Business Ethics (C717)
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Business Ethics (C717) OA Exam Questions & A+ Answers Latest Version
Free Business Ethics (C717) Questions
After the accounting scandals of the early 2000s, which of the following was/were enacted to restore confidence in financial reporting and business ethics
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Defense Industry Initiative on Business Ethics and Conduct
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Sarbanes-Oxley Act
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Federal Sentencing Guidelines for Organizations
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Foreign Corrupt Practices Act
Explanation
Correct answer:
B) Sarbanes-Oxley Act
Explanation:
The Sarbanes-Oxley Act (SOX) was enacted in 2002 to restore public confidence in financial reporting and business ethics after the accounting scandals of the early 2000s, including those involving Enron and WorldCom. The act includes provisions for stricter financial reporting, corporate governance, and accountability, with penalties for fraudulent financial activity.
Why the other options are wrong:
A) Defense Industry Initiative on Business Ethics and Conduct:
This initiative was established in the 1980s, prior to the early 2000s accounting scandals. It was focused on improving ethics in the defense industry, not financial reporting in general.
C) Federal Sentencing Guidelines for Organizations:
These guidelines were enacted earlier (in 1991) to provide a framework for sentencing organizations convicted of crimes, but they were not specifically enacted in response to the early 2000s accounting scandals.
D) Foreign Corrupt Practices Act:
This act was passed in 1977 to address bribery and corruption in foreign business dealings. It was not a direct response to the accounting scandals of the early 2000s, though it is an important part of U.S. business ethics law.
The principles and standards that determine acceptable conduct in business organizations are referred to as
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Business ethics
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Business regulations
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Business corruption
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Business creativity
Explanation
Correct answer:
a) Business ethics
Explanation:
Business ethics refers to the principles and standards that guide behavior within the business world. It involves ensuring fairness, transparency, and responsibility in decision-making, interactions with stakeholders, and corporate governance. Ethical business practices help maintain trust and credibility while preventing misconduct and legal issues.
Why the other options are wrong:
b) Business regulations: While regulations establish legal requirements, business ethics go beyond laws to define moral and responsible behavior in an organization.
c) Business corruption: Corruption is unethical behavior that violates business ethics rather than defining acceptable conduct.
d) Business creativity: Creativity in business refers to innovation and problem-solving, but it does not define ethical principles and standards.
Which of the following code of ethics should athletic trainers adhere to
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NATA Code of Ethics
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NCAA Code of Ethics
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APTA Code of Ethics
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AMA Code of Ethics
Explanation
Correct Answer:
a) NATA Code of Ethics
Explanation:
a) NATA Code of Ethics: Athletic trainers are expected to adhere to the National Athletic Trainers' Association (NATA) Code of Ethics, which provides guidelines for ethical practice in the field of athletic training.
Why the other options are wrong:
b) NCAA Code of Ethics: The NCAA Code of Ethics is relevant to organizations involved in college athletics but is not specifically directed at athletic trainers.
c) APTA Code of Ethics: The American Physical Therapy Association (APTA) Code of Ethics applies to physical therapists, not athletic trainers.
d) AMA Code of Ethics: The American Medical Association (AMA) Code of Ethics applies to medical doctors, not athletic trainers.
When making a responsible decision, __is often a good test
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regulation
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morality
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transparency
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penalty
Explanation
Correct answer:
B) morality
Explanation:
Morality serves as a key test when making responsible decisions because it helps ensure that decisions are made based on ethical principles, guiding what is right or wrong. Responsible decision-making often involves aligning actions with moral values, ensuring that they benefit society and stakeholders.
Why the other options are wrong:
A) regulation: While regulations are important for legal compliance, they do not always address the ethical considerations that are central to responsible decision-making.
C) transparency: Transparency is essential for accountability, but it is not a direct test of responsibility in decision-making. It's more about how the decision-making process is communicated.
D) penalty: Penalties are consequences of unethical behavior, not a test for responsible decision-making. The goal is to avoid penalties by making ethical choices from the outset.
Which of the following are true about ethics and the law
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Following the law is always the most ethical choice.
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It is possible for an action to be legal but unethical.
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The law ensures that all business practices are ethical.
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It is possible that the law does not align with ethics.
- Some ethical behaviors are illegal.
Explanation
Correct Answer:
It is possible for an action to be legal but unethical.
It is possible that the law does not align with ethics.
Some ethical behaviors are illegal.
Explanation:
It is possible for an action to be legal but unethical: Just because something is legal does not necessarily mean it is ethical. There are actions that may comply with the law but still be harmful, unfair, or morally wrong, such as exploiting legal loopholes.
It is possible that the law does not align with ethics: Laws can sometimes be outdated, biased, or insufficient in covering complex ethical issues. In such cases, the law may not always align with what is considered ethically right.
Some ethical behaviors are illegal: In some situations, ethical behavior might conflict with legal regulations. For example, whistleblowing to expose corruption may be ethically justified but could potentially be considered illegal in some jurisdictions.
Why the other options are wrong:
Following the law is always the most ethical choice: This is not necessarily true. Laws do not always reflect ethical standards, and what is legally permissible may not always be the best moral choice.
The law ensures that all business practices are ethical: The law sets a baseline of acceptable behavior but does not guarantee that all practices within it are ethical. Ethical behavior goes beyond compliance with the law and includes considerations of fairness, integrity, and social responsibility.
Rules of conduct that guide actions in the marketplace are known as ______
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norms
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codes
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business ethics
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policies
Explanation
Correct answer:
c) business ethics
Explanation:
Business ethics refers to the set of principles and rules that guide the behavior of individuals and organizations in the marketplace. It helps define what is considered acceptable conduct in business transactions and decision-making, focusing on honesty, fairness, and integrity.
Why the other options are wrong:
a) norms:
Norms are informal, socially accepted standards of behavior, but they do not specifically guide business conduct in the marketplace like business ethics does.
b) codes:
While codes (such as codes of conduct or ethics) are often used to formalize ethical guidelines, business ethics is a broader concept that encompasses the principles behind those codes.
d) policies:
Policies are specific guidelines set by an organization, often focusing on compliance and operations. While they are related to ethics, policies are not synonymous with business ethics, which is a broader set of principles governing conduct in business.
Someone who is trained about matters of ethics in the workplace, particularly about resolving ethical dilemmas, is called a(n) ______
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bias representative
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consensus agent
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business analytic
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ethics officer
Explanation
Correct answer:
D) ethics officer
Explanation:
An ethics officer is a professional in an organization who is responsible for overseeing and managing ethical issues, ensuring compliance with ethical standards, and helping resolve ethical dilemmas. They often provide guidance on ethical decision-making and ensure that the organization maintains a strong ethical culture.
Why the other options are wrong:
A) bias representative:
A bias representative is not a recognized role in the context of ethics management. The role described here is an ethics officer, whose job is focused on ethical issues, not on representing bias.
B) consensus agent:
A consensus agent may work to build agreement among various stakeholders but does not specifically focus on resolving ethical dilemmas. Their role is more about facilitating communication and agreement rather than addressing ethical issues directly.
C) business analytic:
A business analytic is typically focused on data analysis, not on ethics. This role involves analyzing business data for insights, not resolving ethical dilemmas or ensuring ethical conduct in the workplace.
Ethical or unethical behaviors by employees and managers in the context of their jobs are referred to as _______
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social norms
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morals
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values
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organizational customs
- business ethics
Explanation
Correct answer:
E) business ethics
Explanation:
Business ethics refers to the principles and standards that guide the behavior of employees and managers in a business environment. It encompasses the ethical or unethical actions taken in the context of their professional roles.
Why the other options are incorrect:
A) social norms:
Social norms refer to the accepted behaviors or customs within a society at large, not specifically in a business context.
B) morals:
Morals are personal principles regarding right and wrong but do not specifically refer to workplace behavior or the context of business.
C) values:
Values are personal beliefs or standards that guide behavior, but they are broader than just business contexts and don't focus on workplace ethics.
D) organizational customs:
Organizational customs are the routine practices or traditions within a business, but they do not specifically relate to the ethical nature of behaviors.
Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society
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Validity
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Justice
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Righteousness
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Equity
- Utilitarianism
Explanation
Correct answer:
B. Justice
Explanation:
Justice refers to the principle of fairness, where actions and decisions are made based on what is right according to society's standards. It involves ensuring that individuals or groups receive what they are due in accordance with established laws, principles, or norms.
Why the other options are incorrect:
A. Validity:
Validity refers to the accuracy or truth of something, often in a logical or legal context, but it is not directly related to fairness or societal standards of what is right.
C. Righteousness:
Righteousness refers to being morally right or justifiable, but it is more about personal virtue rather than what is generally agreed upon by society as fair.
D. Equity:
Equity refers to fairness and impartiality, often used in legal or financial contexts, but "justice" is the broader term that encompasses the idea of fairness in societal standards.
E. Utilitarianism:
Utilitarianism is a moral theory that emphasizes the greatest good for the greatest number. While it focuses on the consequences of actions, it does not directly relate to fairness in terms of societal standards.
One root cause of unethical behavior in business is
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societal culture with low power distance.
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pressure to meet unrealistic performance goals.
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management's ability to see beyond economic benefits.
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organizational culture that emphasizes business ethics.
- a strong sense of personal ethics.
Explanation
Correct answer:
B) pressure to meet unrealistic performance goals.
Explanation:
Unrealistic performance goals can lead employees to prioritize results over ethical considerations. This pressure may push individuals to engage in unethical practices, such as falsifying reports or cutting corners, in order to meet targets. When the emphasis is solely on achieving certain metrics, the focus on ethics can be sidelined.
Why the other options are wrong:
A) societal culture with low power distance:
A societal culture with low power distance means there is less hierarchy and more equality. While this may influence workplace dynamics, it is not typically a root cause of unethical behavior, as ethical issues are more often driven by pressures or incentives within the organization itself.
C) management's ability to see beyond economic benefits:
If management sees beyond economic benefits, it is likely to emphasize ethical practices and long-term sustainability. This would be a positive influence, rather than a root cause of unethical behavior.
D) organizational culture that emphasizes business ethics:
An organizational culture that emphasizes business ethics generally leads to ethical behavior, not unethical behavior. It fosters an environment where employees are more likely to make decisions aligned with ethical standards.
E) a strong sense of personal ethics:
A strong sense of personal ethics typically leads to ethical behavior in business. If employees have a strong ethical foundation, they are less likely to engage in unethical behavior, regardless of external pressures.
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Frequently Asked Question
Ethical challenges in global business include navigating different labor laws, cultural differences in business practices, environmental regulations, and ensuring fair trade and human rights protection in foreign markets.
Companies can balance these goals by focusing on sustainable growth, making decisions that consider the long-term impact on stakeholders, and investing in responsible practices that align with their values.
Unethical practices can severely damage a company’s reputation, lead to legal penalties, loss of customer trust, and decreased employee morale, all of which harm long-term profitability.
Marketing plays a key role in business ethics by ensuring that products and services are accurately represented to consumers. Ethical marketing avoids misleading claims, respects consumer privacy, and provides truthful information.
Businesses can integrate ethics by developing clear ethical guidelines, training employees, establishing strong leadership that values integrity, and fostering an open culture where ethical concerns can be addressed.