Examination 2

Question 0

The employees of Abs “R” Us, which includes 12 fitness parlors in and around the metro area, feel they can improve the performance of the company. They decide to pool their resources to purchase the company. This would be called a _______ buyout.

Answer 0

management

Question 1

According to your text, our main sources of ethical standards are religion and?

Answer 1

Culture

Question 2

It looks a lot like a corporation and can sell stock, but it’s taxed like a partnership. This would be a/an?

Answer 2

master limited partnership

Question 3

Which statement about the Sarbanes-Oxley Act istrue?

Answer 3

It offers some protection to whistleblowers

Question 4

According to the influential economist Milton Friedman, corporate social responsibility is primarily based on?

Answer 4

making money for shareholders

Question 5

As derived from the Markkula Center for Applied Ethics, which of the following should be one of eight guiding principles?

Answer 5

Preventing harm to others and to the world around us

Question 6

Themajordisadvantage of a sole proprietorship is?

Answer 6

unlimited liability

Question 7

In the world of business, a _______ is made up of a group of people or organizations who have unsatisfied wants and needs and the resources to fulfill those wants and needs.

Answer 7

Market

Question 8

You learn that your friend has cheated on a final exam. If you decide to follow your text’s five-step process for making ethical decisions in your personal life, your first step will be?

Answer 8

recognizing that an ethical issue exists

Question 9

Which of the following statements about the Revised Uniform Partnership Act is correct?

Answer 9

It’s a default agreement for establishing such things as how partners will divide profit.

Question 10

Respecting corporate social responsibility, Ronald McDonald Houses provides an example of corporate?

Answer 10

philanthropy

Question 11

Because what is legal may not be ethical, we should base our moral decisions on _______ principles.

Answer 11

universal

Question 12

The residents of Littleton Township own the local hydroelectric generating plant. They pay monthly fees for facility maintenance and service and share in revenues that exceed operating costs on an annual basis. This sort of organization would bestbe characterized as a/an?

Answer 12

cooperative

Question 13

In any company, _______ must guide and inspire the implementation and enforcement of an ethics code.

Answer 13

managerial leadership

Question 14

According to the _______ approach as a basis for ethical standards, you’ll make an ethical decision based on respecting and protecting the moral rights of those who will be affected by your decision.

Answer 14

rights

Question 15

The management of Flora-Delivery, Inc. runs 14 stores and advises and assists owner-managers of 10 franchise operations. The stores directly run and managed by Flora-Delivery would be referred to as _______ stores.

Answer 15

company

Question 16

Which of the following is trueabout an S-corporation?

Answer 16

It’s created by the government

Question 17

A social _______ is a systematic evaluation of a company’s progress in implementing socially responsible programs.

Answer 17

audit

Question 18

Xerox has a program called Social _______ Leave that allows employees to take leave for up to a year, at full pay and benefits, to work for a nonprofit organization.

Answer 18

Service

Question 19

You’re in search of a type of company organization that provides limited liability, management flexibility, a choice of taxation schemes, and freedom from the hassles of selling stock or holding annual meetings. You would almost certainly choose to organize as a/an?

Answer 19

LLC company

Question 20

A/An _______-based ethics code emphasizes preventing unlawful behavior through controlling behavior and punishing wrongdoers.

Answer 20

compliance

Question 21

Without doubt, the biggestdisadvantage to franchising is?

Answer 21

the startup cost

Question 22

The idea of providing the greatest good for the greatest number would bestapply to the _______ approach to establishing ethical standards.

Answer 22

utilitarian

Question 23

Some equivalent of the Golden Rule, which says we should treat others the way we wish to be treated, is found?

Answer 23

in all major religious and philosophical systems

Question 24

Fair pay, respect for persons, and faithfully kept promises are characteristics of social responsibility to

Answer 24

employees