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Test bank for business law and the regulation of business 11th edition by mann

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https://getbooksolutions.comTest Bank for Business Law and the Regulation of Business 11th Edition by Mann Link full download: https://getbooksolutions.com/download/test-bank-for-business-law-and-th e-regulation-of-business-11th-edition-by-mann Chapter 2—Business Ethics TRUE/FALSE 1. Ethics can be defined broadly as the study of what is good or right for human beings. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Introduction Bloom's: Knowledge2. Like legal analyses, analyses of ethics have a central authority and follow clear-cut, universal standards. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Introduction Bloom's: Comprehension3. Business ethics, the study and determination of what is right and good in business settings, has a special set of ethical principles that applies only to the world of business. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Introduction Bloom's: Comprehension4. As a result of regulations by the Securities and Exchange Commission and the stock exchanges, the boards of directors of the great majority of publicly held corporations consist primarily of outside directors, and these corporations have audit committees of outside directors. ANS: T DIF: Difficulty: Easy NAT: BUSPROG: Ethics | BUSPROG: Analytic TOP: A-Head: Ethical Responsibilities of BusinessSTA: AICPA: BB-Legal KEY: Bloom's: Comprehensionhttps://getbooksolutions.com5. An ethical relativist looks to a central authority, such as the Bible, to guide her in ethical decision making. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Comprehension6. It is possible for legal acts to be immoral. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Law versus Ethics Bloom's: Comprehension7. Situational ethics, unlike ethical relativism, judges a person's ethics, but first looks at the decision or act from the perspective of the actor. ANS: NAT: STA: KEY:T DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Analysis8. Jeremy Bentham was a proponent of utilitarianism. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge9. A person who believes in the situational ethics theory would agree that precise guidelines for business behavior must be developed and adhered to by business professionals. ANS: NAT: STA: TOP: KEY:F DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking A-Head: Ethical Theories | A-Head: Ethical Standards in Business Bloom's: Analysis10. A leading proponent of the utilitarian approach to ethics was the eighteenth century philosopher Immanuel Kant. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge11. Deontologists are criticized for rigidity and excessive formalism. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledgehttps://getbooksolutions.com12. Intuitionism holds that rational persons possess inherent powers to assess the correctness of actions. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge13. Kant's philosophy rejects the idea that the end justifies the means. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge14. Harvard philosopher John Rawls stressed liberty as the most important obligation owed by a society to its members. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge15. To a libertarian, it is not unjust for some people to accumulate fortunes while others live in poverty. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge16. Although corporations are not persons but instead are artificial entities created by the state, it is clear that they can and should be held morally accountable. ANS: F DIF: Difficulty: Moderate NAT: BUSPROG: Ethics | BUSPROG: Analytic TOP: A-Head: Ethical Standards in BusinessSTA: AICPA: BB-Legal KEY: Bloom's: Analysis17. Act utilitarianism supports rules that, on balance, produce the greatest good. ANS: NAT: STA: KEY:F DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Analysis18. According to Milton Friedman, the social obligation of a corporation is to return as much money as possible to its direct stakeholders. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Responsibilities of Business Bloom's: Knowledge19. Kant's categorical imperative is a variation of the Golden Rule.https://getbooksolutions.comANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge20. The essential characteristic of ethical fundamentalism is a reliance upon a central repository of wisdom. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge21. To a libertarian, it is unjust for a society to take wealth earned by one citizen and to distribute it to others who did not earn it. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge22. What is unjust to a social egalitarian will also be unjust to a libertarian. ANS: NAT: STA: KEY:F DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Analysis23. From a Kantian perspective, for an action to be moral, it must be possible for it to be made into a universal law and it must be respectful of the autonomy and rationality of all human beings. ANS: NAT: STA: KEY:T DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Analysis24. Under a Kantian approach to ethics, a person should not lie to colleagues unless that person supports the right of all colleagues to lie to one another. ANS: NAT: STA: KEY:T DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Application25. Harvard philosopher, Robert Nozick, stressed liberty, not justice, as the most important obligation that society owes its members. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledgehttps://getbooksolutions.com26. Kant's approach, like that of ethical fundamentalists, asserts that universal laws stem from the direct pronouncements of God. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge27. Bill would like to propose to the board of directors of Bizmarc, Inc., that the corporation distribute one percent of its pre-tax yearly income to feed the poor. To Milton Friedman and others, Bill's proposal might be considered unethical, because it violates the purpose for which the corporation was established. ANS: NAT: STA: KEY:T DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Reflective Thinking AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Application28. Arguments exist which oppose business involvement in socially responsible activities. These arguments involve profitability, unfairness to employees and shareholders, accountability, and lack of expertise managing socially useful activities. ANS: NAT: STA: KEY:T DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Responsibilities of Business Bloom's: Application29. Philosophers have found that the most effective way to develop dependable and universal methods for making ethical judgments is to fashion a priori guidelines. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Comprehension30. The "Television Test" is a test that is generally rejected by adherents of intuitionism. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Comprehension31. Deontological theories assess good and evil in terms of the consequences of actions. ANS: NAT: STA: KEY:F DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Comprehension32. Utilitarian notions underlie cost-benefit analysis. ANS: T DIF: Difficulty: Easy NAT: BUSPROG: Ethics | BUSPROG: Analytichttps://getbooksolutions.comSTA: AICPA: BB-Critical Thinking KEY: Bloom's: ComprehensionTOP: A-Head: Ethical Theories33. Ethical questions in business settings include corporate governance, whistle-blowing, shareholder voting, and management's duties to shareholders. ANS: NAT: STA: KEY:T DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Introduction Bloom's: Synthesis34. Ethical relativism holds that when any two individuals or cultures differ regarding the morality of a particular issue or action, they may both be correct because morality is relative. ANS: NAT: STA: KEY:T DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Application35. Psychologist Lawrence Kohlberg observed that people progress through sequential stages of moral development according to the two major variables of age and reasoning. ANS: NAT: STA: KEY:T DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: KnowledgeMULTIPLE CHOICE 1. If a Middle Eastern culture and the American culture differ as to the morality of a particular action, under ethical relativism: a. both cultures can be correct. b. the action should be assessed to determine whether the action produces more net pleasure compared with net pain. c. a cost-benefit analysis should be conducted to determine the relative economic efficiency of the action. d. the action should be viewed through a “veil of ignorance� to determine whether it is ethical. ANS: NAT: STA: KEY:A DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Application2. Which of the following best describes the Libertarian social ethics theory? a. Libertarians stress market outcomes as the basis for distributing society's rewards. b. Libertarians encourage social control over all people in order to design an equitable society. c. Libertarians believe it is just for society to take wealth earned by some citizens and distribute it to those who did not directly earn it but are in need. d. The fact that some people end up with fortunes while others are poor proves only that social interference is necessary to justly redistribute wealth in certain circumstances.https://getbooksolutions.comANS: NAT: STA: KEY:A DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Synthesis3. True cost-benefit analysis as a social theory: a. only measures monetary gains and losses in making business decisions. b. compares direct and indirect costs and benefits of program alternatives for meeting a specific goal. c. judges persons' actions by what those persons believe is right for themselves. d. emphasizes justice and a central moral authority. ANS: NAT: STA: KEY:B DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Analysis4. The ethical theory that underlies cost-benefit analysis is: a. libertarianism. b. deontology. c. utilitarianism. d. ethical relativism. ANS: NAT: STA: KEY:C DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Comprehension5. How many stages are there in Kohlberg's Theory of Moral Development? a. 2 b. 3 c. 4 d. 5 ANS: NAT: STA: KEY:B DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge6. An ethical decision-making approach that relies on a central authority or set of rules, such as the Koran or the Bible, is: a. ethical fundamentalism. b. ethical relativism. c. rule utilitarianism. d. act utilitarianism. ANS: NAT: STA: KEY:A DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Knowledge7. The stakeholder model for the societal role of the business corporation: a. is a derivative of the social contract theory. b. holds that a corporation has the fiduciary duties of utmost loyalty and good faith tohttps://getbooksolutions.comemployees, customers, and suppliers, as well as shareholders. c. All of these are correct. d. None of these are correct. ANS: NAT: STA: KEY:C DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Responsibilities of Business Bloom's: Synthesis8. The ethical theory of intuitionism proposes that: a. the power of an individual to assess the rightness or wrongness of decisions is as basic to human beings as the instinct for survival. b. market outcomes should be the basis for distributing goods. c. the "veil of ignorance" should be developed to consider the needs and rights of all society's members. d. society should stress equality of opportunity, not results. ANS: NAT: STA: KEY:A DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Comprehension9. In what way or ways are situational ethics and ethical relativism similar? a. They both look to a central authority or set of rules to guide ethical decision-making. b. They both assess each separate act according to whether it maximizes pleasure over pain. c. They both judge actions from the perspective of the actor. d. All of the above. ANS: NAT: STA: KEY:C DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Analysis10. To a , whether telling a lie in a given instance would produce greater pleasure than telling the truth is less important than deciding if a general practice of lying would maximize society's pleasure. a. deontologist b. rule utilitarian c. ethical fundamentalist d. ethical relativist ANS: NAT: STA: KEY:B DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Analysis11. How does Immanuel Kant's approach to ethical decision-making differ from that of an ethical fundamentalist? a. Kant's approach is premised on man's rationality and not on principles handed down from above. b. Kant's approach stresses liberty and not justice. c. Kant's approach judges society in moral terms by how it distributes goods and services. d. Kant's approach assesses each separate act according to whether it maximizes pleasure over pain.https://getbooksolutions.comANS: NAT: STA: KEY:A DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Analysis12. In a classic study published in 1932, Adolf Berle and Gardner Means concluded that great amounts of economic power had been: a. widely dispersed among a large number of corporations. This trend has continued steadily. b. widely dispersed among a large number of corporations. This trend has declined steadily. c. concentrated in a relatively few corporations and shareholders had become far removed from active participation in management. These trends have declined steadily. d. concentrated in a relatively few corporations and shareholders had become far removed from active participation in management. These trends have continued steadily. ANS: NAT: STA: KEY:D DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Responsibilities of Business Bloom's: Analysis13. Under which ethical system would it be ethical to compel a few citizens to undergo painful or fatal medical tests in order to develop cures for the rest of the world? a. Utilitarianism. b. Ethical fundamentalism. c. Distributive justice. d. Libertarianism. ANS: NAT: STA: KEY:A DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Application14. The definition of business ethics includes which of the following points? a. It is a branch of applied ethics. b. It is fully codified in federal statutes. c. It has a central authority and universal standards. d. All of these are correct. ANS: NAT: STA: KEY:A DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Introduction Bloom's: Comprehension15. A major criticism of utilitarianism as an ethical theory is: a. it is rigid. b. in some important instances it ignores justice. c. it results in the judgment that a person’s actions are always moral for that person and therefore exempt from punishment. d. it is excessively formal. ANS: NAT: STA: KEY:B DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Comprehensionhttps://getbooksolutions.com16. Which arguments oppose business involvement in socially responsible activities? a. Lack of corporate focus on profitability. b. Unfairness to company employees and shareholders. c. Lack of accountability. d. All of these are correct. ANS: NAT: STA: KEY:D DIF: Difficulty: Easy BUSPROG: Ethics | BUSPROG: Analytic AICPA: BB-Critical Thinking TOP: A-Head: Ethical Responsibilities of Business Bloom's: Comprehension17. Nineteen-year-old Martin was raised in a good, Christian home and attended parochial school through eighth grade. Martin is a good student and citizen who conforms to the expectations of his church, family, and peers. He does so because he loves his family and church, is loyal to them, and trusts them. Under Kohlberg's schematic analysis, Martin is most likely at what stage of moral development? a. Pre-conventional. b. Conventional. c. Post-conventional. d. Adult. ANS: NAT: STA: KEY:B DIF: Difficulty: Moderate BUSPROG: Ethics | BUSPROG: Reflective Thinking AICPA: BB-Critical Thinking TOP: A-Head: Ethical Theories Bloom's: Application18. Which of the following is a common criticism of deontological ethical theories? a. They are excessively pragmatic. b. They are rigid
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