Final Exam Review Part 1

What is the definition of ethics in relation to business?

• A statement of business goals
• Rules that apply only to business actions
• Set of moral principles governing decisions and actions
• None of the above

Which term refers to the exclusive right to perform, display, copy, or distribute an artistic work?

• Patent
• Business plan
• Trademark
• Copyright

What does the term "fair use" refer to in business ethics?

• Using copyrighted material without permission or payment
• Ensuring all business transactions are fair and equal
• Disclosing all company information transparently
• None of the above

Infringement in business ethics relates to:

• Violating an individual's moral values
• Violating copyright or patent rights
• Unethical competitive practices
• None of the above

What is the meaning of the term "public domain" in business?

• Creative works with expired copyright or patent protection
• Publicly traded companies
• Domain names available for public purchase
• None of the above

Transparency in business refers to:

• Keeping all business operations secret
• Openness and accountability in decisions and actions
• Only disclosing positive information
• Concealing financial statements

What is the definition of universal values in business ethics?

• Values unique to each business culture
• Values that are not shared globally
• Values shared by all cultures throughout history
• None of the above

What is the purpose of an executive summary in a business plan?

• Detailed breakdown of financial projections
• Introduction of the company's employees
• Summary of business plan highlights and investment points
• None of the above

What is the meaning of integrity in business conduct?

• Acting without moral principles
• Honesty and having strong moral principles
• Manipulating business information for personal gain
• None of the above

Which term refers to the possibility of loss associated with business operations?

• Business risk
• Conflict of interest
• Patent
• Fair use