BUSAD 120 - Business Law » Winter 2024 » Worksheet 03.1 Ethics and the Role of Business

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Question #1
Ethics can be defined as the study of ___
A.   the voluntary exchange of goods or services
B.   what constitute right and wrong behavior
C.   what is most beneficial to all of society
D.   what harms the economy the least
Question #2
The Dodd-Frank Wall Street Reform and Consumer Protection Act was passed in response to Wall Street's ethical lapses and abusive financial services practices.
A.   FALSE
B.   TRUE
Question #3
The Sarbanes-Oxley Act was designed to do which of the following?
A.   Regulate shareholder dividend maximums. Provide refunds to bank customers for overdraft fees. Regulate corporate profits
B.   Regulate corporate profits. Regulate shareholder dividend maximums. Reduce corporate fraud
C.   Reduce corporate fraud. Require accountability measures for publicly traded companies. Create confidential systems for fraud reporting within a publicly traded company
D.   Provide refunds to bank customers for overdraft fees. Require accountability measures for publicly traded companies. Regulate shareholder dividend maximums
Question #4
Compliance with the law is sometimes called the ___
A.   moral minimum
B.   best ethical standard
C.   highest ethical standard
Question #5
Every public corporation is required to have an ethical hotline for reporting violations within the company.
A.   FALSE
B.   TRUE
Question #6
A triple bottom line considers each of the following, except:
A.   the corporation's impact on the planet.
B.   the corporation's resource allocation.
C.   the corporation's impact on people.
D.   the corporation's profits.
Question #7
A company may be sanctioned by a regulatory body as a result of certain ethical breaches by one or more of its employees.
A.   TRUE
B.   FALSE
Question #8
To make a decision resulting in good corporate citizenship, a business should evaluate the decision based on: the ______ implications of each decision; the _____ impact; the safety risks for ______ and employees; and the financial ______.
A.   legal, public relations, consumers, implications
B.   bottom line, ethical, workers, loses
C.   resource, profit, vendors, profits
D.   resource, ethical, vendors, profits

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