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MShore Law, Attorney
Category: Business Law
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Experience:  Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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Which Of The Following Is The Most Accurate Statement?

Resolved Question:

1. Which of the following is the most accurate statement?

a. A small shareholder can never be held morally responsible for what a large corporation does.

b. One function of a corporate ethics audit will be to conduct a moral audit of the firm to ascertain if it is acting morally.

c. The principal purpose of a moral audit of the firm is to ensure that the company is acting in a legal manner.

d. A corporate code of ethics needs only to restate minimum legal principles and rules in its "practices" section.

2. Payments by representatives of Western Technology, Inc. to foreign government officials in exchange for favorable business decisions in foreign countries are best described as:

a. Always illegal under the U.S. Foreign Corrupt Practices Act since bribery is a serious legal wrong

b. Legal if they are "facilitating and expediting" payments

c. Always immoral based on ethics since bribery is a serious ethical wrong.

d. Legal if the foreign government official tells the company representatives that the payment is legal under the official's country's laws.

3. Which of the following statements is most accurate regarding the relationship of law and ethics?

a. The legal requirement will almost always be the same as the ethical requirement because the law is equivalent to the ethical standards.

b. In some cases ethics will require a higher standard of conduct than the law, but never the opposite.

c. In some cases the law will require a higher standard of conduct than ethics, but never the opposite.

d. Depending on the circumstances, the law can require a higher, lower, or the same standard of conduct as ethics demands.

4. Edward Executive makes $100,000 a year. Ned Newguy, a recent business school graduate, is willing to do Ed's job for $55,000. Ed has been with the company for 30 years. In a cost-saving move, the company fires Ed and replaces him with the younger and cheaper Ned Newguy. This action could be

a. Illegal

b. Immoral pursuant to Kantian ethics

c. Moral pursuant to Ethical Egoism

d. All of the above.

5. International Sales Corporation, like other business, has enforceable duties prescribed by

a. Ethics and the law

b. Ethics only

c. Neither ethics nor the law

d. The law only

6. As to why a company should be a socially responsible one and get involved in civic and charitable affairs, Socrates would likely argue:

a. Justice is the will of the stronger.

b. Money comes from virtue.

c. Ignorance of the law is no excuse.

d. Virtue comes from money.

7. Delta Equity Corporation provides other firms with capital to expand operations. If Delta strictly complies with existing laws, the firm likely will

a. Fulfill all business ethics obligations

b. Fulfill no business ethics obligations

c. Fulfill some business ethics obligations.

d. Fulfill all social responsibility obligations

8. Which of the following cause problems in determining whether an action is legal?

a. A large number of ethical theories

b. Too general definitions of "corporate social responsibility"

c. A lack of lawyers

d. None of the above

9. A spray paint company discovers that its products are being misused by children and young people, who get "high" sniffing the fumes. There are no warning labels on the spray paint cans. The company would be best deemed to have what type(s) of obligation and duty to take steps to protect children and young people?

a. An ethical obligation but not a legal duty

b. A legal obligation but not an ethical obligation

c. Both an ethical obligation and a legal duty

d. Neither an ethical obligation nor a legal duty.

Submitted: 3 years ago.
Category: Business Law
Expert:  MShore Law replied 3 years ago.
Thank you for the post, I am happy to assist you by answering your questions.
1. d
2. a
3. d
4. a
5. d
6. b
7. a
8. d
9. c
MShore Law, Attorney
Category: Business Law
Satisfied Customers: 25285
Experience: Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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