Ethics in Business Quiz

What is the definition of Ethics in business?

• Action guided by a set of principles of morality

• Conduct in accordance with what a person determines is right versus wrong

• Set of standards of conduct that guide decisions and actions based on duties derived from core values

• Conduct based on or authorized by law

What does Ethical Behavior refer to?

• Conduct in accordance with what a person determines is right versus wrong

• Action guided by a set of principles of morality

• Conduct based on or authorized by law

• An organization's financial statement containing untrue data

What is the meaning of Moral Behavior?

• Conduct in accordance with what a person determines is right versus wrong

• Conduct based on or authorized by law

• An entrusted person converts other’s assets or properties for his or her own use

• Complex situation in which people have difficulty choosing between a moral or an immoral act

What is Legal Behavior?

• Conduct in accordance with what a person determines is right versus wrong

• Conduct based on or authorized by law, which is established by society to maintain order and protect people and properties from harm

• An organization's financial statement containing untrue data

• Duties and obligations of businesses which contribute to the well-being of society

What is a False Financial Statement?

• An organization's financial statement containing untrue data which is used to mislead

• An entrusted person converts other’s assets or properties for his or her own use

• Complex situation in which people have difficulty choosing between a moral or an immoral act

• Set of written standards issued by an organization to assist its employees in conducting their actions in conformity with the organization's ethical values

What is Embezzlement?

• An organization's financial statement containing untrue data

• An entrusted person converts other’s assets or properties for his or her own use

• Complex situation in which people have difficulty choosing between a moral or an immoral act

• Duties and obligations of businesses which contribute to the well-being of society

What is an Ethical Dilemma?

• An organization's financial statement containing untrue data

• An entrusted person converts other’s assets or properties for his or her own use

• Complex situation in which people have difficulty choosing between a moral or an immoral act

• Set of written standards issued by an organization to assist its employees in conducting their actions in conformity with the organization's ethical values

What is a Code of Ethics?

• An organization's financial statement containing untrue data

• An entrusted person converts other’s assets or properties for his or her own use

• Complex situation in which people have difficulty choosing between a moral or an immoral act

• Set of written standards issued by an organization to assist its employees in conducting their actions in conformity with the organization's ethical values

What is Business Social Responsibility?

• An organization's financial statement containing untrue data

• An entrusted person converts other’s assets or properties for his or her own use

• Duties and obligations of businesses which contribute to the well-being of society

• Set of written standards issued by an organization to assist its employees in conducting their actions in conformity with the organization's ethical values

Who are Stakeholders?

• An organization's financial statement containing untrue data

• An entrusted person converts other’s assets or properties for his or her own use

• Complex situation in which people have difficulty choosing between a moral or an immoral act

• All the parties which interact with the business