Ethics and Social Responsibility

All unethical practices are covered under the law.

• true
• false

Ethical behaviors include truthfulness, offering well-made and safe merchandise, and treating employees and customers fairly.

• true
• false

Many unethical behaviors lead to the passage of legislation that makes those behaviors legal.

• true

• false

Business ethics are based in law.

• true
• false

Standards are moral principles by which people conduct themselves personally, socially, or professionally.

• true
• false

Different cultures, businesses, and industries have the same ethical standards for uniformity in international commerce.

• true
• false

In some cultures, excessive gift giving in business is overlooked and considered ethical.

• true
• false

Most businesses follow their industry’s code of ethics.

• true
• false

Business ethics focus on decisions considered good or bad, correct or incorrect.

• true
• false

Bribery occurs when gifts, money, or favors are offered

• instead of payment of taxes.
• to encourage business deals.
• in lieu of wages.
• as bonuses to managers.