Question 1

A company's obligations to society,including the welfare of people and places affected by company activities is called _____.

Accepted Answer

Corporate social responsibility refers to a company's responsibility towards society and the environment, which goes beyond its financial obligations. It involves considering the impact of a company's activities on various stakeholders and taking steps to ensure that the company operates in a socially responsible and sustainable manner.

Question 2

Electronic ______ is the exchange of goods or services using an electronic infrastructure.

Accepted Answer

The answer of Electronic ______ is the exchange of goods...

Question 3

Accounting practices that update the value of an asset to its current market levels are referred to as ______ accounting.

Accepted Answer

The answer of Accounting practices that update the value of...

Question 4

If you act according to absolute moral rules,you are following the ______ principle.

Accepted Answer

The answer of If you act according to absolute moral...

Question 5

Which is NOT an example of a preventive control?

Accepted Answer

Preventive controls are designed to deter errors or fraud before they occur. Choices A, B, C, and D are all examples of preventive measures aimed at avoiding problems. Production quality control (E), however, is typically considered a detective control, as it identifies defects or errors after they have occurred but before the products are shipped or sold.

Question 6

Scenario - GCD Industries
GCD Industries is a multinational organization that produces heavy equipment.It supplies many foreign nations with the necessary equipment to conduct reconstruction after natural disasters.One of the company's largest sales resulted from the devastation that occurred in Japan after the tsunami hit that nation.GCD is committed to helping nations recover from destruction brought about by natural phenomenon.
GCD prides itself on conducting its business in an honest and ethical manner.It does not wish to deal with countries that engage in corrupt business practices,but realizes that all nations have differing business practices.When the need arises for its products,this company strives to impart integrity into all of its business deals with foreign nations regardless of that nation's accepted practices.
-GCD Industries employs a set of internal controls within its operations to help ensure ethical behavior and to help prevent financial impropriety.Which one of the following is least likely to be used as an internal control by this company?

Accepted Answer

All funds due the company and all checks for expenditures should not be handled by the same person as this could lead to fraud or embezzlement. This control lacks segregation of duties, which is a crucial component of effective internal control.

Question 7

_____ refers to a system of rules and procedures designed to ensure the accuracy and reliability of financial and accounting information.

Accepted Answer

Internal controls refer to the policies and procedures established within an organization to ensure the accuracy and reliability of financial and accounting information. This includes measures such as segregation of duties, authorization and approval procedures, and physical controls over assets. External controls, on the other hand, are measures put in place by external parties such as auditors or regulators. Environmental controls relate to measures taken to protect the environment, global controls relate to multinational regulations and laws, and legal controls refer to the legal system and frameworks in place to regulate business activities.

Question 8

Scenario - Bradley Corporation
The Bradley Corporation manufactures packaged food items that are sold around the globe.Baby food is the prominent product line currently produced by the corporation.Many of the customers for these products are located in third world countries where infant nutrition is a serious problem.
Bradley has recently decided to change its internal management structure.New managers for the corporation are now in place; however these new leaders do not appear to have the same value system as the former leaders.The former leaders embraced the idea of product safety and exhibited integrity in the production of the corporation's product lines.While the new managers claim these are important to them also,it seems the bottom line profit has precedent with them.
These changes have created concern in the company.There is strong disapproval for the way the company is conducting its business at the present time.The Board of Directors for Bradley is facing the serious question of whether profit is the only thing that matters now to the corporation.
-There is a distinct difference in the value systems between the original and new managers of the Bradley Corporation.All of the following except which one represents a key issue in ethics education,which if reinforced to the new managers,could strengthen their current value systems?

Accepted Answer

Option D, "Recognition for the necessity of vast profits" does not represent a key issue in ethics education as it suggests that profit is the only thing that matters. The other options, A, B, C, and E, all relate to reinforcing ethical values and decision-making, and promoting responsible business practices.

Question 9

Of the following statements,which is NOT true about ethics and integrity?

Accepted Answer

Ethical situations are often complex and involve shades of gray rather than simply being black and white. It is important to consider multiple perspectives and potential consequences when making ethical decisions.

Question 10

The Foreign _______ Practices Act is a U.S.federal law that consists of two parts: an anti-bribery provision and a requirement to maintain an adequate internal control system over financial books and records

Accepted Answer

The answer of The Foreign _______ Practices Act is a...

Question 11

The Corruption ________ Index is a report published each year by Transparency International,providing metrics to the potential corruption risk for 174 countries.

Accepted Answer

The answer of The Corruption ________ Index is a report...

Question 12

Scenario - GCD Industries
GCD Industries is a multinational organization that produces heavy equipment.It supplies many foreign nations with the necessary equipment to conduct reconstruction after natural disasters.One of the company's largest sales resulted from the devastation that occurred in Japan after the tsunami hit that nation.GCD is committed to helping nations recover from destruction brought about by natural phenomenon.
GCD prides itself on conducting its business in an honest and ethical manner.It does not wish to deal with countries that engage in corrupt business practices,but realizes that all nations have differing business practices.When the need arises for its products,this company strives to impart integrity into all of its business deals with foreign nations regardless of that nation's accepted practices.
-GCD Industries acknowledges it is under the guidelines of the Foreign Corrupt Practices Act whenever it has dealings in the foreign marketplace.Which one of the following is not addressed by this Act?

Accepted Answer

The Foreign Corrupt Practices Act addresses issues related to bribery of foreign officials, but it does not address establishing pay scales for employees of the company while working on foreign soil.

Question 13

A type of fraud,in which money received from later investors is used to provide returns to earlier investors,thus giving an appearance of a profitable investment is called a ______ scheme.

Accepted Answer

The answer of A type of fraud,in which money received...

Question 14

Scenario - GCD Industries
GCD Industries is a multinational organization that produces heavy equipment.It supplies many foreign nations with the necessary equipment to conduct reconstruction after natural disasters.One of the company's largest sales resulted from the devastation that occurred in Japan after the tsunami hit that nation.GCD is committed to helping nations recover from destruction brought about by natural phenomenon.
GCD prides itself on conducting its business in an honest and ethical manner.It does not wish to deal with countries that engage in corrupt business practices,but realizes that all nations have differing business practices.When the need arises for its products,this company strives to impart integrity into all of its business deals with foreign nations regardless of that nation's accepted practices.
-GCD Industries attempts to always conduct its business in an ethical manner.It investigates the foreign nations in which it operates so it will be aware of any upcoming business practice differences such as corruption levels the company may face.Which one of the following is the most likely source of the information sought by GCD Industries?

Accepted Answer

The Corruption Perceptions Index (CPI) is an index published annually by Transparency International that ranks countries based on levels of corruption. As GCD Industries wishes to conduct ethical business dealings and avoid corrupt practices, it is likely that they would refer to the CPI to investigate the corruption levels in foreign nations where they operate. The WTO (World Trade Organization) deals with trade agreements and disputes, while the CSR (Corporate Social Responsibility) and WHO (World Health Organization) are not directly related to investigating corruption levels in foreign nations. The FCPA (Foreign Corrupt Practices Act) is a US law that prohibits bribing foreign officials for business purposes but is not a source of information on corruption levels in foreign nations.

Question 15

Which causes MOST problems associated with computer security?

Accepted Answer

The answer of Which causes MOST problems associated with computer...

Question 16

_________ are a system of rules and procedures within a business designed to ensure the accuracy and reliability of financial and accounting information

Accepted Answer

The answer of _________ are a system of rules and...

Question 17

______ is the branch of philosophy that addresses the values pertaining to human behavior,with specific regard to the "rightness" and "wrongness" of actions and to the "goodness" and "badness" of the intent and results of such actions.

Accepted Answer

The answer of ______ is the branch of philosophy that...

Question 18

________ refers to a company's obligations to society,including the welfare of people and places affected by company activities

Accepted Answer

The answer of ________ refers to a company's obligations to...

Question 19

Scenario - Bradley Corporation
The Bradley Corporation manufactures packaged food items that are sold around the globe.Baby food is the prominent product line currently produced by the corporation.Many of the customers for these products are located in third world countries where infant nutrition is a serious problem.
Bradley has recently decided to change its internal management structure.New managers for the corporation are now in place; however these new leaders do not appear to have the same value system as the former leaders.The former leaders embraced the idea of product safety and exhibited integrity in the production of the corporation's product lines.While the new managers claim these are important to them also,it seems the bottom line profit has precedent with them.
These changes have created concern in the company.There is strong disapproval for the way the company is conducting its business at the present time.The Board of Directors for Bradley is facing the serious question of whether profit is the only thing that matters now to the corporation.
-The Bradley Corporation is faced with a decision that involves selling an outdated product such as baby food to foreign markets to make a large profit versus losing money by destroying outdated products.Which of the following best identifies what the Bradley Corporation is experiencing?

Accepted Answer

The Bradley Corporation is experiencing an ethical dilemma as it faces a decision that involves the potential harm of selling outdated baby food to third world countries versus losing money by destroying the products. The new management's focus on profit over product safety and integrity further intensifies the ethical dilemma.

Question 20

Adherence to moral and ethical principles; soundness of moral character; and honesty demonstrates _________.

Accepted Answer

The answer of Adherence to moral and ethical principles; soundness...

Quiz 8: Control of Global Business