Question 1

Which of the following is also referred to as ethical fundamentalism?

Accepted Answer

A)  Ethical relativism 
B)  Absolutism 
C)  Social responsibility 
D)  Ethical absolutism 
E)  Absolute theory 
A)  Ethical relativism 
B)  Absolutism 
C)  Social responsibility 
D)  Ethical absolutism 
E)  Absolute theory B

Question 2

An ethical theory that urges managers to take those actions that provide the greatest pleasure after having subtracted the pain or harm associated with the action in question is called ______.

Accepted Answer

A)  Deontology 
B)  Utilitarianism 
C)  Kantian ethics 
D)  Absolutism 
E)  Ethical relativism 
A)  Deontology 
B)  Utilitarianism 
C)  Kantian ethics 
D)  Absolutism 
E)  Ethical relativism B

Question 3

What does a reference to the "social responsibility of business" mean? Should businesses consider community expectations, and why or why not?

Accepted Answer

The social responsibility of business consists of the expectations that the community imposes on firms doing business inside its borders. These expectations must be honored to a certain extent, even when a firm wishes to ignore them, because firms are always subject to the implicit threat that legislation will impose social obligations on them. So, if the community expects businesses to obey certain standards of fairness even when the standards interfere with profit maximization, firms that choose to ignore that expectation do so at their peril.

Question 4

Which of the following requires that we see murder as a moral action as long as the murderer believes that the action is best for himself or herself?

Accepted Answer

A)  Absolutism 
B)  Deontology 
C)  Categorical imperative 
D)  Uncertainty of thought 
E)  Ethical relativism 
A)  Absolutism 
B)  Deontology 
C)  Categorical imperative 
D)  Uncertainty of thought 
E)  Ethical relativism

Question 5

Kantian ethics is involved with which of the following ethical theories?

Accepted Answer

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

Question 6

What is a difficulty with the application of virtue ethics?

Accepted Answer

A)  The applicable categorical imperatives. 
B)  The lack of agreement about the meaning of "the good life." 
C)  The applicable principle of rights. 
D)  The ethics of care analysis. 
E)  The lack of agreement regarding which rules on balance produce the greatest amount of pleasure for the greatest number of people. 
A)  The applicable categorical imperatives. 
B)  The lack of agreement about the meaning of "the good life." 
C)  The applicable principle of rights. 
D)  The ethics of care analysis. 
E)  The lack of agreement regarding which rules on balance produce the greatest amount of pleasure for the greatest number of people.

Question 7

The definition of stakeholder is the same as the definition of shareholder.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is true regarding business ethics?

Accepted Answer

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

Question 9

Business ethics is the application of ethics to the special problems and opportunities experienced by business people.

Accepted Answer

A) True 
 B)False

Question 10

"Environmental Concerns." Connie, the president of a company that makes paper, has a new interest in the environment. She recently went to a seminar on environmental dangers and has decided to take steps to clean things up. She started at home and has now felt compelled to change things at work. Connie had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river. Her company has never been cited because it employs a very large number of people in the community, including the mayor's wife and the chief-of-police's brother. On her mission to clean things up, Connie has decided to go even further than the law requires and install the very latest environmental protections. When she announced her plan, the chair of the company's board of directors, Brooke, had a meeting with Connie. Brooke told Connie to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees. Furthermore, Brooke told Connie that installing all the new equipment would result in higher prices for the company's paper product and could bankrupt the company because of foreign competition. Brooke hinted that Connie could be fired if she persisted. Brooke suggested that Connie just be concerned with a minimal standard of ethics. Connie decides to go forward with her plan to clean things up under the theory that she wants to treat others in the same manner that she wants to be treated. Under Connie's theory, if she did not understand the importance of the environmental improvements, she would want them to be thrust upon her.
-Which of the following would be a stakeholder in the above company?

Accepted Answer

A)  The community only 
B)  The shareholders only 
C)  Future generations only 
D)  The community and shareholders only 
E)  The community, shareholders, and future generations 
A)  The community only 
B)  The shareholders only 
C)  Future generations only 
D)  The community and shareholders only 
E)  The community, shareholders, and future generations

Question 11

What is the basis of consequentialism?

Accepted Answer

A)  Deontology 
B)  Categorical imperatives 
C)  Inquiry into the consequences 
D)  Disregard of consequences 
E)  Act utilitarianism 
A)  Deontology 
B)  Categorical imperatives 
C)  Inquiry into the consequences 
D)  Disregard of consequences 
E)  Act utilitarianism

Question 12

The ethical theory that requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma is called ______.

Accepted Answer

A)  Situational ethics 
B)  Ethical relativism 
C)  Absolutism 
D)  Consequentialism 
E)  Relativity ethics 
A)  Situational ethics 
B)  Ethical relativism 
C)  Absolutism 
D)  Consequentialism 
E)  Relativity ethics

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Which of the following are values in the WPH process of ethical decision making?

Accepted Answer

A)  Freedom only 
B)  Security only 
C)  Efficiency only 
D)  Freedom and security, but not efficiency 
E)  Freedom, security, and efficiency 
A)  Freedom only 
B)  Security only 
C)  Efficiency only 
D)  Freedom and security, but not efficiency 
E)  Freedom, security, and efficiency

Question 15

Situational ethics is the same thing as ethical relativism.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

A person who believes that they should not cheat on a drug test because if everyone did so, the drug test would be meaningless is applying a[n] ______.

Accepted Answer

A)  Ethics of care 
B)  Virtual analysis 
C)  Cost-benefit analysis 
D)  Fundamentalist approach 
E)  Categorical imperative 
A)  Ethics of care 
B)  Virtual analysis 
C)  Cost-benefit analysis 
D)  Fundamentalist approach 
E)  Categorical imperative

Question 18

Ethics is not an issue in accounting because of the primarily objective data involved in that field.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is the minimal standard essential for the development of business ethics?

Accepted Answer

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

Question 20

Which of the following is true regarding 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)  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. 
C)  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. 
D)  Ethical relativism and situational ethics are the same theory. 
E)  There is no relationship between ethical relativism and situational ethics because the theories are fundamentally opposed to each other. 
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)  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. 
C)  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. 
D)  Ethical relativism and situational ethics are the same theory. 
E)  There is no relationship between ethical relativism and situational ethics because the theories are fundamentally opposed to each other.

Exam 2: Business Ethics

Which of the following is also referred to as ethical fundamentalism?

An ethical theory that urges managers to take those actions that provide the greatest pleasure after having subtracted the pain or harm associated with the action in question is called ______.

What does a reference to the "social responsibility of business" mean? Should businesses consider community expectations, and why or why not?

Which of the following requires that we see murder as a moral action as long as the murderer believes that the action is best for himself or herself?

Kantian ethics is involved with which of the following ethical theories?

What is a difficulty with the application of virtue ethics?

The definition of stakeholder is the same as the definition of shareholder.

Which of the following is true regarding business ethics?

Business ethics is the application of ethics to the special problems and opportunities experienced by business people.

What is the basis of consequentialism?

The ethical theory that requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma is called ______.

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

Which of the following are values in the WPH process of ethical decision making?

Situational ethics is the same thing as ethical relativism.

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

A person who believes that they should not cheat on a drug test because if everyone did so, the drug test would be meaningless is applying a[n] ______.

Ethics is not an issue in accounting because of the primarily objective data involved in that field.

Which of the following is the minimal standard essential for the development of business ethics?

Which of the following is true regarding the relationship between ethical relativism and situational ethics?

An Introduction to Dynamic Business Law

The US Legal 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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