Question 1

The National Association of Manufacturers (NAM) announces a new industry code of ethics. The effectiveness of this code will be determined by

Accepted Answer

A)  the commitment of NAM's members to enforcing the code.
B)  the similarity of the code to the personal values of NAM's members.
C)  the success of the campaign publicizing the code.
D)  the relationship between the code and the law.E) None of the above
F) All of the above

Question 2

Ethics is a branch of philosophy that focuses on morality.

Accepted Answer

A) True 
 B)False

Question 3

Once a law is passed to codify an ethical requirement, the ethical aspect of the action is no longer important.

Accepted Answer

A) True 
 B)False

Question 4

Ethics focuses on how persons making business decisions apply

Accepted Answer

A)  legal doctrine.
B)  moral principles.
C)  corporate policy.
D)  financial priorities.E) A) and D)
F) None of the above

Question 5

An overemphasis on long-run profit maximization is a common reason for ethical problems that occur in business.

Accepted Answer

A) True 
 B)False

Question 6

The effectiveness of an industry code of ethics is partly determined by the commitment of the industry or company leadership to enforce it.

Accepted Answer

A) True 
 B)False

Question 7

Because social media is so widespread, it is legal and ethical for a company to have social media policies limiting employees from criticizing the company.

Accepted Answer

A) True 
 B)False

Question 8

The utilitarian theory of ethics does not require

Accepted Answer

A)  a choice among alternatives to produce the maximum societal utility.
B)  a determination of whom an action will affect.
C)  an assessment of the effects of alternatives on those affected.
D)  the acquiring of the means of production by workers.E) None of the above
F) A) and C)

Question 9

With respect to what society will tolerate, a company's compliance with the law, and no more, is

Accepted Answer

A)  the highest ethical level.
B)  the lowest ethical level.
C)  the only ethical level.
D)  irrelevant.E) A) and B)
F) A) and C)

Question 10

Outcome-based ethics deals with traditional standards of behavior.

Accepted Answer

A) True 
 B)False

Question 11

Decision makers need to consider what they can and will do before they consider what they should do.

Accepted Answer

A) True 
 B)False

Question 12

According to the theory of corporate social responsibility, any decision by corporate management should consider how an action affects the firm's

Accepted Answer

A)  officers and employees only.
B)  officers, shareholders, suppliers, customers, and community.
C)  shareholders only.
D)  profit only.E) None of the above
F) A) and D)

Question 13

Under the principle of rights theory, a key factor in determining whether a business decision is ethical is how that decision

Accepted Answer

A)  compares to religious principles.
B)  affects the rights of others.
C)  causes consequences that would follow if everyone acted the same way.
D)  supports the right to make a profit.E) All of the above
F) A) and D)

Question 14

When profit maximization is the goal, a company does not benefit from ethical behavior.

Accepted Answer

A) True 
 B)False

Question 15

A company's ethical code of conduct is not

Accepted Answer

A)  law.
B)  a set of rules that the company can enforce.
C)  an outline of the company's policies.
D)  a guide for the company's decision makers facing ethical questions.E) C) and D)
F) A) and C)

Question 16

To successfully apply the concept of corporate social responsibility, the key factor is

Accepted Answer

A)  the relation of a social activity to a corporate business activity.
B)  the nature of the publicity a corporation will derive from a social activity.
C)  the political correctness of a social activity.
D)  the effect of a social activity on corporate profitability.E) B) and C)
F) None of the above

Question 17

Data Inc. adheres strictly to the goal of maximizing profits. Data will benefit from ethical behavior

Accepted Answer

A)  if customer service is good.
B)  if its owners are happy with the revenue.
C)  under no circumstances.
D)  if it efficiently allocates scarce resources.E) B) and D)
F) None of the above

Question 18

Underscoring the importance of ethics is that the law is not always easy to interpret or apply because laws

Accepted Answer

A)  are organized and structured, and thus can be difficult to read.
B)  represent the people's will, which changes.
C)  result from a political process involving compromise.
D)  contain arbitrary and capricious terms.E) A) and D)
F) None of the above

Question 19

Judging a job applicant based on what an online search reveals about the applicant's activities outside the workplace universally is viewed as ethical.

Accepted Answer

A) True 
 B)False

Question 20

Corporate social responsibility links the responsibility of citizenship with the strategy and key principles of a business.

Accepted Answer

A) True 
 B)False

Exam 3: Ethics in Business

The National Association of Manufacturers (NAM) announces a new industry code of ethics. The effectiveness of this code will be determined by

Correct AnswerverifiedShow Answer

Ethics is a branch of philosophy that focuses on morality.

Correct AnswerverifiedShow Answer

Corporate social responsibility links the responsibility of citizenship with the strategy and key principles of a business.

Correct AnswerverifiedShow Answer

Once a law is passed to codify an ethical requirement, the ethical aspect of the action is no longer important.

Correct AnswerverifiedShow Answer

Outcome-based ethics deals with traditional standards of behavior.

Correct AnswerverifiedShow Answer

Underscoring the importance of ethics is that the law is not always easy to interpret or apply because laws

Correct AnswerverifiedShow Answer

Decision makers need to consider what they can and will do before they consider what they should do.

Correct AnswerverifiedShow Answer

Ethics focuses on how persons making business decisions apply

Correct AnswerverifiedShow Answer

An overemphasis on long-run profit maximization is a common reason for ethical problems that occur in business.

Correct AnswerverifiedShow Answer

To successfully apply the concept of corporate social responsibility, the key factor is

Correct AnswerverifiedShow Answer

According to the theory of corporate social responsibility, any decision by corporate management should consider how an action affects the firm's

Correct AnswerverifiedShow Answer

A company's ethical code of conduct is not

Correct AnswerverifiedShow Answer

The utilitarian theory of ethics does not require

Correct AnswerverifiedShow Answer

Because social media is so widespread, it is legal and ethical for a company to have social media policies limiting employees from criticizing the company.

Correct AnswerverifiedShow Answer

When profit maximization is the goal, a company does not benefit from ethical behavior.

Correct AnswerverifiedShow Answer

With respect to what society will tolerate, a company's compliance with the law, and no more, is

Correct AnswerverifiedShow Answer

Data Inc. adheres strictly to the goal of maximizing profits. Data will benefit from ethical behavior

Correct AnswerverifiedShow Answer

The effectiveness of an industry code of ethics is partly determined by the commitment of the industry or company leadership to enforce it.

Correct AnswerverifiedShow Answer

Under the principle of rights theory, a key factor in determining whether a business decision is ethical is how that decision

Correct AnswerverifiedShow Answer

Judging a job applicant based on what an online search reveals about the applicant's activities outside the workplace universally is viewed as ethical.

Correct AnswerverifiedShow Answer

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