Question 1

_____ responsibilities relate to a business's contributions to stakeholders.

Accepted Answer

A)  Economic 
B)  Legal 
C)  Ethical 
D)  Voluntary 
E)  Social responsiveness 
A)  Economic 
B)  Legal 
C)  Ethical 
D)  Voluntary 
E)  Social responsiveness D

Question 2

What is a primary reason why some small businesses resist the opening of large chain retailers like Walmart or Home Depot?

Accepted Answer

A)  Because the large size creates economies of scale and they can charge lower prices 
B)  Because the selection in the stores is too large 
C)  Because large retailers attract crime to neighborhoods in which they are based 
D)  Because community leaders do not like the top management 
E)  Because large retailers almost never hire local workers as employees 
A)  Because the large size creates economies of scale and they can charge lower prices 
B)  Because the selection in the stores is too large 
C)  Because large retailers attract crime to neighborhoods in which they are based 
D)  Because community leaders do not like the top management 
E)  Because large retailers almost never hire local workers as employees A

Question 3

Anticompetitive strategies that focus on weakening or destroying a competitor have spurred antitrust legislation and include all of the following except

Accepted Answer

A)  sustained price cuts. 
B)  free samples. 
C)  discriminatory pricing. 
D)  price wars. 
E)  corporate espionage. 
A)  sustained price cuts. 
B)  free samples. 
C)  discriminatory pricing. 
D)  price wars. 
E)  corporate espionage. B

Question 4

The _____ is an independent agency within the Federal Reserve System that "regulate[s] the offering and provision of consumer financial products or services under the Federal consumer financial laws."

Accepted Answer

A)  Consumer Financial Protection Agency 
B)  Federal Reserve 
C)  World Trade Organization 
D)  Department of Justice 
E)  Federal Trade Commission 
A)  Consumer Financial Protection Agency 
B)  Federal Reserve 
C)  World Trade Organization 
D)  Department of Justice 
E)  Federal Trade Commission

Question 5

The _____ regulates tobacco, dietary supplements, vaccines, veterinary drugs, medical devices, cosmetics, products that give off radiation, and biological products.

Accepted Answer

A)  World Trade Organization 
B)  Consumer Financial Protection Agency 
C)  Department of Justice 
D)  Environmental Protection Agency 
E)  The Food and Drug Administration 
A)  World Trade Organization 
B)  Consumer Financial Protection Agency 
C)  Department of Justice 
D)  Environmental Protection Agency 
E)  The Food and Drug Administration

Question 6

Which of the following groups is not a group that receives special legal protections?

Accepted Answer

A)  The elderly 
B)  Children 
C)  Senior citizens 
D)  The highly educated 
E)  Young consumers 
A)  The elderly 
B)  Children 
C)  Senior citizens 
D)  The highly educated 
E)  Young consumers

Question 7

Companies that _____ will most likely be found in violation of procompetitive legislation.

Accepted Answer

A)  pollute waterways 
B)  knowingly harm consumers 
C)  contract with sweatshops 
D)  establish monopolies 
E)  help consumers 
A)  pollute waterways 
B)  knowingly harm consumers 
C)  contract with sweatshops 
D)  establish monopolies 
E)  help consumers

Question 8

Part of the reason why credit ratings firms did not catch major problems prior to the global financial meltdown of 2008 was because they were paid by the firms that they rank, which creates

Accepted Answer

A)  economies of scale. 
B)  synergy. 
C)  a conflict of interest. 
D)  cooperation. 
E)  efficiency. 
A)  economies of scale. 
B)  synergy. 
C)  a conflict of interest. 
D)  cooperation. 
E)  efficiency.

Question 9

Laws and regulations change over time; however, in the United States the thrust of most business legislation can be summed up as

Accepted Answer

A)  any practice is permitted. 
B)  any practice is permitted that does not substantially reduce competition and harm consumers or society. 
C)  any practice is permitted that does not substantially harm consumers or society, but this applies only within the United States. 
D)  any practice is permitted that does not harm the environment. 
E)  any practice is permitted that does not break the law. 
A)  any practice is permitted. 
B)  any practice is permitted that does not substantially reduce competition and harm consumers or society. 
C)  any practice is permitted that does not substantially harm consumers or society, but this applies only within the United States. 
D)  any practice is permitted that does not harm the environment. 
E)  any practice is permitted that does not break the law.

Question 10

Which of the following acts can be classified as procompetitive legislation?

Accepted Answer

A)  Equal Pay Act of 1963 
B)  Civil Rights Act of 1964 
C)  McCarran-Ferguson Act of 1944 
D)  Sherman Antitrust Act of 1890 
E)  Occupational Safety and Health Act of 1970 
A)  Equal Pay Act of 1963 
B)  Civil Rights Act of 1964 
C)  McCarran-Ferguson Act of 1944 
D)  Sherman Antitrust Act of 1890 
E)  Occupational Safety and Health Act of 1970

Question 11

Which of the following is not an aspect of the institutionalization of social responsibility?

Accepted Answer

A)  Voluntary practices 
B)  Legal responsibilities 
C)  Core practices 
D)  Familial responsibilities 
E)  Strategic philanthropy 
A)  Voluntary practices 
B)  Legal responsibilities 
C)  Core practices 
D)  Familial responsibilities 
E)  Strategic philanthropy

Question 12

Some, especially those in business, complain that the Sarbanes-Oxley Act and similar legislation

Accepted Answer

A)  is excessively complex and financially burdensome. 
B)  is not necessary. 
C)  is fair to all firms. 
D)  has reduced restatements of financial reports. 
E)  is too simplistic. 
A)  is excessively complex and financially burdensome. 
B)  is not necessary. 
C)  is fair to all firms. 
D)  has reduced restatements of financial reports. 
E)  is too simplistic.

Question 13

_____ focus(es) on developing sound organizational practices and integrity for financial and nonfinancial performance measures, rather than on an individual's morals.

Accepted Answer

A)  The Dodd-Frank Wall Street Reform and Consumer Protection Act 
B)  Compliance 
C)  Organizational ethics 
D)  Core practices 
E)  The Sarbanes Oxley Act 
A)  The Dodd-Frank Wall Street Reform and Consumer Protection Act 
B)  Compliance 
C)  Organizational ethics 
D)  Core practices 
E)  The Sarbanes Oxley Act

Question 14

According to the text, the opinions of society, as expressed through legislation, can change over time and different courts and government legislatures may take different views about the acceptability of specific business activities. Why is this so?

Accepted Answer

The answer of According to the text, the opinions of...

Question 15

_____ law not only prohibits specific actions in business such as fraud, theft, or securities trading violations, but also imposes fines or imprisonment as punishment for breaking the law.

Accepted Answer

A)  Civil 
B)  Criminal 
C)  Competitive 
D)  Administrative 
E)  Regulatory 
A)  Civil 
B)  Criminal 
C)  Competitive 
D)  Administrative 
E)  Regulatory

Question 16

Investigations into the financial rating industry after the financial meltdown of 2008 found all of the following except

Accepted Answer

A)  analysts cut corners when faced with less time to perform due diligence. 
B)  analysts' ratings were inaccurate. 
C)  many high ratings were based on inadequate historical data. 
D)  analysts were overwhelmed with the volume and complexity of trades. 
E)  most analysts were completely untrained and unprepared to do their jobs. 
A)  analysts cut corners when faced with less time to perform due diligence. 
B)  analysts' ratings were inaccurate. 
C)  many high ratings were based on inadequate historical data. 
D)  analysts were overwhelmed with the volume and complexity of trades. 
E)  most analysts were completely untrained and unprepared to do their jobs.

Question 17

Donation of computer equipment to schools by Toshiba would be associated with _____ responsibilities.

Accepted Answer

A)  economic 
B)  voluntary 
C)  legal 
D)  ethical 
E)  minimum 
A)  economic 
B)  voluntary 
C)  legal 
D)  ethical 
E)  minimum

Question 18

Which of the following is not a reason why the institutionalization of business ethics has progressed in recent decades?

Accepted Answer

A)  Institutionalization of ethics is now mandated for all organizations by governments around the world 
B)  Stakeholders have recognized the need for improving business ethics 
C)  The government has stepped in when scandals and misconduct have damaged key constituents of businesses 
D)  Gatekeepers have been questioned as to their contributions to major scandals 
E)  Highly ethical companies tend to be more profitable than those suffering from misconduct issues 
A)  Institutionalization of ethics is now mandated for all organizations by governments around the world 
B)  Stakeholders have recognized the need for improving business ethics 
C)  The government has stepped in when scandals and misconduct have damaged key constituents of businesses 
D)  Gatekeepers have been questioned as to their contributions to major scandals 
E)  Highly ethical companies tend to be more profitable than those suffering from misconduct issues

Question 19

Which of the following is not a benefit to businesses of engaging in voluntary responsibilities?

Accepted Answer

A)  Help create an ethical culture and values that can act as a buffer to organizational misconduct 
B)  Reduce government involvement by providing assistance to stakeholders 
C)  Develop employee leadership skills 
D)  Improve employee compensation and retention 
E)  Improve the quality of life in communities 
A)  Help create an ethical culture and values that can act as a buffer to organizational misconduct 
B)  Reduce government involvement by providing assistance to stakeholders 
C)  Develop employee leadership skills 
D)  Improve employee compensation and retention 
E)  Improve the quality of life in communities

Question 20

_____ ties giving to a business' overall strategy and objectives.

Accepted Answer

A)  Social responsibility 
B)  Business ethics 
C)  Corporate philanthropy 
D)  Strategic philanthropy 
E)  Cause-related marketing 
A)  Social responsibility 
B)  Business ethics 
C)  Corporate philanthropy 
D)  Strategic philanthropy 
E)  Cause-related marketing

_____ responsibilities relate to a business's contributions to stakeholders.

What is a primary reason why some small businesses resist the opening of large chain retailers like Walmart or Home Depot?

Anticompetitive strategies that focus on weakening or destroying a competitor have spurred antitrust legislation and include all of the following except

The _____ is an independent agency within the Federal Reserve System that "regulate[s] the offering and provision of consumer financial products or services under the Federal consumer financial laws."

The _____ regulates tobacco, dietary supplements, vaccines, veterinary drugs, medical devices, cosmetics, products that give off radiation, and biological products.

Which of the following groups is not a group that receives special legal protections?

Companies that _____ will most likely be found in violation of procompetitive legislation.

Part of the reason why credit ratings firms did not catch major problems prior to the global financial meltdown of 2008 was because they were paid by the firms that they rank, which creates

Laws and regulations change over time; however, in the United States the thrust of most business legislation can be summed up as

Which of the following acts can be classified as procompetitive legislation?

Which of the following is not an aspect of the institutionalization of social responsibility?

Some, especially those in business, complain that the Sarbanes-Oxley Act and similar legislation

_____ focus(es) on developing sound organizational practices and integrity for financial and nonfinancial performance measures, rather than on an individual's morals.

According to the text, the opinions of society, as expressed through legislation, can change over time and different courts and government legislatures may take different views about the acceptability of specific business activities. Why is this so?

_____ law not only prohibits specific actions in business such as fraud, theft, or securities trading violations, but also imposes fines or imprisonment as punishment for breaking the law.

Investigations into the financial rating industry after the financial meltdown of 2008 found all of the following except

Donation of computer equipment to schools by Toshiba would be associated with _____ responsibilities.

Which of the following is not a reason why the institutionalization of business ethics has progressed in recent decades?

Which of the following is not a benefit to businesses of engaging in voluntary responsibilities?

_____ ties giving to a business' overall strategy and objectives.

The Importance of Business Ethics

Stakeholder Relationships, Social Responsibility, and Corporate Governance

Emerging Business Ethics Issues

Ethical Decision Making and Ethical Leadership

Individual Factors: Moral Philosophies and Values

Organizational Factors: the Role of Ethical Culture and Relationships

Developing an Effective Ethics Program

Managing and Controlling Ethics Programs

Globalization of Ethical Decision Making

Filters

Exam 4: The Institutionalization of Business Ethics

_____ responsibilities relate to a business's contributions to stakeholders.

What is a primary reason why some small businesses resist the opening of large chain retailers like Walmart or Home Depot?

Anticompetitive strategies that focus on weakening or destroying a competitor have spurred antitrust legislation and include all of the following except

The _____ is an independent agency within the Federal Reserve System that "regulate[s] the offering and provision of consumer financial products or services under the Federal consumer financial laws."

The _____ regulates tobacco, dietary supplements, vaccines, veterinary drugs, medical devices, cosmetics, products that give off radiation, and biological products.

Which of the following groups is not a group that receives special legal protections?

Companies that _____ will most likely be found in violation of procompetitive legislation.

Part of the reason why credit ratings firms did not catch major problems prior to the global financial meltdown of 2008 was because they were paid by the firms that they rank, which creates

Laws and regulations change over time; however, in the United States the thrust of most business legislation can be summed up as

Which of the following acts can be classified as procompetitive legislation?

Which of the following is not an aspect of the institutionalization of social responsibility?

Some, especially those in business, complain that the Sarbanes-Oxley Act and similar legislation

_____ focus(es) on developing sound organizational practices and integrity for financial and nonfinancial performance measures, rather than on an individual's morals.

According to the text, the opinions of society, as expressed through legislation, can change over time and different courts and government legislatures may take different views about the acceptability of specific business activities. Why is this so?

_____ law not only prohibits specific actions in business such as fraud, theft, or securities trading violations, but also imposes fines or imprisonment as punishment for breaking the law.

Investigations into the financial rating industry after the financial meltdown of 2008 found all of the following except

Donation of computer equipment to schools by Toshiba would be associated with _____ responsibilities.

Which of the following is not a reason why the institutionalization of business ethics has progressed in recent decades?

Which of the following is not a benefit to businesses of engaging in voluntary responsibilities?

_____ ties giving to a business' overall strategy and objectives.

The Importance of Business Ethics

Stakeholder Relationships, Social Responsibility, and Corporate Governance

Emerging Business Ethics Issues

Ethical Decision Making and Ethical Leadership

Individual Factors: Moral Philosophies and Values

Organizational Factors: the Role of Ethical Culture and Relationships

Developing an Effective Ethics Program

Managing and Controlling Ethics Programs

Globalization of Ethical Decision Making

Filters