ACCT2700 Ethics Exam

According to the view that New Allied Manufacturing Corporation is a "citizen," New Allied is expected to a. primarily generate revenue for its owners. b. efficiently allocate scarce resources. c. participate in bettering communities and society. d. have no responsibility other than profit maximization.

C

Precision Engineering Inc., like other corporations, is subject to laws that are broad in their purpose and their scope. Compliance with these laws is not always sufficient to determine "right" behavior because a. company codes are also sources of law. b. ethical problems occur in business. c. the law does not codify all ethical requirements. d. business decisions can have negative impacts.

C

A business that has never been burglarized helps the police solve the burglary problem in Auburn

Corporate Citizenship

An auto parts store having the responsibility to help with the problem of unwed moms and teenage pregnancy

Corporate Citizenship

to do well and solve social problems

Corporate Citizenship

Ridgeline Excavation & Construction, LLC, creates an internal code of ethics. Like the codes of other firms, Ridgeline's company code is not a. a set of rules that the company can enforce. b. a guide for decision makers facing ethical questions. c. an outline of the company's policies. d. law.

D

Looking to the Bible or Jesus

Ethical Fundamentalism

outside source for ethical reference

Ethical Fundamentalism

A football coach defending his players who rape women by saying the girls shouldn't hang out with those bad guys or dress the way they dress; if it feels good, do it

Ethical Relativism

decision based on their own feelings

Ethical Relativism

With respect to the potential for Great American Discount Stores, Inc., and any other major corporation to suffer damage to its reputation or loss of profits through negative publicity, the Internet has a. increased the potential. b. had no impact. c. allowed a company to keep negative information or opinions hidden. d. decreased the potential.

A

It is our obligation as citizens to volunteer and do work that does not benefit you but benefits others in order to help society

Raul's Social Justice

fairness based on implied justice

Rawl's Social Justice

True or False: If an action is legal, it is ethical.

False; law and ethics often coincide but law may permit certain behavior that seems unethical (permit pollution emissions that pose health risks) or demand certain conduct that seems unethical (prohibiting hiring illegal aliens; jobs that could assist destitute workers)

Allows bribery of those in foreign countries as long as the person being bribed is not a politician, political party official, or government official and bribery must be legal under local law

Foreign Corrupt Practice Act

You shouldn't ignore a contract that says to pay within 30 days and delay paying the vendor for 90 days because you wouldn't want someone to ignore your contract and do the same to you

Kantian Ethics

do unto others as you would have done unto you

Kantian Ethics

makes corporate officers personally responsible for the criminal acts of their employees working in the scope of their employment; also requires a country to publicly state their code of ethics

Sarbanes-Oxley Act

to maximize profits based on the interest of stakeholders

Stakeholder Interest

Shutting down a business leads to people losing their jobs, a loss of taxes which means unable to improve the community (roads, schools), cuts benefits (healthcare, insurance), suppliers lose customers, creditor loses money

Stakeholder interest

Dumping toxic waste in the love canal because nobody is using it anymore and ignoring the environmental effects

Maximizing Profits

Vanderbilt raising railroads by a nickel so the owner's can make a profit "the public be damned"

Maximizing Profits

sending a priest away that sexually assaults children because word gets out, people might stop attending or giving donations; ignoring right and wrong to maximize profits

Maximizing Profits

to maximize profits, without concern for anyone else

Maximizing Profits

A company compensates for a worker losing their arm while handling the company's machinery instead of purchasing safer machinery

Moral Minimum

Alabama Power Company getting spray paint on your car and paying you for the damage

Moral Minimum

to maximize profits while compensating for any damages caused in the pursuit of maximizing profits

Moral Minimum

True of False: The study of business ethics is concerned with the purposes of a business and how that business achieves those purposes.

True

True or False: Business ethics looks at the decisions that businesses make or have to make and whether those decisions are right or wrong.

True

True or False: Codes of ethical conduct can indicate how employees are expected to act.

True

True or False: Ethics is the study of what constitutes right and wrong behavior.

True

True or False: Focusing on short-term profits without considering the company's long-term needs may lead to unethical actions.

True

is no excuse to break the law

ignorance of the law

Businesses expend resources trying to solve social problems which means less money to pay employees and owners, to improve business, to take care of creditors, etc.

problem with Corporate Citizenship

You cannot compensate for the cancer deaths, stillbirths, and birth defects caused by the toxic waste in Love Canal

problem with moral minimum

Legal Responsibility of Business is

to follow the law

When do you put ethics above the law?

unfair to everyone in society not just you individually; don't do the crime you can't do the time or pay the fine

If a law is unjust, you should

work to change the law and see who is being advanced by the law as it is

Bill Gates- better for society for him to invest his money in businesses rather than taking his wealth and distributing it to everyone

Utilitarianism

greatest good for majority of society

Utilitarianism