BUSINESS ETHICS CHAPTER 12 ACTUAL TEST
PAPER QUESTIONS AND SOLUTIONS GRADED
A+
◉ What are ethical issues in business often related to?
Answer: A business's relationship with investors, customers,
employees, creditors, suppliers, or competitors.
◉ What is expected of businesspeople regarding fairness and
honesty?
Answer: They are expected to refrain from knowingly deceiving,
misrepresenting, or intimidating others.
◉ What is a conflict of interest in a business context?
Answer: When businesspeople take advantage of a situation for their
own personal interest rather than for the employer's interest.
◉ What does the Sarbanes-Oxley Act of 2002 provide?
Answer: Sweeping legal protection for employees who report
corporate misconduct.
◉ What is a code of ethics?
, Answer: A guide to acceptable and ethical behavior as defined by the
organization.
◉ What is whistle-blowing?
Answer: Informing the press or government officials about unethical
practices within one's organization.
◉ What does social responsibility in business recognize?
Answer: That business activities have an impact on society and the
consideration of that impact in business decision making.
◉ What does corporate citizenship refer to?
Answer: Adopting a strategic approach to fulfilling economic, ethical,
environmental, and social responsibilities.
◉ What does the Latin phrase 'caveat emptor' mean?
Answer: Let the buyer beware.
◉ How did the Great Depression influence social responsibility in
business?
Answer: It triggered public pressure for government intervention to
address economic and social conditions.
PAPER QUESTIONS AND SOLUTIONS GRADED
A+
◉ What are ethical issues in business often related to?
Answer: A business's relationship with investors, customers,
employees, creditors, suppliers, or competitors.
◉ What is expected of businesspeople regarding fairness and
honesty?
Answer: They are expected to refrain from knowingly deceiving,
misrepresenting, or intimidating others.
◉ What is a conflict of interest in a business context?
Answer: When businesspeople take advantage of a situation for their
own personal interest rather than for the employer's interest.
◉ What does the Sarbanes-Oxley Act of 2002 provide?
Answer: Sweeping legal protection for employees who report
corporate misconduct.
◉ What is a code of ethics?
, Answer: A guide to acceptable and ethical behavior as defined by the
organization.
◉ What is whistle-blowing?
Answer: Informing the press or government officials about unethical
practices within one's organization.
◉ What does social responsibility in business recognize?
Answer: That business activities have an impact on society and the
consideration of that impact in business decision making.
◉ What does corporate citizenship refer to?
Answer: Adopting a strategic approach to fulfilling economic, ethical,
environmental, and social responsibilities.
◉ What does the Latin phrase 'caveat emptor' mean?
Answer: Let the buyer beware.
◉ How did the Great Depression influence social responsibility in
business?
Answer: It triggered public pressure for government intervention to
address economic and social conditions.
