100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Test Bank For Business Law Text & Cases Commercial Law for Accountants 14th Edition by Roger LeRoy Miller £24.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. Business Law - Test Bank
  4.  
  5. Business Law - Test Bank
  6.  
  7. Business Law - Test Bank

Exam (elaborations)

Test Bank For Business Law Text & Cases Commercial Law for Accountants 14th Edition by Roger LeRoy Miller
 0 purchase

True / False 1. Unlike most agents, each partner in a partnership has an ownership interest in the business. a. True b. False ANSWER: True 2. A partnership is a voluntary association of individuals. a. True b. False ANSWER: True 3. Most states treat a partnership ...

[Show more]

Preview 4 out of 387  pages

Document information

  • October 1, 2023
  • 387
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • business law test bank
  • test bank for business law text cases commercia
  • test bank for business law text cases
  • test bank for business law text
  • test bank for business law

Written for

All documents for this subject (9)

Seller

avatar-seller
ExamsExpert

Reviews received

Content preview

,Name Clas Dat
: s: e:

Chapter 01: Business Ethics
True / False

1. Unless a corporation violates a law, its actions do not raise questions about corporate ethics.
a. True
b. False
ANSWER: False

2. Ethics is the study of the principles and conduct that guide business decision making based on what is right and good.
a. True
b. False
ANSWER: True

3. Business ethics looks at the decisions that businesses make or have to make and whether those decisions are right or
wrong.
a. True
b. False
ANSWER: True

4. Ethics is as clearly defined as the law.
a. True
b. False
ANSWER: False

5. Focusing on a firm's short-run profits without considering the company’s longterm needs may be acting unethically.
a. True
b. False
ANSWER: True

6. It may be unethical for a company to refuse to negotiate liability claims for alleged injuries because of a faulty product.
a. True
b. False
ANSWER: True

7. The legality of an action is always clear.
a. True
b. False
ANSWER: False

8. Adhering strictly to all business laws is all that is necessary to fulfill all business ethics obligations.
a. True
b. False
ANSWER: False

9. The study of ethics goes beyond legal requirements to evaluate what is right for society.

Copyright Cengage Learning. Powered by Cognero. Page 1

,Name Clas Dat
: s: e:

Chapter 01: Business Ethics

a. True
b. False
ANSWER: True

10. If an action is legal, it is ethical.
a. True
b. False
ANSWER: False

11. If people merely comply with the law, they are acting at the lowest ethical level society will tolerate.
a. True
b. False
ANSWER: True

12. An action may be legal but not ethical.
a. True
b. False
ANSWER: True

13. Acting in good faith gives a business firm a better chance of defending its actions in court.
a. True
b. False
ANSWER: True

14. Ethical reasoning is the process through which an individual links his or her moral convictions or ethical standards to
the particular situation at hand.
a. True
b. False
ANSWER: True

15. Duty-based ethical standards often come from religious precepts.
a. True
b. False
ANSWER: True

16. Religious rules generally are absolute with respect to the behavior of their adherents.
a. True
b. False
ANSWER: True

17. A company that acts ethically, or in good faith, has a stronger position in litigation than a company that does not.
a. True
b. False
ANSWER: True
Copyright Cengage Learning. Powered by Cognero. Page 2

, Name Clas Dat
: s: e:

Chapter 01: Business Ethics


18. Under the principle of rights theory, one person’s principles are as “right” as another’s.
a. True
b. False
ANSWER: False

19. In ethical terms, a cost-benefit analysis is an assessment of the negative and positive effects of alternative actions on
individuals.
a. True
b. False
ANSWER: True

20. According to utilitarianism, it does not matter how many people suffer a negative effect from an act.
a. True
b. False
ANSWER: False

21. The concept of corporate social responsibility is imposed on corporations by law.
a. True
b. False
ANSWER: False

22. Corporations can be viewed as “citizens” that are expected to participate in bettering society.
a. True
b. False
ANSWER: True

23. Corporations can be perceived as owing ethical duties to groups other than their shareholders.
a. True
b. False
ANSWER: True

24. In a corporation, managers are often faced with ethical trade-offs when a certain decision will benefit one group, but
harm another.
a. True
b. False
ANSWER: True

25. Sometimes, there is no “good” answer to the ethical questions that arise.
a. True
b. False
ANSWER: True

26. Management’s behavior sets the ethical tone of a firm.

Copyright Cengage Learning. Powered by Cognero. Page 3

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsExpert. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £24.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

65630 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 15 years now

Start selling
£24.49
  • (0)
Add to cart
Added