1) Social responsibility theories: a

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1) Social responsibility theories:
a. Are generally classified as modern ethical versions of Utilitarianism
b. Determine the moral worth of an action regardless of their consequences
c. Are largely precise legalistic formulations
d. Classify corporate social responsibility as typically the corporation engaging in community and civic affairs in a prudent manner.
 

2. When Ruby, the president of Interrelated Systems Corporation, is deciding what business action to take, an initial question is, like it is for most major companies today, whether the action ?
a. Ethical
b. Legal
c. Socially responsible
d. Likely to result in executive bonuses.
 

3. Being socially responsible legally requires a company to adhere to: ?
a. Kantian ethics
b. Moral Saint status
c. Business Hero status
d. None of the above.
 

1. Don is a manager with Engineering Aviation Systems. At a company ethics meeting, Don’s most effec­tive argument against utilitarianism is that it 
a. gives profits priority over costs.
b. ignores the practical costs of a given set of circumstances.
c. justifies human costs that many persons may find morally unacceptable.
d. requires cost-benefit analyses of simple situations.
 

2. Pat, product development manager for Agricultural Hybrids, Inc., applies Utilitarian ethics to determine that an action is morally correct when it produces 
a. The greatest good for Pat
b. The greatest good for the most people affected by the action
 

c. The greatest good for Pat’s company and its shareholders since they are the only true stakeholder groups
d. Good emotional feelings that arise in Pat
 

3. Roberto, the research manager for Agri-Products, Inc., applies Utilitarian ethics to determine that an action is morally correct when it produces ?
a. The greatest good for Roberto
b. The greatest good for the most people
c. The least good for the fewest people
d. The least good for the most people.
 

1. "Fundamental corporate change" consists of: 

a. Amending the articles of incorporation
b. Merging with another corporation
c. Dissolution and termination of the corporation
d. All of the above.

2. Which of the following is FALSE about U.S. securities laws? ?
a. The definition of a "security" is broadly construed by the courts.
b. Insider trading by an insider and by a tipee in conspiracy with an insider is illegal.
c. Trading on inside information by the "lucky" or the "smart" is always illegal since it is not fair to the other party who does not have the inside information.
d. Silence, that is, the failure to disclose material facts regarding the purchase or sale of a security is illegal.

3. Which of the following facts is the best evidence of the existence of a partnership relationship? 
a. Joint or common ownership of property
b. Sharing of gross returns of a business
c. Sharing of net profits of a business
d. Joint participation in a business activity

 

1. Ed borrows $1,000 from First State Bank. Fran, a good friend, orally promises the bank that she will repay the debt if Ed does not. The promise generally is enforceable by ?
a. Ed only.
b. Ed or First State Bank.
c. First State Bank only.
d. neither Ed nor First State Bank.
 

2. The major problem with the doctrine of ethical egoism is: 
a. Most people are shy and hesitant about seeking to fulfill their self-interest.
b. Most people are usually more interested in the welfare of other people than themselves.
c. The doctrine does not provide a mechanism to settle differences when egos clash.
d. If each person satisfies his or her self-interest, the general welfare will be served.
 

3. Pete, an employee of Quality Sales, Inc., takes a Kantian duty-based approach to ethics. Pete believes that he must ?
a. achieve the greatest good for the most people.
b. avoid unethical behavior as determined by reason regardless of the consequences.
c. conform to society’s standards.
d. place his employer’s interest first.
 

1. Mega Corporation engages in ethical behavior solely for the purpose of getting good publicity and thereby increasing profits. Mega is ?
a. Acting immorally in pursuit of profits
b. Acting unethically in the pursuit of good publicity
 

 

c. Acting unethically in setting its priorities
d. Not acting unethically if one is an ethical egoist.

2. Which statement is correct about the employment at-will doctrine in the United States? 
a. It has been abrogated by federal statute.
b. Employers can fire at-will, but by federal law they are required to pay severance based on employee pay and length of service.
c. It can result in a legal but immoral discharge.
d. It never applies to minorities since they cannot be discharged pursuant to the Civil Rights Act.

3. Which of the following is NOT an accurate statement about the Utilitarian ethical theory? ?
a. It determines the moral worth of an action based on the form of the action
b. It may allow the personal interests of individuals to be sacrificed so that the collective good be attained
c. It is usually regarded as a consequential list ethical theory
d. It determines the moral worth of an action by whether the action achieves the greatest overall balance of satisfaction over dissatisfaction.

4. Nobel Prize winner Professor Emeritus Milton Friedman would favor a corporate code of conduct that would: 
a. Maximize profits at all costs.
b. Maximize profits based on open and free competition.
c. Maximize profits as long as the corporation "plays within the rules" without fraud