Ethics and Compliance in Business
Midterm Exam
Course Introduction
This course explores the fundamental principles of ethics and compliance within the business context, examining how organizations develop, implement, and monitor ethical standards and regulatory requirements. Students will engage with case studies highlighting real-world dilemmas, legal frameworks, and ethical decision-making models that influence corporate behavior. Key topics include corporate social responsibility, codes of conduct, whistleblower protections, risk management, and the role of leadership in fostering an organizational culture of integrity. By the end of the course, students will understand how ethical practices and compliance programs contribute to sustainable business success and the prevention of misconduct.
Recommended Textbook Business Ethics Now 5th Edition by Andrew Ghillyer
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10 Chapters
1029 Verified Questions
1029 Flashcards
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Chapter 1: Understanding Ethics
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114 Verified Questions
114 Flashcards
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Sample Questions
Q1) Universal ethics argues that:
A)societies can place different emphasis on different virtues.
B)universal principles may not apply to everyone, everywhere, all the time.
C)there are certain principles that should apply to all ethical judgments.
D)everyone is committed to doing the right thing.
Answer: C
Q2) Amanda and Ross have been chosen to go to Ethiopia for their university's International Student Exchange Program. They read about the beliefs, attitudes, practices, norms, traditions, cuisine, and music of Ethiopia to better adapt to the place. Amanda and Ross are reading about the _____ aspect of Ethiopia.
A)cultural
B)economical
C)political
D)philosophical
Answer: A
Q3) An ethical dilemma can be resolved with a satisfactory answer to the problem. A)True
B)False
Answer: False
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Page 3
Chapter 2: Defining Business Ethics
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) In the context of business ethics, the _____ perspective is a summation of the customs, attitudes, and rules that are observed within a business.
A)descriptive
B)normative
C)preventative
D)prescriptive
Answer: A
Q2) Over the last five decades, corporate ethics has moved from the domain of human resource departments into the _____.
A)legal department
B)finance and accounting department
C)talent management portfolio
D)organizational mainstream
Answer: D
Q3) Corporate ethics has moved from the domain of legal and human resource departments into the _____ with the appointment of corporate ethics officers with clear mandates.
Answer: organizational mainstream
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Chapter 3: Organizational Ethics
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) The accounting function provides the certification, by an impartial third-party professional, that an organization's financial statements are accurate.
A)True
B)False
Answer: False
Q2) The last resort for ethical guidance in an accounting profession is the Code of Ethics issued by the _____.
Answer: American Institute of Certified Public Accountants
Q3) For a research and development (R&D) team, the real ethical dilemmas come when decisions are made about product quality.
A)True
B)False
Answer: True
Q4) The accounting profession is governed by a set of laws and established legal precedents.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Corporate Social Responsibility
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) Which of the following is an example of an organization's instrumental approach to corporate social responsibility (CSR)?
A)Anonymous Minds, an advertising firm, provides employees with healthy meals and has a gymnasium at their workplace.
B)Anderson Inc. provides employees with cab services or gives them full fuel allowance.
C)Larsen's Corp., an investment company, uses different mechanisms to increase profits and has performance incentives for its employees.
D)GreenSpin Inc. uses biodegradable plastic containers in its office cafeteria.
Q2) The approach that considers a company's social, financial, and environmental impact rather than focusing solely on its financial impact is the _____ approach.
A)corporate governance
B)double bottom-line
C)ethical governance
D)triple bottom-line
Q3) Corporate citizenship is an element of corporate social responsibility (CSR).
A)True
B)False
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6
Chapter 5: Corporate Governance
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105 Flashcards
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Sample Questions
Q1) Explain the "comply or explain" guideline. Why did the "comply or else" policy come into force?
Q2) Corporate governance is the process by which _____.
A)the revenue assets of a business are fixed
B)corporations are nationalized by the government
C)the government is monitored by corporations
D)corporations are directed and controlled
Q3) The "comply or explain" methodology refers to the set of guidelines that requires companies to abide by a set of operating standards or face stiff financial penalties.
A)True
B)False
Q4) The "_____" approach to corporate governance gave companies the flexibility to comply with governance standards or explain their noncompliance in their corporate documents.
Q5) The _____ committee of an organization is responsible for monitoring the financial policies and procedures of the organization.
Q6) Does a commitment to good corporate governance affect a company's profitability?
Q7) What is corporate governance? Why it is important?
Page 7
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Chapter 6: The Role of Government
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Under the Federal Sentencing Guidelines for Organizations, a judge has the discretion to impose a so-called death penalty upon an organization, where the fine matches all the organization's assets.
A)True
B)False
Q2) The Foreign Corrupt Practices Act focuses on disclosure, which requires corporations to fully reveal any and all transactions conducted with foreign officials and politicians, in line with the Securities and Exchange Commission provisions.
A)True
B)False
Q3) Which of the following did the government formulate to penalize corporate wrongdoing?
A)The Glass-Steagall Act
B)The Sarbanes-Oxley Act
C)The Gramm-Leach-Bliley Act
D)The Taft-Harley Act
Q4) Under the Sarbanes-Oxley Act, any public accounting firms that audited the records of publicly traded companies were required to register with the _____.
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Chapter 7: Blowing the Whistle
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) The federal Civil False Claims Act prevents whistle-blowers from implicating the government in any way.
A)True
B)False
Q2) For a whistle-blower hotline to work, trust must be established between employees and their _____.
Q3) Internal whistle-blowing occurs when an employee discovers corporate misconduct within his or her organization and brings it to the attention of law enforcement agencies and/or the media.
A)True
B)False
Q4) It is argued that the actions of whistle-blowers are not always motivated by their integrity, but by money or by their egos.
A)True
B)False
Q5) Compare the Whistleblower Protection Act of 1989 and the Sarbanes-Oxley Act of 2002.
Q6) The federal Civil False Claims Act is also known as "_____ Law."
Q7) The Whistleblower Protection Act of 1989 applied only to _____ employees.
Page 9
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Chapter 8: Ethics and Technology
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Advances in technology make it harder for employers to assign work to their employees outside the workplace.
A)True
B)False
Q2) Employers feel it necessary to monitor employees at the workplace because they have an obligation to their stakeholders to operate as efficiently as possible.
A)True
B)False
Q3) Vicarious liability is a legal concept that means a party may be held responsible for injury or damage only if he or she were actively involved in an incident.
A)True
B)False
Q4) According to Adam Moore, if jobs are plentiful and an employee would have no difficulty in finding another position, then the consent given to a company's monitoring policy is _____ consent.
Q5) Information, once digitized, cannot be sent over a fiber-optic cable.
A)True B)False
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Chapter 9: Ethics and Globalization
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100 Flashcards
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Sample Questions
Q1) An organization can move its ethical commitment to a global scale successfully by:
A)creating an ethical standard that respects the local customs of other countries.
B)increasing the scale of their policies and procedures to a higher degree than in other countries.
C)translating all their existing policies into the local language of the countries in which they will operate.
D)working in the absence of standard ethical policies wherever possible.
Q2) Ethical relativism refers to a philosophy that dictates that individuals must only make such choices that offer the greatest good for the greatest number of people.
A)True
B)False
Q3) The UN Global Compact states that businesses should:
A)support a precautionary approach to environmental challenges.
B)avoid involvement in the environmental concerns of other nations.
C)avoid selling their products to the people of less-developed nations.
D)support the employment of children in sweatshop production facilities.
Q4) What are the advantages and disadvantages of globalization?
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11
Chapter 10: Making It Stick: Doing Whats Right in a Competitive Market
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Which of the following actions is most likely to lead to the promotion of an organization's commitment to ethical behavior?
A)Sharing the organization's success stories exclusively with its employees
B)Responding to errors related to transactions after the clients approach the organization
C)Limiting the participation in Ethics Day celebrations solely to the employees
D)Allowing employees to visit client sites to talk about the organization's code of ethics
Q2) What are the functions of a well-written code of ethics?
Q3) A well-written code of ethics can capture what an organization understands ethical behavior to mean.
A)True
B)False
Q4) Sustainable ethics in a culture are those that persist within the operational policies of the organization long after the latest public scandal or the latest management buzzword.
A)True
B)False
Q5) The audience for the code of ethics would be every _____ of the organization.
Page 12
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