Question 1

Ethics refer to
A)The set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group
B)the embodiment of what an organization stands for, and should be the basis for the behavior of its members
C)society's perception of what is right or wrong
D)All of the above
E)None of the Above

Accepted Answer

Ethics refers to society's perception of what is right or wrong, guiding moral principles and values.

Question 2

This refers to the degree to which individuals have to be provided with some compensation to influence the individual.
A)Fraud
B)Asset misappropriation
C)Bribery
D)All of the above
E)None of the above

Accepted Answer

E

Question 3

This represents a strategic approach to managing ethics in an organization
A)Strategic Business Ethics Insight
B)Corporate social responsibility
C)Social responsibility
D)Code of conducts
E)All of the above

Accepted Answer

A strategic approach to managing ethics in an organization involves incorporating ethics into the overall business strategy and decision-making process. It includes identifying potential ethical issues, creating a code of conduct or ethics policy, providing ethics training and education to employees, and establishing a system for reporting and addressing ethical concerns. Corporate social responsibility and social responsibility are related but broader concepts that encompass ethical considerations as well as a company's impact on society and the environment. A code of conduct is an important tool for communicating the organization's values and ethical expectations, but it is just one part of a comprehensive approach to managing ethics. Therefore, the best choice for this question is A - Strategic Business Ethics Insight.

Question 4

Activities such as skimming (cash is stolen from the company before the cash is recorded), billing (submission of fictitious invoices to the company) are examples of
A)Occupational Fraud
B)Misappropriation of assets
C)Burglary
D)All of the above
E)None of the Above

Accepted Answer

The answer of Activities such as skimming (cash is stolen...

Question 5

According to Boatright's (2002) stockholder theory
A)Shareholders do not have the right, but can control and earn residual earnings (or profits).
B)There are revenues associated with any owners whether they are employees, customers or shareholders.
C)One of the most pertinent costs related to the role of shareholders is the cost of decision making.
D)Companies need to go beyond satisfying the needs of shareholders only
E)All of the above

Accepted Answer

The answer of According to Boatright's (2002) stockholder theory
A)Shareholders do...

Question 6

Edward Freeman (2010) presents the stakeholder theory of the modern corporation basically arguing that
A)Shareholders do not have the right, but can control and earn residual earnings (or profits).
B)There are revenues associated with any owners whether they are employees, customers or shareholders.
C)One of the most pertinent costs related to the role of shareholders is the cost of decision making.
D)Companies need to go beyond satisfying the needs of shareholders only
E)None of the Above

Accepted Answer

Freeman's stakeholder theory proposes that a corporation should not prioritize the needs of shareholders only but should also consider the interests of other stakeholders such as employees, customers, suppliers, and the broader society. Therefore, choice D is the best answer. Choice A is incorrect because shareholders do have rights, such as voting rights and the right to receive dividends. Choice B is incorrect because revenues are associated with the company's activities, not necessarily with its stakeholders. Choice C is incorrect because shareholders do not necessarily bear the cost of decision making.

Question 7

Job conditions that are considered normal in a manufacturing country but is in conflict with labor standards in the United States is an example of:
A)Cultural clash
B)Outsourcing conflict
C)Ethical dilemma
D)All of the above
E)some other answer

Accepted Answer

This situation presents an ethical dilemma because it raises questions about the moral responsibility of companies to ensure fair and safe working conditions for employees, regardless of where their operations are located. It is not necessarily a cultural clash or outsourcing conflict, although those factors may contribute to the dilemma.

Question 8

Tyson has committed its brand to efforts to relieve and ultimately end childhood hunger, and in the past few years been integrating social media into its hunger relief efforts. This an example of
A)Social engineering
B)Corporate social responsibility
C)Social responsibility
D)Global awareness
E)All of the above

Accepted Answer

Tyson's commitment to relieving and ending childhood hunger is an example of corporate social responsibility, which refers to a company's efforts to have a positive impact on society beyond just their primary business goal of making a profit. The integration of social media into their efforts is just one way they are using their resources and influence to benefit society.

Question 9

Greenopolis was developed by Waste Management Recycle America to serve as an educational tool to teach people how to be more environmentally sound as they go about their daily lives. This is an example of:
A)Social engineering
B)Corporate social responsibility
C)Social responsibility
D)Global awareness
E)All of the above

Accepted Answer

Greenopolis was developed by Waste Management Recycle America as part of their corporate social responsibility to educate people on how to be more environmentally friendly.

Question 10

Honeybees are disappearing at an alarming rate and that's bad news for the global food chain. Haagen-Dazs decided to create a microsite to raise awareness about the issue. This is an example of :
A)Social engineering
B)Corporate social responsibility
C)Social responsibility
D)Corporate environmental awareness
E)None of the Above

Accepted Answer

Haagen-Dazs creating a microsite to raise awareness about the disappearing honeybees shows their corporate social responsibility. They are taking action to address an issue that not only impacts their business, but also has a larger negative impact on the global food chain. By raising awareness and working to protect honeybees, they are demonstrating a commitment to social responsibility.

Question 11

X Company is experiencing an increase in sales revenue of $150,000 resulting from consumer approval of its new ethical program. What type of positive benefit does this illustrate?
A)Firm financial performance
B)Perceived future financial performance.
C)Firm market value
D)Stock market value
E)None of the Above

Accepted Answer

The increase in sales revenue directly impacts the firm's financial performance, illustrating a positive benefit in this area.

Question 12

The followings are benefits of good ethics of a company for employees, EXCEPT:
A)Employees may stay longer, reducing the costs and disruption of recruitment and retraining.
B)Employees are better motivated and more productive.
C)A good reputation makes it easier to recruit employees
D)All of the above
E)None of the above

Accepted Answer

The answer of The followings are benefits of good ethics...

Question 13

Which of the following regarding fraud is not true?
A)Occupational fraud is costly for the average company
B)Occupation fraud tends to go undetected for long time
C)People committing occupational fraud were often first time offenders
D)Most cases were committed by members of top management
E)Larger companies are especially susceptible to fraud

Accepted Answer

The answer of Which of the following regarding fraud is...

Question 14

The view that shareholders have a right to control and earn profits represents which business ethics approach
A)Corporate social responsibility
B)Occupational fraud
C)Stakeholder theory
D)Stockholder theory
E)None of the Above

Accepted Answer

Stockholder theory is the view that shareholders have a right to control and earn profits. This approach emphasizes that the primary responsibility of a business is to maximize profits for shareholders, and that decisions should be made in their best interest. It is based on the idea that shareholders have invested their money and have the right to expect a return on that investment.

Question 15

What is the purpose of the Ethics and Compliance Initiative (ECI)?
A)Provide an indication of the degree of corruption in the public sector
B)Brings together business ethics practitioners as well as business ethics scholars to promote business ethics
C)Determine what is legally ethical and enforce it in law
D)All of the above
E)None of the above

Accepted Answer

The purpose of the Ethics and Compliance Initiative (ECI) is to bring together business ethics practitioners as well as business ethics scholars to promote business ethics. Option A is incorrect, as the ECI does not specifically focus on corruption in the public sector. Option C is also incorrect, as the ECI is not a legal enforcement agency. Option D is incorrect, as only option B is true. Option E is incorrect, as the ECI does have a purpose.

Question 16

Which of the following regarding occupational fraud is NOT true?
A)Most cases were committed by members of the accounting department
B)Occupational fraud occurs in a wide range of industries
C)Most cases were discovered during the course of an audit
D)All of the Above
E)None of the Above

Accepted Answer

Most cases of occupational fraud are not discovered during audits; they are often detected through tips, internal controls, or other means.

Question 17

Which of the following can benefit from good company ethics:
A)Employees
B)Customers
C)Suppliers
D)Investors
E)All of the above

Accepted Answer

All of the above can benefit from good company ethics. Employees will have a positive work environment, customers will trust the company and be more likely to return, suppliers will have a reliable business partner, and investors will have confidence in the company's long-term success.

Question 18

Benefits of responsible purchasing include all of the following EXCEPT:
A)Additional sales opportunities
B)Access to minority market knowledge
C)Reduce independence on tradional suppliers
D)Enhanced reputation for a company with larger pool of stakeholders
E)Fewer number of suppliers

Accepted Answer

The benefits of responsible purchasing include additional sales opportunities, access to minority market knowledge, reduced dependence on traditional suppliers, and enhanced reputation for a company with a larger pool of stakeholders. However, there is no benefit of having fewer suppliers as this can lead to limited options and potentially compromising on quality or ethical standards.

Question 19

Benefits of acting ethically include:
A)Loyal customers
B)Stronger financial performance
C)Committed employees
D)All of the Above
E)None of the Above

Accepted Answer

Acting ethically leads to loyal customers who are more likely to continue to do business with the company, which results in stronger financial performance. It also leads to committed employees who are proud to work for a company that behaves ethically. Therefore, all of the above options are benefits of acting ethically.

Question 20

Which of the following is (are) potential results of unethical behavior?
A)Fines
B)Jail time
C)Lost revenue
D)All of the above
E)None of the above

Accepted Answer

All of the above are potential results of unethical behavior. Fines can be imposed as penalties for violating legal and ethical standards. Jail time can be a consequence for more serious ethical and legal violations. Unethical behavior can also result in lost revenue from legal and public relations costs associated with the unethical conduct.

Quiz 1: Introduction to Business Ethics

Ethics refer to

This refers to the degree to which individuals have to be provided with some compensation to influence the individual.

This represents a strategic approach to managing ethics in an organization

Activities such as skimming (cash is stolen from the company before the cash is recorded) , billing (submission of fictitious invoices to the company) are examples of

According to Boatright's (2002) stockholder theory

Edward Freeman (2010) presents the stakeholder theory of the modern corporation basically arguing that

Job conditions that are considered normal in a manufacturing country but is in conflict with labor standards in the United States is an example of:

Tyson has committed its brand to efforts to relieve and ultimately end childhood hunger, and in the past few years been integrating social media into its hunger relief efforts. This an example of

Greenopolis was developed by Waste Management Recycle America to serve as an educational tool to teach people how to be more environmentally sound as they go about their daily lives. This is an example of:

Honeybees are disappearing at an alarming rate and that's bad news for the global food chain. Haagen-Dazs decided to create a microsite to raise awareness about the issue. This is an example of :

X Company is experiencing an increase in sales revenue of $150,000 resulting from consumer approval of its new ethical program. What type of positive benefit does this illustrate?

The followings are benefits of good ethics of a company for employees, EXCEPT:

Which of the following regarding fraud is not true?

The view that shareholders have a right to control and earn profits represents which business ethics approach

What is the purpose of the Ethics and Compliance Initiative (ECI) ?

Which of the following regarding occupational fraud is NOT true?

Which of the following can benefit from good company ethics:

Benefits of responsible purchasing include all of the following EXCEPT:

Benefits of acting ethically include:

Which of the following is (are) potential results of unethical behavior?