Chapter 4 Business Ethics TEST

In some cultures, including the U.S., excessive gift giving is considered _______________ which is unethical

bribery

In 1970, the U.S. government created the __________________which enforces rules that protect the environment and control pollution

EPA or Environmental Protection agency

When a company does not have to compete its productivity ___________

decreases

Businesses that follow ethical standards value ____________ and honesty in employees

integrity

When making business decisions employees have an ethical obligation to act in the best interest of the

consumers

Total honesty and sincerity

integrity

Something that does good to a person or thing

benefit

Conflict between self-intrest and professional obligation

conflict of intrest

personal behavior

conduct

Rules based on moral principles about how businesses and employees ought to conduct themselves

business ethics

Set of guidelines for maintaining ethics in the workplace

principle

A rule of conduct

code of ethics

a shop or factory where workers work long hours at low wages under unhealthy conditions

sweatshop

Moral principles by which people conduct themselves personally, socially, or professionally

ethics

The duty to do what is best for the good of society

social responsibility

How does a public corporation's overinflating its financial condition affect employees and investors?

If they find out you lied, it will make employees and investors not want to associate themselves with your business

how can treating an employee unethically backfire

The employee could sue the company

list 3 business ethics

personal, professional, and corporate

List 4 responsibilities businesses have to society

costumers, employees, society, creditors and owners

Business ethics focus on decisions considered good or bad, correct or incorrect

False

Different cultures, businesses, and industries have the same ethical standards for uniformity in international commerce

False

In some cultures, excessive gift giving in business is overlooked and considered ethical

False

Most businesses follow their industry's code of ethic

True

Standards are moral principles by which people conduct themselves personally, socially, or professionally

False

The best example of a sustainable development would be

using recycled materials to build housing

Bribery occurs when gifts, money, or favors are offered

to encourage business deals

Which statement is true?

Men and women receive equal pay for equal work

Most businesses are committed to

all of the above

A conflict of interest is a conflict between self- interest and

a personal obligation

OSHA stands for

Occupational Safety and Health Administration

Unethical treatment of employees includes all of the following except

rewarding good employees with salary incentives

The legislation that mandates truthful financial reporting and makes the CEO more accountable for the actions of the financial managers of a firm is the

Sarbanes-Oxley Act

The triangle Shirtwaist Factory fire resulted in

improved working conditions

The following examples of conflicts of interest except

a business hiring an accounting firm to oversee record-keeping

Some firms limit the damage they do to the environment by

any of the above

Keeping inaccurate accounting records is

unethical and illegal

Which statement is most true?

All businesses have the same ethical standards

The Federal Agency that enforces the laws that protect consumers from dangerous of falsely advertised products is known as the

FDA