Bus. Ethics Ch. 4
Which of the following is not a provision of the Sarbanes-Oxley Act? A. Strengthens penalties for corporate fraud B. Discourages the creation of ethical and legal compliance programs C. Requires codes of ethics for financial reporting in corporations D. Makes fraudulent financial reporting a criminal offense E. Requires greater transparency in financial reporting
B. Discourages the creation of ethical and legal compliance programs
Which is not one of the four sources of criminal and civil laws cited in your text? A. Zoological law B. Common law C. Constitutional law D. Administrative law E. Statutory law
A. Zoological law
Which of the following provide incentives for developing core practices within a firm that could help ensure ethical and legal compliance? A. DOJ and OCEG Act B. DOJ and Sarbanes-Oxley Act C. FSGO and Sarbanes-Oxley Act D. DOS and Sarbanes-Oxley Act E. SEC and Sarbanes-Oxley Act
C. FSGO and Sarbanes-Oxley Act
Which of the following exempted the insurance industry from antitrust legislation? A. Equal Pay Act of 1963 B. Civil Rights Act of 1964 C. McCarran-Ferguson Act of 1944 D. Sherman Antitrust Act of 1890 E. Occupational Safety and Health Act of 1970
C. McCarran-Ferguson Act of 1944
____ law defines the rights and duties of individuals and organizations (including businesses).
Civil
Which of the following can be classified as procompetitive legislation? A. Equal Pay Act of 1963 B. Civil Rights Act of 1964 C. McCarran-Ferguson Act of 1944 D. Sherman Antitrust Act of 1890 E. Occupational Safety and Health Act of 1970
D. Sherman Antitrust Act of 1890
Which of the following is not considered a gatekeeper as it relates to the financial meltdown of 2008-2009? A. Accountants B. Lawyers C. Financial rating companies D. Financial reporting agencies E. All of these are gatekeepers.
E. All of these are gatekeepers.
The key elements of an organizational culture include A. values. B. norms. C. artifacts. D. organizational behavior. E. All of these are key elements of an organizational culture.
E. All of these are key elements of an organizational culture.
Which of the following is not a law protecting the environment? A. Clean Air Act B. National Environmental Policy Act C. Federal Water Pollution Act D. Toxic Substances Control Act E. Occupational Safety and Health Act
E. Occupational Safety and Health Act
Which of the following, passed in response to public outrage over conditions described in Upton Sinclair's The Jungle, was the first consumer protection legislation? A. Civil Rights Act of 1964 B. Sherman Antitrust Act of 1890 C. Magnuson-Moss Warranty Act of 1974 D. Consumer Product Safety Act of 1972 E. Pure Food and Drug Act of 1906
E. Pure Food and Drug Act of 1906
Passed by Congress in 1991, the ____ created incentives for organizations to develop and implement ethical compliance programs
Federal Sentencing Guidelines for Organizations
The Sarbanes-Oxley Act created the ____ to oversee the accounting firms that audit public corporations and to establish rules and standards for auditing.
Public Company Accounting Oversight Board
Of the laws promoting equity and safety in the workplace, which is probably the most important to business?
Title VII of the Civil Rights Act
Laws and regulations change over time; however, in the U.S. the thrust of most business legislation can be summed up as
any practice is permitted that does not substantially lessen or reduce competition and harm consumers or society.
By prohibiting accounting firms from providing both auditing and consulting services to the same corporate clients without permission, the Sarbanes-Oxley Act is attempting to eliminate
conflicts of interest
The primary objective of U.S. antitrust laws is to
distinguish competitive strategies that enhance consumer welfare from those that reduce it.
The primary methods for resolving conflicts and serious business ethics disputes is through
lawsuits using civil laws.
The disposal of computer hardware is an ethical issue related to laws
protecting the environment.
