BUSA 2106 Exam 1 Questions and
Answers 100% Solved | Latest Update
Law - ✔✔rules that come from controlling authority that must be obeyed or
there is a consequence
Ethics - ✔✔A set of moral principles or values that govern the conduct of
an individual or a group
Corporate Social Responsiblity - ✔✔States that corporations and
businesses should act with awareness of the consequences and impact
that their decisions will have on others
Maximization of Profits theory - ✔✔also called Shareholder Interest theory)
- make profit
Moral Minimum - ✔✔duty to follow the law
Stakeholder Interest Theory - ✔✔have to consider other stakeholders
interest in decision
Corporate Citizenship Theory - ✔✔moral responsibility
1
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, English Common Law - ✔✔Principles announced in the cases became
precedent for later judges deciding similar case
Legislative Branch - ✔✔is the part of the United States government that
creates laws
Judicial Branch - ✔✔includes criminal and civil courts and helps interpret
the United States Constitution
Executive Branch - ✔✔the branch of government charged with the
execution and enforcementof laws and policies and the administration of
public affairs
Constitution - ✔✔Constitution of the United States of America, States that
any law whether federal, state, or local conflicting with the U.S. Constitution
is unconstitutional and, therefore, unenforceable, Established the structure
of the federal government, State constitutions, Establish the structure of the
state government
Statue - ✔✔Written laws that establish certain courses of conduct that
covered parties must adhere to
Act - ✔✔A bill which has passed through the various legislative steps
required for it and which has become law. Related Terms: Statutes,
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Answers 100% Solved | Latest Update
Law - ✔✔rules that come from controlling authority that must be obeyed or
there is a consequence
Ethics - ✔✔A set of moral principles or values that govern the conduct of
an individual or a group
Corporate Social Responsiblity - ✔✔States that corporations and
businesses should act with awareness of the consequences and impact
that their decisions will have on others
Maximization of Profits theory - ✔✔also called Shareholder Interest theory)
- make profit
Moral Minimum - ✔✔duty to follow the law
Stakeholder Interest Theory - ✔✔have to consider other stakeholders
interest in decision
Corporate Citizenship Theory - ✔✔moral responsibility
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, English Common Law - ✔✔Principles announced in the cases became
precedent for later judges deciding similar case
Legislative Branch - ✔✔is the part of the United States government that
creates laws
Judicial Branch - ✔✔includes criminal and civil courts and helps interpret
the United States Constitution
Executive Branch - ✔✔the branch of government charged with the
execution and enforcementof laws and policies and the administration of
public affairs
Constitution - ✔✔Constitution of the United States of America, States that
any law whether federal, state, or local conflicting with the U.S. Constitution
is unconstitutional and, therefore, unenforceable, Established the structure
of the federal government, State constitutions, Establish the structure of the
state government
Statue - ✔✔Written laws that establish certain courses of conduct that
covered parties must adhere to
Act - ✔✔A bill which has passed through the various legislative steps
required for it and which has become law. Related Terms: Statutes,
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
