Chapter 1—the Importance of Business Ethics Test Banks

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Chapter 1—The Importance of Business Ethics

MULTIPLE CHOICE

1.Principles are
a.| laws and regulations that guide behavior in the world of business.| b.| mores, values, and customs that guide behavior in general.| c.| specific and pervasive boundaries for behavior that are universal and absolute.| d.| the obligations businesses assume to maximize their positive impact and minimize their negative impact on stakeholders.| e.| the mores, values, and customs that parents teach their children.|

ANS:CPTS:1REF:p. 7

2.Social responsibility is
a.| an organization's obligation to maximize its positive effects and minimize its negative effects on stakeholders.| b.| principles and standards that guide behavior in the world of business.| c.| a business's responsibility not to pollute the environment.| d.| a business's responsibility to manufacture products that function properly.| e.| charitable contributions made by a business to enhance its image.|

ANS:APTS:1REF:p. 13

3.The _____ was/were enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the early 2000s. a.| Defense Industry Initiative on Business Ethics and Conduct| b.| Sarbanes-Oxley Act|

c.| Federal Sentencing Guidelines for Organizations|
d.| Foreign Corrupt Practices Act|
e.| Dodd-Frank Wall Street Reform and Consumer Protection Act|

ANS:BPTS:1REF:p. 14

4.The term business ethics is best described by the following statement: a.| It is the study and philosophy of human conduct, with an emphasis on determining right and wrong.| b.| It is an "inquiry into the nature and grounds of morality where the term morality is taken to mean moral judgments, standards and rules of conduct."| c.| It is the "study of the general nature of morals and of specific moral choices; moral philosophy; and the rules or standards governing the conduct of the members of a profession."| d.| It is an organization's obligation to maximize its positive effects and minimize its negative effects on stakeholders.| e.| It comprises the principles, values, and standards that guide behavior in the world of business.|

ANS:EPTS:1REF:p. 7

5.Which of the following is not one of the rights spelled out by John F. Kennedy in his "Consumers' Bill of Rights"? a.| The right to choose|
b.| The right to safety|
c.| The right to be informed|
d.| The right to be ethical|
e.| The right to be heard|

ANS:DPTS:1REF:p. 12

6.During the 1990s the institutionalization of business ethics was largely driven by which piece of legislation? a.| Sarbanes-Oxley Act|
b.| Federal Sentencing Guidelines for Organizations|
c.| Dodd-Frank Wall Street Reform and Consumer Protection Act| d.| Foreign Corrupt Practices Act|
e.| Global Sullivan Principles|

ANS:BPTS:1REF:p. 14

7.Business ethics, as a field, has passed through which of the following states? a.| A field of study to theological discussion to recognition of social issues| b.| Recognition of social issues to a field of study to theological discussion| c.| A field of study to recognition of social issues to theological discussion| d.| Recognition of social issues to theological discussion to a field of study| e.| Theological discussion to recognition of social issues to a field of study|

ANS:EPTS:1REF:p. 12-14

8.The 1960s saw a rise of consumerism. What is consumerism? a.| An increase in consumer rights by organizations and governments| b.| The growth of international retail chain stores|
c.| Activities undertaken by independent individuals, and groups to protect their rights as consumers| d.| The widespread adoption of consumer oriented marketing strategies among businesses| e.| Organizations’...
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