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5.03 Ethics Flashcards | StudBud
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5.03 Ethics
5.03 Ethics
20 terms
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StudBud Administration
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In this section we will learn about business ethics.
Flashcards
20 cards
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Questions
20
Answers
1
A financial adviser receives a bonus for selling a certain mutual fund. Their reason is:
is acceptable in foreign cultures
benefits the community
it's acceptable within the industry
it is committed by unethical employees
2
Which of the following is a true statement about business ethics and the law:
everything that is illegal is also unethical
the two are not the same thing, but they do overlap
everything that is unethical is illegal
The two have nothing to do with each other
3
Which of the following is an example of increased financial risk for a company with poor ethics
increased productivity
decreased company value
increased sales
decreased labor costs
4
Understanding business ethics can be difficult since:
many people aren't sure how to behave ethically
it is a relatively new field of study
there are no industry-specific ethical codes
it involves a lot of technical terms
5
A business with poor ethics causes internal problems for itself by:
increasing customer loyalty
decreasing productivity
decreasing financial risk
improving its public image
6
Which of the following is one of the four pillars of a business's social responsibility:
media responsibility
economic responsibility
universal responsibility
political responsibility
7
A business suddenly moves its operations to a new town, leaving its current employees jobless.
it doesn't hurt anyone
it benefits the community
it is not illegal
it is committed by unethical employees
8
Unethical business practices may lower a company's stock prices because:
the government fines unethical companies
unethical companies usually go bankrupt
investors prefer companies they perceive to be ethical
employees resign from unethical companies
9
A business's ethics determine weather or not an action is acceptable for that business. Because
it has a negative impact on others
contributes to the business's profitability
affects the environment
is illegal
10
One difference between business ethics and the law is that business ethics:
must be published
are often unwritten
are easy to determine
are enforced by government
11
Which of the following is a true statement about breaking the law:
it is acceptable inmost industries
it is necessary for business success
it will make a company more popular
it may have different consequences than breaching ethics
12
You decide not to take a certain action because you know it's the wrong thing to do. This is:
regulations
ethics
peers
laws
13
Some people believe that a business's only true ethical obligation is to:
provide jobs
make money
contribute to charity
protect the environment
14
Why should a business practice good ethics:
the government will fine an unethical business
an unethical business will go bankrupt
an ethical business contributes toward its own success
an ethical business makes more money than its competitors
15
Which of the following is an example of a business's ethical obligation to its stakeholders:
sharing trade secrets within its industry
doubling investors' money withing two years
allowing the competition to succeed
providing safe working environments for employees
16
Which of the following is a true statement about ethical business practices:
they are more difficult to undertake than unethical ones
they are more difficult to undertake than an unethical one
they are all under government regulations
they do not guarantee positive outcomes
17
A business with poor ethics is likely to:
lose customers
avoid fines
decrease its financial risk
beat the competition
18
A large tech company donates a portion of its proceeds to charity. This is an example of:
economic responsibility
philanthropic responsibility
legal responsibility
ethical responaibility
19
Which of the following is a potential consequence of poor business ethics:
increased customer loyalty
reduced risk of lawsuits
decreased internal problems
negative public image
20
A company goes bankrupt because of its unethical accounting practices. This is the result of:
not illegal
unethical employees
acceptable within the industry
acceptable in a foreign culture