Business Ethics and Social Responsibility

Which is not a form of business ownership?

• Sole proprietorship

• Partnership

• Corporation

• Retail

What is the simplest form of business organization?

• Sole proprietorship

• Partnership

• Corporation

• None of the above

How a corporation differs from a sole proprietorship?

• Corporations are owned by only one person.

• Corporations can sell stocks to large and small investors to raise money for the business.

• Sole proprietorships have limited liability for the owners.

• Sole proprietorships require a legal charter to start the business.

It is an activity of exchanging goods , for gaining profit.

• Business

• Organization

It is a group of people who work together to achieve common goal.

• Business

• Organization

Fairness involves balancing the interests involved in all decision-

making including decisions related to employees’ hiring, firing, compensation, and reward system.

• True

• False

Transparency allows stakeholders to understand whether the

activities of social institutions such as internet organizations and NGOs provide a genuine service to civil society and whether money is used appropriately.

• True

• False

Transparency means to be liable to explain or justify one’s action and decision.

• True

• False

Accountability is the quality of making judgment that is free from discrimination.

• True

• False

You insert the exact amount into the vending machine at school for a can of soda. Two cans are released from the machine. What will you do with the extra can of soda?

• Offer the can of juice to your classmate.

• Keep the extra can of soda for you.

• Report an incident to appropriate school personnel.