GBE Final Exam Questions and Answers Already Passed
Corporate social responsibility is defined as which of the following? - Answers An organization's
obligation to maximize its positive effects and minimize its negative effects on stakeholders
After the accounting scandals of the early 2000s, which of the following was/were enacted to
restore confidence in financial reporting and business ethics? - Answers Sarbanes-Oxley Act
Which of the following was developed in the 1980s to guide corporate support for ethical
conduct by establishing a method for discussing best practices? - Answers Defense Industry
Initiative on Business Ethics and Conduct
Ethically charged decisions _______. - Answers are made at all levels of work and management
Which of the following statements about morals is true? - Answers Morals relate to you and you
alone.
Which of the following statements about business ethics is true? - Answers Conflict or trade-
offs do not exist between profits and business ethics.
To survive and contribute to society, which of the following is true? - Answers Businesses must
earn a profit.
Legal dilemma is a situation where a person is faced with multiple choices, all of which are
undesirable as defined by that person. - Answers False
When an organization has a strong ethical environment, it usually focuses on the core value of
placing whose interests first? - Answers Customers'
Principles are specific and pervasive boundaries for behavior that should not be violated. -
Answers True
Stakeholders' power over businesses stems from their _______. - Answers ability to withhold
organizational resources
A firm that recognizes other stakeholders beyond investors, employees, and suppliers, and
explicitly acknowledges that dialogue exists between a firm's internal and external
environments, has adopted which of the following? - Answers A stakeholder interaction model
Which of the following industries tends to generate a high level of trust from consumers and
stakeholders? - Answers Technology
When unethical acts are discovered in a firm, which of the following is true in most instances? -
Answers Their acceptance and perpetuation were facilitated by cooperation or complicity.
Which of the following statements accurately describes the normative approach? - Answers It
identifies ethical guidelines that dictate how firms should treat stakeholders.
, A stakeholder orientation can be viewed as a(n) _______. - Answers continuum
The idea that the basic mission of business is to produce goods and services at a profit, thus
maximizing its contribution to society, is associated with which of following individuals? -
Answers Milton Friedman
In corporate governance, the process of auditing and improving organizational decisions and
actions is known as _______. - Answers control
A board of directors' fiduciary duty to a company refers to an assumed position of trust and
confidence that entails certain responsibilities. - Answers True
The first step in implementing the stakeholder perspective is _______. - Answers assessing the
corporate culture
Sustainable development is best defined as which of the following? - Answers Meeting the
needs of the present without compromising the ability of future generations to meet their own
needs, with an emphasis on the natural environment
One of the biggest factors in land pollution is the dumping of waste into landfills. By far the
world's biggest wasters are consumers in _______. - Answers the United States
The world's forests, which cover more than 30 percent of the planet, are being destroyed, with
forests shrinking by 502,000 square miles over the past 25 years. Wide-spread deforestation is
caused predominantly by which of the following? - Answers Beef, soy, palm oil, and wood
products
Farmers cannot keep harvested seed from genetically modified crops, but must purchase them
each year from companies such as Bayer, due to the fact that such seeds are _______. - Answers
patented
The Environmental Protection Agency's primary mission is to _______. - Answers protect human
health and the environment
Because ethanol is created from corn in the United States, there are concerns that the increased
use of ethanol will decrease food supplies. - Answers True
Greenwashing is a strategy involving stakeholder assessment to create meaningful long-term
relationships with customers, while maintaining, supporting, and enhancing the natural
environment. - Answers False
Which of the following is an example of sustainability? - Answers Recycling
The long-term variation in average weather patterns is referred to as _______. - Answers climate
change
Which of the following statements about genetically modified seeds is true? - Answers They
Corporate social responsibility is defined as which of the following? - Answers An organization's
obligation to maximize its positive effects and minimize its negative effects on stakeholders
After the accounting scandals of the early 2000s, which of the following was/were enacted to
restore confidence in financial reporting and business ethics? - Answers Sarbanes-Oxley Act
Which of the following was developed in the 1980s to guide corporate support for ethical
conduct by establishing a method for discussing best practices? - Answers Defense Industry
Initiative on Business Ethics and Conduct
Ethically charged decisions _______. - Answers are made at all levels of work and management
Which of the following statements about morals is true? - Answers Morals relate to you and you
alone.
Which of the following statements about business ethics is true? - Answers Conflict or trade-
offs do not exist between profits and business ethics.
To survive and contribute to society, which of the following is true? - Answers Businesses must
earn a profit.
Legal dilemma is a situation where a person is faced with multiple choices, all of which are
undesirable as defined by that person. - Answers False
When an organization has a strong ethical environment, it usually focuses on the core value of
placing whose interests first? - Answers Customers'
Principles are specific and pervasive boundaries for behavior that should not be violated. -
Answers True
Stakeholders' power over businesses stems from their _______. - Answers ability to withhold
organizational resources
A firm that recognizes other stakeholders beyond investors, employees, and suppliers, and
explicitly acknowledges that dialogue exists between a firm's internal and external
environments, has adopted which of the following? - Answers A stakeholder interaction model
Which of the following industries tends to generate a high level of trust from consumers and
stakeholders? - Answers Technology
When unethical acts are discovered in a firm, which of the following is true in most instances? -
Answers Their acceptance and perpetuation were facilitated by cooperation or complicity.
Which of the following statements accurately describes the normative approach? - Answers It
identifies ethical guidelines that dictate how firms should treat stakeholders.
, A stakeholder orientation can be viewed as a(n) _______. - Answers continuum
The idea that the basic mission of business is to produce goods and services at a profit, thus
maximizing its contribution to society, is associated with which of following individuals? -
Answers Milton Friedman
In corporate governance, the process of auditing and improving organizational decisions and
actions is known as _______. - Answers control
A board of directors' fiduciary duty to a company refers to an assumed position of trust and
confidence that entails certain responsibilities. - Answers True
The first step in implementing the stakeholder perspective is _______. - Answers assessing the
corporate culture
Sustainable development is best defined as which of the following? - Answers Meeting the
needs of the present without compromising the ability of future generations to meet their own
needs, with an emphasis on the natural environment
One of the biggest factors in land pollution is the dumping of waste into landfills. By far the
world's biggest wasters are consumers in _______. - Answers the United States
The world's forests, which cover more than 30 percent of the planet, are being destroyed, with
forests shrinking by 502,000 square miles over the past 25 years. Wide-spread deforestation is
caused predominantly by which of the following? - Answers Beef, soy, palm oil, and wood
products
Farmers cannot keep harvested seed from genetically modified crops, but must purchase them
each year from companies such as Bayer, due to the fact that such seeds are _______. - Answers
patented
The Environmental Protection Agency's primary mission is to _______. - Answers protect human
health and the environment
Because ethanol is created from corn in the United States, there are concerns that the increased
use of ethanol will decrease food supplies. - Answers True
Greenwashing is a strategy involving stakeholder assessment to create meaningful long-term
relationships with customers, while maintaining, supporting, and enhancing the natural
environment. - Answers False
Which of the following is an example of sustainability? - Answers Recycling
The long-term variation in average weather patterns is referred to as _______. - Answers climate
change
Which of the following statements about genetically modified seeds is true? - Answers They
