ACCT 324 module 1 MC practice questions

A(n) ________blank is a problem concerning what a firm should do for which no clear, right decision is available.

• ethical guideline

• values

• ethical dilemma

• social complexity

ethical dilemma

A firm should honor to a certain extent the expectations that a community imposes on it while doing business inside its borders. This is referred to as the ________blankof a business.

• social responsibilityCorrect

• legal positivism

• ethics

• economics

social responsibility

Which of the following is part of the minimum standard which must be met for a firm to be an ethical business?

• Selling products and services below cost price.

• Paying employees above the minimum legal wage.

• Hosting foreign companies to teach them new techniques.

• Choosing a lawful way to compete against rival firms.

• Choosing a lawful way to compete against rival firms.

________blank are positive abstractions that capture one’s sense of what is good or desirable.

• Values

• Ethics

• Morals

• Virtues

values

Four of the most important values influencing business ethics are freedom, security, justice, and efficiency. To provide resources in proportion to need describes which value?

• Freedom

• Security

• Justice

• Efficiency

justice

A business manager deceives an employee in order to maximize pleasure over pain for everyone involved. Which form of consequentialism is the manager following?

• Rule utilitarianism

• Ethical relativism

• Act utilitarianism

• Ethical fundamentalism

Act utilitarianism

Which theory of ethics holds that the right course of action is the option most consistent with the building and maintaining of human relationships?

• Ethics of care

• Categorical imperative

• Consequentialism theory

• Ethical relativism theory

Ethics of care

Which of the following considerations is not included in the “WH Framework” for business ethics?

• Managerial decisions will affect particular groups of stakeholders in the operation of the firm.

• Managerial decisions are made in pursuit of a particular purpose.

• Managerial decisions are made in an attempt to circumvent the law.

• Managerial decisions must meet the standards of action-oriented business behavior.

Managerial decisions are made in an attempt to circumvent the law.

The Corporate and Criminal Fraud Accountability Act is also known as the ________blank Act.

• Dodd-Frank

• Sarbanes-Oxley

• McCain-Feingold

• Glass-Steagall

• Sarbanes-Oxley