BUS-240 TEST 2 REVIEW QUESTIONS AND ANSWERS
A secret agreement between two or more parties for a fraudulent, illegal, or deceitful purpose is known
as - CORRECT ANSWER✅✅✅collusion
A(n) _____ requires an individual to choose among several actions that have negative outcomes. -
CORRECT ANSWER✅✅✅ethical dilemma
Accountants must abide by a strict code of ethics that defines their responsibilities to - CORRECT
ANSWER✅✅✅their clients and their public interest
Affirmative action programs - CORRECT ANSWER✅✅✅involve the recruitment, hiring, promotion,
and training of qualified individuals.
An activity is probably ethical if it - CORRECT ANSWER✅✅✅is approved of by most individuals in the
organization and is customary in the industry.
An employee sorts through a competing business's trash to see if there are any documents that could
reveal secret information. This is a misuse of - CORRECT ANSWER✅✅✅corporate intelligence
An ethical issues is a problem, situation, or opportunity - CORRECT ANSWER✅✅✅requiring an
individual, group, or organization to choose among several actions that must be elevated as right or
wrong, ethical or unethical.
An ethical organizational culture creates an environment in which to structure behavior that is then
evaluated by stakeholders. The key elements of an organizational culture include all of the following
except - CORRECT ANSWER✅✅✅employee compensation
An interchange of giving and receiving in social relationships is known as - CORRECT
ANSWER✅✅✅reciprocity
Anticompetitive strategies that focus on weakening or destroying a competitor have spurred antitrust
legislation and include all of the following except - CORRECT ANSWER✅✅✅free samples
, By prohibiting accounting firms from providing both auditing and consulting services to the same
corporate clients without permission, the Sarbanes-Oxley Act is attempting to eliminate - CORRECT
ANSWER✅✅✅conflicts of interest
Companies that ______ will most likely be found in violation of pro competition legislation - CORRECT
ANSWER✅✅✅establish monopolies
Concerns involving copyright infringement on books, movies and music, and other illegally produced
goods relate to which type of ethical issue? - CORRECT ANSWER✅✅✅intellectual property rights
Conflicts of interest exist when employees must choose whether to - CORRECT
ANSWER✅✅✅advance their own personal interests, those of the organization, or those of some
other group
Creating a perception or belief by words that intentionally deceives someone is - CORRECT
ANSWER✅✅✅related to lying by commission
How do violations of the law usually start? - CORRECT ANSWER✅✅✅When businesspeople stretch
the limits of ethical standards
Prior to the financial meltdown, bond ratings agencies were accused of having _____ because they were
paid by the organizations that they rated. The organizations would shop around for the agency that gave
them the best rating. - CORRECT ANSWER✅✅✅conflicts of interest
Some, especially those in business, complain that the Sarbanes-Oxley Act and similar legislation
a. is excessively complex and financially burdensome.
b. is not necessary.
c. is fair to all firms.
d. has reduced restatements of financial reports.
e. is too simplistic. - CORRECT ANSWER✅✅✅is excessively complex and financially burdensome
A secret agreement between two or more parties for a fraudulent, illegal, or deceitful purpose is known
as - CORRECT ANSWER✅✅✅collusion
A(n) _____ requires an individual to choose among several actions that have negative outcomes. -
CORRECT ANSWER✅✅✅ethical dilemma
Accountants must abide by a strict code of ethics that defines their responsibilities to - CORRECT
ANSWER✅✅✅their clients and their public interest
Affirmative action programs - CORRECT ANSWER✅✅✅involve the recruitment, hiring, promotion,
and training of qualified individuals.
An activity is probably ethical if it - CORRECT ANSWER✅✅✅is approved of by most individuals in the
organization and is customary in the industry.
An employee sorts through a competing business's trash to see if there are any documents that could
reveal secret information. This is a misuse of - CORRECT ANSWER✅✅✅corporate intelligence
An ethical issues is a problem, situation, or opportunity - CORRECT ANSWER✅✅✅requiring an
individual, group, or organization to choose among several actions that must be elevated as right or
wrong, ethical or unethical.
An ethical organizational culture creates an environment in which to structure behavior that is then
evaluated by stakeholders. The key elements of an organizational culture include all of the following
except - CORRECT ANSWER✅✅✅employee compensation
An interchange of giving and receiving in social relationships is known as - CORRECT
ANSWER✅✅✅reciprocity
Anticompetitive strategies that focus on weakening or destroying a competitor have spurred antitrust
legislation and include all of the following except - CORRECT ANSWER✅✅✅free samples
, By prohibiting accounting firms from providing both auditing and consulting services to the same
corporate clients without permission, the Sarbanes-Oxley Act is attempting to eliminate - CORRECT
ANSWER✅✅✅conflicts of interest
Companies that ______ will most likely be found in violation of pro competition legislation - CORRECT
ANSWER✅✅✅establish monopolies
Concerns involving copyright infringement on books, movies and music, and other illegally produced
goods relate to which type of ethical issue? - CORRECT ANSWER✅✅✅intellectual property rights
Conflicts of interest exist when employees must choose whether to - CORRECT
ANSWER✅✅✅advance their own personal interests, those of the organization, or those of some
other group
Creating a perception or belief by words that intentionally deceives someone is - CORRECT
ANSWER✅✅✅related to lying by commission
How do violations of the law usually start? - CORRECT ANSWER✅✅✅When businesspeople stretch
the limits of ethical standards
Prior to the financial meltdown, bond ratings agencies were accused of having _____ because they were
paid by the organizations that they rated. The organizations would shop around for the agency that gave
them the best rating. - CORRECT ANSWER✅✅✅conflicts of interest
Some, especially those in business, complain that the Sarbanes-Oxley Act and similar legislation
a. is excessively complex and financially burdensome.
b. is not necessary.
c. is fair to all firms.
d. has reduced restatements of financial reports.
e. is too simplistic. - CORRECT ANSWER✅✅✅is excessively complex and financially burdensome
