Ethics in Management
Chapter Exam Questions
Course Introduction
Ethics in Management explores the foundational principles and practical applications of ethical decision-making within the business environment. The course examines ethical theories, moral philosophies, and frameworks for resolving conflicts of interest in organizational contexts. Students analyze real-life case studies, exploring topics such as corporate social responsibility, diversity and inclusion, stakeholder management, and the ethical implications of leadership and globalization. The objective is to develop critical thinking skills and ethical awareness, preparing students to navigate complex ethical dilemmas and promote integrity, transparency, and accountability in management roles.
Recommended Textbook
Business and Professional Ethics for Directors Executives and Accountants 8th Edition by Leonard
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8 Chapters
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Page 2
Chapter 1: Ethics Expectations
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Sample Questions
Q1) Incomplete disclosure of the company's revenue recognition policy is an example of A) lack of transparency.
B) lack of integrity.
C) lack of accuracy.
D) All of these are correct.
E) None of these are correct.
Answer: A
Q2) Ethical corporate behavior is expected to lead to
A) higher profitability in the short-term.
B) higher profitability both in the short-term and long-term.
C) lower profitability in the long-term.
D) higher profitability in the long-term.
E) lower profitability both in the short-term and long-term.
Answer: D
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Chapter 2: Ethics & Governance Scandals
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Sample Questions
Q1) The U.S. Internal Revenue Service (IRS) implemented Circular 230 to remedy problems found with regard to the marketing of tax shelters thought to
A) have no other purpose except to reduce taxes.
B) have lower than 50% chance of success if challenged by the IRS.
C) not be in accordance with client's needs.
D) create fictitious losses.
E) All of these are correct.
Answer: E
Q2) Freddie Mac and Fannie Mae
A) were created to support the U.S. housing market.
B) stimulated the U.S. Housing Bubble.
C) provided bailout funds to the U.S. Government.
D) acted in the best interest of consumers.
E) were created to support the U.S. housing market and stimulated the U.S. Housing Bubble.
Answer: E
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4
Chapter 3: Philosophers Contributions
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Q1) Minority rights may be violated under this approach:
A) deontology
B) distributive justice
C) utilitarianism
D) moral imagination
E) virtue ethics
Answer: C
Q2) Which theory is concerned with the motivation of the decision maker rather than the consequences of the decision?
A) deontology
B) distributive justice
C) utilitarianism
D) moral imagination
E) virtue ethics
Answer: A
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5
Chapter 4: Practical Ethical Decision Making
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Sample Questions
Q1) Pastin's approach adds which of the following concepts to stakeholder impact analysis?
A) rule ethics
B) ground rule ethics
C) end-point ethics
D) social contract ethics
E) All of these are correct.
Q2) Which of the following is NOT an example of a common ethical decision-making pitfall?
A) conforming to an unethical corporate culture
B) focusing only on legalities
C) conflicts of interests
D) failure to identify all stakeholder groups
E) None of these are correct.
Q3) Which of the following is NOT a stakeholder right?
A) life, health, and safety
B) to earn a reasonable return on an investment
C) freedom of speech
D) fair treatment before the law
E) All of these are stakeholder rights.
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Chapter 5: Corporate Ethical Governance & Accountability
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Sample Questions
Q1) Which of the following is NOT true?
A) Principles are more useful than rules because principles can be interpreted as new circumstances require.
B) Rules are more useful than principles because rules can be interpreted as new circumstances require.
C) A blend of principles and rules is often optimal.
D) Principles are more useful than rules, and a blend of principles and rules is often optimal.
E) All of these are correct.
Q2) Experience has revealed that, to be effective, a code must be reinforced by A) tone at the top.
B) an ethics officer and internal auditors.
C) a comprehensive ethical culture.
D) principles, rules and examples.
E) All of these are correct.
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Chapter 6: Professional Accounting in the Public Interest
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Q1) The adoption of which of following measures would reduce the expectations gap and lessen public misunderstanding of the auditor's role?
A) publishing a statement of management responsibility
B) the auditor reporting annually to the audit committee
C) expanding the audit report to clarify the auditor's role and the level of assurance
D) publishing a statement of management responsibility, and the auditor reporting annually to the audit committee
E) publishing a statement of management responsibility, and expanding the audit report to clarify the auditor's role and the level of assurance
Q2) If a professional accountant is auditing a public company and she receives company shares as payment for her audit services, she will be violating which of the following fundamental principles?
A) integrity
B) objectivity
C) professional due care
D) confidentiality
E) All of these are correct.
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Page 8
Chapter 7: Managing Ethics Risks & Opportunities
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Q1) Which of the following three performance categories are recommended for disclosure by the Global Reporting Initiative?
A) economic, environmental and organizational
B) environmental, financial and social
C) economic, organizational and social
D) environmental, financial and organizational
E) economic, environmental and social
Q2) Which need is at the top of Maslow's Hierarchy of Needs?
A) esteem
B) respect
C) fulfillment
D) safety
E) affinity
Q3) Most damage is usually done during which phase of a crisis?
A) pre-crisis
B) reputation restoration
C) controlled
D) uncontrolled
E) post-crisis
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Page 9
Chapter 8: Subprime Lending Fiasco Ethics Issues
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Sample Questions
Q1) Rating agencies were exposed to a conflict of interest because
A) credit rating agencies were rating securities and investing in those securities.
B) credit rating agencies used ratings to sell securities.
C) clients of the credit rating agencies used ratings to sell securities.
D) investors do not want rating downgrades.
E) credit rating agencies were paid by the firms who created the securities being rated.
Q2) Investors relied on the judgment of credit rating agencies because
A) credit rating agencies are supposed to be the experts in evaluating credit risk.
B) information directly available to investors on mortgage pools was insufficient.
C) credit rating agencies are supposed to perform a thorough due diligence before rating a given security.
D) credit rating agencies are supposed to be the experts in evaluating credit risk, and they are supposed to perform a thorough due diligence before rating a given security.
E) All of these are correct.
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