Question 1

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

Accepted Answer

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

Question 2

The duties we owe others imply that humans have fundamental rights. This ________ is foundational to Western culture and asserts that whether a business decision is ethical depends on how the decision effects the rights of all involved.

Accepted Answer

A)   Cost-benefit analysis
B)   Rule of reason
C)   Situational realism
D)   Ethical relativism
E)   Principle of rightsF) All of the above
G) None of the above

Question 3

What is the system of "guanxi" used in China?

Accepted Answer

A)   It refers to a system of relationship building woven together by social ties.
B)   It refers to a system of strict ethical rules.
C)   It refers to a prohibition against criticism of government rules and regulations.
D)   It refers to a system by which business people attempt to avoid strict Chinese regulations.
E)   It refers to a system of smuggling.F) C) and D)
G) A) and B)

Question 4

Adherents of ________ believe that when one individual-the caregiver-meets the needs of one other person-the cared-for party-the caregiver is helping to meet the needs of all the individuals who fall within the cared-for party's web of care.

Accepted Answer

A)   Deontology
B)   Utilitarianism
C)   Absolutism
D)   Virtue ethics
E)   Ethics of careF) A) and B)
G) B) and E)

Question 5

The community in which a firm operates would not be considered a stakeholder of the firm.

Accepted Answer

A) True 
 B)False

Question 6

In the past 20 years there have been major accounting scandals that have impacted many companies resulting in the illustration that the business world cannot be allowed to regulate itself ethically and produced the Sarbanes-Oxley Act. Who were two of the major violators?

Accepted Answer

A)   Ford Motor Company and WorldCom
B)   WorldCom and Enron
C)   Shell Corporation and Amazon
D)   Enron and the SEC
E)   Chrysler Corporation and WorldComF) A) and B)
G) B) and E)

Question 7

An employer who cheats on his payroll and federal withholding tax because he believes that everyone has a right to cheat on their payroll tax would believe in a(n)  ________.

Accepted Answer

A)   Utilitarianism
B)   Ethical relativism
C)   Categorical imperative
D)   Fundamentalist approach
E)   DeontologyF) B) and D)
G) C) and D)

Question 8

Which of the following is true regarding business ethics?

Accepted Answer

A)   Business ethics refers to standards of business conduct but does not result in a set of correct decisions.
B)   Business ethics results in a set of correct decisions and does not simply refer to standards of business conduct.
C)   Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of deontology is followed.
D)   Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of rule utilitarianism is followed.
E)   Business ethics produces a list of correct business decisions that all ethical businesses will make so long as the theory of virtue ethics is followed.F) B) and C)
G) B) and E)

Question 9

[Fast Food Dilemma] Aiden, who just started at his new job as an assistant manager at a fast-food restaurant, wants to make a good impression. He thinks that things are going well. On only the second day on the job, however, he sees his manager, Debbie, slink out of the restaurant with a big box of hamburgers. She puts them in her car and speeds away. Aiden is fairly certain that Debbie did not pay for the hamburgers. Aiden asks advice of his best friend, Kyle; his girlfriend, Mia; his sister, Katie; and his dad, Joe. Kyle says that there are no real objective standards and that Aiden should just decide to do what is best for himself. Mia says that Aiden should think about the consequences and focus on the greatest benefit to all involved. She believes that it will do no real harm for Aiden to keep his mouth shut because the fast-food restaurant is making plenty of money and probably does not pay Debbie enough anyway. Plus, getting in trouble with Debbie could cause problems at work, and if Aiden loses his job, Aiden and Mia might have to put off their impending marriage. Katie says that on balance, following the rule of producing the greatest good would mean that he should report Debbie to her boss because stealing does not generally produce the greatest satisfaction. Aiden's dad says that as a matter of principle, Aiden should report Debbie to her boss because stealing is simply wrong.
-Which theory most accurately fits the advice given by Kyle?

Accepted Answer

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

Question 10

A company pays bribes in foreign countries in order to conduct operations there. What legal consequences can the company face?

Accepted Answer

A)   No legal consequences as long as the bribe was legal in the country where it was paid.
B)   No legal consequences as long as the company was acting in the best interests of shareholders.
C)   No legal consequences as long as the company had no choice but to pay the bribe if it wished to do business in the foreign country.
D)   Legal consequences under the Foreign Corrupt Practices Act.
E)   Legal consequences under Glass-Steagall.F) A) and C)
G) C) and D)

Question 11

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 m...

Question 12

Which of the following is true under the WH process of ethical decision making?

Accepted Answer

A)   The interest of consumers should always be put before employees and management.
B)   The interest of owners and partners rank the highest because they put the capital into the business.
C)   Community is always the last stakeholder to be evaluated in any ethical decision.
D)   Though owners always have the highest level interest in any ethical business decision, managers and employees should be valued equally, then shareholders and the community.
E)   One stakeholder should not be valued above another under the WH framework for business ethics.F) A) and D)
G) A) and E)

Question 13

A manager may think it is wrong to terminate a person whose spouse has a terminal illness because a company has an absolute obligation to support its employees when they are vulnerable. With which ethical theory is the business manager acting consistently?

Accepted Answer

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

Question 14

Under the ________ test people are asked to consider what the world would be like were our decision copied by everyone else.

Accepted Answer

A)   Propositions values
B)   Profit motive
C)   Globalization
D)   Golden Rule
E)   UniversalizationF) C) and E)
G) A) and C)

Question 15

A large company is about to lay off several people due to a struggling economy. The company must make some difficult decisions about laying off older workers who cost the company more money, or laying off the younger workers who cost the company less money but have the technical skills the company will ultimately need. The company is faced with a(n) :

Accepted Answer

A)   Ethical misfortune
B)   Social responsibility
C)   Ethical dilemma
D)   Legal responsibility
E)   Unfortunate dilemmaF) C) and E)
G) None of the above

Question 16

________ is one type of consequentialism.

Accepted Answer

A)   Deontology
B)   Categorical imperatives
C)   Utilitarianism
D)   Relativism
E)   ActivismF) A) and B)
G) A) and C)

Question 17

One form of consequentialism is utilitarianism.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is true about how ethical conceptions shape business law and business relationships in different countries?

Accepted Answer

A)   Ethics does not shape business law or business relationships because law and ethics are separate and not interrelated.
B)   Business law and business relationships should be the same in all countries because ethics provides one correct answer to all questions.
C)   Business law should be the same in all countries because protecting the rights of shareholders is always the ethically proper course of action.
D)   Different ethical understandings exist in different countries, but fairness is the highest ethical standard so countries must create uniform laws.
E)   Different ethical understandings prevail in different countries, so ethical conceptions shape business law and business relationships uniquely in each country.F) B) and E)
G) All of the above

Question 19

The advice given by Joe most accurately fits which theory?

Accepted Answer

A)   Deontology
B)   Act utilitarianism
C)   Rule utilitarianism
D)   Ethical relativism
E)   Virtue ethicsF) C) and D)
G) All of the above

Question 20

Kantian ethics is associated with which of the following ethical theories?

Accepted Answer

A)   Deontology
B)   Act utilitarianism
C)   Rule utilitarianism
D)   Absolutism
E)   Situational ethicsF) D) and E)
G) C) and E)

Exam 2: Business Ethics

A manager may think it is wrong to terminate a person whose spouse has a terminal illness because a company has an absolute obligation to support its employees when they are vulnerable. With which ethical theory is the business manager acting consistently?

Correct Answer
verified

The advice given by Joe most accurately fits which theory?

Correct Answer
verified

The community in which a firm operates would not be considered a stakeholder of the firm.

Correct Answer
verified

Which of the following is true regarding business ethics?

Correct Answer
verified

An employer who cheats on his payroll and federal withholding tax because he believes that everyone has a right to cheat on their payroll tax would believe in a(n) ________.

Correct Answer
verified

Correct Answer
verified

In the past 20 years there have been major accounting scandals that have impacted many companies resulting in the illustration that the business world cannot be allowed to regulate itself ethically and produced the Sarbanes-Oxley Act. Who were two of the major violators?

Correct Answer
verified

Under the ________ test people are asked to consider what the world would be like were our decision copied by everyone else.

Correct Answer
verified

One form of consequentialism is utilitarianism.

Correct Answer
verified

Which of the following is true about how ethical conceptions shape business law and business relationships in different countries?

Correct Answer
verified

A company pays bribes in foreign countries in order to conduct operations there. What legal consequences can the company face?

Correct Answer
verified

Which of the following is true under the WH process of ethical decision making?

Correct Answer
verified

Kantian ethics is associated with which of the following ethical theories?

Correct Answer
verified

What is the system of "guanxi" used in China?

Correct Answer
verified

The duties we owe others imply that humans have fundamental rights. This ________ is foundational to Western culture and asserts that whether a business decision is ethical depends on how the decision effects the rights of all involved.

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

________ is one type of consequentialism.

Correct Answer
verified

Adherents of ________ believe that when one individual-the caregiver-meets the needs of one other person-the cared-for party-the caregiver is helping to meet the needs of all the individuals who fall within the cared-for party's web of care.

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 m...
View Answer

Exam 2: Business Ethics

A manager may think it is wrong to terminate a person whose spouse has a terminal illness because a company has an absolute obligation to support its employees when they are vulnerable. With which ethical theory is the business manager acting consistently?

Correct AnswerverifiedShow Answer

The advice given by Joe most accurately fits which theory?

Correct AnswerverifiedShow Answer

The community in which a firm operates would not be considered a stakeholder of the firm.

Correct AnswerverifiedShow Answer

Which of the following is true regarding business ethics?

Correct AnswerverifiedShow Answer

An employer who cheats on his payroll and federal withholding tax because he believes that everyone has a right to cheat on their payroll tax would believe in a(n) ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In the past 20 years there have been major accounting scandals that have impacted many companies resulting in the illustration that the business world cannot be allowed to regulate itself ethically and produced the Sarbanes-Oxley Act. Who were two of the major violators?

Correct AnswerverifiedShow Answer

Under the ________ test people are asked to consider what the world would be like were our decision copied by everyone else.

Correct AnswerverifiedShow Answer

One form of consequentialism is utilitarianism.

Correct AnswerverifiedShow Answer

Which of the following is true about how ethical conceptions shape business law and business relationships in different countries?

Correct AnswerverifiedShow Answer

A company pays bribes in foreign countries in order to conduct operations there. What legal consequences can the company face?

Correct AnswerverifiedShow Answer

Which of the following is true under the WH process of ethical decision making?

Correct AnswerverifiedShow Answer

Kantian ethics is associated with which of the following ethical theories?

Correct AnswerverifiedShow Answer

What is the system of "guanxi" used in China?

Correct AnswerverifiedShow Answer

The duties we owe others imply that humans have fundamental rights. This ________ is foundational to Western culture and asserts that whether a business decision is ethical depends on how the decision effects the rights of all involved.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

________ is one type of consequentialism.

Correct AnswerverifiedShow Answer

Adherents of ________ believe that when one individual-the caregiver-meets the needs of one other person-the cared-for party-the caregiver is helping to meet the needs of all the individuals who fall within the cared-for party's web of care.

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 Answerverified(a). Ethical relativism - Asserts that m...View AnswerShow Answer

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(a). Ethical relativism - Asserts that m...
View Answer