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Chapter 02 - Business Ethics Chapter 02 Business Ethics True / False Questions 1. Ethical conversation is primarily about finding the one and only right thing to do. True False 2. Business ethics is the application of ethics to the special problems and opportunities experienced by businesspeople. True False 3. The social responsibility of business consists only of the expectations employees have of employers. True False 4. Ethics is not an issue in accounting because of the primarily objective data involved in that field. True False 5. In some countries, businesses must pay bribes in order to receive legitimate supplies. True False 6. In an ethical analysis using the WPH Framework referenced in the text, owners are the most important stakeholders and should receive the greatest consideration in decision making regardless of the type of problem addressed. True False 7. The definition of stakeholder is the same as the definition of shareholder. True False 2-1 Chapter 02 - Business Ethics 8. The community in which a firm operates would not be considered a stakeholder of the firm. True False 9. Situational ethics is the same thing as ethical relativism. True False 10. Consequentialism provides a rigid set of rules to follow regardless of the situation. True False 11. Utilitarianism is a form of consequentialism. True False Multiple Choice Questions 12. Which of the following is the application of ethics to special problems and opportunities experienced by those in business? A. Situational ethics B. Consequentialism C. Business ethics D. Sarbanes-Oxley principles E. Business utilitarianism 13. Which of the following is the study and practice of decisions about what is good, or right? A. Morals B. Ethics C. Consequences D. Law E. Business 2-2 Chapter 02 - Business Ethics 14. A local Chamber of Commerce plans a seminar on "the social responsibility of business in our community." What does that term reference? A. The responsibility of business to make profit for shareholders. B. The responsibility of business to have annual meetings. C. The expectations that the community imposes on firms doing business inside its borders. D. The expectations of employees regarding wage rates. E. The expectations of management in regard to adequate utility resources. 15. Reference: "Environmental Concerns." Connie, the president of a company that makes paper, has a new interest in the environment. She recently went to a seminar on environmental dangers and has decided to take steps to clean things up. She started at home and has now felt compelled to change things at work. Connie had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in the nearby river. Her company has never been cited because it employs a very large number of people in the community, including the mayor's wife and the chief-of-police's brother. On her mission to clean things up, Connie has decided to go even further than the law requires ... View Full Document

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