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Chapter 1--The Importance of Business Ethics Chapter 1--The Importance of Business Ethics Student: ___________________________________________________________________________ 1. Principles are A. laws and regulations that guide behavior in the world of business. B. mores, values, and customs that guide behavior in general. C. specific and pervasive boundaries for behavior that are universal and absolute. D. the obligations businesses assume to maximize their positive impact and minimize their negative impact on stakeholders. E. the mores, values, and customs that parents teach their children. 2. Social responsibility is A. an organization's obligation to maximize its positive effects and minimize its negative effects on stakeholders. B. principles and standards that guide behavior in the world of business. C. a business's responsibility not to pollute the environment. D. a business's responsibility to manufacture products that function properly without harming consumers. E. charitable contributions made by a business to enhance its image. 3. The ____ was(were) enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the early 2000s. A. Defense Industry Initiative on Business Ethics and Conduct B. Sarbanes-Oxley Act C. Federal Sentencing Guidelines for Organizations D. Foreign Corrupt Practices Act E. Ferrell-Fraedrich Act 4. The term business ethics is best described by the following statement: A. It is the study and philosophy of human conduct, with an emphasis on determining right and wrong. B. It is an "inquiry into the nature and grounds of morality where the term morality is taken to mean moral judgments, standards and rules of conduct." C. It is the "study of the general nature of morals and of specific moral choices; moral philosophy; and the rules or standards governing the conduct of the members of a profession." D. It is an organization's obligation to maximize its positive effects and minimize its negative effects on stakeholders. E. It comprises the principles and standards that guide behavior in the world of business. 5. Which of the following is not one of the rights spelled out by John F. Kennedy in his "Consumers' Bill of Rights"? A. The right to choose B. The right to safety C. The right to be informed D. The right to be ethical E. The right to be heard 6. Business ethics was acknowledged as a field of study by business academics and practitioners in the A. 1990s. B. 1980s. C. 1970s. D. 1960s. E. years prior to 1960. 7. Business ethics, as a field, has passed through which of the following states? A. A field of study to theological discussion to recognition of social issues B. Recognition of social issues to a field of study to theological discussion C. A field of study to recognition of social issues to theological discussion D. Recognition of social issues to theological discussion to a field of study E. Theological discussion to recognition of social issues to a field of study 8. The rise of consumerism occurred during the A. 1940s.... View Full Document

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