Question 1

There is little concern that a lack of academic integrity will have an influence on business integrity.

Accepted Answer

A) True 
 B)False

Question 2

A system based on a capitalistic market always leads to the equitable distribution of income.

Accepted Answer

A) True 
 B)False

Question 3

Lucia is a shareholder in ULO Corporation,but she doesn't know it! She had thought for years that her pension was just sitting in a bank vault somewhere waiting for her to retire.Lucia is a(n) _________ of ULO Corporation.

Accepted Answer

A)  direct owner 
B)  indirect owner 
C)  member of the board of directors 
D)  manager 
E)  active stakeholder

Question 4

The 'veil of ignorance' test is a variation of _________ theories.

Accepted Answer

A)  teleological 
B)  virtue 
C)  deontological 
D)  consequentialist 
E)  justice

Question 5

Government and business work collaboratively with multiple stakeholders to use resources to meet the needs of the members of a society.This arrangement is called the __________ system of a nation.

Accepted Answer

A)  economic 
B)  free enterprise 
C)  responsible enterprise 
D)  capitalist 
E)  political

Question 6

The business enterprise system has been described in a number of ways.How would you describe our economic system to a new Canadian?

Accepted Answer

The answer of The business enterprise system has been described...

Question 7

In recruiting professionals to come and work for the firm,JKL Corporation provides incentives to the employees attending interviews.For example,Mary is encouraged to bring her husband,Robert,to the job interview at the company's expense.This is an example of what form of corporate wrongdoing?

Accepted Answer

A)  Misleading financial statements 
B)  Kickbacks 
C)  Stock manipulation 
D)  Bid rigging 
E)  There is no wrongdoing

Question 8

The shareholders of DCV Corporation have agreed to coordinate their share purchases so that the stock looks more profitable just prior to the merger so that the public will see the company as a desirable investment.This is an example of __________.

Accepted Answer

A)  misleading financial statements 
B)  kickbacks 
C)  stock manipulation 
D)  bid rigging 
E)  stock-splitting

Question 9

The discussion of the business enterprise system in the Business and Society class today was stimulating.John argued that the Canadian government should apply a _________ model whereby economic decision making is left to those individuals or enterprises who own the means of production.

Accepted Answer

A)  capitalism 
B)  free enterprise 
C)  laissez-faire capitalism 
D)  responsible enterprise 
E)  stakeholder capitalism

Question 10

When resolving ethical issues,automatic decisions are reliable.

Accepted Answer

A) True 
 B)False

Question 11

Some critics of the business enterprise system claim that a system based on a capitalistic market leads to inequities.What is the response by supporters of the capitalist system?

Accepted Answer

The answer of Some critics of the business enterprise system...

Question 12

The concession doctrine implies that incorporation is a right,not a privilege for businesses.

Accepted Answer

A) True 
 B)False

Question 13

Identify the five primary tasks of the board of directors as outlined in the text.

Accepted Answer

The answer of Identify the five primary tasks of the...

Question 14

Contrast deontological and teleological theories.

Accepted Answer

The answer of Contrast deontological and teleological theories....

Question 15

Adam Smith argued for a system of capitalism that would see an enhanced role for government.

Accepted Answer

A) True 
 B)False

Question 16

Self-interest acts as a motivator in the business enterprise system and provides the drive for profit that encourages individuals to get things done.

Accepted Answer

A) True 
 B)False

Question 17

The integrity of future business entrepreneurs,managers,and employees is unrelated to how these individuals behave while in academic programs.

Accepted Answer

A) True 
 B)False

Question 18

Christmas season is approaching and Kasia's mom is delighted with the range of offerings on the shelves of the toy store.It seems like every single toy manufacturer had a different strategy for the season.This range of offerings is the result of __________.

Accepted Answer

A)  self-interest 
B)  allocation of resources 
C)  decentralized decision making 
D)  business cycle 
E)  innovation

Question 19

Why is the term 'ethics of business' preferred over the term 'business ethics'?

Accepted Answer

The answer of Why is the term 'ethics of business'...

Question 20

A Hewlett-Packard Co.survey of Canadians found that 90 percent believed the more socially and environmentally responsible a corporation is,the more likely they are to purchase its goods and services.

Accepted Answer

A) True 
 B)False

Exam 1: The Relationship Between Business and Society

There is little concern that a lack of academic integrity will have an influence on business integrity.

A system based on a capitalistic market always leads to the equitable distribution of income.

Lucia is a shareholder in ULO Corporation,but she doesn't know it! She had thought for years that her pension was just sitting in a bank vault somewhere waiting for her to retire.Lucia is a(n) _________ of ULO Corporation.

The 'veil of ignorance' test is a variation of _________ theories.

Government and business work collaboratively with multiple stakeholders to use resources to meet the needs of the members of a society.This arrangement is called the __________ system of a nation.

The business enterprise system has been described in a number of ways.How would you describe our economic system to a new Canadian?

In recruiting professionals to come and work for the firm,JKL Corporation provides incentives to the employees attending interviews.For example,Mary is encouraged to bring her husband,Robert,to the job interview at the company's expense.This is an example of what form of corporate wrongdoing?

The shareholders of DCV Corporation have agreed to coordinate their share purchases so that the stock looks more profitable just prior to the merger so that the public will see the company as a desirable investment.This is an example of __________.

The discussion of the business enterprise system in the Business and Society class today was stimulating.John argued that the Canadian government should apply a _________ model whereby economic decision making is left to those individuals or enterprises who own the means of production.

When resolving ethical issues,automatic decisions are reliable.

Some critics of the business enterprise system claim that a system based on a capitalistic market leads to inequities.What is the response by supporters of the capitalist system?

The concession doctrine implies that incorporation is a right,not a privilege for businesses.

Identify the five primary tasks of the board of directors as outlined in the text.

Contrast deontological and teleological theories.

Adam Smith argued for a system of capitalism that would see an enhanced role for government.

Self-interest acts as a motivator in the business enterprise system and provides the drive for profit that encourages individuals to get things done.

The integrity of future business entrepreneurs,managers,and employees is unrelated to how these individuals behave while in academic programs.

Christmas season is approaching and Kasia's mom is delighted with the range of offerings on the shelves of the toy store.It seems like every single toy manufacturer had a different strategy for the season.This range of offerings is the result of __________.

Why is the term 'ethics of business' preferred over the term 'business ethics'?

A Hewlett-Packard Co.survey of Canadians found that 90 percent believed the more socially and environmentally responsible a corporation is,the more likely they are to purchase its goods and services.