Introduction to Business Chapter 4 Test

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 truthful financial reporting and makes the CEO more accountable for the actions of the financial managers of a firm is the

• Sarbanes-Oxley 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.

Which statement is most true?

• Whatever it takes to win is a good business practice.

• All businesses have the same ethical standards.

• Different businesses and industries have different ethical standards.

• Bribery is considered an ethical practice in some U.S. companies but not in others.

OSHA stands for

• Occupational Safety and Health Agency.

• Occupational Safety Agency.

• Occupational Safety and Health Administration.

• Occupational Site and Health Administration.

The Triangle Shirtwaist Factory fire resulted in

• better product design.

• longer working hours.

• increased immigrant labor.

• improved working conditions.