20 mcq’s | Business & Finance homework help

20 mcq’s

1.  ________ refers to standards of moral behavior.
A. Legality
B. Responsibility
C. Integrity
D. Ethics

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2.  Laws represent the standards of ________ behavior.
A. ethical
B. legal
C. moral
D. socially responsible
Laws are written to protect ourselves from fraud, theft, and violence. Ethics go beyond the law. Many immoral and unethical acts are well within the law.

3.  Ethical behavior covers a ________ range of conduct than legal behavior.
A. wider
B. more limited
C. smaller
D. less demanding
Ethical behavior requires more than following the law, but following the law is an important first step. A society gets into trouble when people consider only what is illegal and not also what is unethical.

4.  Many individuals today believe that ethical behavior is determined by what is best for them at the time. This is an example of:
A. Situational ethics.
B. Moral absolutes.
C. The Golden Rule.
D. New age realism.

1.  Considering the potential impact on others prior to making a decision is consistent with ________ behavior.
A. legal
B. anti-social
C. ethical
D. self-motivated

2.  Purposefully understating your firm’s income to avoid paying higher taxes is an example of:
A. An accepted business practice.
B. Tax accountants doing their job.
C. Illegal behavior.
D. A firm’s responsibility to its owners.
The first standard in business ethics is the legality of the activity. Tax evasion is illegal.

3.  Cigarette producers refused to voluntarily place health warnings on their packages. In response, the federal government passed laws requiring health warnings on all cigarette packages. With respect to ethical behavior, this sequence of events is:
A. The intended approach.
B. The desired approach.
C. Not the desired approach.
D. Not really a concern.
Ethical behavior by businesses is a reflection of a concern for the welfare of society as a whole. Many different sources give the following statements of basic moral values: integrity, respect for human life, self-control, honesty, courage, and self-sacrifice are right; cheating, cowardice, and cruelty are wrong.

4.  Which of the following questions will help individuals and organizations when deciding if their decisions are ethical?
A. Can I do this without getting caught?
B. Is it balanced?
C. Has it been done before?
D. Is there a desirable alternative?

1.  The first step when facing an ethical dilemma is to ask:
A. “Is it legal?”
B. “Is it balanced?”
C. “How will it make me feel about myself?”
D. “Is it ethical?”

2.  Which of the following questions can help us avoid a decision that would injure our self-esteem?
A. Is it legal?
B. Is it balanced?
C. How will it make me feel about myself?
D. How can I avoid taking the blame?

3.  Ethical dilemmas in business:
A. force us to make poor choices.
B. always end up bringing out the best in us.
C. often force us to choose between equally unsatisfactory alternatives.
D. define us as being moral absolutists or moral situation lists.

4.  Business relationships often present ethical dilemmas that are:
A. not easily resolved.
B. easily resolved by following the relevant laws.
C. best resolved by creating a win-lose situation.
D. irrelevant and therefore require no action.
The textbook describes an ethical dilemma as a problem without a satisfactory solution. Sometimes you must choose between equally unsatisfactory alternatives. Even for companies and individuals with a strong code of ethics, there are still no easy solutions to ethical problems.

1.  Ethical behavior at work is learned by:
A. Attending corporate responsibility seminars.
B. Tracking the failures of those who are caught in business scandals.
C. Reading about why others were fired from the job.
D. Observing the actions of others.

2.  Which of the following is a reason why a business should be managed ethically?
A. It is the right thing to do.
B. Strict global regulations require it.
C. It is the law in the U.S.
D. Employees demand it.

3.  Relationships between businesses and among nations,
A. should be based on international law, exclusively.
B. should be based on fairness, honesty, openness, and moral integrity.
C. should be scrutinized carefully to make some determination as to whether both sides have the same type of leader behavior when it comes to assigning work.
D. will be adversarial because seldom does either side believe in win-win situations.

4.  When managers disregard ethical concerns, the likely result is:
A. a reduction in employee turnover.
B. an improvement in overall manager morale.
C. a reduction in lawsuits.
D. a general mistrust between workers and management.

1.  Creating competition between employees within the corporation:
A. can encourage employees to deceive customers.
B. should focus on improving corporate profit.
C. must be ignored when corporate ethics are developed.
D. can bring out the best in employees.
The text refers to the Sears experience in automotive repairs. The emphasis on meeting sales quotas created an environment that led employees to deceive their customers.

2.  Following an ethics-based approach to decision making will normally lead to higher:
A. profits.
B. trust and cooperation.
C. prices.
D. employee turnover.

3.  Following an ethics-based approach to decision making will normally lead to:
A. higher profits.
B. lower employee turnover.
C. lower prices.
D. more competition.

4.  The Hum-dinger Corporation recently instituted a corporate ethics code. The president of the company realizes that ethical relationships are based on:
A. fairness and honesty.
B. strict penalties for illegal activities.
C. a full-time compliance officer monitoring employee behavior.
D. watchdogs and whistleblowers. Place an order

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