Mgt CH 5

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Personal values and moral character play key roles in improving a company’s ethical performance.


In most companies, a moral atmosphere cannot be detected.


In a benevolence ethical climate, the interests of the company’s employees and external stakeholders most likely would be given high priority.


Managers, as major decision-makers, are one of the keys to whether a company will act ethically or unethically.


It is impossible for multiple ethical climates to exist within one organization.


All ethics issues in business are the same.


Honesty, integrity and accuracy are absolute requirements of the accounting function.


The American Institute of Certified Public Accountants Code directs accountants to be responsible to their clients and their profession, but not to the public.


Any business that wished to do so can improve the quality of its ethical performance.


The majority of large U.S. corporations do not have codes of ethics.


In the United States, most ethics policies are primarily based on the company’s mission and vision.


According to a recent Transparency International survey, Denmark and Sweden are two countries that are least likely to be subjected to bribery.


Ethics deal with human dilemmas that frequently go beyond the formal language of law.


Following laws can always define proper action.


Illegal acts committed by employees, such as fraud and insider trading, is called blue-collar crime.


The core components upon which a company’s ethical performance depends include:

D) All of the Above A. The values and virtues of the managers. B. The personal character of the managers and employees. C. The traditions, attitudes, and business practices built into a company’s culture.

The unspoken understanding among employees of what is and is not acceptable behavior is called:

A) Ethical climate.

If a manager approaches ethical issues with a self-centered approach, emphasis will be on:

C) Economic efficiency.

Which of the following is not an example of an ethical criterion?

D) Corporate driven.

If a manger approaches ethics with benevolence in mind, he or she would stress what?

A) Friendly relations with an employee.

Which ethical criterion is described by the idea that a company should strive for efficiency?

A) Egoism

By law, the financial records of publicly held companies are required to be:

D) Audited by a certified professional accounting firm.

All of the following are commitments of the Principles of the Code of Professional Conduct of the American Institute of Certified Public Accountants except:

C) Due Process.

A member of the Chartered Financial Analyst Institute (CFA) must:

D) All of the Above A. Promote the integrity of and uphold the rules governing global capital markets. B. Act with integrity, competence, diligence, respect, and in an ethical manner with the public. C. Maintain and improve their professional competence.

When a bank employee makes trades using the firm’s money without its authorization, the practice is called:

B) Rogue trading.

Which of the following organization’s code of ethics advocates "loyalty to your organization, justice to those whom you deal and faith in your profession?"

A) Institute for Supply Management.

Building ethical safeguards into a company’s everyday routines is called:

C) Institutionalizing ethics.

A company that channels employee behavior in a lawful direction by emphasizing the threat of detection and punishment is:

A) Operating under the compliance-based approach.

Integrity-based ethics programs:

B) Combines concern for the law with an emphasis on employee responsibility.

A giant step is taken toward improving ethical performance throughout the company when:

C) Senior-level managers signal to employees that they believe ethics is a high priority.

Business managers need a set of ethical guidelines to help them:

C) Identify and analyze the nature of the ethical problem.

In the United States and Latin America, ethics policies were found to be primarily:

B) Instrumental – providing rules and procedures for employees to follow to adhere policy and law.

Ethics policies typically cover all of the following issues except:

B) Encouraging discriminatory personnel practices.

Most ethics or compliance officers are generally entrusted to:

B) Reduce the risks to the company of employee misconduct.

Ethics reporting mechanisms have been:

D) Both A and B, but not C. A. Established to create an avenue for the company to obtain allegations of unethical conduct. B. Increasing in employee use and effectiveness.

Which of the following is not a typical use of an ethics reporting mechanism?

B) To give employees an opportunity to discuss the appropriate rating on their annual performance reviews without management’s influence.

Typically, ethics training is offered to:

A) Managers.

Which of the following is a typical practice in an ethics audit procedure?

D) All of the Above A. The auditor notes any deviations from the company’s ethics standards that become evident during the ethics audit. B. The auditor brings deviations to the attention of the audit supervisor. C. Department managers are required to file a report with the auditor on the corrective action they took to deal with the deviation.

The critical component in installing an effective ethics program is:

C) The integration of various ethics safeguards into a comprehensive program.

Ethisphere Magazine recognizes and rewards ethical leadership and business practices worldwide according to their:

D) Ethical Quotient (EQ).

Recipients of the corporate ethics awards show that:

B) Firms can be financially successful and ethically focused.

One of the most widespread and potentially powerful efforts to combat bribery was initiated by:

B) The Organization for Economic Cooperation and Development.

Which U.S. Act prohibits executives representing U.S.-based companies from paying bribes to foreign government officials, political parties, or political candidates:

D) The U.S. Foreign ¬Corrupt Practices Act.

The Interactive Digital Software Association case exemplifies:

D) All of the Above A. The idea that laws can not always define proper action. B. The idea that ethical principles are broader than laws. C. Industries preempting legislation and voluntarily adopting ethically based practices.

Which of the following is not an example of a white-collar crime?

C) Theft.

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