Ch02-TB-BLTE-8e

Ch02-TB-BLTE-8e - Chapter 2 Ethics and Business Decision...

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Unformatted text preview: Chapter 2 Ethics and Business Decision Making TRUE/FALSE QUESTIONS 1. Ethics focuses on the way in which moral principles apply in daily life. ANSWER: T PAGE: 47 TYPE: = MISC: AACSB Ethics Skill Level: AICPA Critical Thinking 2. Ethics is not concerned with the way in which moral principles are derived. ANSWER: F PAGE: 47 TYPE: = MISC: AACSB Ethics Skill Level: AICPA Critical Thinking 3. Lying can violate a duty of loyalty that an employer owes to its employees. ANSWER: T PAGE: 47 TYPE: = MISC: AACSB Ethics Skill Level: AICPA Critical Thinking 4. Business ethics applies only to corporations. 17 18 TEST BANK TO ACCOMPANY BUSINESS LAW TODAY: THE ESSENTIALS ANSWER: F PAGE: 47 TYPE: N MISC: AACSB Ethics Skill Level: AICPA Risk Analysis 5. Corporate decisions affect only those who own, operate, or work for the firm. ANSWER: F PAGE: 47 TYPE: N MISC: AACSB Ethics Skill Level: AICPA Risk Analysis CHAPTER 2: ETHICS AND BUSINESS DECISION MAKING 19 6. Managements behavior sets the ethical tone of a firm. ANSWER: T PAGE: 48 TYPE: + MISC: AACSB Ethics Skill Level: AICPA Risk Analysis 7. Setting realistic workplace goals can reduce the probability that employees will act unethically. ANSWER: T PAGE: 49 TYPE: = MISC: AACSB Ethics Skill Level: AICPA Risk Analysis 8. Corporate ethical policies must be integrated throughout the firm to be effective. ANSWER: T PAGE: 52 TYPE: N MISC: AACSB Ethics Skill Level: AICPA Risk Analysis 9. An ethical issue involving conflicting duties can only be resolved by estab- lishing which duties take priority over others. ANSWER: T PAGE: 52 TYPE: = MISC: AACSB Ethics Skill Level: AICPA Critical Thinking 10. Management constantly faces ethical trade-offs. ANSWER: T PAGE: 52 TYPE: N MISC: AACSB Ethics Skill Level: AICPA Risk Analysis 11. A choice benefiting one of several groups to whom a firm owes ethical duties may adversely affect another group. ANSWER: T PAGE: 52 TYPE: = MISC: AACSB Ethics Skill Level: AICPA Critical Thinking 20 TEST BANK TO ACCOMPANY BUSINESS LAW TODAY: THE ESSENTIALS 12. Corporations owe ethical duties to their shareholders and their employees. ANSWER: T PAGE: 55 TYPE: = MISC: AACSB Ethics Skill Level: AICPA Critical Thinking 13. The minimal acceptable standard for ethical behavior is compliance with the law. ANSWER: T PAGE: 55 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Critical Thinking CHAPTER 2: ETHICS AND BUSINESS DECISION MAKING 21 14. An action may be legal but not ethical....
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Ch02-TB-BLTE-8e - Chapter 2 Ethics and Business Decision...

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