Ethics and Business Ethics Quiz

What is ethics?

• beliefs about what is right or wrong

• Rules or standards governing a profession

• Elements of all of the above

What is business ethics?

• behaviors by managers or employees.

• believing what's right for one person is wrong for another.

• conflicts of interest that develop between two co-workers.

What is the primary focus of corporate social responsibility?

• Maximizing shareholder profits

• Ensuring ethical practices and community welfare

• Increasing market share

Which of the following best describes a conflict of interest?

• A situation where personal interests could influence professional decisions

• A disagreement between two employees

• A difference in opinion on business strategy

What is the role of a code of ethics in a professional setting?

• To provide guidelines for acceptable behavior

• To increase company profits

• To eliminate competition

What is the primary purpose of corporate social responsibility (CSR)?

• To increase company profits

• To ensure compliance with government regulations

• To contribute positively to society and the environment

Which of the following is an example of ethical leadership?

• Making decisions based solely on financial gain

• Encouraging transparency and accountability

• Prioritizing personal relationships over company policy

What is a whistleblower?

• An employee who reports unethical or illegal activities within the organization

• A manager who enforces company policies

• A consultant hired to improve business processes

What is a Sole proprietorship?

• A sole proprietorship is a business owned by multiple partners.
• A sole proprietorship is a business owned and run by one person, where there is no legal distinction between the owner and the business.
• A sole proprietorship is a corporation with shareholders.
• A sole proprietorship is a government-run business.

What is a partnership?

• A partnership is a form of government organization that manages public services.
• A partnership is a legal document that outlines employee benefits.
• A partnership is a business arrangement between two or more individuals who share ownership and management responsibilities.
• A partnership is a type of loan agreement between two parties.