OBHR 4310 - Exam 1 Questions with Correct Answers
Five Key Reasons Business Should Be Ethical Correct Answer-1. To
meet demands of business stakeholders
2. To enhance business performance
3. To comply with legal requirements(Sarbanes-Oxley Act 2002:
Accuracy of fin. reports, fraudulent pay back bonuses)
4. To prevent or minimize harm
5. To promote personal morality
Information should be Correct Answer-Accurate
Relevant
Timely
economic regulation Correct Answer-Aim to modify the normal
operation of the free market and the forces of s and demand ; the oldest
form of regulation .
Example Dodd - Frank Act of 2010 regulated oversight and supervision
of financial institutions .
A public issue exists when there is agreement between the stakeholders '
expectations of what a business firm should do and the actual
performance of that business firm . Correct Answer-False
Understanding and responding to changing societal expectations is a
business necessity . Correct Answer-True
, If all people relied on ethical relativism , there would be no universal
ethical standards on which people around the globe could agree . Correct
Answer-True
Business cannot expect to be profitable while adhering to ethical
principles of conduct . Correct Answer-False
Ethical ideas are present in all societies , all organizations , and all
individual persons . Correct Answer-True
In all cases , businesses are unable to exert enough influence over
government leaders to keep them in power . Correct Answer-False
How a business reacts to specific government policy often depends on if
they would be helped or hurt by the rules . Correct Answer-True
A national health care policy is an example of an economic policy .
Correct Answer-False
Economic regulations aim to modify the normal operations of the free
market and the forces of supply and demand . Correct Answer-True
The relationship between business and society is most accurately
described by which statement ? Correct Answer-Business is a distinct
bounded entity within the larger bounded entity of society .
Five Key Reasons Business Should Be Ethical Correct Answer-1. To
meet demands of business stakeholders
2. To enhance business performance
3. To comply with legal requirements(Sarbanes-Oxley Act 2002:
Accuracy of fin. reports, fraudulent pay back bonuses)
4. To prevent or minimize harm
5. To promote personal morality
Information should be Correct Answer-Accurate
Relevant
Timely
economic regulation Correct Answer-Aim to modify the normal
operation of the free market and the forces of s and demand ; the oldest
form of regulation .
Example Dodd - Frank Act of 2010 regulated oversight and supervision
of financial institutions .
A public issue exists when there is agreement between the stakeholders '
expectations of what a business firm should do and the actual
performance of that business firm . Correct Answer-False
Understanding and responding to changing societal expectations is a
business necessity . Correct Answer-True
, If all people relied on ethical relativism , there would be no universal
ethical standards on which people around the globe could agree . Correct
Answer-True
Business cannot expect to be profitable while adhering to ethical
principles of conduct . Correct Answer-False
Ethical ideas are present in all societies , all organizations , and all
individual persons . Correct Answer-True
In all cases , businesses are unable to exert enough influence over
government leaders to keep them in power . Correct Answer-False
How a business reacts to specific government policy often depends on if
they would be helped or hurt by the rules . Correct Answer-True
A national health care policy is an example of an economic policy .
Correct Answer-False
Economic regulations aim to modify the normal operations of the free
market and the forces of supply and demand . Correct Answer-True
The relationship between business and society is most accurately
described by which statement ? Correct Answer-Business is a distinct
bounded entity within the larger bounded entity of society .
