
C)  religious ethical principles. 
D)  outcome-based ethics. 
A)  duty-based ethics. 
B)  corporate social responsibility. 
C)  religious ethical principles. 
D)  outcome-based ethics.

Question 8

Because shareholders, employees, and management all share the same goals, managers rarely face ethical conflicts.

Accepted Answer

A) True 
 B)False

Question 9

Questions of what is ethical involve the extent to which a company has

Accepted Answer

A)  a legal duty beyond those duties mandated by ethics. 
B)  an ethical duty beyond those duties mandated by law. 
C)  any duty beyond those mandated by both ethics and the law. 
D)  any duty when it is uncertain whether a legal duty exists. 
A)  a legal duty beyond those duties mandated by ethics. 
B)  an ethical duty beyond those duties mandated by law. 
C)  any duty beyond those mandated by both ethics and the law. 
D)  any duty when it is uncertain whether a legal duty exists.

Question 10

The triple bottom line looks at all of the following except

Accepted Answer

A)  how decisions impact profits and revenues . 
B)  how decisions impact sustainability and the planet . 
C)  how decisions impact employees and consumers . 
D)  how decisions impact the relationship between the U.S. and other nations . 
A)  how decisions impact profits and revenues . 
B)  how decisions impact sustainability and the planet . 
C)  how decisions impact employees and consumers . 
D)  how decisions impact the relationship between the U.S. and other nations .

Question 11

Business ethics is the study of how philosophical ethics is applied in a business setting.

Accepted Answer

A) True 
 B)False

Question 12

Most large companies have implemented ethics training programs.

Accepted Answer

A) True 
 B)False

Question 13

The attitude of management does not impact the ethical standards or behavior of the company ' s employees.

Accepted Answer

A) True 
 B)False

Question 14

Under the principle of rights theory, a key factor in determining whether a business decision is ethical is how that decision

Accepted Answer

A)  compares to religious principles. 
B)  affects the rights of others. 
C)  causes consequences that would follow if everyone acted the same way. 
D)  supports the right to make a profit. 
A)  compares to religious principles. 
B)  affects the rights of others. 
C)  causes consequences that would follow if everyone acted the same way. 
D)  supports the right to make a profit.

Question 15

Ethical reasoning is the process through which an individual applies his or her moral convictions or ethical standards to a current decision or dilemma.

Accepted Answer

A) True 
 B)False

Question 16

Ethical standards based on religion involve an element of compassion.

Accepted Answer

A) True 
 B)False

Question 17

The Public Company Accounting Oversight Board can do all of the following except

Accepted Answer

A)  investigate violations of the Sarbanes-Oxley Act. 
B)  discipline accounting firms who violate the Sarbanes-Oxley Act. 
C)  change or amend the Sarbanes-Oxley Act. 
D)  inspect registered public accounting firms. 
A)  investigate violations of the Sarbanes-Oxley Act. 
B)  discipline accounting firms who violate the Sarbanes-Oxley Act. 
C)  change or amend the Sarbanes-Oxley Act. 
D)  inspect registered public accounting firms.

Question 18

Compliance with the law is not always sufficient to determine "right" behavior because

Accepted Answer

A)  the law does not codify all ethical requirements. 
B)  company codes are also sources of law. 
C)  business decisions can have negative impacts. 
D)  ethical problems occur in business. 
A)  the law does not codify all ethical requirements. 
B)  company codes are also sources of law. 
C)  business decisions can have negative impacts. 
D)  ethical problems occur in business.

Question 19

Duty-based ethical standards are most likely derived from

Accepted Answer

A)  a corporate ethics code. 
B)  a cost-benefit analysis. 
C)  philosophical reasoning. 
D)  the law. 
A)  a corporate ethics code. 
B)  a cost-benefit analysis. 
C)  philosophical reasoning. 
D)  the law.

Question 20

To be effective, an ethical compliance program must be integrated throughout a firm.

Accepted Answer

A) True 
 B)False

Exam 2: Ethics in Business

The management of Housemate, Inc., has decided that it will strictly comply with the law when making decisions. Housemate will be making decisions based on

Under the principle of rights theory, one person's principles are as "right" as another's.

Obeying the law will fulfill a company ' s ethics obligations.

As CEO of Production, Inc., before making a decision Quinn always considers how he would like to be treated by others in the same situation. Quinn tends to make decisions based on

Codex Marketing Inc. routinely makes payments to administrative employees in foreign countries in order to get paperwork processed in a timely manner. Codex

Plastic Paints, Inc. expends funds and takes steps to ensure that all employees are treated fairly and that the environmental impact of the corporation is minimal. This is the concept of

Because shareholders, employees, and management all share the same goals, managers rarely face ethical conflicts.

Questions of what is ethical involve the extent to which a company has

The triple bottom line looks at all of the following except

Business ethics is the study of how philosophical ethics is applied in a business setting.

Most large companies have implemented ethics training programs.

The attitude of management does not impact the ethical standards or behavior of the company ' s employees.

Under the principle of rights theory, a key factor in determining whether a business decision is ethical is how that decision

Ethical reasoning is the process through which an individual applies his or her moral convictions or ethical standards to a current decision or dilemma.

Ethical standards based on religion involve an element of compassion.

The Public Company Accounting Oversight Board can do all of the following except

Compliance with the law is not always sufficient to determine "right" behavior because

Duty-based ethical standards are most likely derived from

To be effective, an ethical compliance program must be integrated throughout a firm.

Introduction to the Law

The Courts and Our Legal System

Constitutional Law

Business Torts

Intellectual Property

Business Crimes

Introduction to Contracts

Offer and Acceptance

Consideration

Capacity

The Legality of Agreements

Voluntary Consent

Written Contracts

Third Party Rights

Termination and Remedies

Introduction to Sales and Lease Contracts

Title and Risk of Loss

Performance and Breach

Warranties and Product Liability

Consumer Protection

The Essentials of Negotiability

Negotiable Instruments: Transfer and Liability

Banking in the Digital Age

Agency Relationships

Employment, Immigration, and Labor Law

Employment Discrimination

Types of Business Organizations

Formation and Ownership of a Corporation

Management of a Corporation

Combining and Dissolving a Corporation

Credit and Security

Mortgages

Bankruptcy

Insurance

Personal Property

Bailments

Real Property

Landlord and Tenant Law

Wills and Trusts

Administrative Law

Antitrust Law

International and Space Law

Filters