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2nd Sem Reviewer > Business Ethics > Flashcards

Business Ethics Flashcards

1
Q

Is an enterprise or any lawful activity that provides products or services.

A

Business

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2
Q

This popular form of business structure is the easiest to set up. (One owner who makes all of the business decisions).

A

Sole Proprietorship

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3
Q

You can classify a business partnership as either general or limited

A

Partnership

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4
Q

They don’t require a formal agreement.

A

General Partnership

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5
Q

Require owners to file paperwork with the state and compose formal agreements.

A

Limited Partnership

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6
Q

Is a business organization that acts as a unique and separate entity from its shareholder

A

Corporation

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7
Q

Is an autonomous and duly registered association of persons

A

Cooperative

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8
Q

A domestic corporation takes its own liabilities and is held responsible for its debts

A

Limited Liability Company

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9
Q

Provide intangible products

A

Service Business

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10
Q

Offer intangible goods and services typically charge for labor

A

Service Businesses

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11
Q

Include banks and other companies that generate profits through investment and management of capital

A

Financial Businesses

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12
Q

Deliver goods and individual to their destination

A

Transportation Businesses

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13
Q

Produce public services such as electricity or sewage treatment

A

Utilities

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14
Q

Also known as Buy and Sell businesses.

A

Merchandising Businesses

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15
Q

Buys products at wholesale price and sell the same retail price

A

Merchandising Businesses

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16
Q

Acts as a middleman and get goods produced by manufacturer

A

Retailers and Distributors

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17
Q

Are companies that may be classified in more than one type of business

A

Hybrid Businesses

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18
Q

Refers to the level of event handedness in dispensing justice

A

Fairnerss

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19
Q

Is the obligation of an individual or organization to account for its activities

A

Accountability

20
Q

Refer to the act of being accountable to the shareholders of an organization

A

Corporate Transparency

21
Q

A person employed to manage another’s property

A

Stewardship

22
Q

Is a global company with over 88,000 employees that produces innovative technologies to change the world for the better

A

3M

23
Q

What is proper

A

Decorum

24
Q

Business Etiquette

A

Decorum

25
Q

Unwritten rules or guidelines that are peculiar to every culture or organization

A

Protocol

26
Q

4 types of protocol

A

The basic protocol, Training “” , Benefit “”, International Business “”

27
Q

This encourages employees in a company to act in a uniform manner

A

Basic Protocol

28
Q

This help bridges economic, cultural,knowledge,and language gap

A

Training Protocol

29
Q

This will able to make informed decision about whether the company is right for them

A

Benefit Protocol

30
Q

Some knowledge about the rules and behaviors

A

International Business Protocol

31
Q

Guidelines to developed by an organization to governs its action

A

Policies

32
Q

How company encourages people to buy their products, services, or ideas

A

Advertising

33
Q

Process of product development as well as sales,promotion,and distribution

A

Marketing

34
Q

Process of recording all financial transactions to keep in track of cash flow

A

Bookkeeping

35
Q

Recorded in a single line only

A

Single - Entry Bookkeeping

36
Q

Reflected in two separate account

A

Double - Entry Bookkeeping

37
Q

Public reporting of operating and financial data by a business enterprise

A

Reportorial Requirements

38
Q

Processes and items which serve as evidence for the validity or truth of a certain claim or statement

A

Documentation

39
Q

What are the forms of Business Organizations

A

Sole Proprietorship
Partnership
Corporation
Cooperative
Limited Liability Company

40
Q

Three main forms of Corporations

A

C Corporation
S Corporation
LCC or Limited Liability Corporation

41
Q

Forms of manufacturing businesses

A

Agriculture and mining businesses
Manufacturers
Real State Businesses
Information Businesses

42
Q

Reason why people start create a business

A

To be your own boss
To build our future
To create opportunities
To create a customer

43
Q

Example on Decorum

A

On greetings
On body language
On handshake
On listening

44
Q

FEATURES OF BUSINESS POLICY

A

Specific, Clear, Reliable/Uniform,
Appropriate, Simple,
Inclusive/Comprehensive,
Flexible
Stable.

45
Q

TYPES OF ANNUAL REPORT

A

Balance Sheet, Cash Flow Statement,
Accounting Policies, Profit and loss
account

46
Q

company’s values, ethics,
objective, and responsibilities.

A

CODE OF ETHICS

47
Q

“Starting a business of your own is
Divine Activity”;

A

RALP WALDO EMERSON

2nd Sem Reviewer (3 decks)

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