1. The employees of Abs “R” Us, which includes 12 fitness parlors in and around the metro area, feel
1. The employees of Abs “R” Us, which includes 12 fitness parlors in and around the metro area, feel
1. The employees of Abs “R” Us, which includes 12 fitnessparlors in and around the metro area, feel they can improvethe performance of the company. They decide to pool theirresources to purchase the company. This would be called a_______ buyout.A. leveraged C. negotiatedB. hostile D. management2. According to your text, our main sources of ethical standardsare religion andA. philosophy. C. culture.B. social habit. D. circumstances.3. It looks a lot like a corporation and can sell stock, but it’staxed like a partnership. This would be a/anA. S-corporation.B. master limited partnership.C. uniform liability partnership.D. limited partnership.4. Which statement about the Sarbanes-Oxley Act is true?A. It offers some protection to whistleblowers.B. It helps companies recycle paper.C. It defines whistleblowers but doesn’t protect them.D. Its stipulations apply to both publicly traded and private companies.5. According to the influential economist Milton Friedman, corporate social responsibility isprimarily based onA. meticulous care of the environment.B. making money for shareholders.C. repudiating insider trading.D. making safe, high-quality products for consumers.6. As derived from the Markkula Center for Applied Ethics, which of the following shouldbe one of eight guiding principles?A. Compliance with the law in every situationB. Doing good to those who deserve itC. Respect for propertyD. Preventing harm to others and to the world around us7. The major disadvantage of a sole proprietorship isA. having to make all the decisions.B. having to share profits with relatives.C. unlimited liability.D. finding people to assist you in areas where your skills are weak.8. In the world of business, a _______ is made up of a group of people or organizations whohave unsatisfied wants and needs and the resources to fulfill those wants and needs.A. market C. publicB. base D. resource9. You learn that your friend has cheated on a final exam. If you decide to follow yourtext’s five-step process for making ethical decisions in your personal life, your firststep will beA. gathering the facts.B. listing alternative responsibilities.C. recognizing that an ethical issue exists.D. reflecting on your options.Examination, Lesson 2 5710. Which of the following statements about the Revised Uniform Partnership Act is correct?A. It was established in 1902.B. I has been adopted in all U.S. states.C. It replaces the General Partnership Act of 1997.D. It’s a default agreement for establishing such things as how partners will divide profit.11. Respecting corporate social responsibility, Ronald McDonald Houses provides anexample of corporateA. activism. C. sociability.B. environmentalism. D. philanthropy.12. Because what is legal may not be ethical, we should base our moral decisions on_______ principles.A. universal C. effectiveB. practical D. social13. The residents of Littleton Township own the local hydroelectric generating plant. Theypay monthly fees for facility maintenance and service and share in revenues thatexceed operating costs on an annual basis. This sort of organization would best becharacterized as a/anA. acquisition. C. horizontal merger.B. cooperative. D. retail co-op.14. In any company, _______ must guide and inspire the implementation and enforcementof an ethics code.A. employees C. the courtsB. managerial leadership D. federal regulatory agencies15. According to the _______ approach as a basis for ethical standards, you’ll make anethical decision based on respecting and protecting the moral rights of those who willbe affected by your decision.A. rights C. virtueB. justice D. common-good16. The management of Flora-Delivery, Inc. runs 14 stores and advises and assistsowner-managers of 10 franchise operations. The stores directly run and managed byFlora-Delivery would be referred to as _______ stores.A. accessory C. companyB. affiliated D. proprietary58 Examination, Lesson 217. Which of the following is true about an S-corporation?A. It must offer at least two classes of stock.B. It’s created by the government.C. It’s taxed like any other corporation.D. It can have no more than 1,000 shareholders.18. A social _______ is a systematic evaluation of a company’s progress in implementingsocially responsible programs.A. inquiry C. programB. code D. audit19. Xerox has a program called Social _______ Leave that allows employees to take leavefor up to a year, at full pay and benefits, to work for a nonprofit organization.A. Action C. ServiceB. Response D. Share20. You’re in search of a type of company organization that provides limited liability,management flexibility, a choice of taxation schemes, and freedom from the hasslesof selling stock or holding annual meetings. You would almost certainly choose toorganize as a/anA. LLC company. C. C-corporation.B. S-corporation. D. partnership.21. A/An _______-based ethics code emphasizes preventing unlawful behavior throughcontrolling behavior and punishing wrongdoers.A. legal C. practicalB. compliance D. integrity22. Without doubt, the biggest disadvantage to franchising isA. having to share profits with the franchisor.B. pre-established local competition.C. toughing it out as a sole proprietor.D. the startup cost.23. The idea of providing the greatest good for the greatest number would best apply tothe _______ approach to establishing ethical standards.A. virtue C. utilitarianB. common-good D. fairnessExamination, Lesson 2 5924. Some equivalent of the Golden Rule, which says we should treat others the way wewish to be treated, is foundA. only among some Christian denominations.B. in all major religious and philosophical systems.C. in Eastern but not, as a rule, in Western traditions.D. in some religious traditions as well as in all philosophical systems.25. Fair pay, respect for persons, and faithfully kept promises are characteristics of socialresponsibility toA. employees. C. customers.B. shareholders. D. stakeholde
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