Business Ethics and Points Question free essay sample

A group of young professionals were discussing the relationship between law and business. Adam argues that law primarily benefits the owners of businesses at the expense of workers and customers, while Beth takes the opposite position that law primarily benefits the individual employees, customers and others, at the expense of the owners of businesses. Charlie posits that all parties are better off because of the presence of law, while David asserts that law is not a significant factor in the conduct of business. Based on your text, which persons view is most accurate? Answer A. Adam B. Beth C. Charlie D. David . 10 points Question 2 Which of the following is NOT true about law? Answer A. Law should be demonstrably fair to all concerned. B. Law should accurately reflect the beliefs of the majority of citizens. C. Neither of the above is true D. Both of the above are true . 10 points Question 3 When faced with the possibility of wrongdoing, which of the following is most appropriate? Answer A. We will write a custom essay sample on Business Ethics and Points Question or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When you first hear of an issue, immediately appoint a board to investigate it, incorporating board members from other work areas, from other geographical sites, and from H. R. B. Bring in outside experts if an internal investigation is to be conducted. C. Bring in the outside experts, but never conduct any preliminary inquiries, because that would taint the investigation process. D. Conduct the preliminary investigation, then if additional information substantiates the rumors and an internal investigation is to be conducted, bring in outside experts. . 10 points Question 4 Which of the following is the best example of an ethical act? Answer A. Passing a law that guarantees that employees will be paid a living wage that is higher than the federal minimum wage. B. Doing something that you sincerely believe is the right thing to do even if it does not benefit you personally is an example of an ethical act. C. Considering the impact on and perspectives of all significant stakeholders before making a decision. D. All the above are equally good examples of ethical acts. . 10 points Question 5 If a proposed action is legal but does not maximize shareholder value, should the action be taken anyway? Answer A. Yes. B. Take the action if it would unethical to refrain from taking the action. C. Take the action if it is an ethical action. D. No. . 10 points Question 6 Which of the following is most correct about how law in various countries relates to corporate governance? Answer A. Countries have arrived at a consensus of how the interests of various business stakeholders should be balanced, resulting in the direct facilitation of international trade and finance. B. Industrialized countries do not have public policy regarding laws that impact business, relying instead on the free market to regulate business behaviors. C. Much of the current debate on what constitutes good corporate governance turns on how much weight to give to the interests of shareholders, debtholders, employees, customers and suppliers, and to the protection of the environment. D. Both A and B are true. . 10 points Question 7 Which of the following best describes how law and ethics are related? Answer a. The law does not prohibit all bad behavior. An action that is unethical will nonetheless be illegal. b. The law does not prohibit all bad behavior. An action that is illegal may nonetheless be ethical. c. The law does not prohibit all bad behavior. An action that is unethical may nonetheless be legal. d. The law does not prohibit all bad behavior. An action that is unethical will nonetheless not be illegal. . 10 points Question 8 Acme corporations manufacturing plant was discovered to be pouring toxic waste into a creek that flows to a large river. The Environmental Protection Agency fined the corporation one million dollars. Which of the following is true about this fine? Answer A. It will not punish the wrongdoer(s). B. It will punish the wrongdoers because it will be paid by the parties who caused the toxic pollution. C. It will punish the wrongdoers because it will reduce the value of the stockholders shares, and they own the company. D. Both B and C are correct. . 10 points Question 9 Which of the following is a topic considered in discussions of corporate social responsibility? Answer A. Product Safety B. Targeted Advertising C. Conflicts of Interest D. All of the above. . 10 points Question 10 The ethical test of Do unto others as you would have them do unto you is an illustration of which ethical theory? Answer A. Teleological School of Ethics B. Utilitarianism C. Reversibility D. Universalizability