Deck 4: Maintaining Good Government Relations and Business Ethics

Question 1

Which of the following will a small business owner consult to locate a lawyer to help with government regulations?

A) The Martindale-Hubbell Law Directory
B) The General Accounting Office
C) The National Small Business Association
D) Case Law Information Services

Answer 1

A

Question 2

Which government organization grants awards for the "Small Business Persons of the Year"?

A) Small Business Administration
B) Production Credit Association
C) U.S. Department of Commerce
D) Small Business Development Center

Answer 2

A

Question 3

According to Chapter 11 of the Bankruptcy Reform Act of 1978:

A) the firm that files for bankruptcy protection cannot operate while its debts are being repaid.
B) society should compensate those who have suffered an injury as a result of wrongful action(s) by others.
C) if the business is so far gone that it cannot keep operating, it must be liquidated.
D) the bankrupt business can be reorganized only when the bankruptcy petition is filed voluntarily.

Answer 3

C

Question 4

_____ is the organized efforts of independent, government, and business groups to protect end users from undesirable effects of poorly designed and produced products.

A) Polarization
B) Conservation
C) Consumerism
D) Protectionism

Question 5

The function of the Small Business Administration is to:

A) protect consumers from undesirable effects of poorly designed and poorly produced products of small businesses.
B) enforce pollution control standards for small businesses.
C) provide loans to small businesses.
D) provide demographic information to small businesses.

Question 6

What is bankruptcy?

A) It is a wrongful act by one party that results in injury to a second party's person, property, or reputation, for which the first party is liable.
B) It is a HYPERLINK "http://www.investorwords.com/2756/legal.html" legal process by which the lender takes away the borrower's HYPERLINK "http://www.investorwords.com/4282/right.html" right to a HYPERLINK "http://www.investorwords.com/3900/property.html" property.
C) It is a body of laws passed by state governments.
D) It is a formal legal condition of inability to repay debts.

Question 7

_____ is a body of laws passed by federal, state, and local governments.

A) Common law
B) Police law
C) Judicial law
D) Statutory law

Question 8

Which of the following is true for criminal law?

A) It deals with punishing those who commit illegal acts.
B) It deals with the rights and powers of the government.
C) It implies that everyone is entitled to a day in court.
D) It is an unwritten law derived from judicial decisions.

Question 9

Which of the following is an advantage of government regulations on one industry or business?

A) They are clear and easy to understand.
B) They often generate opportunities for other small businesses.
C) They require very little paperwork.
D) They encourage small firms to hire more workers.

Question 10

Which of the following is true of police power?

A) It allows the state to regulate commerce with foreign nations and among the several states.
B) It is the right to use the force of the state to promote the general welfare of citizens.
C) It is an unwritten law derived from judicial decisions based on acceptable customs.
D) It deals with the rights and powers of the government.

Question 11

Which of the following is true about bankruptcy?

A) When one or more creditors file the bankruptcy petition against the debtor, it's called ordinary bankruptcy.
B) Chapter 11 of the Bankruptcy Reform Act of 1978 contains a provision for reorganizing the bankrupt business only when the bankruptcy petition is filed voluntarily.
C) Involuntary bankruptcy occurs when a debtor files an application with a court claiming that debts exceed assets and asks to be declared bankrupt.
D) Under bankruptcy law, people or businesses can petition the courts to be relieved of the obligation to pay debts they cannot repay.

Question 12

Which of the following is a disadvantage of government regulations?

A) They require an excessive amount of paperwork.
B) They mandate that small businesses must report to the U.S. Department of Commerce.
C) They make it compulsory to hire a lawyer in a small firm.
D) They limit opportunities for other small businesses.

Question 13

The Small Business _____ Act requires each federal agency to set up compliance centers to help small businesses deal with pending legislation.

A) Emergency Supplemental Appropriations
B) Community Learning Centers
C) Regulatory Enforcement Fairness
D) Worker Adjustment and Retraining

Question 14

_____ is a group of volunteer members who specialize in helping people develop their business ideas.

A) Small Business Development Center
B) Service Corps of Retired Executives
C) Production Credit Association
D) Officers' Welfare Association

Question 15

_____ law is administered between two or more citizens.

A) Public
B) Criminal
C) Private
D) Civil

Question 16

Which organization provides counseling, training, and technical assistance in small business management, and is partially funded by the SBA?

A) Small Business Correction Center
B) Small Business Facilitation Center
C) Small Business Development Center
D) Small Business Training center

Question 17

What is a business's obligation to follow desirable courses of action in terms of society's values and objectives called?

A) Collectivism
B) Social responsibility
C) Business ethics
D) Ethnocentrism

Question 18

_____ gives the U.S. Congress the right to "regulate commerce with foreign nations, and among the several states."

A) Dual federalism
B) Interstate commerce clause
C) Layer cake federalism
D) Contracts clause

Question 19

The Uniform Commercial Code is a set of uniform model statutes to:

A) govern business and commercial transactions in all states.
B) address a wrongful injury.
C) negotiate new business contracts.
D) reorganize a bankrupt business.

Question 20

Which of the following refers to a wrongful act by one party that results in injury to a second party's person, property or reputation, for which the first party is liable?

A) Bankruptcy declaration
B) Benevolence
C) Altruism
D) Tort

Question 21

The Uniform Commercial Code is a set of uniform model statues to govern business and commercial transactions in all states.

Question 22

Under bankruptcy law, people can petition the courts to be relieved of the obligation to pay debts they cannot repay.

Question 23

There is now a greater effort in small firms to hire qualified persons without regard to race, sex, religion, color, creed, age, or disabilities. This illustrates enlightened _____.

A) employee relations
B) consumerism
C) personal ethics
D) individualism

Question 24

Which form of conservation involves reprocessing used items for future use?

A) Updating
B) Recycling
C) Afforesting
D) Reducing

Question 25

Ordinary bankruptcy occurs when a debtor files an application with a court claiming that debts exceed assets and asks to be declared bankrupt.

Question 26

The movement to protect the valid interests of consumers is a major force in small business today. What is this movement called?

A) Protectionism
B) Social responsibility
C) Business ethics
D) Consumerism

Question 27

A tort is a wrongful act by one party that results in injury to a second party's person, property or reputation for which the first party is liable.

Question 28

AMF Systems uses certain standards to judge the rightness or wrongness of its business's and its personnel's relations to others. These standards are called _____.

A) business ethics
B) personal ethics
C) employee relations
D) consumer relations

Question 29

The U.S. legal system is based on the principle that not everyone is equal under the law.

Question 30

_____ is also known as the "green" movement.

A) Consumerism
B) Deforestation
C) Conservation
D) Acculturation

Question 31

Environmental protection involves:

A) dealing ethically with employees, customers, and competitors.
B) participating in community and charitable activities.
C) trying to maintain a healthy balance between people and their surroundings.
D) dealing with sexual harassment in the office.

Question 32

All U.S. laws affecting businesses are based on the federal or a state constitution.

Question 33

_____ is defined as trying to prevent the contamination or destruction of the natural environment.

A) Conservation
B) Consumerism
C) Polarization
D) Pollution control

Question 34

The Uniform Commercial Code has been adopted only in part by the U.S. state of Louisiana.

Question 35

Which of the following is true about the Federal Sentencing Guidelines for Organizations?

A) It outlines programs for effective ethics.
B) It tells one what to do if the codes of ethics are silent.
C) It specializes in helping people develop their business ideas.
D) It provides the "Four Way Test" of the things we think, say, or do.

Question 36

Voluntary bankruptcy is a situation in which one or more creditors file a bankruptcy petition against the debtor.

Question 37

Which of the following may be a good test for ethical behavior?

A) Morris water maze test
B) Rotary International's "Four-Way Test"
C) Conditioned-place preference
D) Two-bottle choice test

Question 38

Bankruptcy is the inability to get funds to start a small business.

Question 39

Tort laws provide for the performance of duties and compensation for the injuries resulting from faulty products.

Question 40

One's _____ is one's own belief system that tells one what to do if or when the laws and/or any pertinent codes of values are silent.

A) reputation
B) association
C) business ethic
D) personal ethic

Question 41

The Census Bureau of the U.S. Department of Commerce furnishes demographic information for small business owners.

Question 42

In theory, a regulatory agency is more flexible and sensitive to the needs of society than the U.S. Congress can be.

Question 43

One's personal ethic is one's own belief system.

Question 44

The Service Corps of Retired Executives is sponsored by the Minority Business Development Agency.

Question 45

Small firms are now subject to federal regulation in the same way as their larger competitors.

Question 46

Small Business Development Centers provide counseling, training, and technical assistance in small business management.

Question 47

Chapter 11 of the Bankruptcy Reform Act of 1978 provides for reorganizing of a bankrupt business.

Question 48

Government regulations encourage small firms to hire more employees.

Question 49

When regulations are imposed on one industry or business, they often create opportunities for other small entrepreneurs.

Question 50

Unlike the U.S. Department of Commerce, the U.S. Department of Agriculture does not offer any assistance to small business owners.

Question 51

The Small Business Administration provides direct and guaranteed loans for small firms.

Question 52

Personal responsibility is defined as the obligation of a business to follow desirable courses of action in terms of society's values and objectives.

Question 53

Small Business Development Centers are wholly funded by the Small Business Administration.

Question 54

An advantage of government regulations for small businesses is that they require minimal paperwork.

Question 55

Enlightened employee relations involves a concern for employee rights.

Question 56

One of the first things one should do when forming a business is to retain a competent lawyer.

Question 57

Business ethics are the standards used to judge the rightness or wrongness of a business's relations to others.

Question 58

For small business owners, compliance with government regulations is simple and inexpensive.

Question 59

Consumerism is an organized effort to protect consumers from the undesirable effects of poorly designed products.

Question 60

Consumerism is reprocessing used items for future use.

Question 61

What are business ethics?

Question 62

What is the Uniform Commercial Code?

Question 63

What is the function of the Small Business Administration?

Question 64

Where can a small business owner look for a lawyer to deal with government regulations?

Question 65

What is meant by environmental protection and pollution control in the context of small businesses?

Question 66

What are the four major areas of concern that small firms have with government regulations?

Question 67

Describe the two types of bankruptcy.

Question 68

What is meant by enlightened employee relations?

Question 69

Describe community relations as a form of social responsibility practiced by small firms.

Question 70

What is consumerism?