Question 1

What are carbon credits?

Accepted Answer

A)  Credits given to countries that produce more oil than they consume 
B)  Credits given to countries that install the most pollution equipment per capita 
C)  Credits which are purchased by countries that give them the right to pollute the atmosphere 
D)  Credits which must be purchased by countries after they have been found guilty of polluting the atmosphere 
E)  Credits that are given to countries for producing the carbon that is needed to make oil 
A)  Credits given to countries that produce more oil than they consume 
B)  Credits given to countries that install the most pollution equipment per capita 
C)  Credits which are purchased by countries that give them the right to pollute the atmosphere 
D)  Credits which must be purchased by countries after they have been found guilty of polluting the atmosphere 
E)  Credits that are given to countries for producing the carbon that is needed to make oil

Question 2

It is illegal to misrepresent a company's finances, but the situation regarding improper financial mismanagement is not so clear.

Accepted Answer

A) True 
 B)False

Question 3

What is triple bottom line reporting?

Accepted Answer

Triple bottom line reporting m

Question 4

Air Canada sued WestJet, claiming that WestJet had accessed an Air Canada website which contained confidential information. What was the outcome of the lawsuit?

Accepted Answer

A)  The court ruled that there was nothing unethical about a person from WestJet accessing the website if they could figure out how to do it. 
B)  WestJet admitted it had behaved in an unethical fashion, paid Air Canada $5 million dollars, and gave $10 million to children's charities. 
C)  Air Canada was able to show that it had lost a lot of business because of the incident, and WestJet had to reimburse Air Canada for the lost business. 
D)  The court declined to rule on the case. 
E)  The court ruled that this was merely a competitive squabble between two companies and that no fine would be imposed. 
A)  The court ruled that there was nothing unethical about a person from WestJet accessing the website if they could figure out how to do it. 
B)  WestJet admitted it had behaved in an unethical fashion, paid Air Canada $5 million dollars, and gave $10 million to children's charities. 
C)  Air Canada was able to show that it had lost a lot of business because of the incident, and WestJet had to reimburse Air Canada for the lost business. 
D)  The court declined to rule on the case. 
E)  The court ruled that this was merely a competitive squabble between two companies and that no fine would be imposed.

Question 5

Publication of a company's code of ethics ensures that employees will perform their duties in an ethical manner.

Accepted Answer

A) True 
 B)False

Question 6

Executives at MKD Transportation have just been contacted by the media with a report that one of their ships is leaking an oily substance off the coast of Belize. If MKD adopts a defensive stance, how will the company respond to this situation?

Accepted Answer

MKD will file the necessary re

Question 7

Under the Canadian and Ontario Environmental Protection Act, liability for a business firm can run as high as ________ per day.

Accepted Answer

A)  $10 000 
B)  $500 000 
C)  $25 000 
D)  $2 000 000 
E)  $5 000 000 
A)  $10 000 
B)  $500 000 
C)  $25 000 
D)  $2 000 000 
E)  $5 000 000

Question 8

In the past, "gentlemen's agreements" were often used to avoid competition or to divide up a market so that firms did not have to truly compete against each other. Which consumer right is being violated when companies block competition?

Accepted Answer

A)  Right to be heard 
B)  Right to choose 
C)  Right of consumers 
D)  Right to safety 
E)  Right to competition 
A)  Right to be heard 
B)  Right to choose 
C)  Right of consumers 
D)  Right to safety 
E)  Right to competition

Question 9

What steps should be taken when a firm decides that it wants to become socially responsible? Explain.

Accepted Answer

Four steps to becoming socially responsi

Question 10

Jennifer is about to start her first job. Which of the following is least likely to be an influence on her ethics and behaviour?

Accepted Answer

A)  Her past experiences 
B)  The code of ethics in that firm 
C)  Her family and friends 
D)  Her peers at school 
E)  Religious teaching she may have received 
A)  Her past experiences 
B)  The code of ethics in that firm 
C)  Her family and friends 
D)  Her peers at school 
E)  Religious teaching she may have received

Question 11

What are the arguments for and against business behaving in a socially responsible manner?

Accepted Answer

- In favour: corporations need to help i

Question 12

Describe the stakeholder model of social responsibility.

Accepted Answer

Companies that strive to be responsible

Question 13

The first step in the simplified three-step model for applying ethical judgments to situations that may arise during the course of business activities is to

Accepted Answer

A)  determine the norms that relate to the situation. 
B)  determine the most appropriate moral values. 
C)  determine the implications of breaching the activity or policy. 
D)  gather the relevant factual information. 
E)  make an ethical judgment based on the rightness or wrongness of the proposed activity or policy. 
A)  determine the norms that relate to the situation. 
B)  determine the most appropriate moral values. 
C)  determine the implications of breaching the activity or policy. 
D)  gather the relevant factual information. 
E)  make an ethical judgment based on the rightness or wrongness of the proposed activity or policy.

Question 14

What is the purpose of a social audit?

Accepted Answer

A)  To conduct a systematic analysis of how a firm has used funds that are earmarked for social programs 
B)  To determine the impact of a company's social involvement on the local community 
C)  To determine the specific area of need for a firm's social responsibility actions 
D)  To determine the anticipated costs and benefits of dealing with a social concern 
E)  To audit the social functions the firm puts on for employees 
A)  To conduct a systematic analysis of how a firm has used funds that are earmarked for social programs 
B)  To determine the impact of a company's social involvement on the local community 
C)  To determine the specific area of need for a firm's social responsibility actions 
D)  To determine the anticipated costs and benefits of dealing with a social concern 
E)  To audit the social functions the firm puts on for employees

Question 15

While on a business trip, a manager takes some friends to dinner for a social evening and then charges the dinner to his company's expense account. The ________ norm would ask "Is this fair"?

Accepted Answer

A)  utility 
B)  rights 
C)  justice 
D)  caring 
E)  reciprocity 
A)  utility 
B)  rights 
C)  justice 
D)  caring 
E)  reciprocity

Question 16

Which of the following illustrates how a company could be irresponsible with respect to its investors?

Accepted Answer

A)  Use profits to fund research and development 
B)  The president overstates the positive impact of a new contract 
C)  The board of directors declares a stock split 
D)  Management accepts a takeover bid from another company 
E)  No dividends are declared even though the company made a profit 
A)  Use profits to fund research and development 
B)  The president overstates the positive impact of a new contract 
C)  The board of directors declares a stock split 
D)  Management accepts a takeover bid from another company 
E)  No dividends are declared even though the company made a profit

Question 17

Steve Beatty, the head salesperson of a computer company, contracts with a supplier for technical equipment. Just before the winter holiday, a greeting card comes to his home address from the president of the supplier. In it, he finds a Best Buy gift card worth $500, with a note that says, "Go buy some toys for the kids." His children are excited, because they had been looking forward to getting some newly released video game equipment. Beatty looks at his firm's formal code of ethics and finds that employees are cautioned not to accept gifts from suppliers for their own personal use. It does not specifically say that gifts for family members are included. He decides to keep the card.
Which of the following, if true, most clearly makes Beatty's action professionally unsupportable?

Accepted Answer

A)  The supplier's low prices have helped the computer company remain competitive with rival companies in its local market. 
B)  The supplier needs continued business from the computer company to remain financially viable. 
C)  Beatty is not the only person responsible for recommending which bids to accept from suppliers. 
D)  Beatty's work contract states that employees must report all gifts from people associated with firms with which they do business. 
E)  Rumour has it that other employees also received similar gift cards from the supplier and did not report them. 
A)  The supplier's low prices have helped the computer company remain competitive with rival companies in its local market. 
B)  The supplier needs continued business from the computer company to remain financially viable. 
C)  Beatty is not the only person responsible for recommending which bids to accept from suppliers. 
D)  Beatty's work contract states that employees must report all gifts from people associated with firms with which they do business. 
E)  Rumour has it that other employees also received similar gift cards from the supplier and did not report them.

Question 18

List five general categories of organizational stakeholders.

Accepted Answer

Customers, employees

Question 19

When DaimlerChrysler originally introduced the PT Cruiser, demand was so strong that some dealers would sell one only if the customer was willing to pay several thousand dollars over the sticker price. This is an example of

Accepted Answer

A)  effective business practice. 
B)  price gouging. 
C)  collusion. 
D)  profit maximization. 
E)  price lining. 
A)  effective business practice. 
B)  price gouging. 
C)  collusion. 
D)  profit maximization. 
E)  price lining.

Question 20

Paramount Pizza wants to be seen as a socially responsibility company. It can support its claim of being a socially responsible company by

Accepted Answer

A)  using more nutritious ingredients even if they are more expensive. 
B)  cutting employees' wages and benefits in order to boost the company's stock price. 
C)  reducing pizza size while holding the price constant. 
D)  packaging products in material that costs less, even if customers object to the change. 
E)  taking actions to force competitors into bankruptcy. 
A)  using more nutritious ingredients even if they are more expensive. 
B)  cutting employees' wages and benefits in order to boost the company's stock price. 
C)  reducing pizza size while holding the price constant. 
D)  packaging products in material that costs less, even if customers object to the change. 
E)  taking actions to force competitors into bankruptcy.

What are carbon credits?

It is illegal to misrepresent a company's finances, but the situation regarding improper financial mismanagement is not so clear.

What is triple bottom line reporting?

Air Canada sued WestJet, claiming that WestJet had accessed an Air Canada website which contained confidential information. What was the outcome of the lawsuit?

Publication of a company's code of ethics ensures that employees will perform their duties in an ethical manner.

Executives at MKD Transportation have just been contacted by the media with a report that one of their ships is leaking an oily substance off the coast of Belize. If MKD adopts a defensive stance, how will the company respond to this situation?

Under the Canadian and Ontario Environmental Protection Act, liability for a business firm can run as high as ________ per day.

In the past, "gentlemen's agreements" were often used to avoid competition or to divide up a market so that firms did not have to truly compete against each other. Which consumer right is being violated when companies block competition?

What steps should be taken when a firm decides that it wants to become socially responsible? Explain.

Jennifer is about to start her first job. Which of the following is least likely to be an influence on her ethics and behaviour?

What are the arguments for and against business behaving in a socially responsible manner?

Describe the stakeholder model of social responsibility.

The first step in the simplified three-step model for applying ethical judgments to situations that may arise during the course of business activities is to

What is the purpose of a social audit?

While on a business trip, a manager takes some friends to dinner for a social evening and then charges the dinner to his company's expense account. The ________ norm would ask "Is this fair"?

Which of the following illustrates how a company could be irresponsible with respect to its investors?

List five general categories of organizational stakeholders.

When DaimlerChrysler originally introduced the PT Cruiser, demand was so strong that some dealers would sell one only if the customer was willing to pay several thousand dollars over the sticker price. This is an example of

Paramount Pizza wants to be seen as a socially responsibility company. It can support its claim of being a socially responsible company by

Understanding the Canadian Business System

The Environment of Business

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

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Exam 3: Conducting Business Ethically and Responsibly

What are carbon credits?

It is illegal to misrepresent a company's finances, but the situation regarding improper financial mismanagement is not so clear.

What is triple bottom line reporting?

Air Canada sued WestJet, claiming that WestJet had accessed an Air Canada website which contained confidential information. What was the outcome of the lawsuit?

Publication of a company's code of ethics ensures that employees will perform their duties in an ethical manner.

Executives at MKD Transportation have just been contacted by the media with a report that one of their ships is leaking an oily substance off the coast of Belize. If MKD adopts a defensive stance, how will the company respond to this situation?

Under the Canadian and Ontario Environmental Protection Act, liability for a business firm can run as high as ________ per day.

In the past, "gentlemen's agreements" were often used to avoid competition or to divide up a market so that firms did not have to truly compete against each other. Which consumer right is being violated when companies block competition?

What steps should be taken when a firm decides that it wants to become socially responsible? Explain.

Jennifer is about to start her first job. Which of the following is least likely to be an influence on her ethics and behaviour?

What are the arguments for and against business behaving in a socially responsible manner?

Describe the stakeholder model of social responsibility.

The first step in the simplified three-step model for applying ethical judgments to situations that may arise during the course of business activities is to

What is the purpose of a social audit?

While on a business trip, a manager takes some friends to dinner for a social evening and then charges the dinner to his company's expense account. The ________ norm would ask "Is this fair"?

Which of the following illustrates how a company could be irresponsible with respect to its investors?

List five general categories of organizational stakeholders.

When DaimlerChrysler originally introduced the PT Cruiser, demand was so strong that some dealers would sell one only if the customer was willing to pay several thousand dollars over the sticker price. This is an example of

Paramount Pizza wants to be seen as a socially responsibility company. It can support its claim of being a socially responsible company by

Understanding the Canadian Business System

The Environment of Business

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters