Copyright Cengage Learning. Powered by Cognero. Page 1 TEST BANK FOR ALL CHAPTERS Chapter 01: The Importance of Business Ethics 1. Corporate social responsibility is defined as which of the following? a. An organization’s obligation to maximize its positive effects and minimize its negative effects on stakeholders b. Principles, values, and norms that primarily guide individual and group behavior in the world of business c. The institutionalization of business ethics into all levels of business decision making d. A business’s responsibility to manufacture products that function properly e. Charitable contributions made by a business to enhance its reputation with stakeholders ANSWER: a POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-3 The Development of Business Ethics QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.02 - Examine the historical foundations and evolution of business ethics NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 10:08 AM DATE MODIFIED: 8/3/2021 10:21 AM 2. After the accounting scandals of the early 2000s, which of the following was/were enacted to restore confidence in financial reporting and business ethics? a. Defense Industry Initiative on Business Ethics and Conduct b. Sarbanes -Oxley Act c. Federal Sentencing Guidelines for Organizations d. Foreign Corrupt Practices Act e. Dodd -Frank Wall Street Reform and Consumer Protection Act ANSWER: b POINTS: 1 DIFFICULTY: Moderate REFERENCES: 1-3 The Development of Business Ethics QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.02 - Examine the historical foundations and evolution of business ethics NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 10:22 AM DATE MODIFIED: 8/3/2021 10:30 AM 3. Which of the following is one of the rights spelled out by John F. Kennedy in his ―Consumers’ Bill of Rights‖? a. The right to consumerism Copyright Cengage Learning. Powered by Cognero. Page 2 b. The right to safety c. The right to be protected d. The right to be ethical e. The right to be heard ANSWER: b POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-3 The Development of Business Ethics QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.02 - Examine the historical foundations and evolution of business ethics NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 10:32 AM DATE MODIFIED: 8/3/2021 10:34 AM 4. During the 1990s, the institutionalization of business ethics was largely driven by which piece of legislation? a. Sarbanes -Oxley Act b. Federal Sentencing Guidelines for Organizations c. Dodd -Frank Wall Street Reform and Consumer Protection Act d. Foreign Corrupt Practices Act e. UN Global Compact ANSWER: b POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-3 The Development of Business Ethics QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.02 - Examine the historical foundations and evolution of business ethics NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 11:22 AM DATE MODIFIED: 8/3/2021 11:24 AM 5. Environmental Social Governance (ESG) refers to which of the following? a. A framework for evaluation of firm performance in the areas of environmental, social, and governance b. The most far-reaching change in organizational control and accounting regulations since the Securities and Exchange Act of 1934 c. Guidelines that codified into law incentives to reward organ izations for taking action to prevent misconduct d. An organization developed to guide corporate support for ethical conduct e. An organization’s obligation to maximize its positive impact and minimize its negative impact on stakeholders ANSWER: a POINTS: 1 Copyright Cengage Learning. Powered by Cognero. Page 3 DIFFICULTY: Easy REFERENCES: 1-3 The Development of Business Ethics QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.02 - Examine the historical foundations and evolution of business ethics NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 11:24 AM DATE MODIFIED: 8/3/2021 11:25 AM 6. The 1960s saw a rise of consumerism. What is consumerism? a. An increase in consumer rights by individuals, organizations, and governments b. The growth of international retail chain stores that served global consumers c. Activities undertaken by independent individuals, groups, and organizations to protect their rights as consumers d. The widespread adoption of consumer -oriented marketing strategies among businesses e. The tendency of organizations to view consumers as their most important stakeholder ANSWER: c POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-3 The Development of Business Ethics QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.02 - Examine the historical foundations and evolution of business ethics NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 11:26 AM DATE MODIFIED: 8/3/2021 11:27 AM 7. Ethically charged decisions _______. a. are made at all levels of work and management b. are made primarily by top management c. stem from individual moral philosophies d. are less important than other decision -making processes e. are an isolated personal issue ANSWER: a POINTS: 1 DIFFICULTY: Easy REFERENCES: Introduction QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.01 - Explore conceptualizations of business ethics from an organizational perspective NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics Copyright Cengage Learning. Powered by Cognero. Page 4 STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 11:27 AM DATE MODIFIED: 8/3/2021 11:29 AM 8. Which of the following was developed in the 1980s to guide corporate support for ethical conduct by establishing a method for discussing best practices? a. Federal Sentencing Guidelines for Organizations b. Defense Industry Initiative on Business Ethics and Conduct c. Foreign Corrupt Practices Act d. U.S. Sentencing Commission e. The Southern Common Market ANSWER: b POINTS: 1 DIFFICULTY: Moderate REFERENCES: 1-3 The Development of Business Ethics QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.02 - Examine the historical foundations and evolution of business ethics NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 11:29 AM DATE MODIFIED: 8/3/2021 11:33 AM 9. Firms taking action to prevent and detect business misconduct in cooperation with government regulation are incentivized to do so by the rewards that are the focus of which of the following? a. U.S. Sentencing Commission b. Defense Industry Initiative on Business Ethics and Conduct c. World Trade Organization d. United Nations Global Compact e. Federal Sentencing Guidelines for Organizations ANSWER: e POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-3 The Development of Business Ethics QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: BE.FERR.13.ChO.01.02 - Examine the historical foundations and evolution of business ethics NATIONAL STANDARDS: United States - BUSPROG: Ethics - Ethics STATE STANDARDS: United States - None - DISC: Ethical Responsibilities - Ethical Responsibilities DATE CREATED: 8/3/2021 11:34 AM DATE MODIFIED: 8/3/2021 11:36 AM 10. Which of the following statements about morals is true? a. Morals are the same as principles and ethics.
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