Ethics and Business Exam Bank
Course Introduction
This course explores the fundamental principles and dilemmas of ethics within a business context, examining the responsibilities of individuals and organizations in making morally sound decisions. Students will analyze real-world cases to understand topics such as corporate social responsibility, stakeholder theory, ethical leadership, and the role of ethical frameworks in guiding business practices. By integrating philosophical concepts with practical applications, the course aims to develop critical thinking and decision-making skills necessary for ethical conduct in diverse and global business environments.
Recommended Textbook
Business Its Legal Ethical and Global Environment 10th Edition by Marianne M. Jennings
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21 Chapters
2597 Verified Questions
2597 Flashcards
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Page 2
Chapter 1: Introduction to Law
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108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/77056
Sample Questions
Q1) For each of the following actions, describe the sources of law the individuals should consult:
a. obtaining a bicycle license
b. incorporating a company
c. determining how many feet of set back are required for residential construction
d. selling securities on a national exchange
Answer: a. ordinances
b. state law
c. ordinances
d. federal statutory law - U.S.C. and SEC regulations, C.F.R.
Q2) There are agency regulations at both the state and federal levels.
A)True
B)False Answer: True
Q3) The United States Code includes laws on anticompetitive activities as well as laws regulating the sale of securities.
A)True
B)False Answer: True
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Page 3
Chapter 2: Business Ethics and Social Responsibility
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) Natural law and positive law are one and the same theories of moral standards.
A)True
B)False Answer: False
Q2) Conflicts of interest can result in the use of quid pro quo.
A)True
B)False Answer: True
Q3) Ethics are key to the success of economic systems.
A)True
B)False Answer: True
Q4) A company that self-reports a legal violation risks a higher penalty.
A)True
B)False Answer: False
Q5) The level of cheating in high schools and colleges is declining.
A)True
B)False
Answer: False
Page 4
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Chapter 3: The Judicial System
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121 Verified Questions
121 Flashcards
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Sample Questions
Q1) During the criminal trial for former Governor Fife Symington of Arizona, an elderly member of the jury told the judge that she felt pressured by the other jurors to find him guilty. The judge removed the woman from the jury and Governor Symington was convicted. Which of the following describes the likely result if the governor appeals?
A) There is no reversible error because jury deliberations are not part of the trial or evidence.
B) There is a reversible error because of the possible prejudice to the governor in the dismissal of the juror.
C) Appellate courts cannot reverse on questions about jury deliberations.
D) There can be no reversal of the case absent some error in testimony or jury instructions.
E) none of the above
Answer: B
Q2) At the U.S. Court of Appeals:
A) there is a trial by jury.
B) there are three judges.
C) witnesses are permitted to testify.
D) all of the above
Answer: B
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Page 5
Chapter 4: Managing Disputes: Alternative Dispute
Resolution and Litigation Strategies
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138 Verified Questions
138 Flashcards
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Sample Questions
Q1) When is a motion for a judgment NOV granted?
A) after the plaintiff has presented its case
B) when the weight of the evidence is contrary to the jury's verdict
C) when the pleadings of the plaintiff are insufficient to state a cause of action
D) none of the above
Q2) The standard for admitting expert testimony in a trial is:
A) the judge must find the expert is reliable.
B) the judge must fine that the expert's testimony is relevant.
C) all expert testimony is admitted.
D) both a and b
Q3) The International Chamber of Commerce (ICC) is a private court.
A)True
B)False
Q4) A lawsuit begins with the filing of a complaint or petition.
A)True
B)False
Q5) Interrogatories must be answered in writing and under oath.
A)True
B)False
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Chapter 5: Business and the Constitution
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) States have authority over international commerce that comes within their borders and can circumvent U.S. treaties.
A)True
B)False
Q2) The state of Arizona follows a merit review process of proposed securities offerings. The Securities Division reviews proposed offerings to look for problems with fraud. This review is done in addition to the SEC review at the federal level. The state regulators have recently issued an interpretation that provides the state can stop all stock offerings of any firms doing business in Arizona - even if the stock will not be sold to Arizona residents. Can the regulators constitutionally exercise this power?
Q3) To be constitutional, federal statutes regulating commerce within a state must involve some economic activity.
A)True B)False
Q4) The executive branch of the federal government has no enforcement authority. A)True B)False
Q5) Discuss the ruling and the importance of Citizen's United.
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Chapter 6: Administrative Law
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137 Verified Questions
137 Flashcards
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Sample Questions
Q1) Benzene is a colorless, aromatic liquid used in manufacturing a variety of products including motor fuels, solvents, detergents, pesticides, and other organic materials. Benzene is a toxic substance and rapid inhalation can be fatal. Exposure has also been shown to lead to various types of nonmalignant diseases such as blood disorders (including leukemia).
OSHA passed a regulation limiting maximum benzene exposure for employees. OSHA set a 1 ppm maximum, even though the medical evidence only discussed exposures at 10 ppm and more. The petroleum industry wishes to challenge the regulation. Can they do so? On what basis?
Q2) Inspections by administrative agencies require a search warrant unless the business owner gives permission.
A)True
B)False
Q3) An ultra vires challenge is a challenge of the agency's jurisdictional authority on a rule.
A)True
B)False
Q4) Why is the Code of Federal Regulations not solely online to save money and time?
Q5) Discuss the Administrative Procedures Act and its amendments and purpose.
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Chapter 7: International Law
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93 Flashcards
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Sample Questions
Q1) What is the purpose of the LESCANT factors?
A) To deal with issues beyond the law when doing business in other countries.
B) To control tariff imports and exports.
C) To establish a uniform system of international contract laws.
D) To eliminate grease payments.
E) none of the above
Q2) MFN stands for most favored nation status under GATT.
A)True
B)False
Q3) The U.S. antitrust laws apply only to U.S. firms.
A)True
B)False
Q4) The U.S. courts can be used by citizens of foreign countries to recover for injuries occurring in their countries at the hands of U.S. companies.
A)True
B)False
Q5) Expropriation is prohibited in countries that are members of the United Nations.
A)True
B)False
Q6) Why are pirates so difficult to prosecute?
Page 9
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Chapter 8: Business Crime
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Jason Ormand was arrested on suspicion of sexual assault. The arresting officers did not give Jason his Miranda warnings. Jason confesses to the assault. The DNA evidence taken from the victim shows with 99% certainty that Jason was her attacker.
A) Because of the violation of Jason's rights in the officers' failure to give the Miranda warnings, the case must be dismissed.
B) The case can still proceed with the DNA evidence.
C) The case can proceed but only with the victim's testimony.
D) none of the above
Q2) The crime Mr. Parnell is charged with is shipping contaminated food. What would the federal government have to show in its case to establish the crime?
A) That Mr. Parnell did the actual shipping of the product.
B) That Mr. Parnell saw the actual product before it was shipped.
C) That Mr. Parnell knew that the product was contaminated before shipment occurred.
D) all of the above
Q3) The exceptions for obtaining warrants include evidence in "plain view."
A)True
B)False
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Page 10
Chapter 9: Business Torts
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) Galley, Inc. has a contract for operating the kitchen at the Palm Crest Hotel in Miami, Florida. Mealco has approached Palm Crest's director of operations and stated, "Look, sign with us. We'll take care of whatever damages you owe Galley." Mealco's statements: A) are defamatory.
B) constitute the tort of contract interference.
C) constitute the tort of negligence.
D) none of the above
Q2) Posting false information about a person to an Internet blog would be publication.
A)True
B)False
Q3) Assumption of risk is not a defense unless there was full information prior to the risk being assumed.
A)True B)False
Q4) Comparative negligence reduces the plaintiff's recovery. A)True
B)False
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11
Chapter 10: Cyberlaw, Social Media, and Privacy
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62 Verified Questions
62 Flashcards
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Sample Questions
Q1) Employer monitoring of employee e-mail is illegal.
A)True
B)False
Q2) The employer practice of "Googling" job applicants is not prohibited by federal law.
A)True
B)False
Q3) Employers are responsible when employees use their computers to infringe on others' intellectual property rights.
A)True
B)False
Q4) The privacy rights of cloud customers are clearly established.
A)True
B)False
Q5) Warrants are not required in cyberspace.
A)True
B)False
Q6) Servers are always required to reveal the identity of their customers and users.
A)True
B)False
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Chapter 11: Environmental Regulation and Sustainability
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Acid rain is:
A) sulfur dioxide pollution from factories.
B) not now regulated by the federal government.
C) not part of EPA enforcement plan.
D) only a problem outside the United States.
Q2) The EPA has developed three categories of water pollutants: conventional, international, and toxic pollutants.
A)True
B)False
Q3) The 1990 amendments to the Clean Air Act:
A) were vetoed by President Bush.
B) require additional antipollution equipment on cars.
C) failed to address the acid rain issue.
D) do not support alternative fuels.
Q4) Which of the following acts established the NPDES system?
A) Water Pollution Control Act of 1948
B) Water Quality Act
C) Rivers and Harbors Act
D) Federal Water Pollution Control Act of 1972
Q5) Explain the steps in due diligence.
Page 13
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Chapter 12: Contracts and Sales: Introduction and Formation
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) Abe and Gabriel entered into a contract for Abe to furnish landscaping services for Gabriel's office complex. The contract provides the fee will be $75 per month. At the time Gabriel signs the agreement, the two discuss the fact that the services required in the winter will be less and the fee will be reduced to $50 per month. Abe adds as Gabriel is signing, "I just forgot to put that sliding scale in this contract. Don't worry - I'll take care of it because we understand each other." Gabriel:
A) will be permitted to introduce evidence about the winter fee reduction.
B) will only need to pay $50 during the winter months.
C) will pay $75 per month every month because of parol evidence.
D) none of the above
Q2) The UCC rules on additional terms in acceptance are the same for merchants and nonmerchants.
A)True
B)False
Q3) "Drive my car to Albuquerque, and I'll pay you $500," is not a valid offer.
A)True
B)False
Q4) Name the statutes that affect contract formation in cyberspace.
Q5) Discuss what colleges and universities must do under CARD for their students.
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Chapter 13: Contracts: Performance, Remedies, and Rights
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) Undue influence requires the presence of:
A) a fiduciary relationship.
B) some threat or force.
C) a lack of capacity in the contracting party.
D) none of the above
Q2) Duress requires proof of physical force.
A)True
B)False
Q3) Which of the following statements would be a basis for claiming misrepresentation?
A) This car is a real honey.
B) This car has the finest road performance going.
C) This car has the fastest zero to 60 acceleration on the planet.
D) This car represents status.
E) All of the above could be a basis for misrepresentation.
Q4) Regulation Z provides the details of compliance with the Fair Credit Billing Act. A)True
B)False
Q5) List what cannot be disclosed in a credit report for a $2,000 loan.
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Chapter 14: Sales: Product Advertising and Liability
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138 Verified Questions
138 Flashcards
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Sample Questions
Q1) Restaurants have no liability for natural items such as bones in chicken that injure customers.
A)True
B)False
Q2) Which of the following is not an example of an express warranty?
A) "This jacket is lined."
B) "This water heater holds 50 gallons."
C) "This toothpaste makes teeth the whitest around."
D) "Preshrunk jeans."
Q3) A lack of adequate warnings can be a defective product.
A)True
B)False
Q4) "As is" written in a contract:
A) serves to disclaim the implied warranty of merchantability.
B) serves to disclaim the implied warranty of fitness for a particular purpose.
C) has no effect on warranty protection.
D) both a and b
E) none of the above
Q5) Discuss the ethics of Toyota delaying its recall on vehicles with sudden unintended acceleration problems.
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Chapter 15: Products: Business Intellectual Property
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95 Verified Questions
95 Flashcards
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Sample Questions
Q1) GATT requires patent protection for 50 years.
A)True
B)False
Q2) Which of the following is not an element of disparagement?
A) untrue statement
B) publication
C) damages
D) intent to injure
E) All of the above are elements.
Q3) At Anne's Beauty Emporium, Della operates a small storewithinastore in which she sells bags that appear to be designer Prada and Gucci handbags. The bags are priced at Della's at between $65 and $190 each. The price for the same Prada and Gucci bags in department stores would be between $325 and $900. Della is probably selling:
A) knock-off purses.
B) gray market purses.
C) counterfeit purses.
D) all of the above
Q4) Why are the terms "cellophane," "aspirin," and "thermos" generic? What changes a tradename or trademarked item to a generic term?
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Chapter 16: Business Competition: Antitrust
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159 Verified Questions
159 Flashcards
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Sample Questions
Q1) Which of the following is correct?
A) The merger proposed is a vertical one.
B) The merger proposed is a horizontal one.
C) The merger is simply an asset acquisition.
D) The merger is exempt under the failing company doctrine.
Q2) Corporate officers are not liable for violations of the Sherman Act.
A)True
B)False
Q3) Treble damages are recoverable for actions brought under:
A) the Sherman Act.
B) the FTC Act.
C) the Antitrust Improvements Act.
D) all of the above
Q4) Greg Rafft, president of the Tricounty Brokerage Association, addressed the members at a luncheon meeting. He suggested that the association purchase two of the area's top three title insurance firms. Are there any antitrust problems with such an acquisition?
Q5) Customer and territorial restrictions are per se antitrust violations.
A)True
B)False
18
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Chapter 17: Management of Employee Conduct: Agency
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Sample Questions
Q1) Which of these ends apparent authority?
A) Departure of the agent
B) Retirement of the agent
C) Termination of the agent
D) None of these
Q2) Firing an agent does not end apparent authority.
A)True
B)False
Q3) Express authority:
A) must be in writing.
B) can limit the agent's authority.
C) includes customary authority.
D) none of the above
Q4) If the act of an agent is ratified:
A) there is retroactive authority for the act.
B) the principal has agreed to allow the agent to be liable.
C) the agent then has express authority for that act in the future.
D) none of the above
Q5) What is the difference between implied authority and apparent authority?
Q6) Discuss the requirements for ending an agency relationship.
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Chapter 18: Governance and Structure: Forms of Doing Business
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138 Verified Questions
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Sample Questions
Q1) Pooling agreements are:
A) illegal as against public policy.
B) the same as voting trusts.
C) valid if filed with the corporation's secretary.
D) none of the above
Q2) The corporate veil can be pierced for inadequate capitalization.
A)True
B)False
Q3) Discuss investors' concerns regarding CEO compensation.
Q4) A Subchapter S or S Corporation is:
A) a special class of close corporation under the MBCA.
B) an IRS tax treatment option for corporations owned by a limited number of shareholders.
C) a not-for-profit corporation.
D) none of the above
Q5) A partnership by estoppel:
A) is the same as a partnership by implication.
B) results when third parties are led to believe a partnership exists.
C) is the same as a joint venture.
D) none of the above
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Chapter 19: Governance and Regulation: Securities Law
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152 Flashcards
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Sample Questions
Q1) Shareholders who solicit proxies need not comply with Section 14 of the 1934 Act.
A)True
B)False
Q2) Sarbanes-Oxley has special anti-retaliation protections for employees who raise questions about financial reports and internal accounting.
A)True
B)False
Q3) Black-out periods are timeframes in which trading by company employees is prohibited.
A)True
B)False
Q4) Sarbanes-Oxley requires all covered companies to have a code of ethics for financial officers.
A)True
B)False
Q5) A merit review standard is the same as the SEC review.
A)True
B)False
Q6) Describe shareholders' rights under Section 14.
Page 21
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Chapter 20: Management: Employee Welfare
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Sample Questions
Q1) Which of the following is an unfair labor practice?
A) stopping distribution of union flyers off company property during nonworking hours
B) work slowdown
C) strike
D) All of the above are unfair labor practices.
Q2) Enron employees had much of their retirement plan invested in Enron stock. One of the company's former employees has said, "There was something wrong with the way this whole thing was handled. There must be some federal law that gives us protection." Which federal statute covers such retirement plans?
A) Social Security Act
B) ERISA
C) OSHA
D) Taft-Hartley
E) none of the above
Q3) Unemployment benefits are paid regardless of whether the employee quit or was fired.
A)True
B)False
Q4) What protections does the Equal Pay Act provide?
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Chapter 21: Management: Employment Discrimination
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Sample Questions
Q1) Sexual harassment requires proof of physical contact.
A)True
B)False
Q2) Janice Cohen, an MBA graduate, was interviewing for an account executive position with an insurance company.
During the course of the interview she disclosed that her husband was in the PhD program in business at the local university. The interviewer then commented, "Well, I guess you won't be staying around here once he gets his PhD." Janice was not hired and a male with an undergraduate degree and no experience was hired for the position.
Discuss Janice's rights under Title VII.
Q3) The Ricci case held that the fear of litigation alone can justify an employer's reliance on race to discriminate against other qualified employees.
A)True
B)False
Q4) Under Title VII, employers cannot use aptitude tests.
A)True
B)False
Q5) List all the possible defenses to charges of discrimination.
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