Question 1

The ________ based standard requires that the majority good be placed ahead of the individual good when faced with a moral dilemma.

Accepted Answer

Utilitarian

Question 2

Religious teachings and ethics are separate and distinct and rarely if ever overlap.

Accepted Answer

A) True 
 B)False  False

Question 3

A particular act can be deemed unethical yet still be legal.

Accepted Answer

A) True 
 B)False  True

Question 4

Fly High Aviation provides maintenance for executive jets based on private contracts with corporations that maintain airplanes for company use.Which of the following is least likely to be a Fly High stakeholder?

Accepted Answer

A)  the mechanics that work for Sky High 
B)  the corporations that contract with Sky High for their services 
C)  the citizens that live near the airports that planes maintained by Sky High fly into 
D)  individuals who own Sky High stock 
A)  the mechanics that work for Sky High 
B)  the corporations that contract with Sky High for their services 
C)  the citizens that live near the airports that planes maintained by Sky High fly into 
D)  individuals who own Sky High stock

Question 5

Mighty Motors is a major automobile manufacturer with assembly plants in small towns throughout the United States.Mighty Motors is suffering losses in the current economy and has decided to stop manufacturing the Mighty Brute,an SUV with horrible gas mileage that simply isn't selling.They will also be closing the only plant that is exclusively dedicated to manufacturing the Brute.This particular assembly plant is the primary employer in the town that it is located in.Who,among the following would be considered a secondary stakeholder in this decision?

Accepted Answer

A)  Ed who has been working at the factory for ten years 
B)  See Through Glass who manufactures the windshields and side windows exclusively used in the Brute 
C)  Mike, a town resident who teaches elementary school and drives a Hyundai Sonata 
D)  Tony who runs a pizza shop that many of the plant employees go to for lunch and sometimes dinner 
A)  Ed who has been working at the factory for ten years 
B)  See Through Glass who manufactures the windshields and side windows exclusively used in the Brute 
C)  Mike, a town resident who teaches elementary school and drives a Hyundai Sonata 
D)  Tony who runs a pizza shop that many of the plant employees go to for lunch and sometimes dinner

Question 6

As of today,the Enron bankruptcy remains as the largest corporate bankruptcy in America's history.

Accepted Answer

A) True 
 B)False

Question 7

"What if everyone took these same actions" is a question sometimes called the:

Accepted Answer

A)  universalization approach. 
B)  utilitarian approach. 
C)  functionality approach. 
D)  morality approach 
A)  universalization approach. 
B)  utilitarian approach. 
C)  functionality approach. 
D)  morality approach

Question 8

As a result of the Enron scandal,Congress passed the ________ Act increasing management responsibilities and liabilities regarding those involved in the finances of public companies.

Accepted Answer

The answer of As a result of the Enron scandal,Congress...

Question 9

Immanuel Kant is credited with developing the utilitarian stream of moral reasoning.

Accepted Answer

A) True 
 B)False

Question 10

AIG received a government bailout to save the company because:

Accepted Answer

A)  had the company gone bankrupt, too many employees would have become unemployed without sufficient unemployment insurance to aid them. 
B)  had the company gone bankrupt, the effect on New York City, where it was situated, would have been a catastrophe so the bailout was actually in part to keep New York City solvent. 
C)  had the company gone bankrupt, moneys already owed to the U.S. Government prior to the collapse would never have been recovered so the bailout was necessary to keep AIG in operation until they were solvent enough to repay the government. 
D)  had the company gone bankrupt, the U.S. financial infrastructure would have been severely or even irreparably damaged 
A)  had the company gone bankrupt, too many employees would have become unemployed without sufficient unemployment insurance to aid them. 
B)  had the company gone bankrupt, the effect on New York City, where it was situated, would have been a catastrophe so the bailout was actually in part to keep New York City solvent. 
C)  had the company gone bankrupt, moneys already owed to the U.S. Government prior to the collapse would never have been recovered so the bailout was necessary to keep AIG in operation until they were solvent enough to repay the government. 
D)  had the company gone bankrupt, the U.S. financial infrastructure would have been severely or even irreparably damaged

Question 11

________ refers to the having a conscious system in use for deciding moral dilemmas.

Accepted Answer

The answer of ________ refers to the having a conscious...

Question 12

Treasury Secretary Geitner had knowledge of the AIG bonuses but failed to stop them because they were ________ obligations between a private company and its employees.

Accepted Answer

The answer of Treasury Secretary Geitner had knowledge of the...

Question 13

Generally accepted standards of right and wrong in a given society are called _______.

Accepted Answer

The answer of Generally accepted standards of right and wrong...

Question 14

KAM Corp has separate Codes of Ethics and Conduct.Each of the following would likely be included in their Code of Ethics except:

Accepted Answer

A)  expectations of privacy and dignity to be afforded others. 
B)  expectations of an individual's community service. 
C)  avoidance of conflicts of interest. 
D)  requirements of procedural due process and impartiality 
A)  expectations of privacy and dignity to be afforded others. 
B)  expectations of an individual's community service. 
C)  avoidance of conflicts of interest. 
D)  requirements of procedural due process and impartiality

Question 15

As a result of the AIG bailout,the U.S.Government received a/an ________ stake in the company.

Accepted Answer

A)  50% 
B)  60% 
C)  70% 
D)  80% 
A)  50% 
B)  60% 
C)  70% 
D)  80%

Question 16

Faber College,founded in 1904 is an integral part of its surrounding community.Which of the following is a primary stakeholder in Faber College?

Accepted Answer

A)  the students 
B)  the authors of the text books sold to the bookstore for student purchase 
C)  the local bar that student frequent when they are not studying 
D)  the community newspaper that runs a weekly column discussing the events at Faber 
A)  the students 
B)  the authors of the text books sold to the bookstore for student purchase 
C)  the local bar that student frequent when they are not studying 
D)  the community newspaper that runs a weekly column discussing the events at Faber

Question 17

People and companies that are directly and indirectly affected by another company's decisions are called _______.

Accepted Answer

The answer of People and companies that are directly and...

Question 18

Assume that you have money you'd like to invest in stock.Would you prefer to invest in a company that evidences values based on the invisible hand theory,the government's hand theory or the management's hand theory of operations? Explain reasons for your choice and indicate why the rejected choices were not chosen.

Accepted Answer

The choice that the student makes can va

Question 19

Ethical misconduct includes not only illegal and unethical practices but also includes questionable practices of managers and organizations.

Accepted Answer

A) True 
 B)False

Question 20

Tom's company has a code of ethics and a separate code of conduct.If he would like to find out about the company's expectations or requirements regarding community service,he would reference the code of ethics.

Accepted Answer

A) True 
 B)False

Exam 5: Business,Societal,and Ethical Contexts of Law

The ________ based standard requires that the majority good be placed ahead of the individual good when faced with a moral dilemma.

Religious teachings and ethics are separate and distinct and rarely if ever overlap.

A particular act can be deemed unethical yet still be legal.

Fly High Aviation provides maintenance for executive jets based on private contracts with corporations that maintain airplanes for company use.Which of the following is least likely to be a Fly High stakeholder?

As of today,the Enron bankruptcy remains as the largest corporate bankruptcy in America's history.

"What if everyone took these same actions" is a question sometimes called the:

As a result of the Enron scandal,Congress passed the ________ Act increasing management responsibilities and liabilities regarding those involved in the finances of public companies.

Immanuel Kant is credited with developing the utilitarian stream of moral reasoning.

AIG received a government bailout to save the company because:

________ refers to the having a conscious system in use for deciding moral dilemmas.

Treasury Secretary Geitner had knowledge of the AIG bonuses but failed to stop them because they were ________ obligations between a private company and its employees.

Generally accepted standards of right and wrong in a given society are called _______.

KAM Corp has separate Codes of Ethics and Conduct.Each of the following would likely be included in their Code of Ethics except:

As a result of the AIG bailout,the U.S.Government received a/an ________ stake in the company.

Faber College,founded in 1904 is an integral part of its surrounding community.Which of the following is a primary stakeholder in Faber College?

People and companies that are directly and indirectly affected by another company's decisions are called _______.

Ethical misconduct includes not only illegal and unethical practices but also includes questionable practices of managers and organizations.

Tom's company has a code of ethics and a separate code of conduct.If he would like to find out about the company's expectations or requirements regarding community service,he would reference the code of ethics.

Legal Foundations

Business and the Constitution

The American Judicial System,Jurisdiction,and Venue

Resolving Disputes: Litigation and Alternative Dispute Resolution Options

Overview and Formation of Contracts

Contract Performance: Conditions, Breach, and Remedies

Contracts for the Sale of Goods

Torts and Product Liability

Agency and Employment Relationships

Employment Regulation and Labor Law

Employment Discrimination

Choice of Business Entity, Sole Proprietorships, and Partnerships

Limited Liability Partnerships, limited Liability Companies, and Other Business Arrangements

Corporations

Regulation of Securities, corporate Governance, and Financial Markets

Administrative Law

Environmental Law

Antitrust and Regulation of Competition

Creditors Rights and Bankruptcy

Consumer Protection Law

Criminal Law and Procedure in Business

Personal Property, Real Property, and Land Use Law

Intellectual Property

International Law and Global Commerce

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