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2. An organization is expected to provide a culture of ____________.
Answer
Correct Answer:
Safety
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3. In practice, sustainable business has ______ inter-related spheres.
Answer
Correct Answer:
Three
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4. Corporate ______ is an approach to business in which corporations take a lead role in fulfilling the rights of a society’s citizens.
Answer
Correct Answer:
Citizenship
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5. The right of consumers to voice their concerns about products and services, and to have those concerns resolved in a fair and timely manner is the right to ______.
Answer
Correct Answer:
Be heard
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6. ______ refers to working together to negotiate terms of employment with employers.
Answer
Correct Answer:
Collective bargaining
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7. The 2002 Sarbanes-Oxley Corporate Fraud Accountability Act requires a company’s ______ to certify the accuracy of the company’s financial statements and other financial filings.
Answer
Correct Answer:
Chief Executive Officer and Chief Financial Officer
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8. ______ occurs when directors and managers rather than shareholders control the company’s decisions and direction.
Answer
Correct Answer:
Managerial capitalism
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9. Shareholders are the ______, or people of importance.
Answer
Correct Answer:
Principals
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10. A company’s ______ are one of its most influential stakeholder groups.
Answer
Correct Answer:
Owners/shareholders
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11. All of the following are examples of secondary stakeholders, except ______.
Answer
Correct Answer:
Suppliers
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12. Stakeholders with which the company has regular commercial interactions, such as customers, employees, suppliers, and capital providers (e.g., banks, shareholders) are known as ______ stakeholders.
Answer
Correct Answer:
Primary
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13. The area of law that imposes legal liability on those who cause harm to others and provides relief to those who are harmed is called?
Answer
Correct Answer:
Tort law
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14. Sustainable business is an approach to business in which companies seek to have a positive impact on the _____ ?
Answer
Correct Answer:
All of the above
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15. Strict liability is the legal doctrine that a person or organization can not be found legally liable for the consequences of their actions when they are not at fault.
Answer
Correct Answer:
Flase
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16. An individual or organization that influences and is influenced by the company is known as?
Answer
Correct Answer:
Stakeholder
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17. What are the rights of a company's shareholders?
Answer
Correct Answer:
All of the above
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18. A person who owns shares in the company is known as?
Answer
Correct Answer:
Shareholder
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19. A person who owns the company is known as a shareholder.
Answer
Correct Answer:
Flase
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20. Shareholder is a form of capitalism in which Directors and managers control the company’s decisions and direction.
Answer
Correct Answer:
False
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21. Secondary stakeholders are the stakeholders that interact with the company _____ than primary stakeholders.
Answer
Correct Answer:
Less Frequently
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22. Secondary stakeholders are the stakeholders that interact with the company more frequently than primary stakeholders, and often on a commercial basis.
Answer
Correct Answer:
False
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23. The consumer right to products that present no foreseeable harm to health and life is called?
Answer
Correct Answer:
Right to safe products and services
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24. The right to have one’s personal information protected from public view.
Answer
Correct Answer:
Right to privacy
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25. The right to transact in a competitive rather than an anticompetitive marketplace is known as?
Answer
Correct Answer:
Right to choose
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26. The right of consumers to complete and truthful information about products and services, including their foreseeable consequences is called?
Answer
Correct Answer:
Right to be informed
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27. The right of consumers to voice their concerns about products and services and to have those concerns resolved in a fair and timely manner is called?
Answer
Correct Answer:
Right to be heard
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28. The person who has the _____ on a company’s net cash flow after the deduction of all other persons’ claims is called a residual claimant.
Answer
Correct Answer:
Last claim
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29. In a tort case, an event that is deemed to have caused an injury is called proximate cause.
Answer
Correct Answer:
True
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30. The legal doctrine that a contract may impose _____ only on the parties to the contract and not on third parties is called privacy of contract.
Answer
Correct Answer:
Both a and b
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31. The fiduciary relationship between the board of _____ that oversee the company to act as agents of shareholders.
Answer
Correct Answer:
Both a and b
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32. Principal-agent problem is the problem that a director or a manager of a corporation fulfills his or her fiduciary duty to work on behalf of the shareholders.
Answer
Correct Answer:
False
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33. Stakeholders with which the company has regular commercial interactions are known as?
Answer
Correct Answer:
Primary stakeholders
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34. Planetary boundaries is a theoretical framework that identifies the earth systems processes that make human life possible.
Answer
Correct Answer:
True
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35. Moral minimum is a set of minimum ethical standards that a person does not have to follow in all circumstances.
Answer
Correct Answer:
False
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36. Mergers and acquisitions are types of transactions in which the ownership of businesses is Split up.
Answer
Correct Answer:
False
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37. Managerial is a form of capitalism in which directors and managers control the company’s _____ .
Answer
Correct Answer:
All of the above
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38. Managerial capitalism is a form of capitalism in which _____ rather than shareholders, control the company’s decisions and direction.
Answer
Correct Answer:
Both a and b
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39. In tort cases, the responsibility of a _____ to reimburse the plaintiff for harm caused to him or her.
Answer
Correct Answer:
Defendant
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40. In tort cases, the responsibility of an Accused to reimburse the plaintiff for harm caused to him or her is called Liability.
Answer
Correct Answer:
True
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41. Just cause is an exception to at-will employment, specifying that an employer must have a good reason for _____ an employee.
Answer
Correct Answer:
Firing
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42. Select the incorrect statement about informed consent permissions?
Answer
Correct Answer:
Customer does not know about the consequences of the service.
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43. The ability to reasonably _____ the negative consequences of an action is called Foreseeability of harm.
Answer
Correct Answer:
All of the above
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44. Fiduciary duty is a duty of trust.
Answer
Correct Answer:
True
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45. An approach to business characterized by exceeding legal compliance in order to make stakeholders and society better off is known as?
Answer
Correct Answer:
Corporate social responsibility
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46. The structures and processes used to direct and control a corporation are called?
Answer
Correct Answer:
Corporate governance
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47. An approach to business in which corporations take a lead role in fulfilling the rights of a society’s citizens is called
Answer
Correct Answer:
Corporate citizenship
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48. Contributory negligence is an approach in tort law that apportions responsibility between the _____ when both are found to have been negligent.
Answer
Correct Answer:
Plaintiff and Defendant
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49. Legal cooperation between companies is known as Collusion.
Answer
Correct Answer:
False
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50. Civil disobedience are the activities in which individuals _____ fail to comply with laws they believe are unethical as a form of protest against those .
Answer
Correct Answer:
Intentionally
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51. Civil disobedience are the activities in which individuals unintentionally fail to comply with laws they believe are unethical as a form of protest against those laws.
Answer
Correct Answer:
Flase
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52. Cartel is a group of seemingly independent companies that collude to set prices or restrict output for the purpose of _____ profits.
Answer
Correct Answer:
Increasing
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53. Select the correct statements for At Will employment:
Answer
Correct Answer:
Employers may fire employees at their discretion.
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54. The defense in tort cases that the plaintiff was aware of and voluntarily assumed the risks associated with a product or service.
Answer
Correct Answer:
Aware of and voluntarily
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55. The Anthropocene is the current geological period, in which human activity is the dominant force of change on the Earth’s _____ ?
Answer
Correct Answer:
All of the above
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