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Good Governance > Lessons 5-6 > Flashcards

Lessons 5-6 Flashcards

1
Q

Much of the blame for corporate scandals like Enron and WorldCom can be placed on the audit committees of the boards of directors

A

False

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2
Q

Best World resources Inc. is a big gaming company with Stanley Ho as major stakeholder from Taiwan.

A

False

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3
Q

The BW Resources Inc. scandal was the stock manipulation of PSE for the benefit of Joseph Estrada

A

True

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4
Q

SEC Memorandum Circular No. 19 Series of 2016, covers all private corporations in the Philippines under supervision of the SEC

A

False

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5
Q

Both board director, officers, including the top managements of corporations are fiduciaries (persons placed in positions of trust) for the shareholders.

A

False

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6
Q

The public’s view of business ethics has always been very high until the recent scandals.

A

False

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7
Q

The major questions related to the conventional approach to business ethics are “Whose norms do we use?” and “What norms are prevailing?”

A

True

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8
Q

The best reason to base one’s ethics on societal norms is that the norms do not conflict; thus they provide clear guidance to “right” and “wrong.”

A

False

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9
Q

Ethical behavior is generally considered to be on a higher plane than legal behavior.

A

True

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10
Q

In business decisions ethics, the environment and the law are not factors.

A

False

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11
Q

Ethics refers to issues of right and wrong, fairness, and justice.

A

True

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12
Q

The principal internal stakeholders of a corporation are its customers and employees.

A

False

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13
Q

Immoral management implies that decision makers know right from wrong, but choose to do wrong.

A

True

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14
Q

The relationship between government and business has become adversarial, but is improving.

A

False

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15
Q

In many ways the most controversial aspect of the government/business relationship is deregulation.

A

False

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16
Q

Government regulation generally arises out of some type of market failure.

A

True

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17
Q

Keeping people informed is an important social goal of government.

A

True

18
Q

Government regulation of business through the control of economic or market variables is a form of social regulation.

A

False

19
Q

DTI is the government agency that is responsible for the country’s competitiveness and innovativeness contributing to inclusive growth and employment generation.

A

True

20
Q

At least 5, but not more than 13 members of Board of Directors should be elected by stockholders.

A

False

21
Q

The method by which a firm is being governed, directed, administered, or controlled is

management by objectives
management by crisis
corporate governance
management by decree

A

corporate governance

22
Q

The group that is elected by shareholders to govern and oversee management is the

board of directors
investment council
top management
governing board

A

board of directors

23
Q

The people hired by the board to run the company and operate it on a daily basis is

the administration
employee council
the management
the executive team

A

the management

24
Q

Boards have recently improved in all of the following ways except

more directors own stock in the company
more directors are independent
more boards are likely to demand change
reducing executive pay

A

reducing executive pay

25
Q

Directors who have some sort of ties to the firm are termed

dependent directors
outside directors
inside directors
independent directors

A

inside directors

26
Q

The discipline that deals with what is good and bad and with moral duty and obligation is

values
morality
ethics
business ethics

A

ethics

27
Q

Which of the following is not one of the major approaches to thinking about business ethics?

coventional approach
principles approach
ethical tests approach
rights and duties approach

A

rights and duties approach

28
Q

The approach to business ethics in which we compare a decision or practice to prevailing norms of acceptability is the

virtue approach
ethical tests approach
conventional approach
principles approach

A

conventional approach

29
Q

The minimum standard of ethical behavior can be thought of as

avoiding punishment
living according to religious principles
adhering to the law
following the Golden Rule

A

adhering to the law

30
Q

The challenge in all managerial situations is take what can be done and what should be done and find

the least coastly approach
a balance
the more practical solution
the most effective action

A

a balance

31
Q

Modern goals for business include all of the following except

fair pay
promoting the social welfare
a safe working environments
the equal employment opportunities

A

promoting the social welfare

32
Q

Which of the following is not a method that government uses to influence business?

regulation
taxation
lobbying
industrial policy

A

lobbying

33
Q

Government regulations have been criticized for all the following reasons except

being ineffective
being burdensome to business
being too extensive
being too costly

A

being ineffective

34
Q

The act of controlling business through laws passed by the government is called

reregulation
central planning
regulation
deregulation

A

regulation

35
Q

Which of the following is not a major reason given for governmental regulation?

controlling natural monopolies
maintaining trade surplus with foreign countries
controlling negative externalities
achieving social goals

A

maintaining trade surplus with foreign countries

36
Q

Method of ethical reasoning where benefits and costs are fairly distributed.

A

justice

37
Q

A cyber-crime where a branch manager siphoned almost a billion pesos.

A

Metro Bank

38
Q

Transfer of millions of $ from Bangladesh CB to a bogus local account

A

RCBC

39
Q

It seeks to preserve competition in the marketplace, thereby protecting consumers

A

antitrust laws

40
Q

Method of ethical reasoning where it aligns with good character.

A

virtues

Good Governance (3 decks)

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