Business Ethics and Social Responsibility

Front

Act that criminalized securities fraud and toughened penalties for corporate fraud

Back

Sarbanes-Oxley Act

Front

Requirement for sole proprietors regarding laws and regulations

Back

Sole proprietors must follow all laws, including federal, state, and local regulations; securities laws; and employee and consumer protection regulation.

Front

What is NOT a key to a successful partnership

Back

Keep profit sharing equal regardless of contributions.

Front

Disadvantage of partnerships over sole proprietorships

Back

In partnerships, all owners have unlimited liability, whereas in sole proprietorships they have limited liabilities.

Front

In partnerships, profits have to be shared, whereas in sole proprietorships all profits belong exclusively to the owner.

Back

True

Front

A(n) ______ is a legal entity, created by the state, whose assets and liabilities are separate from its owners.

Back

Corporation

Front

An advantage of franchising instead of building an independent business from scratch is that a franchise outlet often reaches the break-even point faster than an independent business would.

Back

Front

Outsourcing has become a controversial practice in the United States because many jobs have moved overseas where those tasks can be accomplished for lower costs.

Back

Front

Implications of trade deficits

Back

The loss of jobs

Front

Devaluation of currency in the United States

Back

An increase in its exports.