Question 1

Which of the following are stakeholders of a business?

Accepted Answer

A)  Employees but not shareholders
B)  Management but not employees
C)  Shareholders,employees,customers,and management
D)  Shareholders but not employees
E)  Customers but not employees or shareholdersF) D) and E)
G) A) and B)

Question 2

Which of these is or are in the WPH process of ethical decision-making?

Accepted Answer

A)  Freedom,security,and efficiency
B)  Security only
C)  Freedom only
D)  Efficiency only
E)  Freedom and security,but not efficiencyF) B) and D)
G) All of the above

Question 3

Which of the following is an example of how ethics shapes business laws?

Accepted Answer

A)  Business law requires companies to put profits above all else,because protecting the rights of shareholders is the ethically proper course of action.
B)  Bribery is legal for U.S.companies doing business in foreign countries because respecting foreign cultures is part of our community ethics.
C)  Contract laws require parties to obey even unenforceable agreements because of our ethical belief that every promise must be kept at all times.
D)  Contract laws require parties to live up to promises because keeping promises is part of our ethical inclination to encourage trust.
E)  Bribery is legal for U.S.companies doing business in foreign countries because foreign businesses can pay bribes and our ethical inclination is to level the playing field for American businesses.F) A) and E)
G) D) and E)

Question 4

[Accounting Advice] Chris,a newly hired Certified Public Accountant,was asked by a business client,a chief executive officer,about the effect of the Sarbanes-Oxley Act on an accounting issue.Chris assured the client that the client should not be concerned about the Act because it is very vague,unspecific,and difficult to understand.Chris also told the CEO that the CEO could not be held personally responsible,regardless of what happened,because only company business was involved.Finally,Chris told the CEO that there is no oversight involved with the act.Later that same day,Chris's coworker discovered that the CEO had been involved in misstating some financial reports and had also destroyed financial documents to cover up fraud.An employee at the company,Olivia,had informed the coworker as well as the SEC.When the issue was mentioned to the CEO,he immediately fired Olivia.
-Which statement is true regarding Chris's statement that the CEO could not be held liable for violations of the act?

Accepted Answer

A)  Chris is incorrect,but any fine against a CEO under the act cannot exceed a nominal amount of $1,000.
B)  Chris is incorrect.The act provides for harsh penalties,and a CEO who knows that the company's financial reports are incorrect,but who claims that they are truthful,can be heavily fined.Additionally,a CEO who destroys or changes financial documents to mislead can be heavily fined.
C)  Chris is correct.Under no circumstances can a CEO be held personally responsible for violations under the act.Any fines would be imposed upon the business entity.
D)  Chris is incorrect.The act provides for harsh penalties,and a CEO who destroys or changes financial documents to mislead can be heavily fined.There are no penalties,however,for misstatements of a company's financial reports because the company is solely responsible for its statements.
E)  Chris is incorrect.The act provides for harsh penalties,and a CEO who knows that the company's financial reports are incorrect but claims that they are truthful,can be heavily fined.There are no penalties,however,for destruction of financial documents.F) A) and B)
G) A) and C)

Question 5

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)  Uncertainty of thought
B)  Deontology
C)  Ethical relativism
D)  Categorical imperative
E)  AbsolutismF) C) and E)
G) A) and D)

Question 6

Insurer American International Group AIG)is well known in the insurance industry for its ethical business practices.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is not a theory of business ethics.

Accepted Answer

A)  Profit motive
B)  Deontology
C)  Ethical relativism
D)  Absolutism
E)  ConsequentialismF) A) and B)
G) A) and C)

Question 8

The argument that traditional moral hierarchies ignore relationships is a part of which theory of business ethics?

Accepted Answer

A)  Consequentialism
B)  Absolutism
C)  Profit motive
D)  Ethics of care
E)  DeontologyF) B) and E)
G) B) and D)

Question 9

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 that other companies might do the same and its workers would end up breathing in or drinking pollutants.In considering the possible complicity,the company's decision was shaped by the:

Accepted Answer

A)  WPH Method
B)  Golden rule
C)  Public disclosure test
D)  Universalization test
E)  Profit MotiveF) A) and E)
G) A) and D)

Question 10

Which is a true statement regarding actions taken by news corporations to protect confidential records?

Accepted Answer

A)  News corporations are not bothering with security barriers to the extent as in previous decades because government regulation requires that information be turned over,and there is no point in taking drastic measures to protect such information.
B)  Because of the respect given to confidential records by the U.S.government and its enforcement agencies,news corporations see little need to enhance protection of confidential records.
C)  News corporations are attempting to protect information written by their own employees,but efforts are not made to protect confidential sources because constitutional protection does not extend to confidential sources.
D)  New regulations make significant privacy barriers illegal in regard to news corporations,so many barriers have been or are being removed.
E)  News corporations are putting numerous security barriers and encryptions around their records so that nobody can gain access to them.F) B) and E)
G) A) and E)

Question 11

The ultimate reason or purpose for why we make decisions in a business firm is based on:

Accepted Answer

A)  Values
B)  Golden Rule
C)  Profit Motive
D)  Universalization
E)  Legal ethicsF) A) and E)
G) C) and D)

Question 12

How do law and business ethics relate to each other?

Accepted Answer

A)  Ethics is unrelated to the law because ethics answers only moral questions.
B)  The law establishes ethical rules and boundaries,because laws take multiple stakeholders into consideration.
C)  Ethics entirely determines what the laws will be,as ethics is focused on finding one right answer to every question.
D)  Law and business ethics serve as an interactive system,informing and assessing each other.
E)  The law establishes what is ethical,as anything which is legal is automatically ethical.F) C) and E)
G) B) and E)

Question 13

A difficulty with the application of virtue ethics is ________.

Accepted Answer

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

Question 14

Summarize the following ethical principles:
a).Ethical relativism b).Situational ethics c).Consequentialism d).Deontology
e).Virtue ethics f).Ethics of care

Accepted Answer

a).Ethical relativism - Asserts that mor...

Question 15

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)  Utilitarianism
B)  Deontology
C)  Ethical relativism
D)  Absolutism
E)  Kantian ethicsF) A) and D)
G) B) and C)

Question 16

The idea that we should interact with other people in a manner consistent with the manner in which we would like them to interact with us is called the ________.

Accepted Answer

A)  Ethical Realization Rule
B)  Equalization Rule
C)  Ten Commandments Rule
D)  Golden Rule
E)  Silver RuleF) A) and B)
G) A) and C)

Question 17

The advice given by Joe most accurately fits which theory?

Accepted Answer

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

Question 18

An electrician working in a small town is the only electrician within a 100-mile radius.He knows that people who have medical equipment at home have the highest need for power,so he charges them double to fix problems with their electricity,compared with the average customer.The community is angry about this choice.This business practice is most likely:

Accepted Answer

A)  Ethical because it is not illegal for a company to set its prices based on maximizing profits.
B)  Ethical because owners should focus only on the impact of decisions on the firm.
C)  Unethical because businesses operate in a community and communities have expectations for behavior of individuals,groups,and businesses.
D)  Unethical because it is against the law for a company to charge one customer more than another.
E)  Unethical because there is only one morally proper thing to do in any situation.F) A) and B)
G) B) and D)

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A)  Values,public disclosure,and security
B)  Public disclosure,universalization,security,and the Golden Rule
C)  Profit maximization,security,and public disclosure
D)  Public disclosure,universalization,and the Golden Rule
E)  Whistle-blowing,the Golden Rule,values,and public disclosureF) B) and D)
G) A) and B)

Exam 2: Business Ethics

Which of the following are stakeholders of a business?

Correct Answer
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A difficulty with the application of virtue ethics is ________.

Correct Answer
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The ultimate reason or purpose for why we make decisions in a business firm is based on:

Correct Answer
verified

Which of the following is an example of how ethics shapes business laws?

Correct Answer
verified

The argument that traditional moral hierarchies ignore relationships is a part of which theory of business ethics?

Correct Answer
verified

The advice given by Joe most accurately fits which theory?

Correct Answer
verified

Summarize the following ethical principles: a).Ethical relativism b).Situational ethics c).Consequentialism d).Deontology e).Virtue ethics f).Ethics of care

Correct Answer
verified
a).Ethical relativism - Asserts that mor...
View Answer

Which of the following is not a theory of business ethics.

Correct Answer
verified

Which is a true statement regarding actions taken by news corporations to protect confidential records?

Correct Answer
verified

Correct Answer
verified

How do law and business ethics relate to each other?

Correct Answer
verified

Which of these is or are in the WPH process of ethical decision-making?

Correct Answer
verified

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

Correct Answer
verified

The idea that we should interact with other people in a manner consistent with the manner in which we would like them to interact with us is called the ________.

Correct Answer
verified

Correct Answer
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Correct Answer
verified

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 ________.

Correct Answer
verified

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

Correct Answer
verified

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?

Correct Answer
verified

Insurer American International Group AIG)is well known in the insurance industry for its ethical business practices.

Correct Answer
verified

Exam 2: Business Ethics

Which of the following are stakeholders of a business?

Correct AnswerverifiedShow Answer

A difficulty with the application of virtue ethics is ________.

Correct AnswerverifiedShow Answer

The ultimate reason or purpose for why we make decisions in a business firm is based on:

Correct AnswerverifiedShow Answer

Which of the following is an example of how ethics shapes business laws?

Correct AnswerverifiedShow Answer

The argument that traditional moral hierarchies ignore relationships is a part of which theory of business ethics?

Correct AnswerverifiedShow Answer

The advice given by Joe most accurately fits which theory?

Correct AnswerverifiedShow Answer

Summarize the following ethical principles: a).Ethical relativism b).Situational ethics c).Consequentialism d).Deontology e).Virtue ethics f).Ethics of care

Correct Answerverifieda).Ethical relativism - Asserts that mor...View AnswerShow Answer

Which of the following is not a theory of business ethics.

Correct AnswerverifiedShow Answer

Which is a true statement regarding actions taken by news corporations to protect confidential records?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

How do law and business ethics relate to each other?

Correct AnswerverifiedShow Answer

Which of these is or are in the WPH process of ethical decision-making?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The idea that we should interact with other people in a manner consistent with the manner in which we would like them to interact with us is called the ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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 ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Insurer American International Group AIG)is well known in the insurance industry for its ethical business practices.

Correct AnswerverifiedShow Answer

Correct Answer
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a).Ethical relativism - Asserts that mor...
View Answer

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