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Intro to Business Chapter 4- Social Responsibility of Business and Government Flashcards | StudBud
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Intro to Business Chapter 4- Social Responsibility of Business and Government
Intro to Business Chapter 4- Social Responsibility of Business and Government
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1
In the US, Work safety standards are enforced by
WWJD
NFL
FBI
OSHA
2
If you write an original song, your work can be protected with a copyright
False
True
3
A tax that is based on the value of the land and buildings
Property
Engagement
Intellectual
Sales
4
Which of the following is not intellectual property?
trademarks
copyrights
ideas
patents
5
the Age Discrimination in Employment Act protects all people aged what and older from employers
50
40
60
30
6
Which of the following would NOT be considered a utility company?
electric company
a gas station
water works company
a telephone company
7
A valid contract must contain____: an offer must be made and accepted
agreement
samples
money
dialogue
8
Antitrust laws protect consumers from all of the following except
products being outdated too quickly
misleading labeling
False advertising
deceptive packaging
9
The largest source of revenue for the federal government is the
corporate income tax
luxury tax
individual income tax
inheritience tax
10
Property tax revenue is used to pay for all of the following except?
police protection
community parks
schools
Medicare
11
Which question should you NOT ask yourself when considering the ethics of a situation?
Who is affected by the action?
Does this violate professional standards?
How will it impact you?
Is this action legal?
12
Suppose one company owned all the grocery stores in your state. This situation would be called
Monopoly
Cartel
Mafia
Union
13
Top Management has little impact on the ethical conduct of a business
True
False
14
If a company has a code of ethics
all of the above
employees will always know how to behave
the company can identify proper behavior
it will be worded to stress forbidden actions
15
Socially responsible actions benefit employees while costing the company nothing
True
False
16
___ are principles of morality or rules of conduct
Ethics
Traditions
Customs
Cultures
17
A state or local tax on goods and services that is collected by the seller is called?
thumb tacks
sales tax
property tax
income tax
18
Government plays a role in all economic systems
False
True
19
Which of the following would be considered a utility company
school
lawn service
electric company
gas company
20
Saving Scarce resources is called
conversation
anticoagulation
conservation
constipation
21
All of the following are non-renewable except
coal
oil
lumber
gas
22
Information the government collects can help decide where potential customers live
True
False
23
A public utility company is a company that is owned by the government
False
True
24
Government is mainly concerned with all of the following except?
Making a profit
Regulating utilities
hiring public employees
providing services to citizens
25
Valid, enforceable contracts must contain
A contract does not have any required elements.
agreement, competent parties, consideration, legality
agreement, legality, code of ethics, trademarks
agreement, competent parties, public utility, patent
26
In the U.S., police and fire protection is usually provided by
state government
large corporations
federal government
local government
27
Government borrow money by selling
stocks
ALL OF THE ABOVE
bonds
promissory notes