Mann_BLRB 9_TB_Ch02

Business Law and the Regulation of Business

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Chapter 2—Business Ethics TRUE/FALSE 1. Ethics can be defined broadly as the study of what is good or right for human beings. ANS: T MSC: AACSB Ethics | AACSB Analytic 2. Like legal analyses, analyses of ethics have a central authority and follow clear-cut, universal stand- ards. ANS: F MSC: AACSB Ethics | AACSB Analytic 3. Business ethics, the study and determination of what is right and good in business settings, has a spe- cial set of ethical principles that applies only to the world of business. ANS: F MSC: AACSB Ethics | AACSB Analytic 4. Everything that is legal is also morally correct. ANS: F MSC: AACSB Ethics | AACSB Analytic 5. An ethical relativist looks to a central authority, such as the Bible, to guide her in ethical decision mak- ing. ANS: F MSC: AACSB Ethics | AACSB Analytic 6. It is possible for legal acts to be immoral. ANS: T MSC: AACSB Ethics | AACSB Analytic 7. Situational ethics, unlike ethical relativism, judges a person's ethics, but first looks at the decision or act from the perspective of the actor. ANS: T MSC: AACSB Ethics | AACSB Analytic 8. Jeremy Bentham was a proponent of utilitarianism. ANS: T MSC: AACSB Ethics | AACSB Analytic 9. A person who believes in the situational ethics theory would agree that precise guidelines for business behavior must be developed and adhered to by business professionals. ANS: F MSC: AACSB Ethics | AACSB Analytic 10. A leading proponent of the utilitarian approach to ethics was the eighteenth century philosopher Im- manuel Kant. ANS: F MSC: AACSB Ethics | AACSB Analytic 11. Deontologists are criticized for rigidity and excessive formalism.
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ANS: T MSC: AACSB Ethics | AACSB Analytic 12. Intuitionism holds that rational persons possess inherent powers to assess the correctness of actions. ANS: T MSC: AACSB Ethics | AACSB Analytic 13. Kant's philosophy rejects the idea that the end justifies the means. . ANS: T MSC: AACSB Ethics | AACSB Analytic 14. Harvard philosopher John Rawls stressed liberty as the most important obligation owed by a society to its members. ANS: F MSC: AACSB Ethics | AACSB Analytic 15. To a libertarian, it is not unjust for some people to accumulate fortunes while others live in poverty. ANS: T MSC: AACSB Ethics | AACSB Analytic 16. Although corporations are not persons but artificial entities created by the state, it is clear that they can and should be held morally accountable. . ANS: F MSC: AACSB Ethics | AACSB Analytic 17. Act utilitarianism supports rules that, on balance, produce the greatest good. ANS: F MSC: AACSB Ethics | AACSB Analytic 18. According to Milton Friedman, the social obligation of a corporation is to return as much money as possible to its shareholders. ANS: T
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Mann_BLRB 9_TB_Ch02 - Chapter 2-Business Ethics TRUE/FALSE...

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