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products being outdated too quickly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