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Midterm Exam Review BUS 100 Flashcards | StudBud
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Midterm Exam Review BUS 100
Midterm Exam Review BUS 100
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Answers
1
Public policy tools involve a combination of
incentives and penalties.
political favors and prison terms.
penalties and prison terms.
incentives and political favors.
2
How are board members (directors) selected?
Shareholders elect the directors from a list of candidates.
The nominating committee elects the directors.
The company’s CEO appoints the directors.
Investors with the greatest ownership in the company become directors.
3
Personal values and moral character play key roles in improving a company's ethical performance.
True
False
4
How many stages of Moral Development and Ethical Reasoning?
4
3
8
6
5
Being socially responsible means that a company must abandon its other missions.
False
True
6
Growth of technologies that facilitate the sharing of information, which kind of stakeholder power has become important?
legal power
economic power
informational power
political power
7
Corporate citizenship refers to a set of beliefs stating that socially responsible behavior is a good idea.
True
False
8
Laws aimed at protecting consumers, the environment, and workers are collectively known as
the social network.
social regulations.
economic regulations.
the social contract.
9
The fiduciary duty of managers benefits a firm's
shareholders
All of these choices are correct.
employees.
customers
10
Select all the Ethical Criterias
Egoism
Self-Interest
Principle
Benevolence
11
Honesty, integrity, and accuracy are absolute requirements of the accounting function.
True
False
12
The information strategy tool most used by business is
political contributions.
legal challenges.
political lobbying.
direct communication.
13
A nonmarket stakeholder of business is exemplified by which of the following?
nongovernmental organizations
customers
shareholders
creditors
14
Which are the methods of Ethical Reasoning ?
Values
Utilitarian
Rights
All the above
Virtues
Justice
15
Which is not a Business Strategy for influencing the government ?
Information Strategy
Monetary-Incentives Strategy
Financial- Incentives Strategy
Constituency-building Strategy
16
In the issue management process, identifying the issue involves anticipating emerging issues.
False
True
17
When something stands out from a background, is seen as important, or draws attention it is
powerful.
salient.
legitimate.
urgent.
18
Which politicalaction strategy seeks to gain support from other affected organizations to better influence policymakers?
financial-incentive strategy
lobbying strategy
constituency-building strategy
information strategy
19
A test to determine if the benefits of regulation are worth its costs is called a
say-on-pay assessment.
root cause analysis.
cost–benefit analysis.
monetary policy tool.
20
A common tactic in a financial-incentive political strategy is
political contributions.
political lobbying.
expert witness testimony.
legal challenges.
21
All of the following are external stakeholders of the firm
except
shareholders.
managers.
suppliers.
customers.
22
For stakeholder engagement to occur both the business and the stakeholder must be motivated to work to solve the problem
False
True
23
Public policies and government regulations are shaped by
business.
All of these choices are correct.
special interest groups.
government.
24
Investors may receive an economic benefit from the ownership of stock by receiving
capital gains.
dividends.
interest.
Both “dividends” and “capital gains” are correct.
25
A legal right of shareholders is
to vote on the next chief executive officer (CEO).
to publish annual financial reports.
to receive interest, if declared.
to vote for members of the board of directors.
26
A stakeholder analysis
All of these choices are correct.
involves understanding the nature of stakeholder interests.
creates equality among all stakeholder interests.
allows managers to examine two primary questions.
27
Businesses’ understanding of government regulations is
primarily an international issue.
both a domestic and an international issue.
only an issue for multinational firms.
primarily a local domestic issue.
28
A plan of action taken by government to achieve purpose affecting a substantial segment of a nation’s citizens is called
common laws.
fiscal policy.
public goods.
public policy.
29
Ethics are primarily based on religious beliefs.
False
True
30
Business must develop its own definition of what is right and wrong, apart from ethics.
False
True
31
The instrumental argument states that stakeholder management is
determined by the amount of stock issued.
a more realistic description of how companies really work.
simply the right thing to do.
more effective as a corporate strategy.
