ch 3- ethics

Question 1

ethics

Answer 1

study of what constitutes right and wrong behavior

Question 2

Business ethics

Answer 2

Looks at the decisions businesses make/have to make and if they are right or wrong and overall how business ppl apply moral principles in decision making

Question 3

The Fraud Reduction and Data Analytics Act

Answer 3

identify and assess fraud risks and used to prevent, detect, and respond to fraud in fed govt agencies.

Question 4

Dodd-Frank Act

Answer 4

Strengthens oversight of financial institutions to prevent economic crises and protect consumers.

Question 5

Gray areas in the law

Answer 5

Laws can be difficult to interpret bc of broad language making it hard to determine how provisions apply to specific situations
and how courts will interpret/ enforce a law in specific cases

Question 5

Sarbanes-Oxley Act (SOX)

Answer 5

Enhances corporate accountability and prevents fraud through stricter financial reporting and internal controls

Question 6

Laws intended to address one situation can also be applied to other situations too (T or F)

Answer 6

T

Question 7

The moral minimum

Answer 7

The minimum level of ethical behavior expected by society which is just merely compliance with the law

Question 8

Failure to meet the moral minimum does not have consequences (T or F)

Answer 8

F - It does have consequences