IBT Chapter 4 - Business Ethics and Social responsibility

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

• True

• False

Taking items from your employer is considered to be unethical behavior.

• 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.

A conflict of interest is a conflict between self-interest and

• professional obligation.

• unfair practices

• a personal obligation.

• another person’s self-interest

The following are examples of conflicts of interest except

• an elected official awarding a contract to his business partner.

• a judge hearing a case defended by his former law-firm partner.

• a principal hiring her husband to teach at her school.

• a business hiring an accounting firm to oversee record-keeping.

Most businesses are committed to

• providing safe products.

• treating employees fairly.

• being truthful about their financial situation.

• all of the above

Some firms limit the damage they do to the environment by

• using recycled or recyclable paper.

• installing filtration systems to reduce air pollutants.

• using renewable energy sources.

• any of the above

The legislation that mandates that men and women be paid the same wages for doing equal work is the

• Equal Pay Act.

• Taft-Wheeley Act.

• Kennedy-DeLay Act.

• Feinstein-Frist Act.

An example of an ethical business practice would be

• false advertising.

• keeping accurate financial records.

• requiring employees to work on holidays.

• not paying overtime to workers.