Question 1

The conversion of waste materials into useful products is called

Accepted Answer

A)  recycling. 
B)  solid waste recovery. 
C)  acid rain. 
D)  biomass. 
E)  toxic waste disposal. 
A)  recycling. 
B)  solid waste recovery. 
C)  acid rain. 
D)  biomass. 
E)  toxic waste disposal.

Question 2

Which of the following is an example of a company acting irresponsibly toward its investors?

Accepted Answer

A)  The board of directors does not declare a dividend 
B)  Retained earnings are used to expand research and development instead of paying a dividend 
C)  Top management misrepresents the firm's financial situation 
D)  The firm does not allow insider trading 
E)  The firm uses retained earnings to finance growth 
A)  The board of directors does not declare a dividend 
B)  Retained earnings are used to expand research and development instead of paying a dividend 
C)  Top management misrepresents the firm's financial situation 
D)  The firm does not allow insider trading 
E)  The firm uses retained earnings to finance growth

Question 3

A plumbing supply firm can win a contract with a home-building business by promising to get 500 faucet assemblies of a certain make by Tuesday morning. Actually, the customer representative finalizing the deal knows that their supplier normally takes an extra day to get them to the firm. But lately, due to the housing slowdown, shipments have been arriving a day earlier. The customer representative therefore promises Tuesday delivery to the home-building business, reasoning that if the faucets do come a day later, as they often do, he can come up with a plausible excuse.
Which of the following, if true, undermines the customer representative's ethical position?

Accepted Answer

A)  The representative knows that a snowstorm has disrupted travel at the hub through which the faucets will be shipped, so there is no way they will arrive by Tuesday. 
B)  The contract with the home-building company is important to win, as the plumbing supply firm is short on cash and needs the proceeds of the deal to pay off some pressing debts. 
C)  The home-building firm is notorious for finishing its units well after the scheduled date, so a delay in the faucets will not make that much difference. 
D)  The housing slowdown seems likely to go on in the firm's area, so it's probable that shipments will continue to come in a day early. 
E)  The customer representative and the head engineer for the home-building business play golf together regularly. 
A)  The representative knows that a snowstorm has disrupted travel at the hub through which the faucets will be shipped, so there is no way they will arrive by Tuesday. 
B)  The contract with the home-building company is important to win, as the plumbing supply firm is short on cash and needs the proceeds of the deal to pay off some pressing debts. 
C)  The home-building firm is notorious for finishing its units well after the scheduled date, so a delay in the faucets will not make that much difference. 
D)  The housing slowdown seems likely to go on in the firm's area, so it's probable that shipments will continue to come in a day early. 
E)  The customer representative and the head engineer for the home-building business play golf together regularly.

Question 4

How may a business firm show that it is socially responsible in dealing with its employees? Explain your response.

Accepted Answer

A business firm can:
- Make sure that th

Question 5

Damage to the environment by strip mining is associated with which of the following types of pollution?

Accepted Answer

A)  Noise 
B)  Land 
C)  Water 
D)  Oil 
E)  Air 
A)  Noise 
B)  Land 
C)  Water 
D)  Oil 
E)  Air

Question 6

Unlike the United States, Canada has no federal legislation that protects whistle-blowers.

Accepted Answer

A) True 
 B)False

Question 7

Explain why the counterfeiting of products is harmful to both consumers and to the legitimate companies whose products are counterfeited.

Accepted Answer

Counterfeit goods are a problem in many

Question 8

What is the difference between illegal behaviour and unethical behaviour?

Accepted Answer

A)  What is illegal varies from country to country, but what is unethical does not. 
B)  Illegal behaviour is that which breaks a country's laws, but unethical behaviour may not break any laws. 
C)  It is not possible to say what the difference is between illegal and unethical behaviour. 
D)  Illegal behaviour covers a broader range of issues than unethical behaviour. 
E)  There is no real difference between illegal and unethical behaviour. 
A)  What is illegal varies from country to country, but what is unethical does not. 
B)  Illegal behaviour is that which breaks a country's laws, but unethical behaviour may not break any laws. 
C)  It is not possible to say what the difference is between illegal and unethical behaviour. 
D)  Illegal behaviour covers a broader range of issues than unethical behaviour. 
E)  There is no real difference between illegal and unethical behaviour.

Question 9

Lance owns a small business where he sells his own paintings. He really wants to help aspiring artists, but hasn't assisted very many of them to this point. What is the most likely reason for this?

Accepted Answer

A)  He doesn't have the time or money to help aspiring artists. 
B)  He is too involved in trying to make a big profit. 
C)  He is concerned that helping aspiring artists will simply create more competition for his company. 
D)  He doesn't have an ethical code in place. 
E)  He isn't interested in corporate philanthropy. 
A)  He doesn't have the time or money to help aspiring artists. 
B)  He is too involved in trying to make a big profit. 
C)  He is concerned that helping aspiring artists will simply create more competition for his company. 
D)  He doesn't have an ethical code in place. 
E)  He isn't interested in corporate philanthropy.

Question 10

The first step in assessing whether a decision is ethical is to determine the most appropriate moral values.

Accepted Answer

A) True 
 B)False

Question 11

________ refers to ethical or unethical behaviours by a manager or employee of an organization.

Accepted Answer

A)  Social ethics 
B)  Social responsibility 
C)  Business ethics 
D)  Collusion 
E)  Cartelling 
A)  Social ethics 
B)  Social responsibility 
C)  Business ethics 
D)  Collusion 
E)  Cartelling

Question 12

All things considered, what is generally the best ethical norm to use when a person is trying to determine whether a decision is ethical?

Accepted Answer

A)  Rights 
B)  Caring 
C)  Justice 
D)  Utility 
E)  None of these 
A)  Rights 
B)  Caring 
C)  Justice 
D)  Utility 
E)  None of these

Question 13

Owners of small business firms face the same type of social concerns as larger firms, but

Accepted Answer

A)  with more demands on the owner. 
B)  on a smaller scale. 
C)  with more regulation. 
D)  with less regulation. 
E)  with more complexity. 
A)  with more demands on the owner. 
B)  on a smaller scale. 
C)  with more regulation. 
D)  with less regulation. 
E)  with more complexity.

Question 14

Atlas Corp. offers a money back guarantee on products and provides complaint hot lines for its customers. This is an example of which of the following consumer rights?

Accepted Answer

A)  Right to be informed 
B)  Right to choose 
C)  Right to be heard 
D)  Right to health and safety 
E)  Right to low prices 
A)  Right to be informed 
B)  Right to choose 
C)  Right to be heard 
D)  Right to health and safety 
E)  Right to low prices

Question 15

Which of the following illustrates consumers' rights to safe products?

Accepted Answer

A)  Clothing must be labelled with information about its proper care. 
B)  A new vacuum cleaner must be free of electrical hazards while in use cleaning a consumer's home. 
C)  There must be open competition in the marketplace. 
D)  Procter & Gamble provides a toll-free telephone number for consumers to use for complaints or questions. 
E)  Food products must list their ingredients. 
A)  Clothing must be labelled with information about its proper care. 
B)  A new vacuum cleaner must be free of electrical hazards while in use cleaning a consumer's home. 
C)  There must be open competition in the marketplace. 
D)  Procter & Gamble provides a toll-free telephone number for consumers to use for complaints or questions. 
E)  Food products must list their ingredients.

Question 16

What is recycling?

Accepted Answer

It is the conversion

Question 17

What are the four ethical norms and the issues that they deal with?

Accepted Answer

- Utility: Does a particular act optimiz

Question 18

At the end of an especially good year, a company decides to give bonuses to its sales employees. Two salespersons are included: Tracy shows a better-than-average sales record, whereas Colin was only an average salesperson. Colin has a reputation for being a straight shooter who complies strictly with the company's ethical code. On the other hand, Tracy made some deals that, as co-workers confided to middle managers, were "on the edge" of dishonesty. When the company's ethics panel reviewed one such deal, it was found to have been compliant with the letter of the stated code. Nevertheless, the financial officer recommends that both employees be given the same bonus. Which of the following, if true, might strengthen the ethical case for giving a larger bonus for Tracy?

Accepted Answer

A)  Asked to explain his tactics, Tracy said that sales work is an intrinsically competitive field, and co-workers should expect him to act in self-interest. 
B)  One of the company's key policies involves tying bonuses strictly to sales records, to ensure fairness to all personnel. 
C)  The entire sales staff had recently undergone a thorough refresher course in ethical behaviour in sales. 
D)  Middle managers felt that most of the complaints were based on jealousy over Tracy's increased success rate. 
E)  Providing a larger bonus to Tracy would give co-workers added incentive to increase their own sales records. 
A)  Asked to explain his tactics, Tracy said that sales work is an intrinsically competitive field, and co-workers should expect him to act in self-interest. 
B)  One of the company's key policies involves tying bonuses strictly to sales records, to ensure fairness to all personnel. 
C)  The entire sales staff had recently undergone a thorough refresher course in ethical behaviour in sales. 
D)  Middle managers felt that most of the complaints were based on jealousy over Tracy's increased success rate. 
E)  Providing a larger bonus to Tracy would give co-workers added incentive to increase their own sales records.

Question 19

The ________ describes the systematic analysis of a firm's success in using funds that it has earmarked for its social responsibility goals.

Accepted Answer

A)  charitable giving summary 
B)  social audit 
C)  social responsibility policy 
D)  whistle-blowing summary 
E)  strategic planning summary 
A)  charitable giving summary 
B)  social audit 
C)  social responsibility policy 
D)  whistle-blowing summary 
E)  strategic planning summary

Question 20

The CEO of TRA Corp. has stated publicly that his company will do everything that is legally required of it, but it will not contribute to charitable causes. TRA Corp.'s position is consistent with which stance to social responsibility?

Accepted Answer

A)  Proactive 
B)  Non-charitable 
C)  Obstructionist 
D)  Defensive 
E)  Accommodative 
A)  Proactive 
B)  Non-charitable 
C)  Obstructionist 
D)  Defensive 
E)  Accommodative

The conversion of waste materials into useful products is called

Which of the following is an example of a company acting irresponsibly toward its investors?

How may a business firm show that it is socially responsible in dealing with its employees? Explain your response.

Damage to the environment by strip mining is associated with which of the following types of pollution?

Unlike the United States, Canada has no federal legislation that protects whistle-blowers.

Explain why the counterfeiting of products is harmful to both consumers and to the legitimate companies whose products are counterfeited.

What is the difference between illegal behaviour and unethical behaviour?

Lance owns a small business where he sells his own paintings. He really wants to help aspiring artists, but hasn't assisted very many of them to this point. What is the most likely reason for this?

The first step in assessing whether a decision is ethical is to determine the most appropriate moral values.

________ refers to ethical or unethical behaviours by a manager or employee of an organization.

All things considered, what is generally the best ethical norm to use when a person is trying to determine whether a decision is ethical?

Owners of small business firms face the same type of social concerns as larger firms, but

Atlas Corp. offers a money back guarantee on products and provides complaint hot lines for its customers. This is an example of which of the following consumer rights?

Which of the following illustrates consumers' rights to safe products?

What is recycling?

What are the four ethical norms and the issues that they deal with?

The ________ describes the systematic analysis of a firm's success in using funds that it has earmarked for its social responsibility goals.

The CEO of TRA Corp. has stated publicly that his company will do everything that is legally required of it, but it will not contribute to charitable causes. TRA Corp.'s position is consistent with which stance to social responsibility?

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

Exam 3: Conducting Business Ethically and Responsibly

The conversion of waste materials into useful products is called

Which of the following is an example of a company acting irresponsibly toward its investors?

How may a business firm show that it is socially responsible in dealing with its employees? Explain your response.

Damage to the environment by strip mining is associated with which of the following types of pollution?

Unlike the United States, Canada has no federal legislation that protects whistle-blowers.

Explain why the counterfeiting of products is harmful to both consumers and to the legitimate companies whose products are counterfeited.

What is the difference between illegal behaviour and unethical behaviour?

Lance owns a small business where he sells his own paintings. He really wants to help aspiring artists, but hasn't assisted very many of them to this point. What is the most likely reason for this?

The first step in assessing whether a decision is ethical is to determine the most appropriate moral values.

________ refers to ethical or unethical behaviours by a manager or employee of an organization.

All things considered, what is generally the best ethical norm to use when a person is trying to determine whether a decision is ethical?

Owners of small business firms face the same type of social concerns as larger firms, but

Atlas Corp. offers a money back guarantee on products and provides complaint hot lines for its customers. This is an example of which of the following consumer rights?

Which of the following illustrates consumers' rights to safe products?

What is recycling?

What are the four ethical norms and the issues that they deal with?

The ________ describes the systematic analysis of a firm's success in using funds that it has earmarked for its social responsibility goals.

The CEO of TRA Corp. has stated publicly that his company will do everything that is legally required of it, but it will not contribute to charitable causes. TRA Corp.'s position is consistent with which stance to social responsibility?

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