1. 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
A. leveraged C. negotiated
B. hostile D. management
2. According to your text, our main sources of ethical standards
are religion and
A. philosophy. C. culture.
B. social habit. D. circumstances.
3. It looks a lot like a corporation and can sell stock, but it’s
taxed like a partnership. This would be a/an
B. master limited partnership.
C. uniform liability partnership.
D. limited partnership.
4. Which statement about the Sarbanes-Oxley Act is true?
A. It offers some protection to whistleblowers.
B. It helps companies recycle paper.
C. It defines whistleblowers but doesn’t protect them.
D. Its stipulations apply to both publicly traded and private companies.
5. According to the influential economist Milton Friedman, corporate social responsibility is
primarily based on
A. meticulous care of the environment.
B. making money for shareholders.
C. repudiating insider trading.
D. making safe, high-quality products for consumers.
6. As derived from the Markkula Center for Applied Ethics, which of the following should
be one of eight guiding principles?
A. Compliance with the law in every situation
B. Doing good to those who deserve it
C. Respect for property
D. Preventing harm to others and to the world around us
7. The major disadvantage of a sole proprietorship is
A. having to make all the decisions.
B. having to share profits with relatives.
C. unlimited liability.
D. finding people to assist you in areas where your skills are weak.
8. 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.
A. market C. public
B. base D. resource
9. 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
A. gathering the facts.
B. listing alternative responsibilities.
C. recognizing that an ethical issue exists.
D. reflecting on your options.
Examination, Lesson 2 57
10. Which of the following statements about the Revised Uniform Partnership Act is correct?
A. It was established in 1902.
B. I has been adopted in all U.S. states.
C. It replaces the General Partnership Act of 1997.
D. It’s a default agreement for establishing such things as how partners will divide profit.
11. Respecting corporate social responsibility, Ronald McDonald Houses provides an
example of corporate
A. activism. C. sociability.
B. environmentalism. D. philanthropy.
12. Because what is legal may not be ethical, we should base our moral decisions on
A. universal C. effective
B. practical D. social
13. 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 best be
characterized as a/an
A. acquisition. C. horizontal merger.
B. cooperative. D. retail co-op.
14. In any company, _______ must guide and inspire the implementation and enforcement
of an ethics code.
A. employees C. the courts
B. managerial leadership D. federal regulatory agencies
15. 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.
A. rights C. virtue
B. justice D. common-good
16. 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.
A. accessory C. company
B. affiliated D. proprietary
58 Examination, Lesson 2
17. Which of the following is true about an S-corporation?
A. It must offer at least two classes of stock.
B. It’s created by the government.
C. It’s taxed like any other corporation.
D. It can have no more than 1,000 shareholders.
18. A social _______ is a systematic evaluation of a company’s progress in implementing
socially responsible programs.
A. inquiry C. program
B. code D. audit
19. 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.
A. Action C. Service
B. Response D. Share
20. 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
A. LLC company. C. C-corporation.
B. S-corporation. D. partnership.
21. A/An _______-based ethics code emphasizes preventing unlawful behavior through
controlling behavior and punishing wrongdoers.
A. legal C. practical
B. compliance D. integrity
22. Without doubt, the biggest disadvantage to franchising is
A. having to share profits with the franchisor.
B. pre-established local competition.
C. toughing it out as a sole proprietor.
D. the startup cost.
23. The idea of providing the greatest good for the greatest number would best apply to
the _______ approach to establishing ethical standards.
A. virtue C. utilitarian
B. common-good D. fairness
Examination, Lesson 2 59
24. Some equivalent of the Golden Rule, which says we should treat others the way we
wish to be treated, is found
A. only among some Christian denominations.
B. in all major religious and philosophical systems.
C. in Eastern but not, as a rule, in Western traditions.
D. in some religious traditions as well as in all philosophical systems.
25. Fair pay, respect for persons, and faithfully kept promises are characteristics of social
A. employees. C. customers.
B. shareholders. D. stakeholde
Can you help me with those answers. Here my answers......1a 2c3b4d5a6b8b9c8d9a10d1d12b13a14c15b16d17b18c19d20c21a22c23d24b25d
business - Anonymous, Thursday, March 8, 2012 at 11:00am
help me pls
business - Coty, Friday, March 9, 2012 at 11:32am
I am taking the same test as you. I have been working on these questions for 3 days and i had worked to dig the answers out of the book. You have a ton wrong
business - Anonymous, Monday, March 12, 2012 at 10:35pm
can u help me out them coty
business - 400, Sunday, April 15, 2012 at 1:51pm
business - missC, Wednesday, May 16, 2012 at 4:57pm
business - Lita, Monday, June 25, 2012 at 2:12pm
I would like to be able to email someone/ IM someone is willing to help each other with course. I finished this one already but now i am working on lesson 3. If your interested and having an study buddy please respond.
business - Tino, Friday, June 29, 2012 at 6:06pm
I'm taking the same course and I'm on lesson 3. I need a study buddy!!
business - shonda, Saturday, September 22, 2012 at 1:26pm
Regarding management and leadership, which statement is most accurate?
business - Nda, Sunday, October 7, 2012 at 4:05pm
I am also in need of a studybuddy
business101 - Kimberlie, Friday, November 9, 2012 at 2:24pm
does anyone know of a site that we can all join to discuss our class?
business - Anon, Sunday, March 17, 2013 at 10:37pm
•400, who posted on Sunday, April 15, 2012 at 1:51pm was correct!
business - Lena, Sunday, May 26, 2013 at 6:48pm
The answers are correct!
business - Mack, Thursday, July 4, 2013 at 9:45am
These are all right! Thanks 400!
business - franca, Wednesday, October 23, 2013 at 8:22pm
Answer are correct expect q12, i think is D
business - balling, Thursday, November 7, 2013 at 3:44am
Hey does any one have anymore answers to Introduction to Business exam... if so im also looking for a studybuddy
business - Kat, Sunday, November 10, 2013 at 5:17pm
Im on Lesson 2 Planning and leadership and im stuck on num 6 Can anyone help me. Which one of the following leadership stlyes could best charactertized by the statememt "let george do it"?
business - Anonymous, Sunday, November 17, 2013 at 3:22pm
Regarding management and leadership, which statement is most accurate?
business - ray, Monday, December 23, 2013 at 11:04pm
Is anyone currently in intro to bus. need a study partner?
business - meghan, Friday, February 14, 2014 at 3:36am
all 400 answers are correct
business - james, Monday, November 10, 2014 at 9:55am
they changed the answers on penn foster