Question 1

What does the value of justice mean?

Accepted Answer

A) To maximize the amount of wealth in society 
B) To possess a large enough supply of goods and services to meet basic demands 
C) To be safe from those wishing to interfere with your property rights. 
D) To treat all humans identically,regardless of race,class,gender,age and sexual preference. 
E) To possess the capacity or resources to act as one wishes 
A) To maximize the amount of wealth in society 
B) To possess a large enough supply of goods and services to meet basic demands 
C) To be safe from those wishing to interfere with your property rights. 
D) To treat all humans identically,regardless of race,class,gender,age and sexual preference. 
E) To possess the capacity or resources to act as one wishes D

Question 2

Which of the following is the application of ethics to special problems and opportunities experienced by those in business?

Accepted Answer

A) Business utilitarianism 
B) Business ethics 
C) Situational ethics 
D) Sarbanes-Oxley principles 
E) Consequentialism 
A) Business utilitarianism 
B) Business ethics 
C) Situational ethics 
D) Sarbanes-Oxley principles 
E) Consequentialism B

Question 3

Which of these means acting on the basis of the recognition that certain actions are right or wrong,regardless of their consequences?

Accepted Answer

A) Deontology 
B) Situational ethics 
C) Rule utilitarianism 
D) Act utilitarianism 
E) Virtue ethics 
A) Deontology 
B) Situational ethics 
C) Rule utilitarianism 
D) Act utilitarianism 
E) Virtue ethics A

Question 4

How is absolutism different from ethical relativism and situational ethics?

Accepted Answer

A) It applies utilitarianism. 
B) It applies corporate ethics principles. 
C) It holds that a cost-benefit analysis should be applied. 
D) It holds that whether an action is moral does not depend on the perspective of the person facing the ethical dilemma. 
E) It applies virtue ethics and concentrates on the accepted values of the person at issue as well as those of the community involved. 
A) It applies utilitarianism. 
B) It applies corporate ethics principles. 
C) It holds that a cost-benefit analysis should be applied. 
D) It holds that whether an action is moral does not depend on the perspective of the person facing the ethical dilemma. 
E) It applies virtue ethics and concentrates on the accepted values of the person at issue as well as those of the community involved.

Question 5

Which statement is true concerning the relationship between ethical relativism and situational ethics?

Accepted Answer

A) Like ethical relativism,situational ethics requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma;but unlike ethical relativism,situational ethics allows us to judge other people's actions. 
B) While the two theories are similar,ethical relativism upholds the existence of objective moral standards whereas situational ethics refuses to recognize the existence of objective moral standards. 
C) Like ethical relativism,situational ethics requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma and also like ethical relativism,situational ethics allows us to judge the actions of others. 
D) There is no relationship between ethical relativism and situational ethics because the theories are fundamentally opposed to each other. 
E) Ethical relativism and situational ethics are the same theory. 
A) Like ethical relativism,situational ethics requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma;but unlike ethical relativism,situational ethics allows us to judge other people's actions. 
B) While the two theories are similar,ethical relativism upholds the existence of objective moral standards whereas situational ethics refuses to recognize the existence of objective moral standards. 
C) Like ethical relativism,situational ethics requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma and also like ethical relativism,situational ethics allows us to judge the actions of others. 
D) There is no relationship between ethical relativism and situational ethics because the theories are fundamentally opposed to each other. 
E) Ethical relativism and situational ethics are the same theory.

Question 6

What does the value of security mean?

Accepted Answer

A) To possess the capacity or resources to act as one wishes 
B) To possess anything that someone is willing to grant you. 
C) To possess a large enough supply of goods and services to meet basic needs 
D) To maximize the amount of wealth in society 
E) To treat all humans identically,regardless of race,class,gender,age and sexual preference. 
A) To possess the capacity or resources to act as one wishes 
B) To possess anything that someone is willing to grant you. 
C) To possess a large enough supply of goods and services to meet basic needs 
D) To maximize the amount of wealth in society 
E) To treat all humans identically,regardless of race,class,gender,age and sexual preference.

Question 7

The community in which a firm operates would not be considered a stakeholder of the firm.

Accepted Answer

A) True 
 B)False

Question 8

According to the text,which of the following may be a part of the "Purpose" in the WPH process of decision making?

Accepted Answer

A) Efficiency,security,profit maximization,and ethics 
B) Security,ethics,community standards,and universalization 
C) Ethics,efficiency,golden,and television test 
D) Ethics,community standards,golden rule,and universalization 
E) Freedom,security,justice,and efficiency 
A) Efficiency,security,profit maximization,and ethics 
B) Security,ethics,community standards,and universalization 
C) Ethics,efficiency,golden,and television test 
D) Ethics,community standards,golden rule,and universalization 
E) Freedom,security,justice,and efficiency

Question 9

The ________ for ethical behavior seeks consideration of what the world would be like if a decision is copied by everyone else.

Accepted Answer

A) Golden rule 
B) World rule 
C) Public disclosure 
D) Relevant disclosure 
E) Universalization test 
A) Golden rule 
B) World rule 
C) Public disclosure 
D) Relevant disclosure 
E) Universalization test

Question 10

A company has to dispose of bio-hazardous waste products.Dropping them in the landfill anonymously would be the cheapest solution,but the company does not do this because it is frightened of the bad publicity which could result if it was found out.In considering the possible complicity,the company's decision was shaped by the:

Accepted Answer

A) Golden rule 
B) Public disclosure test 
C) Universalization 
D) Profit Motive 
E) WPH Method 
A) Golden rule 
B) Public disclosure test 
C) Universalization 
D) Profit Motive 
E) WPH Method

Question 11

In an ethical analysis using the WPH Framework referenced in the text,owners are the most important stakeholders and should receive the greatest consideration in decision making regardless of the type of problem addressed.

Accepted Answer

A) True 
 B)False

Question 12

If a company does not care about community expectations:

Accepted Answer

A) It should honor them anyway,to a certain extent,because of the threat that legislation will impose social obligations on them. 
B) It should ignore them completely because a company's ethical obligation is to maximize profits to shareholders. 
C) It should ignore them completely because a company's only obligation is to obey the law. 
D) It should ignore them completely because it is the company's choice whether to comply with the desires of the community. 
E) It should inform the community it will not honor its expectations because the company has a moral obligation to provide this information. 
A) It should honor them anyway,to a certain extent,because of the threat that legislation will impose social obligations on them. 
B) It should ignore them completely because a company's ethical obligation is to maximize profits to shareholders. 
C) It should ignore them completely because a company's only obligation is to obey the law. 
D) It should ignore them completely because it is the company's choice whether to comply with the desires of the community. 
E) It should inform the community it will not honor its expectations because the company has a moral obligation to provide this information.

Question 13

In some countries,businesses must pay bribes to receive supplies they need to stay in business.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is a consideration in meeting the minimal standard for a firm to be considered an ethical business?

Accepted Answer

A) Meeting the requirement of the public disclosure test. 
B) Considering the legality of a decision when choosing the means of production. 
C) Meeting the requirements of deontology. 
D) Meeting the requirement of utilitarianism. 
E) Satisfying the company's board of directors. 
A) Meeting the requirement of the public disclosure test. 
B) Considering the legality of a decision when choosing the means of production. 
C) Meeting the requirements of deontology. 
D) Meeting the requirement of utilitarianism. 
E) Satisfying the company's board of directors.

Question 15

Ethical conversation is primarily about finding the one and only right thing to do.

Accepted Answer

A) True 
 B)False

Question 16

According to the text,which of the following may be a part of the "WHO" in the WPH process of decision making?

Accepted Answer

A) Foreign entities,government officials,public/private partnerships 
B) Legislatures,ethicists,owners 
C) Consumers,owners and management 
D) Shareholders,foreign entities,legislatures 
E) Communities,public/private partnerships,and owners 
A) Foreign entities,government officials,public/private partnerships 
B) Legislatures,ethicists,owners 
C) Consumers,owners and management 
D) Shareholders,foreign entities,legislatures 
E) Communities,public/private partnerships,and owners

Question 17

Nora's roommate,Abigail,is getting ready to go out.Abigail had her hair styled and bought a new dress.Abigail asks Nora how she looks.Unfortunately,the stylist did a terrible job and the new dress is extremely unflattering.Abigail has no time to change.Discuss what Nora would say to Abigail,and why,under the following principles:
a).Deontology
b).Act utilitarianism c).Rule utilitarianism d).Virtue ethics

Accepted Answer

Student answers will likely va

Question 18

Which theory most accurately fits the advice given by Katie?

Accepted Answer

A) Deontology 
B) Rule utilitarianism 
C) Ethical relativism 
D) Act utilitarianism 
E) Virtue ethics 
A) Deontology 
B) Rule utilitarianism 
C) Ethical relativism 
D) Act utilitarianism 
E) Virtue ethics

Question 19

Which of the following is true under the WPH process of ethical decision making?

Accepted Answer

A) When decisions are made,the interest of the community as a whole is considered last. 
B) The interest of owners is ranked higher than that of both employees and management when decisions are made. 
C) There is not a framework under WPH for ranking one stakeholder above another. 
D) The interest of management is ranked higher than that of employees when decisions are made. 
E) The interest of management is ranked higher than that of employees when decisions are made,but the interest of owners is ranked higher than the interest of any group. 
A) When decisions are made,the interest of the community as a whole is considered last. 
B) The interest of owners is ranked higher than that of both employees and management when decisions are made. 
C) There is not a framework under WPH for ranking one stakeholder above another. 
D) The interest of management is ranked higher than that of employees when decisions are made. 
E) The interest of management is ranked higher than that of employees when decisions are made,but the interest of owners is ranked higher than the interest of any group.

Question 20

Which of the following is true regarding business ethics?

Accepted Answer

A) Business ethics results in a set of correct decisions and does not simply refer to standards of business conduct. 
B) Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of rule utilitarianism is followed. 
C) Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of virtue ethics is followed. 
D) Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of deontology is followed. 
E) Business ethics refers to standards of business conduct but does not result in a set of correct decisions. 
A) Business ethics results in a set of correct decisions and does not simply refer to standards of business conduct. 
B) Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of rule utilitarianism is followed. 
C) Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of virtue ethics is followed. 
D) Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of deontology is followed. 
E) Business ethics refers to standards of business conduct but does not result in a set of correct decisions.

Exam 2: Business Ethics

What does the value of justice mean?

Which of the following is the application of ethics to special problems and opportunities experienced by those in business?

Which of these means acting on the basis of the recognition that certain actions are right or wrong,regardless of their consequences?

How is absolutism different from ethical relativism and situational ethics?

Which statement is true concerning the relationship between ethical relativism and situational ethics?

What does the value of security mean?

The community in which a firm operates would not be considered a stakeholder of the firm.

According to the text,which of the following may be a part of the "Purpose" in the WPH process of decision making?

The ________ for ethical behavior seeks consideration of what the world would be like if a decision is copied by everyone else.

In an ethical analysis using the WPH Framework referenced in the text,owners are the most important stakeholders and should receive the greatest consideration in decision making regardless of the type of problem addressed.

If a company does not care about community expectations:

In some countries,businesses must pay bribes to receive supplies they need to stay in business.

Which of the following is a consideration in meeting the minimal standard for a firm to be considered an ethical business?

Ethical conversation is primarily about finding the one and only right thing to do.

According to the text,which of the following may be a part of the "WHO" in the WPH process of decision making?

Which theory most accurately fits the advice given by Katie?

Which of the following is true under the WPH process of ethical decision making?

Which of the following is true regarding business ethics?

An Introduction to Dynamic Business Law

The Uslegal System

Alternative Dispute Resolution

Constitutional Principles

International and Comparative Law

Crime and the Business Community

Tort Law

Negligence and Strict Liability

Product Liability

Liability of Accountants and Other Professionals

Intellectual Property

Introduction to Contracts

Agreement

Consideration

Capacity and Legality

Legal Assent

Contracts in Writing

Third-Party Rights to Contracts

Discharge and Remedies

Introduction to Sales and Lease Contracts

Title,risk of Loss,and Insurable Interest

Performance and Obligations Under Sales and Leases

Remedies for Breach of Sales and Lease Contracts

Warranties

Negotiable Instruments: Negotiability and Transferability

Negotiation, holder in Due Course, and Defenses

Liability, defenses, and Discharge

Checks and Electronic Fund Transfers

Secured Transactions

Other Creditors Remedies and Suretyship

Bankruptcy and Reorganization

Agency Formation and Duties

Liability to Third Parties and Termination

Forms of Business Organization

Partnerships: Nature, formation, and Operation

Partnerships: Termination and Limited Partnerships

Corporations: Formation and Financing

Corporations: Directors, officers, and Shareholders

Corporations: Mergers, consolidations, terminations

Corporations: Securities and Investor Protection

Employment and Labor Law

Employment Discrimination

Administrative Law

Consumer Law

Environmental Law

Antitrust Law

The Nature of Property, personal Property, and Bailments

Real Property

Landlord-Tenant Law

Insurance Law

Wills and Trusts

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