Business and Society Test one
Latest 2026 Update With Correct
Answers Sure A+
,1. Corporate cul- A blend of
ture ideas, customs, traditional
practices, company values, and
shared meanings
2. Accounting Critically important component of every business firm.
Ethics Financial records must be audited by a certified
professional accounting firm.
Requirements of the accounting function:
• Responsibilities.
• Public interest.
• Integrity.
• Objectivity and independence.
• Due care.
Conflict of interest.
• Conflict with self-interest (of the accounting firm) and the interests of others
(shareholders and the public).
3. Financial Ethics Responsibilities to manage the
firm's assets and raising capital. Self-regulation as the best path
for ethical compliance.
4. Marketing Ethics Marketing: advertising, distributing, and
selling products or services.
Issues in marketing ethics emphasize
consumer privacy, honesty and transparency
in advertising.
Example: YouTube illegally collected personal
data from children.
American Marketing Association (AMA) code
of ethics:
, • Do no harm.
• Foster trust.
• Embrace ethical values
5. Information Ethical challenges in this field involve:
Technology • Invasions of privacy.
Ethics • The collection and storage of, and access
to, personal and business information.
• Confidentiality of electronic mail
communication.
• Copyright protection regarding software,
music, and intellectual property.
• Cyberbullying.
• And other issues.
Example: Google and Amazon fined
for violating France's data protection
laws.
6. Supply Chain Supply Chain: production and operations functions needed to create a
Ethics product or service.
Issues in supply chain ethics emphasize integrity, value and loyalty in
business dealings.
Example: Kobe Steel Limited misled their customers.
Institute for Supply
Management (I SM) principles
and standards:
• Avoid impropriety.
• Be responsible.
• Protect confidentiality.
• Follow the law.
7.
Latest 2026 Update With Correct
Answers Sure A+
,1. Corporate cul- A blend of
ture ideas, customs, traditional
practices, company values, and
shared meanings
2. Accounting Critically important component of every business firm.
Ethics Financial records must be audited by a certified
professional accounting firm.
Requirements of the accounting function:
• Responsibilities.
• Public interest.
• Integrity.
• Objectivity and independence.
• Due care.
Conflict of interest.
• Conflict with self-interest (of the accounting firm) and the interests of others
(shareholders and the public).
3. Financial Ethics Responsibilities to manage the
firm's assets and raising capital. Self-regulation as the best path
for ethical compliance.
4. Marketing Ethics Marketing: advertising, distributing, and
selling products or services.
Issues in marketing ethics emphasize
consumer privacy, honesty and transparency
in advertising.
Example: YouTube illegally collected personal
data from children.
American Marketing Association (AMA) code
of ethics:
, • Do no harm.
• Foster trust.
• Embrace ethical values
5. Information Ethical challenges in this field involve:
Technology • Invasions of privacy.
Ethics • The collection and storage of, and access
to, personal and business information.
• Confidentiality of electronic mail
communication.
• Copyright protection regarding software,
music, and intellectual property.
• Cyberbullying.
• And other issues.
Example: Google and Amazon fined
for violating France's data protection
laws.
6. Supply Chain Supply Chain: production and operations functions needed to create a
Ethics product or service.
Issues in supply chain ethics emphasize integrity, value and loyalty in
business dealings.
Example: Kobe Steel Limited misled their customers.
Institute for Supply
Management (I SM) principles
and standards:
• Avoid impropriety.
• Be responsible.
• Protect confidentiality.
• Follow the law.
7.
