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WorksheetsBusiness Ethics Quiz
Total questions: 20
Worksheet time: 10mins
What is a business?
A place where only products are sold
An organization or economic system where goods and services are exchanged
A type of product sold to customers
A service offered to customers
What is the simplest form of business organization?
Corporation
Cooperative
Sole Proprietorship
Partnership
Which of the following is an example of a Sole Proprietorship?
SM Supermalls
A local sari-sari store
A large law firm
San Miguel Corporation
In a General Partnership, how is the responsibility shared?
Only one partner has all the responsibility
Partners have equal responsibility and liability
Some partners have limited liability, while others have full responsibility
Partners have no liability
What distinguishes a Limited Liability Partnership (LLP) from other partnerships?
Partners have unlimited liability
Partners are protected from personal liability for business debts
Only one partner has responsibility
It is exclusively for large corporations
Which type of business organization is a legal entity separate from its owners?
Partnership
Cooperative
Corporation
Sole Proprietorship
In a Corporation, what is the responsibility of shareholders?
They manage daily operations
They are responsible for business debts
Their liability is limited to their investment in the corporation
They run the business operations personally
Which of the following is an example of a cooperative?
A law firm
A workers' union
Cebu Consumers Cooperative
SM Prime Holdings
What is the primary goal of a cooperative business organization?
To provide products and services at better prices to members
To maximize profits for shareholders
To reduce personal liability for business owners
To create a global network of customers
Which of the following is an example of a Service Business?
7-Eleven
San Miguel Corporation
Shangri-La Hotels
Lazada Philippines
What does a Merchandising Business do?
Sells services to customers
Manufactures goods from raw materials
Buys products from suppliers and resells them to customers
Operates online platforms for service booking
Which type of business organization makes products by turning raw materials into finished goods?
Service Business
Hybrid Business
Manufacturing Business
Cooperative
What best defines a Hybrid Business?
A business that only operates online
A business that sells goods and services in physical stores and online
A business that focuses on community service
A business that only operates in one country
Which of the following is an example of a Hybrid Business?
Globe Telecom
Shangri-La Hotels
San Miguel Corporation
7-Eleven
Which of these is a common reason for establishing a business?
To make money and have financial independence
To avoid responsibility
To increase taxes
To compete with other businesses
What is the primary benefit of social responsibility for businesses?
It reduces costs only
It improves employee morale and customer loyalty
It reduces the number of products sold
It helps companies avoid competition
How does a company like Patagonia benefit from social responsibility?
By selling cheaper products
Through environmental activism and ethical sourcing
By reducing the number of employees
By offering more discounts to customers
Why is it important for companies to engage in social responsibility and stakeholder orientation?
To avoid legal risks
To maximize short-term profits only
To build trust and loyalty from customers and employees
To increase their taxes
Which company attracts investors by focusing on sustainability and clean energy?
Coca-Cola
Tesla
Unilever
What is one example of risk mitigation in socially responsible companies?
Offering higher salaries
Reducing environmental impact to avoid fines
Increasing product prices
Expanding operations globally
