Chapter 5 Study Guide Quiz

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Question #1

The study of business ethics is concerned with the purposes of a business and how that business achieves those purposes.

A False

B True

Question #2

The concept of corporate social responsibility is imposed on corporations by law.

A False

B True

Question #3

Some provisions of U.S. bribery laws are directed toward accountants.

A False

B True

Question #4

Managers must apply the same standards to themselves as they do to the company’s employees

A False

B True

Question #5

Given today’s global communications network, most companies can assume that their actions in other nations will go unnoticed.

A False

B True

Question #6

Ethics is as well defined as the law.

A False

B True

Question #7

Corporations can demonstrate corporate social responsibility by promoting goals that society deems worthwhile.

A True

B False

Question #8

Compared to business ethics, employee ethics is not an important issue.

A True

B False

Question #9

Company codes are not law.

A True

B False

Question #10

Companies are required to set up confidential systems so that employees and others can “raise red flags” about suspected illegal or unethical auditing and accounting practices.

A False

B True

Question #11

An action may be legal but not ethical.

A False

B True

Question #12

Acting in good faith gives a business firm a better chance of defending its actions in court.

A True

B False

Question #13

Situations in which employers face ethical issues with respect to social media platforms include

A rejecting a job candidate if he or she does not participate in any social media.

B conducting an Internet search to discover what a job candidate has posted.

C judging a job candidate based on what he or she does outside the work environment.

D all of the choices.

Question #14

Ross, a research manager for Stock & Bond Investments, Inc., adheres to utilitarian ethics. Ross will determine that an action is morally correct when it produces the greatest good for

A the fewest people.

B Stock & Bond Investments.

C Ross.

D the most people.

Question #15

Ricardo suspects his supervisor Simone of unethical accounting practices. But Ricardo does not want to report Simone if she will find out who reported her and fire Ricardo. An important feature of online reporting systems like EthicsPoint is that an employee reporting unethical behavior

A is financially compensated if he or she is fired as a result of a report.

B must fully identify themselves when making a report.

C can do so anonymously.

D must have additional employee support to make a report.

Question #16

Petro Refining Corporation makes payments to potential customers, suppliers, and others with whom they might do business, including foreign private companies and the representatives of foreign labor organizations. If Petro knows that these payments will be passed on to a foreign government, this practice is

A legal if the payments are intended to facilitate business.

B illegal if the payments violate the Foreign Corrupt Practices Act.

C legal if private parties are involved on both sides of the deal.

D legal if a third party acts as a “go-between.”

Question #17

Palette Paints, Inc. expends funds and takes steps to ensure that all employees are safe on the job, that all products are safe for consumers, and that the environmental impact of the corporation is minimal. Palette Paints appears to believe in the concept of

A “grey areas” in the law.

B the moral minimum.

C government oversight.

D corporate social responsibility.

Question #18

In making business decisions, Ridgeline Utility Service Company and other corporations should strive to be “good citizens” by evaluating

A the safety risks for consumers and employees.

B the public relations impact.

C the legal implications of each decision.

D all of the choices.

Question #19

Green Hybrid Auto Corporation pays its executives an excessive amount relative to what lower-level employees at the company receive and to what executives at competitive companies are paid. Green Hybrid’s pay scale is most likely to be challenged as

A unethical.

B unprofitable.

C unconscionable.

D illegal.

Question #20

Dyan, the owner of Expert Restoration Services, Inc., adheres to the “principle of rights” theory. Under this theory, a key factor in determining whether a business decision is ethical is how that decision

A compares to religious principles.

B affects the rights of others.

C supports the right to make a profit.

D effects consequences that would follow if everyone in society acted the same way.

Question #21

Discount Mart Corporation contracts with companies in developing nations to produce goods, because the wage rates in those nations are significantly lower than those in the United States. Discount Mart takes steps to avoid bad publicity by monitoring its suppliers’ workplaces to make sure that the employees are not mistreated. Discount Mart is

A acting unethically in its pursuit of good publicity.

B acting unethically in its pursuit of profits.

C acting unethically by monitoring its suppliers.

D not acting unethically.

Question #22

Comfort Foods Corporation makes and markets its products nationwide. To be considered socially responsible when making a business decision, Comfort Foods must take into account the needs of

A its employees, owners, customers, creditors, suppliers, and the community.

B its customers and the community only.

C no one.

D its employees and owners only.

Question #23

Brewster, the chief executive officer of Cog & Gear Lubricants Corporation, wants to en¬sure that Cog & Gear’s activities are legal and ethical. The best course for Brewster and Cog & Gear is to act

A with regard for the firm’s shareholders only.

B out of ignorance of the law.

C in their own self-interest.

D in good faith.

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Chapter 5 Study Guide Quiz

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