business ch 4 quiz

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created 7 years ago by lsudduth
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1

What are beliefs about what is right and what is wrong is called?

ethics

2

When you are faced with options which all have negative consequences, what you are experiencing?

an ethical dilemma

3

What is a code of ethics?

a formal written document defining the ethical standards of an organization

4

The obligation of a business to contribute to society is referred to as ______.

social responsibility

5

Consumerism focuses on all of the following rights except:

the right to privacy.

6

What is the piece of legislation that set higher ethical standards for public corporations and accounting firms?

Sarbanes–Oxley Act

7

Sustainable development ________.

means doing business to meet the needs of the current generation without harming the ability of future generations to meet their needs

8

Stakeholders of a business include all of the following except:

regulators.

9

Companies offer bribes overseas even though it is illegal because it is an accepted practice in foreign countries

True

10

What is a systematic evaluation of how well a firm is meeting its ethics and social responsibility goals?

a social audit