business chapter 4

In the context of the frameworks developed by experts for reaching ethical decisions, which of the following is one of the key principles of most decision guides?

Are the alternative solutions legal?

Antonsen Inc., an accounting firm in Texas, follows certain guidelines while providing consulting services to a firm. One such guideline is to limit the services it provides to the firms it audits. The CEO of Antonsen Inc. is also required to certify the validity of the company's financial statements. In this scenario, Antonsen Inc. most likely abides by the requirements of the

Sarbanes-Oxley Act

In the context of social responsibility, a corporation that does not have profits as a first priority is referred to as a B-Corp, which stands for _____.

benefit corporation

Krempe Foods, a fast-food chain in Dallas, gives paramount importance to consumer feedback and has a well-established consumer feedback system. Given this information, it can be said that Krempe Foods supports _____.

consumerism

The nonprofit, nonpartisan Character Counts organization has worked with various group of educators and community leaders to establish a set of:

core ethical values that transcend political, religious, class, and ethnic divisions.

Jessica Marshall, the CEO of ABD Oil Drilling Inc., decides to set aside an amount of $10,000 from the company's annual profits to donate to local nonprofit organizations although the company already meets the mandated government requirement of contributing 4 percent of the company's revenue for social benefits. This donation by ABD Oil Drilling Inc. is an example of:

corporate philanthropy.

The employees of a multinational company follow a standardized and formal set of written guidelines that help them make right decisions in various situations. These guidelines have been translated into 20 languages and are followed by employees across all branches of the company. One of the guidelines is to include all supervisors in discussions regarding instances of violation of rules. In this scenario, the multinational company has:

created a code of ethics for its members.

A social audit is a systematic evaluation of the positive and negative views of the public about a business firm.

false

In the context of social responsibility, a corporation that does not have profits as a first priority is referred to as a D-Corp.

false

In the context of the legal and ethical dimensions of business conduct, practicing collusion with competitors is legal but unethical.

false

Sustainable development means weaving environmentalism throughout the business decision-making process.

false

the number-one goal of any business is to contribute to society.

false

In the context of codes of ethics, the purpose of a written code is to:

give employees the information they need to make ethical decisions across a range of situations.

The chairman of a welfare organization asks an employee to head a fundraising activity. The employee, however, embezzles $250,000 from the funds raised from the activity and falsifies financial records. In this scenario, the behavior of the employee is _____.

illegal and unethical

In the context of the legal and ethical dimensions of business conduct, rewarding integrity is an example of _____.

legal and ethical behavior

Universal ethical standards can solve the problem of too many people viewing ethics as _____.

relative

Rudolf, a Polish manager in a company based in China, is admired by his colleagues for the way he interacts with people, his considerate nature, and his tolerance toward other cultures. In the context of universal ethical standards, Rudolf possesses the core value of _____.

respect

The Canadian government issues a legal notice to one of its coal manufacturing companies after the government learns that the heating equipment purchased by the company emits a higher level of gases than the level permitted by the Environmental Protection Agency. In this scenario, the coal manufacturing company is in violation of exceeding the level of its _____ emissions.

scope 2

In the context of social responsibility, _____ include employees and investors who have a personal interest in the performance and actions of an organization.

stakeholders

Transparency International, a leading anti corruption organization, published its yearly index of "perceived corruption" across 168 countries in 2015. Its findings showed that:

the United States scored lesser than most of the European countries in the index of perceived corruption

The personal needs, the culture, and the family of an individual influence his or her ethical choices.

true