,DOWNLOAD THE Test Bank for Business Changing World 7th Edition Ferrell
Chapter 02 - Business Ethics and Social Responsibility
Chapter 02
Business Ethics and Social Responsibility
True / False Questions
1. Business ethics refers to principles and standards that determine acceptable conduct in
business organizations.
TRUE
Business ethics are principles and standards that determine acceptable behaviour for
individuals within an organization as well as the organization at large.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
2. Social responsibility is another term for ethics.
FALSE
Social responsibility is a broad concept that considers the impact of an entire business's
activities on society and ethics refer to an individual's or a work group's decisions that society
evaluates as right or wrong.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
2-1
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,DOWNLOAD THE Test Bank for Business Changing World 7th Edition Ferrell
Chapter 02 - Business Ethics and Social Responsibility
3. The acceptability of behavior of a business rests solely with the business itself.
FALSE
The acceptability of behavior in business is determined by not only the organization, but also
stakeholders such as customers, competitors, government regulators, interest groups, and the
public, as well as each individual's personal principles and values.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
4. Nearly all business decisions may be judged as right or wrong, ethical or unethical.
TRUE
Business decisions, either by law or by society, will be deemed an acceptable practice or not.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
5. The most basic ethical concerns have been formalized through laws and regulations that
encourage conformity to society's values and norms.
TRUE
The U.S. Congress passed the Sarbanes-Oxley Act and the Ontario's government proclaimed
Bill C-198 which criminalized securities fraud as well as stiffened corporate fraud.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
2-2
mynursytest.store
, DOWNLOAD THE Test Bank for Business Changing World 7th Edition Ferrell
Chapter 02 - Business Ethics and Social Responsibility
6. Only corporations have to worry about ethics scandals and social responsibility issues.
FALSE
Ethical issues are not limited to for-profit corporations, but include government, non-profits
such as universities, sports, and individuals.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-02 The Role of Ethics in Business
7. The Occupy Movement was considered a global protest against the private ownership of
resources and the resulting undermining of democracy.
FALSE
The Occupy Movement can be described as a global protest against social and economic
inequality. The protestors believe that global corporations, especially financial institutions and
wealthy individuals, have an unfair influence in politics leading to economic and social
problems that undermine democracy.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-02 The Role of Ethics in Business
8. Business ethics are the same as legal issues.
FALSE
Business ethics go beyond legal issues by building trust among individuals and in business
relationships, which validates and promotes confidence among those relationships.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-02 The Role of Ethics in Business
2-3
mynursytest.store
Chapter 02 - Business Ethics and Social Responsibility
Chapter 02
Business Ethics and Social Responsibility
True / False Questions
1. Business ethics refers to principles and standards that determine acceptable conduct in
business organizations.
TRUE
Business ethics are principles and standards that determine acceptable behaviour for
individuals within an organization as well as the organization at large.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
2. Social responsibility is another term for ethics.
FALSE
Social responsibility is a broad concept that considers the impact of an entire business's
activities on society and ethics refer to an individual's or a work group's decisions that society
evaluates as right or wrong.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
2-1
mynursytest.store
,DOWNLOAD THE Test Bank for Business Changing World 7th Edition Ferrell
Chapter 02 - Business Ethics and Social Responsibility
3. The acceptability of behavior of a business rests solely with the business itself.
FALSE
The acceptability of behavior in business is determined by not only the organization, but also
stakeholders such as customers, competitors, government regulators, interest groups, and the
public, as well as each individual's personal principles and values.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
4. Nearly all business decisions may be judged as right or wrong, ethical or unethical.
TRUE
Business decisions, either by law or by society, will be deemed an acceptable practice or not.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
5. The most basic ethical concerns have been formalized through laws and regulations that
encourage conformity to society's values and norms.
TRUE
The U.S. Congress passed the Sarbanes-Oxley Act and the Ontario's government proclaimed
Bill C-198 which criminalized securities fraud as well as stiffened corporate fraud.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-01 Business Ethics and Social Responsibility
2-2
mynursytest.store
, DOWNLOAD THE Test Bank for Business Changing World 7th Edition Ferrell
Chapter 02 - Business Ethics and Social Responsibility
6. Only corporations have to worry about ethics scandals and social responsibility issues.
FALSE
Ethical issues are not limited to for-profit corporations, but include government, non-profits
such as universities, sports, and individuals.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-02 The Role of Ethics in Business
7. The Occupy Movement was considered a global protest against the private ownership of
resources and the resulting undermining of democracy.
FALSE
The Occupy Movement can be described as a global protest against social and economic
inequality. The protestors believe that global corporations, especially financial institutions and
wealthy individuals, have an unfair influence in politics leading to economic and social
problems that undermine democracy.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Medium
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-02 The Role of Ethics in Business
8. Business ethics are the same as legal issues.
FALSE
Business ethics go beyond legal issues by building trust among individuals and in business
relationships, which validates and promotes confidence among those relationships.
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 02-01 Define business ethics and social responsibility, and examine their importance.
Topic: 02-02 The Role of Ethics in Business
2-3
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