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WorksheetsBusiness Ethics
Total questions: 50
Worksheet time: 38mins
Ethics refers to a set of _____ that guide questions of right and wrong.
profits
principles
emotions
goals
The study of general morals and moral choices is called:
partnership
ethics
business ethics
social responsibility
Business ethics examines ethical principles in:
families
ecosystems
relationships
businesses
Social responsibility suggests individuals or organizations should act for the benefit of:
themselves
shareholders
competitors
society at large
Corporate Social Responsibility focuses on:
achieving financial independence
avoiding risks
balancing society’s welfare with business interests
reducing taxes
A business is also referred to as:
ethics
an enterprise
a corporation
a partnership
The goal of a business is to:
maintain ethics
follow regulations
generate profits
produce goods only
A sole proprietorship is owned by:
members
shareholders
two or more individuals
one person
One advantage of a sole proprietorship is:
slow growth
easy organization
shared profits
unlimited liability
A disadvantage of sole proprietorship is:
equal profit-sharing
unlimited liability
limited liability
minimal paperwork
A partnership involves:
nonprofit groups
two or more individuals sharing ownership
shareholders
a single owner
An advantage of partnerships is:
limited lifespan
easier capital raising
shared profits
no risk of disagreement
A limited partnership differs from a general partnership by:
employing shareholders
focusing on nonprofit activities
restricting liability for some partners
sharing responsibilities equally
Corporations are distinct because they:
avoid taxation
are separate from their owners
have unlimited liability
require no paperwork
A cooperative is owned by:
a partnership
members
a single proprietor
shareholders
An advantage of a cooperative is:
quick decision-making
no record-keeping required
equal decision-making rights
limited profit distribution
A disadvantage of corporations is:
extensive paperwork
low liability protection
lack of profit generation
high tax rates for owners
Businesses offering intangible services, such as consulting, are:
financial businesses
manufacturing businesses
hybrid businesses
service businesses
Retailers are classified under:
hybrid businesses
manufacturing businesses
merchandising businesses
service businesses
A hybrid business operates under:
government supervision
nonprofit regulations
multiple classifications
a single classification
A business focusing on farming or mining is classified as:
manufacturing
agriculture and mining
service
merchandising
Financial businesses generate profits through:
transporting goods
providing public services
managing capital
selling products
Corporations primarily raise funds by:
attracting members
increasing tax benefits
selling stocks
borrowing from banks
A joint venture is a partnership formed:
with unequal responsibility sharing
exclusively for profit-sharing
with no liability limits
for a short period or single project
Cooperative profits are distributed based on:
government regulations
patronage amount
investment size
member votes
A framework suggesting that entities have an obligation to society.
(a)
A set of moral principles used to determine right and wrong.
(a)
Obligations of management to contribute to society and the organization.
(a)
Ethical principles and moral problems specific to the business environment.
(a)
A business owned and operated by one person.
(a)
Obligations of management to contribute to society and the organization.
(a)
A business organized under specific laws, separate from its owners.
(a)
A business owned by two or more individuals sharing profits and responsibilities.
(a)
A business type offering intangible goods or services.
(a)
A business owned by members for their mutual benefit.
(a)
Businesses that focus on farming, mining, or natural resource extraction.
(a)
Businesses that act as middlemen between manufacturers and consumers.
(a)
A partnership type formed for a single project or short duration.
(a)
Liability limited to the extent of a partner's investment.
(a)
An advantage of a corporation providing limited accountability to owners.
(a)
A type of business classification involving multiple business categories.
(a)
The main disadvantage of sole proprietorships involving personal financial risk.
(a)
A business model where profits are distributed based on member usage.
(a)
A disadvantage of partnerships where disagreements may arise.
(a)
A classification of businesses profiting from capital management.
(a)
A type of business offering public services like electricity or water.
(a)
The obligation of businesses to balance profit-making with environmental care.
(a)
The process of selling stocks to generate additional funds.
(a)
A group of businesses providing goods or services for society’s benefit.
(a)
The main purpose of ethics in decision-making.
(a)
