TEST BANK FOR The Legal and Regulatory Environment of Business Marisa Pagnattaro 18edition latest update

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18th Edition Pagnattar mm mm mm




The Legal and Regulatory Environment of Business, 18e
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(Pagnattaro) Chapter 2 The Role of Ethics in Decision
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Making
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1) Federal sentencing guidelines reduce criminal fines for legal violations in companies
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that have taken specific steps to self-police ethical/legal conduct.
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Answer: TRUE m m m m


Explanation: Federal sentencing guidelines reduce criminal fines for legal
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violations in companies that have taken specific steps to self-police
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ethical/legal conduct. Federal law encourages self-regulation.
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Difficulty: 1 Easy mm mm


Topic: Contemporary Business Ethics
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Learning Objective: mm02-01 To compare the connection between law and ethical
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principles. Bloom's:
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AACSB: Analytical Thinking
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2) In society, the sharing of morals promotes social cooperation and is a means of
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social control.
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Answer: TRUE m m m m


Explanation: In society at large, the sharing of moral values promotes social
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cooperation and is a significant means of social control. Shared moral values lead
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one to accept and trust others.
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Difficulty: 1 Easy mm mm


Topic: The Nature of Ethics
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Learning Objective: 02-01 To compare the connection between law and ethical
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principles. Bloom's:
mm Remember
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AACSB: Analytical Thinking; Ethics
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3) With greater diversity comes greater concern over ethical values.
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Answer: TRUE m m m m


Explanation: Diversity fosters concern over values, and as America becomes
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increasingly diverse, changes in traditional norms create challenges in establishing
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shared ethical values. Difficulty: 1 Easy
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Topic: The Nature of Ethics
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Learning Objective: 02-01 To compare the connection between law and ethical
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principles. Bloom's:
mm Remember
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AACSB: Analytical Thinking; Ethics
m m m m mm mm




1
Copyright © 2019 McGraw-Hill Education. All rights reserved.
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No reproduction or distribution without the prior written consent of McGraw-Hill
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Education. mm



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18th Edition Pagnattar mm mm mm




4) Increasing economic interdependence prevents executives and managers at a
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firm from manipulating corporate actions for their own benefit.
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Answer: FALSE m m m m


Explanation: A serious ethical problem arises from economic interdependence and
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the modern corporation, which is the structure of most large businesses in this
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country. The problem is that the corporate leaders are not the real owners of
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corporations. The stockholders are, and although corporate executives and managers
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may own some stock, they seldom own significant percentages of very large
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companies. The ethical problem that can arise is that the executives and managers
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who control what the stockholders own are sometimes able to manipulate corporate
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actions for their own benefit, actions that have unacceptable risks to the owners and
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others.
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Increasing economic interdependence promotes concerns about business ethics.
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Difficulty: 1 Easy
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Topic: The Nature of Ethics
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Learning Objective: 02-01 To compare the connection between law and ethical
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principles. Bloom's:
mm Remember mm m m


AACSB: Analytical Thinking; Ethics
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5) Increasing coverage of business decisions by the news media and the Internet
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has made it harder for large organizations to hide their questionable behavior.
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Answer: TRUE m m m m


Explanation: The news media and the Internet have made it harder for large
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organizations to hide their questionable behavior. Extensive media and Internet
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coverage of business decisions and their effect on society makes us more aware
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than ever of failures of business ethics.
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Difficulty: 1 Easy mm mm


Topic: The Nature of Ethics
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Learning Objective: 02-01 To compare the connection between law and ethical
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principles. Bloom's:
mm Remember mm m m


AACSB: Analytical Thinking
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6) According to Adam Smith, leading a good life means being solely concerned
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about the fortunes of oneself.
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Answer: FALSE m m m m


Explanation: The end result of ethical examination is what philosophers call the
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good. The concept of the good is central to the study of morality. The good may
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be defined as those moral goals and objectives one chooses to pursue. Thus, leading
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a good life means more than having the good life. It means more than material
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possessions and luxury. It means pursuing intangibles, being concerned, as Adam
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Smith put it, about the fortunes of others.
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Difficulty: 1 Easy mm mm


Topic: The Nature of Ethics
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Learning Objective: 02-01 To compare the connection between law and ethical
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2
Copyright © 2019 McGraw-Hill Education. All rights reserved.
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No reproduction or distribution without the prior written consent of McGraw-Hill
mm mm mm mm mm mm mm mm mm mm

Education. mm



mynursytest.store

,DOWNLOAD THE Test Bank for Legal and Regulatory Environment of Business
mm mm mm mm mm mm mm mm mm mm


18th Edition Pagnattar mm mm mm




principles. Bloom's:
mm mm Remember
m m


AACSB: m mAnalytical Thinking
m m mm




3
Copyright © 2019 McGraw-Hill Education. All rights reserved.
mm mm mm mm mm mm mm

No reproduction or distribution without the prior written consent of McGraw-Hill
mm mm mm mm mm mm mm mm mm mm

Education. mm



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18th Edition Pagnattar mm mm mm




7) Adam Smith, the author of The Wealth of Nations, denied the existence of any
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moral element in human nature that goes beyond self-interest.
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Answer: FALSE m m m m


Explanation: Adam Smith wrote, "However selfish man believes himself to be,
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there is no doubt that there are some elements in his nature which lead him to
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concern himself about the fortune of others, in such a way that their happiness is
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necessary for him, although he obtains nothing from it except the pleasure of seeing
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it." With this statement, the author of The Wealth of Nations, perhaps the most
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famous book on economic theory ever written, recognized a moral element in human
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nature that goes beyond self-interest.
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Difficulty: 1 Easy mm mm


Topic: The Nature of Ethics
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Learning Objective: 02-01 To compare the connection between law and ethical
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principles. Bloom's:
mm Remembermm m m


AACSB: Analytical Thinking; Ethics
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8) To have success in international operations, businesses must ignore dissimilarities
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in moral values.
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Answer: FALSE m m m m


Explanation: To succeed in international operations, businesses must be sensitive to
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dissimilarities in moral values. Internationally, businesses often face problems when
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they do business with nations with different moral values.
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Difficulty: 1 Easy mm mm


Topic: The Nature of Ethics
m m m m mm mm mm


Learning Objective: mm02-01 To compare the connection between law and ethical
m m mm mm mm mm mm mm mm mm


principles. Bloom's:
mm Remember
mm m m


AACSB: Analytical Thinking; Ethics
m m m m mm mm




9) Ultimately, the commitment to ethical values is superior to mere observance of
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the law in ensuring responsible business behavior.
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Answer: TRUE m m m m


Explanation: Ultimately, the commitment to ethical values is superior to mere
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observance of the law in ensuring responsible business behavior. Legal rules can
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never be specific enough to regulate all business actions that may have socially
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undesirable or even dangerous consequences. Difficulty: 1 Easy
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Topic: The Nature of Ethics
m m m m mm mm mm


Learning Objective: 02-01 To compare the connection between law and ethical
mm m m mm mm mm mm mm mm mm mm


principles. Bloom's:
mm Remembermm m m


AACSB: Analytical Thinking; Ethics
m m m m mm mm




4
Copyright © 2019 McGraw-Hill Education. All rights reserved.
mm mm mm mm mm mm mm

No reproduction or distribution without the prior written consent of McGraw-Hill
mm mm mm mm mm mm mm mm mm mm

Education. mm



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