Business Ethics and Social Responsibility

Which of the following is NOT a form of business organization?

• Sole proprietorship

• Partnership

• Corporation

• Monopoly

A sole proprietorship is characterized by:

• Limited liability

• Single ownership

• Double taxation

• Board of directors

Which form of business organization is owned by shareholders?

• Partnership

• Corporation

• Sole proprietorship

• Cooperative

Which of these is an example of a corporation in your locality?

• A local bakery owned by a family

• A multinational fast-food chain

• A neighborhood grocery store

• A freelance graphic designer

Which business organization form is most suitable for a small family-owned restaurant?

• Corporation

• Partnership

• Sole proprietorship

• Franchise

In terms of business ethics, fairness relates to:

• Equal treatment of all stakeholders

• Maximizing profits at any cost

• Ignoring employee concerns

• Reducing transparency

Accountability in business ethics means:

• Taking responsibility for one's actions

• Passing blame to others

• Avoiding decision-making

• Focusing solely on profits

Transparency in business practices involves:

• Keeping all information confidential

• Open and honest communication

• Hiding financial reports

• Restricting stakeholder involvement

Stewardship in a corporate context refers to:

• Hoarding resources

• Managing resources responsibly

• Ignoring environmental concerns

• Prioritizing short-term gains

Corporate governance is primarily concerned with:

• Marketing strategies

• Structuring company leadership

• Employee training programs

• Customer service improvement