BUS 6600 QUESTIONS WITH VERIFIED ANSWERS
Enron and Worldcom's collapses - Answers - Led to new regulations and legislation to
promote the accuracy of financial reporting for publicly held companies
2002 Sarbanes-Oxley Act - Answers - increased the consequences for destroying,
altering or fabricating financial records, and for trying to defraud shareholders
The danger in writing new laws to correct behavior is that: - Answers - people may
begin to think that any behavior that is within the law is also acceptable
Ethics - Answers - society's accepted standards of moral behavior; that is, behaviors
accepted by society as right rather than wrong
most common form of cheating in schools today - Answers - Plagiarizing material from
the internet.
unethical behavior in business, especially in real estate and banking industries -
Answers - severe financial crisis / lack of trust in the free market system
Financial and political leaders can restore trust in the free market system by - Answers -
making business people more accountable for their actions / passing laws to make
accounting records more transparent.
laws - Answers - make business people more accountable for their actions than
knowing what is ethical
which of the following represents ethical behavior beyond what is legally required -
Answers - offering clients the best product for their needs regardless of profitability /
investing in local companies in which the company does business.
An employee ordering personal goods from a website during working hours without
permission from his employer is - Answers - unethical
Societies set the standards for moral behavior, known as _ - Answers - ethics
The standards of moral behavior, what is right or wrong, are known as - Answers -
ethics
an ethical dilemma presents a situation for the decision maker in which there are two -
Answers - equally unsatisfactory alternatives
, If the free-market system is to prevail, it must retain the _________ of its participants
despite the unethical behavior of a few - Answers - trust
compliance-based ethics codes - Answers - emphasize preventing unlawful behavior by
increasing control and penalizing wrongdoers
integrity-based ethics codes - Answers - Define the organization's guiding values, create
an environment that supports ethically sound behavior and stress a shared
accountability.
when you are faced with an ethical dilemma, what should you ask yourself? - Answers -
is the proposed action legal, balanced, how will it make me feel about myself.
facing a decision to either act unethically or be fired for not following that direction -
Answers - ethical dilemma
the leadership and example set by strong ____ helps to instill ethical corporate values in
its employees - Answers - managers
which of the following can indirectly create an unethical business environment -
Answers - overly ambitious goals and incentive programs
to truly create an ethical culture managers must - Answers - show strong commitment to
ethics and compliance
which of the following are reasons a business should be managed ethically - Answers -
to avoid lawsuits/attract customers/maintain good reputation
an _____ ______ethics code creates an environment which supports ethically sound
behavior by stating an organizations guiding values, shared responsibility, and
accountability - Answers - integrity based
an employee who reported her boss to the SEC would be considered ______ protected
by law - Answers - whistleblower
it is important to have an ethics officer to ________ ethics code and provide a means of
communication - Answers - enforce
effective ethics officer shall - Answers - relate well to all employees at all levels/can be
trusted to maintain confidentiality
the dimension of social responsibility, which refers to certain aspects such as producing
low emission vehicles is - Answers - corporate responsibility
according to john f. kennedy what are the four basic rights of comsumers - Answers -
Right to safety, informed, choose, heard
Enron and Worldcom's collapses - Answers - Led to new regulations and legislation to
promote the accuracy of financial reporting for publicly held companies
2002 Sarbanes-Oxley Act - Answers - increased the consequences for destroying,
altering or fabricating financial records, and for trying to defraud shareholders
The danger in writing new laws to correct behavior is that: - Answers - people may
begin to think that any behavior that is within the law is also acceptable
Ethics - Answers - society's accepted standards of moral behavior; that is, behaviors
accepted by society as right rather than wrong
most common form of cheating in schools today - Answers - Plagiarizing material from
the internet.
unethical behavior in business, especially in real estate and banking industries -
Answers - severe financial crisis / lack of trust in the free market system
Financial and political leaders can restore trust in the free market system by - Answers -
making business people more accountable for their actions / passing laws to make
accounting records more transparent.
laws - Answers - make business people more accountable for their actions than
knowing what is ethical
which of the following represents ethical behavior beyond what is legally required -
Answers - offering clients the best product for their needs regardless of profitability /
investing in local companies in which the company does business.
An employee ordering personal goods from a website during working hours without
permission from his employer is - Answers - unethical
Societies set the standards for moral behavior, known as _ - Answers - ethics
The standards of moral behavior, what is right or wrong, are known as - Answers -
ethics
an ethical dilemma presents a situation for the decision maker in which there are two -
Answers - equally unsatisfactory alternatives
, If the free-market system is to prevail, it must retain the _________ of its participants
despite the unethical behavior of a few - Answers - trust
compliance-based ethics codes - Answers - emphasize preventing unlawful behavior by
increasing control and penalizing wrongdoers
integrity-based ethics codes - Answers - Define the organization's guiding values, create
an environment that supports ethically sound behavior and stress a shared
accountability.
when you are faced with an ethical dilemma, what should you ask yourself? - Answers -
is the proposed action legal, balanced, how will it make me feel about myself.
facing a decision to either act unethically or be fired for not following that direction -
Answers - ethical dilemma
the leadership and example set by strong ____ helps to instill ethical corporate values in
its employees - Answers - managers
which of the following can indirectly create an unethical business environment -
Answers - overly ambitious goals and incentive programs
to truly create an ethical culture managers must - Answers - show strong commitment to
ethics and compliance
which of the following are reasons a business should be managed ethically - Answers -
to avoid lawsuits/attract customers/maintain good reputation
an _____ ______ethics code creates an environment which supports ethically sound
behavior by stating an organizations guiding values, shared responsibility, and
accountability - Answers - integrity based
an employee who reported her boss to the SEC would be considered ______ protected
by law - Answers - whistleblower
it is important to have an ethics officer to ________ ethics code and provide a means of
communication - Answers - enforce
effective ethics officer shall - Answers - relate well to all employees at all levels/can be
trusted to maintain confidentiality
the dimension of social responsibility, which refers to certain aspects such as producing
low emission vehicles is - Answers - corporate responsibility
according to john f. kennedy what are the four basic rights of comsumers - Answers -
Right to safety, informed, choose, heard
