Question 1

Which of the following is not among the four consumer rights identified by President John F.Kennedy in 1962?

Accepted Answer

The four consumer rights identified by President John F. Kennedy in 1962 are the right to safety, the right to be informed, the right to choose, and the right to be heard. The right to have products available is not one of them.

Question 2

Executives at Johns Manville tried to suppress evidence that;

Accepted Answer

Executives at Johns Manville tried to suppress evidence that asbestos, one of its products, caused a deadly lung disease among many of its workers. This was part of a larger pattern of behavior by companies involved in the asbestos industry, where the health risks associated with asbestos exposure were minimized or ignored to protect profits.

Question 3

Among the consumer rights cited by President John F.Kennedy in 1962 is the right to safe products.

Accepted Answer

President John F. Kennedy introduced the concept of consumer rights in a speech to the US Congress on March 15, 1962, which included the right to safety, meaning that products should not pose a risk to consumers' health or life.

Question 4

Procter & Gamble uses a measure of worker safety called "total misconduct rate per employee."

Accepted Answer

Procter & Gamble uses a measure called "total incident rate per employee," not "total misconduct rate per employee," to track worker safety.

Question 5

In balancing its responsibilities toward all stakeholders when making legal,economic,ethical,and social decisions,Condare Upholstery Supply Inc.takes an approach to organizational activities called _____.

Accepted Answer

Corporate social responsibility (CSR) refers to a company's efforts to balance its commitments and activities with respect to legal, economic, ethical, and social concerns, aiming to benefit not only the organization but also its stakeholders and the wider community.

Question 6

Because Pleasant Valley Pet Products is known as a good corporate citizen,it is successful at:

Accepted Answer

Being recognized as a good corporate citizen can enhance a company's reputation, making it more attractive to current and potential employees who may value a positive corporate culture and ethical practices. This can lead to better attraction and retention of qualified employees.

Question 7

Determining what's "right" or "wrong" is made a little easier by the principle that what's "right" for one group of stakeholders is probably "right" for another.

Accepted Answer

The principle that what's "right" for one group of stakeholders is probably "right" for another is overly simplistic and does not account for the complex and often conflicting interests and values of different stakeholder groups. What is considered "right" can vary significantly between groups, making ethical decision-making more challenging.

Question 8

In the compliant stage of corporate social responsibility,a company admits that,because the problem won't go away,it must take responsibility and action for practical long-term solutions.

Accepted Answer

In the compliant stage of corporate social responsibility, a company typically follows legal requirements but does not necessarily take voluntary action beyond compliance. The description given aligns more closely with a proactive or strategic approach to CSR, where a company actively seeks long-term solutions to social or environmental issues.

Question 9

Laws governing equal opportunity require that people must be hired on the basis of _____,not _____.

Accepted Answer

Laws governing equal opportunity mandate that hiring decisions should be based on merit (such as skills, experience, and qualifications) rather than personal characteristics (such as race, gender, religion, or other non-job-related factors). This ensures fairness and equality in employment practices.

Question 10

By law,employers must provide workers' compensation.

Accepted Answer

In the United States, employers are generally required by law to provide workers' compensation insurance to cover employees in case they are injured or become ill as a result of their job. This requirement varies by state but is a common legal obligation for employers.

Question 11

The Equal Pay Act of 1963 requires equal pay for all males hired for jobs that entail equal skill,equal effort,equal responsibility,or similar working conditions.

Accepted Answer

The Equal Pay Act of 1963 requires equal pay for both males and females for jobs that require equal skill, effort, responsibility, and are performed under similar working conditions.

Question 12

Procter & Gamble uses a measure of worker safety called _____.

Accepted Answer

Procter & Gamble uses a measure of worker safety called total incident rate per employee to track and manage workplace safety.

Question 13

Which of the following companies got into trouble when upper-level management purposely deceived shareholders with fraudulent financial statements?

Accepted Answer

WorldCom was involved in a massive accounting scandal where the company's upper-level management purposely deceived shareholders and the public by inflating the company's assets and profits on its financial statements. This scandal, which came to light in the early 2000s, is one of the largest instances of corporate fraud in history.

Question 14

The late Actor,Paul Newman,made such large profits from "Newman's Own" foods that he donated some to seriously ill children.

Accepted Answer

The answer of The late Actor,Paul Newman,made such large profits...

Question 15

Managers have a(n)_____ responsibility to owners to safeguard a company's assets and handle its funds in a trustworthy manner.

Accepted Answer

Managers have a fiduciary responsibility to owners, which means they are entrusted to manage the company's assets and funds in the best interest of the owners or shareholders.

Question 16

Because they invest risk capital in a firm in order to realize a financial return,owners can't be regarded as stakeholders.

Accepted Answer

Owners are indeed considered stakeholders because they have a vested interest in the success and performance of the company, aligning with the definition of a stakeholder as anyone who has an interest in the health and success of a business.

Question 17

The federal government has set a minimum wage.

Accepted Answer

The federal government sets a nationwide minimum wage, which is the lowest hourly pay employers can legally pay their workers.

Question 18

Microsoft's former CEO and philanthropist Bill Gates intends to distribute more than $3 billion dollars to stop child abuse.

Accepted Answer

Bill Gates, through the Bill & Melinda Gates Foundation, focuses on global health, development, and education, but there is no specific initiative announced to distribute more than $3 billion dollars solely to stop child abuse.

Question 19

Pillows have labels identifying the materials used to make them because of President John F.Kennedy's bill of consumer rights.

Accepted Answer

The correct answer is true because President John F. Kennedy's bill of consumer rights included the right to be informed about the materials used in products, which led to the requirement for pillows to have labels identifying the materials used to make them.

Question 20

A man newly hired at the same time as a woman will often get _____.

Accepted Answer

Studies and reports have shown that gender pay gaps exist in many industries, with men often starting at higher salaries than women for the same or similar positions.

Quiz 4: Business Ethics and Social Responsibility