FINC 350 TEST BANK 2025/2026 REAL EXAM
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Which of these concepts relates to utilitarianism?
A. Consequences
B. Actions
C. Character
D. Duty - CORRECT ANSWERS-A. Consequences
According to the Greek system of logic introduced by Socrates, normative
ethical theories ultimately are grounded in reason - CORRECT ANSWERS-
True
Explain why ethical responsibilities go beyond legal compliance -
CORRECT ANSWERS-Behaving ethically requires that we meet the
mandatory standards of the law and then go above and
beyond them to recognize that an action may be legal but we personally
may consider it unacceptable. Ethical
reasoning often is more topical than law and reflects the changes in
consciousness that individuals and society
undergo. Often, ethical thought precedes and sets the stage for changes in
the law.
Describe the difference between normative and descriptive ethical theories
- CORRECT ANSWERS-Normative ethical theories are philosophical
theories based on reason that tell individuals how they ought
to behave. Descriptive ethical theories are based on scientific evidence
describing how people tend to behave
in a particular context. The theories discussed in this book are normative.
Which of the following is not a stakeholder?
, A. The media
B. Corporate culture
C. The environment
D. Customers - CORRECT ANSWERS-B. Corporate Culture
According to Milton Friedman, a company's social responsibility consists
solely of bettering the welfare of society - CORRECT ANSWERS-False. In
Friedman's view, a company's social responsibility consists of enhancing
stockholder value
What is corporate social responsibility (CSR) - CORRECT ANSWERS-
CSR is the practice of viewing a business within a broader context, as a
member of society with certain
implicit social obligations, rather than considering the maximization of
shareholder wealth as a company's
sole purpose and objective.
Describe a practical way to prioritize the claims of stakeholders -
CORRECT ANSWERS-In three columns, list stakeholders in order of
perceived priority, their perceived interests, and the likely
impact of the business decision on them. This will aid comprehension of the
decision's impacts as well as
provide justification for the course of conduct ultimately chosen.
Describe how a company's ethical business practices affect its goodwill -
CORRECT ANSWERS-The ethical behavior of managers has a positive
influence on the value of a variety of components affecting
the company's overall goodwill, including its brand, its workforce, and its
customer relationships. Positive
goodwill generated by ethical business practices, in turn, generates long-
term business success.
Which normative ethical theory supports the idea of holding multiple ethical
standards
A. Deontology
B. Utilitarianism
C. Virtue ethics
D. None of the above - CORRECT ANSWERS-D. Deontology
QUESTIONS AND ANSWERS WITH 100% RATED
ANSWERS EXPERT VERIFIED JUST RELEASED
GET IT A+.
Which of these concepts relates to utilitarianism?
A. Consequences
B. Actions
C. Character
D. Duty - CORRECT ANSWERS-A. Consequences
According to the Greek system of logic introduced by Socrates, normative
ethical theories ultimately are grounded in reason - CORRECT ANSWERS-
True
Explain why ethical responsibilities go beyond legal compliance -
CORRECT ANSWERS-Behaving ethically requires that we meet the
mandatory standards of the law and then go above and
beyond them to recognize that an action may be legal but we personally
may consider it unacceptable. Ethical
reasoning often is more topical than law and reflects the changes in
consciousness that individuals and society
undergo. Often, ethical thought precedes and sets the stage for changes in
the law.
Describe the difference between normative and descriptive ethical theories
- CORRECT ANSWERS-Normative ethical theories are philosophical
theories based on reason that tell individuals how they ought
to behave. Descriptive ethical theories are based on scientific evidence
describing how people tend to behave
in a particular context. The theories discussed in this book are normative.
Which of the following is not a stakeholder?
, A. The media
B. Corporate culture
C. The environment
D. Customers - CORRECT ANSWERS-B. Corporate Culture
According to Milton Friedman, a company's social responsibility consists
solely of bettering the welfare of society - CORRECT ANSWERS-False. In
Friedman's view, a company's social responsibility consists of enhancing
stockholder value
What is corporate social responsibility (CSR) - CORRECT ANSWERS-
CSR is the practice of viewing a business within a broader context, as a
member of society with certain
implicit social obligations, rather than considering the maximization of
shareholder wealth as a company's
sole purpose and objective.
Describe a practical way to prioritize the claims of stakeholders -
CORRECT ANSWERS-In three columns, list stakeholders in order of
perceived priority, their perceived interests, and the likely
impact of the business decision on them. This will aid comprehension of the
decision's impacts as well as
provide justification for the course of conduct ultimately chosen.
Describe how a company's ethical business practices affect its goodwill -
CORRECT ANSWERS-The ethical behavior of managers has a positive
influence on the value of a variety of components affecting
the company's overall goodwill, including its brand, its workforce, and its
customer relationships. Positive
goodwill generated by ethical business practices, in turn, generates long-
term business success.
Which normative ethical theory supports the idea of holding multiple ethical
standards
A. Deontology
B. Utilitarianism
C. Virtue ethics
D. None of the above - CORRECT ANSWERS-D. Deontology
