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MGM 101 MIDTERM EXAM ACTUAL EXAM
TESTBANK ALL QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE THIS YEAR
QUESTION: A(n) ______ is an employee who discovers and tries to put an end to a company's
unethical, illegal, or socially irresponsible actions by publicizing them. - ANSWER-Whistle-
blower.
QUESTION: ______ is the use of confidential information to gain from the purchase or sale of
stock. - ANSWER-Insider trading.
QUESTION: A company with a(n) __________ stance to social responsibility actively seeks
opportunities to be socially responsible. - ANSWER-Proactive.
QUESTION: A company with a(n) __________ stance to social responsibility will do everything
required of it legally, but nothing more. - ANSWER-Defensive.
QUESTION: A company with a(n) __________ stance to social responsibility will do as little as
possible to solve social or environmental problems. - ANSWER-Obstructionist.
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QUESTION: In general, ethical and social responsibility issues impacting small businesses and
larger companies differ mostly in ___________. - ANSWER-Scale.
QUESTION: Small business owners face many specific _______ that have an immediate (and
perhaps profound) effect on their business. - ANSWER-Ethical dilemmas.
QUESTION: Mean Manufacturing has been cited for not filing the proper paperwork and for
polluting beyond the acceptable regulatory limits. Jim, the plant manager of Mean
Manufacturing, is looking for ways to alter the paperwork so it will look like less pollution is
emitted and the company will not receive any further fines. Jim has taken which stance toward
social responsibility? - ANSWER-Obstructionist stance.
QUESTION: General partners have ________, while limited partners have ________. - ANSWER-
Unlimited liability; limited liability.
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QUESTION: As partners, Kabir is a(n) ________ because he is actively involved in the day-to-day
operation of the business, while Julia is a(n) _________ because she is just an investor. -
ANSWER-General partner; limited partner.
QUESTION: A(n) ______ is a business whose shares of stock are held by only a few shareholders
and are not widely available for purchase. - ANSWER-Private corporation.
QUESTION: A(n) ______ is a business whose shares of stock are widely held and available for
sale to the general public. - ANSWER-Public corporation.
QUESTION: After managing through a difficult recession, Elle has found that the organization is
rapidly growing. She wants to give employees more control in day-to-day activities. What
should Elle build in to her new organizational structure to prepare for these changes? -
ANSWER-A structure that allows the company to respond quickly to changes in the
environment.
QUESTION: ________ is concerned with the specification of the jobs to be done within a
business and how those jobs relate to one another. - ANSWER-Organizational structure.
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MGM 101 MIDTERM EXAM ACTUAL EXAM
TESTBANK ALL QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE THIS YEAR
QUESTION: A(n) ______ is an employee who discovers and tries to put an end to a company's
unethical, illegal, or socially irresponsible actions by publicizing them. - ANSWER-Whistle-
blower.
QUESTION: ______ is the use of confidential information to gain from the purchase or sale of
stock. - ANSWER-Insider trading.
QUESTION: A company with a(n) __________ stance to social responsibility actively seeks
opportunities to be socially responsible. - ANSWER-Proactive.
QUESTION: A company with a(n) __________ stance to social responsibility will do everything
required of it legally, but nothing more. - ANSWER-Defensive.
QUESTION: A company with a(n) __________ stance to social responsibility will do as little as
possible to solve social or environmental problems. - ANSWER-Obstructionist.
1
, Page 2 of 19
QUESTION: In general, ethical and social responsibility issues impacting small businesses and
larger companies differ mostly in ___________. - ANSWER-Scale.
QUESTION: Small business owners face many specific _______ that have an immediate (and
perhaps profound) effect on their business. - ANSWER-Ethical dilemmas.
QUESTION: Mean Manufacturing has been cited for not filing the proper paperwork and for
polluting beyond the acceptable regulatory limits. Jim, the plant manager of Mean
Manufacturing, is looking for ways to alter the paperwork so it will look like less pollution is
emitted and the company will not receive any further fines. Jim has taken which stance toward
social responsibility? - ANSWER-Obstructionist stance.
QUESTION: General partners have ________, while limited partners have ________. - ANSWER-
Unlimited liability; limited liability.
2
, Page 3 of 19
QUESTION: As partners, Kabir is a(n) ________ because he is actively involved in the day-to-day
operation of the business, while Julia is a(n) _________ because she is just an investor. -
ANSWER-General partner; limited partner.
QUESTION: A(n) ______ is a business whose shares of stock are held by only a few shareholders
and are not widely available for purchase. - ANSWER-Private corporation.
QUESTION: A(n) ______ is a business whose shares of stock are widely held and available for
sale to the general public. - ANSWER-Public corporation.
QUESTION: After managing through a difficult recession, Elle has found that the organization is
rapidly growing. She wants to give employees more control in day-to-day activities. What
should Elle build in to her new organizational structure to prepare for these changes? -
ANSWER-A structure that allows the company to respond quickly to changes in the
environment.
QUESTION: ________ is concerned with the specification of the jobs to be done within a
business and how those jobs relate to one another. - ANSWER-Organizational structure.
3
