Examination 2 Flashcards
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.
management
According to your text, our main sources of ethical standards are religion and?
Culture
It looks a lot like a corporation and can sell stock, but it’s taxed like a partnership. This would be a/an?
master limited partnership
Which statement about the Sarbanes-Oxley Act istrue?
It offers some protection to whistleblowers
According to the influential economist Milton Friedman, corporate social responsibility is primarily based on?
making money for shareholders
As derived from the Markkula Center for Applied Ethics, which of the following should be one of eight guiding principles?
Preventing harm to others and to the world around us
Themajordisadvantage of a sole proprietorship is?
unlimited liability
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.
Market
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?
recognizing that an ethical issue exists
Which of the following statements about the Revised Uniform Partnership Act is correct?
It’s a default agreement for establishing such things as how partners will divide profit.
Respecting corporate social responsibility, Ronald McDonald Houses provides an example of corporate?
philanthropy
Because what is legal may not be ethical, we should base our moral decisions on _______ principles.
universal
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?
cooperative
In any company, _______ must guide and inspire the implementation and enforcement of an ethics code.
managerial leadership
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.
rights
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.
company
Which of the following is trueabout an S-corporation?
It’s created by the government
A social _______ is a systematic evaluation of a company’s progress in implementing socially responsible programs.
audit
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.
Service
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?
LLC company
A/An _______-based ethics code emphasizes preventing unlawful behavior through controlling behavior and punishing wrongdoers.
compliance
Without doubt, the biggestdisadvantage to franchising is?
the startup cost
The idea of providing the greatest good for the greatest number would bestapply to the _______ approach to establishing ethical standards.
utilitarian
Some equivalent of the Golden Rule, which says we should treat others the way we wish to be treated, is found?
in all major religious and philosophical systems
Fair pay, respect for persons, and faithfully kept promises are characteristics of social responsibility to
employees
