Ethics and Legal Responsibilities #1
Timothy is working with a trucking company. A contract is written between him and the company to provide the company with trucks by a certain deadline. It turns out that Timothy never had the money and was actually unable to provide them. What may Timothy receive as a result?
A. Rewards
B. Legal penalties
C. Promotions
D. Tax reductions
B. Legal penalties
Emily is writing a layout for her business's ethical conduct. What is one of the aspects that she should cover?
A. Dishonesty
B. Accountability
C. Secrecy
D. Manipulation
B. Accountability
Recently, a company has started enforcing their code of ethics in a much more strict way. What is likely to happen as a result of this change?
A. Gain public trust
B. Lose customers
C. Break laws
D. Avoid responsibility
A. Gain public trust
Recently, a company has been experiencing a large amount of controversy after a former employee exposed their unethical policies. What may this lead to?
A. Increased trust
B. Legal consequences
C. Better teamwork
D. Higher morale
B. Legal consequences
Justin is trying his best to get promoted at his office job. Which one of these is something he can do to exhibit ethical behavior.
A. Falsifying records
B. Avoiding regulations
C. Misleading stakeholders
D. Honoring agreements
D. Honoring agreements
State lawmakers have gathered at a meeting in order to amend existing business laws. Which of the following purposes should they ensure when writing?
A. Encourage unfair practices
B. Provide structure and fairness
C. Reduce accountability
D. Eliminate risks entirely
B. Provide structure and fairness
A new arrival comes in for their first day of work. What should they refer to when they want to see the ethical policies of the company?
A. Financial reports
B. Marketing plans
C. Code of ethics
D. Tax returns
C. Code of ethics
David is starting a new company, and is tasked with writing regulations for the company. For what purpose should he write these for?
A. To limit all profits
B. To increase taxes
C. To eliminate competition
D. To ensure fair practices
D. Ensure fair practices
Kevin is the CEO of a manufacturing company. He has met up with a competitor in order to make deals. What should he do in order to ethically conduct the negotiation?
A. Withhold important information
B. Give mutual respect
C. Impose aggressive tactics
D. Ignore agreements
B. Give mutual respect
Devin is planning to do a partnership with another company. Which of the following could the other company do to unethically ruin the negotiation?
A. Give honest communication
B. Make a fair compromise
C. Provide false information
D. Respect agreements
C. Provide false information
Ethan is writing a paper for a paper in law school. What is an example he can use of applying law in business?
A. Following wage regulations
B. Ignoring labor laws
C. Avoiding contracts
D. Misreporting earnings
A. Following wage regulations
Sydney needs an organization to assist in ensuring equal opportunity in hiring. Which of the following would he require.
A. Federal Reserve
B. SEC
C. IRS
D. EEOC
D. EEOC
Graham is writing a paper on the US federal government. Which of the following should he write as a responsibility of the Federal Reserve?
A. Enforcing anti-discrimination laws
B. Managing interest rates
C. Writing business codes of ethics
D. Handling employment disputes
B. Managing interest rates
You are in the middle of an intense business negotiation, what would be the most ethical way to proceed?
A) Hiding important information from the other party
B) Being honest and transparent
C) Making false promises to close the deal
D) Ignoring the other party’s concerns
B) Being honest and transparent
While making your business you're asked to make your code of ethics, what answer best describes code of ethics while working in the field of business?
A) A list of company products
B) A set of guidelines for ethical behavior
C) A financial report
D) A marketing plan
B) A set of guidelines for ethical behavior
While hiring for your new company you have to decide who of the following is NOT protected under the EEOC guidelines
A) Race
B) Gender
C) Religion
D) Weight
D) Weight
Your boss is trying to exhibit ethical standards, why might he be doing this?
A) To avoid paying taxes
B) To build trust and long-term relationships
C) To reduce competition
D) To increase short-term profits only
B) To build trust and long-term relationships
While in the middle of changing your business model you have to make a big decision, how can you best comply with ethical standards?
A) Prioritize profit over all else
B) Consider the impact on all stakeholders
C) Avoid legal compliance to save money
D) Focus only on short-term gains
B) Consider the impact on all stakeholders
While making a business decision what would be the most unethical decision to make?
A) Ignoring conflicts of interest
B) Consulting with stakeholders
C) Following company code of ethics
D) Considering legal requirements
A) Ignoring conflicts of interest
After experiencing workplace discrimination, an employee files a complaint and asks which federal agency enforces laws against workplace discrimination?
A) Federal Reserve System
B) Equal Employment Opportunity Commission (EEOC)
C) Securities and Exchange Commission
D) Federal Trade Commission
B) Equal Employment Opportunity Commission (EEOC)
A company employee believes they have been treated unfairly due to discrimination and decides to file a complaint. Which of the following is a responsibility of the Equal Employment Opportunity Commission?
A) Regulating interest rates
B) Investigating complaints of workplace discrimination
C) Setting federal tax rates
D) Issuing business licenses
B) Investigating complaints of workplace discrimination
After a failed merger your company gets sued for breach of contract , what does that mean?
A) Completing a contract early
B) Failing to fulfill the terms of a contract
C) Negotiating a new contract
D) Signing a contract
B) Failing to fulfill the terms of a contract
At the end of the year your company is going under regulation changes and must comply with the federal reserve system. How is the federal reserve system affecting your business?
A) Regulating monetary policy and controlling the money supply
B) Enforce labor laws
C) Oversee workplace safety
D) Manage business contracts
A) Regulating monetary policy and controlling the money supply
When calculating your companies next year of profits you have to figure out the federal reserve system affects the economy?
A) Employment laws
B) Trade tariffs
C) Environmental regulations
D) Interest rates and reserve requirements
D) Interest rates and reserve requirements
In a business negotiation, a company representative is faced with several options on how to conduct themselves. Which of the following actions best demonstrates ethical behavior in this situation?
A) Manipulating facts to gain advantage
B) Pressuring the other party to accept unfair terms
C) Respecting confidentiality and fairness
D) Concealing contract terms
C) Respecting confidentiality and fairness