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Worksheets2 BEASR
Total questions: 65
Worksheet time: 32mins
What's ethics all about?
An ethnic minority
A person who's a bit daft
Morally correct behavior
Making lots of money out of customers, bleeding them dry!
When looking at universal ethical standards, an ethical standard would be?
Plagiarism
lying
honesty
cheating
Which of the following is not considered a stakeholder?
employees
investors
company
customers
Producing high-quality products is an example of what?
legal and illegal
legal and unethical
illegal and unethical
legal and ethical
What is ethical in the following options
backbiting your friends
being rude to your siblings
helping an old man to carry his groceries
being mean to your classmates
Payments made to secure special services for a company or special consideration for its products
kickback
bribe
buy off
hush money
What is ethics?
A set of beliefs about right and wrong, good and bad.
The obligation of a business to contribute to society.
Bad and evil.
Proactive Contributions.
What is corporate responsibility.
Polluting
Not giving back to the community.
Doing business to meet the needs of the current generation, without harming the ability of future generations.
Business contributions to the community.
What is one of the universal ethical standards?
Lying
Respect
Goodness
Partying
What is both legal and ethical?
Producing high-quality products
Embezzling money
Practicing collusion
Flooding a corporate bathroom
Which is the approach to corporate planning ?
Customers and workers satisfaction
Planning skills
Optimising
All of the above
The structure in which there is seperation of ownership and management is called
Sole proprietorship
Partnership
Company
All business organisations
Profits do not have to be shared. This statement refers to
Partnership
Joint Hindu Family Business
Sole Proprietorship
Company
Which of the following best describes the term limited liability? If the business fails:
Personal possessions of the owner can be taken to pay any debts
The owner is personally liable for all the debts of the business
There is no limit on the amount the owner has to pay to settle debts
The owner only loses the amount invested in the business
X, Y and Z are partners in a firm. All three of them handle different departments as they have expertise in those areas. They all equally share their duties and control the business operations which help in smooth working of the firm. Which feature of partnership is highlighted here?
Membership
Continuity
Decision making and Control
Mutual Agency
It is the obligation to explain, justify, and take responsibility for one's actions.
Fairness
Transparency
Accountability
Impartial and just treatment or behavior without favoritism or discrimination.
Fairness
Transparency
Accountability
You invite trust by revealing that you have nothing to hide. You establish yourself as an honest, credible person in the eyes of others.
Fairness
Transparency
Accountability
A characteristic of an employee that admits an error he/she made on a project. When an employee is given the task of making sure a project goes right and knows she will be blamed if it doesn't.
Fairness
Transparency
Accountability
An organization being upfront and visible about the actions it takes, and whether those actions are consistent with its values.
Fairness
Transparency
Accountability
Which of the following best describes the picture?
Fairness
Transparency
Accountability
c. The amount of activity that is done by a store, company factory etc.
(a)
No profit sharing.
COOPERATIVE
CORPORATION
SOLE PROPRIETOR
PARTNERS
Under this form, shareholders are not liable for unpaid debts of the Corporation.
(a)
Is a government agency which registers all types of cooperatives in the Philippines.
(a)
One individual
Partners
Members
Sole Proprietor
Stockholder
More than one stockholders.
Corporation
Cooperative
Sole Proprietor
Partners
Is an organization that strives for a profit by providing goods and services desired by its customers.
(a)
Corporation organized principally for public purposes such charitable, cultural, educational purposes.
DTI
SEC
CAD
Non Stock Corporation
Is the agency of the Government of the Philippines responsible for regulating the securities industry in the Philippines.
(a)
Agree to cooperate to advance their mutual interests.
Sole Proprietor
Stockholder
Non stock corporation
Partnership
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
What is whistleblowing in the context of business ethics?
Ignoring unethical or illegal activities within a company
Participating in unethical or illegal activities within a company
Promoting unethical or illegal activities within a company
Reporting unethical or illegal activities within a company
How can a conflict of interest impact ethical decision making in a business setting?
By promoting fair and impartial decision making
By increasing transparency and accountability
By leading to biased decision making
By reducing the need for ethical considerations
Why is a business code of conduct important for an organization?
To ignore legal compliance and ethical standards
To encourage unhealthy competition and toxic work environment
To discourage employee morale and productivity
To set ethical standards, promote a positive work culture, and ensure legal compliance.
What are the potential consequences of not addressing unethical behavior in the workplace?
Higher profits and business growth
Increased productivity and employee satisfaction
Toxic work environment, decreased morale, loss of trust in leadership, and potential legal consequences
Improved teamwork and collaboration
How can businesses ensure transparency and accountability in their operations?
By ignoring feedback from stakeholders and customers
By keeping inaccurate records and financial statements
By conducting audits irregularly and infrequently
By implementing clear communication channels, maintaining accurate records, conducting regular audits, and involving stakeholders in decision-making processes.
What are some common ethical dilemmas faced by businesses today?
Employee dress code
Office holiday schedule
Company logo design
Some common ethical dilemmas faced by businesses today include conflicts of interest, corporate social responsibility, environmental sustainability, fair labor practices, and bribery and corruption.
How can businesses promote a culture of ethical behavior among their employees?
Punishing employees for reporting unethical behavior
Not providing any ethics training
Ignoring unethical behavior
Setting clear ethical standards, providing ethics training, leading by example, and implementing a system for reporting unethical behavior
What are the ethical considerations when dealing with suppliers and partners in a business?
Cutting corners and taking advantage of suppliers
Ignoring ethical standards and regulations
Fair treatment, transparency, and adherence to ethical standards
Being secretive and dishonest in business dealings
