Exam (elaborations)
LES 305 Exam 1 Practice questions with 100% correct answers
- Course
- Institution
LES 305 Exam 1 Practice questions with 100% correct answers
[Show more]
Content preview
LES 305 Exam 1 Practice questions with100% correct answers
Many companies that had been headquartered in the United States have decided to conduct corporate
inversions, in which they sell their assets to a foreign corporation so they can claim a new residence in
that country for corporate tax purposes and avoid paying corporate taxes in the United States. This
action is permissible under which school of social responsibility?
a. inherence school
b. enlightened self-interest school
c. invisible hand school
d. social responsibility school - correct answer ✔✔A
With respect to the corporate inversions described above, they are permissible under which ethical
theory?
a. primum non nocere
b. utilitarianism
c. ethical egoism
d. Divine Command
e. None of the answer choices are correct - correct answer ✔✔C
Which question is missing from this model of the steps for analyzing ethical dilemmas in your book?
i. Gather the facts
ii. List missing information and your assumptions.
iii. Generate list of alternatives and apply ethical decision-making models.
iv. Evaluate resolutions for cost, legality and impact.
v. Recommend and take action.
a. Follow management's code of conduct.
, b. Follow your industry's code of conduct.
c. Apply ethical decision-making models.
d. List each stakeholder's interests (concerns) in the dilemma.
e. Nothing is missing from the model above. - correct answer ✔✔D
Is there an ethical issue when restaurants and shops give customers discounts, free meals and other
kickbacks in exchange for good reviews on Yelp and other social media websites? - correct answer
✔✔Yes. This creates a conflict of interest on behalf of the reviewer customers.
When you are in a situation like the one described in the question above and you believe that you won't
be influenced by any type of reward because you are more ethical than most people, you are being
influenced by which of the following? - correct answer ✔✔Overconfidence bias
When you are in a situation like the one described in the question above and you don't want to have to
forfeit this incentive, you are being influenced by which of the following? - correct answer ✔✔Loss
aversion
Lawyers will often complain that their clients tend to describe their behavior in a way that is very
favorable to themselves, rather than telling the entire truth about a situation in an objective manner.
This distortion of the truth can be influenced by which of the following? - correct answer ✔✔Self-serving
bias
When large hedge funds look at the issue with Robinhood and GameStop as a "business problem" rather
than an "ethical problem", they are demonstrating which of the following? - correct answer ✔✔Framing
You are waiting by the trolley tracks in your neighborhood when you notice that a runaway trolley car is
racing toward five people who don't see it. They will very likely die if no one stops the trolley. You are
standing by a lever and you can see that if you pull the lever, the trolley will be diverted to a different
track, saving the five people. However, there is one person on that trolley track who will likely be killed if
you divert the trolley. You are acting ethically under which theory? - correct answer ✔✔Utilitarianism
T/F Committing acts of personal decadence, like driving home drunk after an office holiday party has no
relevance to business ethics - correct answer ✔✔False - This behavior may damage the reputation of the
employee and the person or organization that hired him or her
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BravelRadon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now