Chapter 4 Practice Quiz – Flashcards
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All businesses have the capacity to cause harm to employees, customers, other companies, their communities, and investors. True or False
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True
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Business and society are mutually dependent; therefore, choices that weaken one or the other will ultimately weaken both. True or False
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True
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Corporate social responsibility (CSR) embodies the concept that a business has obligations to society beyond the pursuit of profit. True or False
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True
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Ethics are principles and standards of moral behavior that are accepted by society as "right" or "wrong." True or False
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True
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In ________ CSR, company leaders believe they have responsibilities beyond making a profit, and they back up their beliefs and proclamations with actions taken on their own initiative.
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proactive
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President John F. Kennedy announced a "bill of rights" for consumers, laying the foundation for a wave of consumer-oriented legislation. True or False
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True
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The Civil Rights Act of 1991 amended the original act, and ________.
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gave employees the right to have a trial by jury in discrimination cases
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The Occupational Safety and Health Act of 1970 set mandatory standards for safety and health and established the Occupational Safety and Health Administration (OSHA) to enforce them. True or False
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True
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The idea that a business has obligations to society beyond the pursuit of profits is ________.
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corporate social responsibility
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The manager of a golf course awards a landscaping contract to his brother-in-law's company, even though another company was willing to do the same work for less money. This is an example of ________.
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conflict of interest
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The term "disability," as used in the federal Americans with Disabilities Act, means only those people with physical handicaps, such as hearing or vision loss or loss of mobility. True or False
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False
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________ are the principles and standards of moral behavior that are accepted by society as right versus wrong.
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Ethics
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Which of the following federal legislations limits cardholder liability for unauthorized use?
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Truth in Lending Act (Consumer Protection Credit Act) (1968)
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What is the meaning of the term "consumerism"?
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pressuring businesses to consider consumer needs
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Compare and contrast ethical lapse and ethical dilemma?
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The term ethical lapse refers to the situation in which an individual or group makes a decision that is morally wrong, illegal, or unethical. If you choose the wrong course, such as cheating on your taxes or stealing from your employer, you commit an ethical lapse. The choices were clear, and you made the wrong one. The term ethical dilemma refers to the situation in which more than one side of an issue can be supported with valid arguments. It is a situation in which you must choose between conflicting but arguably valid options, or even situations in which all your options are unpleasant.
