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WorksheetsBusiness Ethics_Q1_Exam
Total questions: 31
Worksheet time: 50mins
Multiple Choice. Choose the letter of the correct answer.
What obligation towards the society was referred to as a corporation’s responsibility?
Business Transaction
Business Ethics
Corporate Social Responsibility
Corporate Social Obligation
Multiple Choice. Choose the letter of the correct answer.
Who said that the only social responsibility of business is to increase its profits?
Milton Friedman
Mitton Friedman
Milton Freidman
None of the choices
Multiple Choice. Choose the letter of the correct answer.
What is the most important responsibility of business according to Milton Friedman?
Care for the environment
Take care of the employees
Contribution to the community
Increase of Profits
Multiple Choice. Choose the letter of the correct answer.
Which of the following is NOT a responsibility that businesses owe to their shareholders?
Managers have a responsibility to use carefully the money invested
Managers have the responsibility to honestly communicate company information
Managers have a responsibility to use their best judgment in developing, manufacturing and marketing their products
Managers have a responsibility to provide steady dividends for those shareholders who need it for retirement
Multiple Choice. Choose the letter of the correct answer.
Which of the following is the term for the employment practice where workers are prevented from taking advantage of work opportunities because of their race, gender, religion or disability?
Selective Hiring
Affirmative Action
Discrimination
Social Responsibility
Multiple Choice. Choose the letter of the correct answer.
What ability that makes a judgment a free from discrimination?
Fairness
Transparency
Honesty
None of the choices
Multiple Choice. Choose the letter of the correct answer.
Which of the following statement below best describes “Work Ethics”?
Based on moral virtues of hard work
Based on looking for shortcuts
Based on working hard with supervision
Based on trying to get the work on time
Multiple Choice. Choose the letter of the correct answer.
Which of the following is not one of Milton Friedman’s stand about Corporate Social Responsibility ?
Unwise
Undemocratic
Unfair
None of the choices
Multiple Choice. Choose the letter of the correct answer.
What is the main difference of a merchandising company over a service company?
It does need employees
It has no inventory
It provides tangible products
It has production facilities
Multiple Choice. Choose the letter of the correct answer.
Services performed by service companies may include all of the following, EXCEPT
Professional Services
Legal Advice
Clinical Services
None of the choices
Multiple Choice. Choose the letter of the correct answer.
What is the major input used by service companies?
Raw Materials
Labor
Capital
Investment
Multiple Choice. Choose the letter of the correct answer.
A merchandising company that sells goods directly to customers is called
Retailer
Wholesaler
Manufacturer
None of the choices
Multiple Choice. Choose the letter of the correct answer.
What are the revenues earned by merchandising companies?
Sales Revenue
Sales
Service Revenue
Both Sales & Sales Revenue are correct
Multiple Choice. Choose the letter of the correct answer.
Which of the following types of business cannot be a corporation?
Restaurants
Law Firms
Shoe Manufacturer
Car Manufacturer
Multiple Choice. Choose the letter of the correct answer.
Francesca C., an accounting firm, earns Php. 120,000.00 from its audit engagement with San Miguel Corporation. The Php. 120,000.00 is now considered as ________________.
Service Revenue
Sales Revenue
Capital
Investment
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
A Corporation is established mainly for the welfare of its members
True
Partnership
Cooperative
Investment
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Manufacturing Firms are businesses that usually purchase almost finished goods
True
Merchandising
Retail
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
The length of the term of a corporation should not exceed to 30 years
True
50 Years
80 Years
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Partnership is the easiest form of business organization to establish
True
Sole Proprietorship
Corporation
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Law firms cannot be registered as sole proprietorship
True
Corporation
Partnership
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
The minimum number of persons required to create a cooperative is 10
True
15
12
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Net Income term used to describe the profits of a cooperative
True
Net Surplus
Net Excess
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
NGO’s are organization established not for the pursuit of profit
True
Cooperative
Government Offices
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Service oriented type of business buys finished or almost finish goods from their suppliers and resells the same to customers
True
Merchandising
Manufacturing
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Service oriented type of business buys finished or almost finish goods from their suppliers and resells the same to customers
True
Merchandising
Manufacturing
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Merchandising Firms or businesses that utilizes their employees to provide intangible product or services
True
Service
Manufacturing
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Corporate Social Obligation refers to a corporate responsibilities or obligations towards the society
True
Corporate Social Responsibility
Corporate Social Platform
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Milton Friedman is a sociologist who said that a manager has no right to give a
company’s money for social issues
True
Economist
Psychologist
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Milton Friedman argues that social responsibility is unruly, unwise and unfair
True
Unreliable
undemocratic
Choose True if the underlined word in the statement is correct but if not choose the best/correct answer.
Responsibility ensure the management is accountable to the Board
True
Accountability
Transparency
Essay.
If you are a business owner, what corporate social responsibility that you want to apply in relation to the needs of your society or community problem. List 5 example and discuss your answer.
