BUSI Chapter 3 Review questions with correct answers

The Sarbanes-Oxley Act was enacted to reduce the number of unethical business decisions by requiring the accountability of publicly traded companies. - Answer True Once a law is passed to codify an ethical requirement, the ethical aspect of the action is no longer important.. - Answer False Conduct that is legal is ethically unquestionable. - Answer False Because it may be unclear how a court will interpret & apply a law, companies can ensure decisions are viewed as ethical by documenting their own interpretation of the law. - Answer False Ethics is a branch of philosophy that focuses on morality. - Answer True Congress does not pass laws based on ethics - Answer False It can be difficult to predict with certainty how a court will apply a given law to a particular action. - Answer True The term moral minimum is best defined as the highest degree of ethical behavior expected of a firm. - Answer False The study of ethics goes no further than the requirements of the law to evaluate what is right for society. - Answer False