Responsibility and Purpose of Corporate Moral Agency MCQ
Responsibility and Purpose of Corporate Moral Agency MCQ
1. What are the moral principles by which moral agents should be guided?
Answer
Correct Answer:
Respect for fundamental human rights and basic moral duties
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2. What is the chief principle that should shape managerial decisions?
Answer
Correct Answer:
Common good
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3. Principled moral reasoning fills the gaps created by deficiencies in the ______.
Answer
Correct Answer:
Law
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4. What is the result, as it relates to the community, when a corporation falls short of its legal obligations?
Answer
Correct Answer:
It undermines the common good.
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5. According to Thomas Aquinas, a law is a measure that binds us to the right way ______.
Answer
Correct Answer:
To act
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6. What is a primary purpose of fiduciary rules?
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Correct Answer:
To ensure that corporate managers act on behalf of investors
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7. Who does fiduciary law apply to?
Answer
Correct Answer:
Corporate officers, directors, and executives
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8. Which is an example of a basic legal requirement?
Answer
Correct Answer:
Honoring contracts
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9. Which kind of strategy thrives on radical innovation with little competition and a high willingness to pay?
Answer
Correct Answer:
Blue ocean
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10. Which term describes the least suppliers will accept for their inputs?
Answer
Correct Answer:
Supplier opportunity cost
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11. What is the first obligation of a corporation?
Answer
Correct Answer:
To create value and wealth
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12. The ______ states that the interests of shareholders take precedence as long as stakeholders are treated fairly.
Answer
Correct Answer:
Modified entity model
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13. What is a criticism of the social entity model?
Answer
Correct Answer:
There are no criteria to prioritize the claims of stakeholders.
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14. The social entity model embraces the idea that the corporation’s purpose is broader than the wealth of shareholders. It considers the rights of stakeholders in ______.
Answer
Correct Answer:
Decision-making
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15. The social entity model supports the thinking that corporations have evolved into a
Answer
Correct Answer:
Social institution
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16. The ______ model dictates that the rights of stakeholders are limited o their contractual or legal claims.
Answer
Correct Answer:
Property
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17. Those who reject corporate personhood or moral agency view corporations as having only one purpose. What is that one purpose?
Answer
Correct Answer:
Shareholder gains
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18. The chief executive officer and other managers are responsible for ______.
Answer
Correct Answer:
Formation of the corporate conscience
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19. A corporate mindset ______ the actions of corporation.
Answer
Correct Answer:
Directs
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20. The distinctive mark of personhood that supports a corporation being a moral agent is ______.
Answer
Correct Answer:
Subjectivity
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21. Agility is an example of a ______.
Answer
Correct Answer:
Value
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22. What flows from a corporation’s norms, values, and beliefs?
Answer
Correct Answer:
Corporate mindset
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23. A corporation is considered ______, as it has objectives and is governed by certain rules or norms as it makes choices to realize its objectives.
Answer
Correct Answer:
A moral agent
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24. Who typically controls a corporation?
Answer
Correct Answer:
Board or directors
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25. A group organized for a business purpose, which has been authorized by a sovereign state to act as a single entity and is recognized by the law, is a ______.
Answer
Correct Answer:
Corporation
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26. The_______ is a most consumers will pay for a product, which usually corresponds to the price
Answer
Correct Answer:
Willingness to pay
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27. The least suppliers will accept for their inputs Supplier opportunity cost is a ?
Answer
Correct Answer:
Both a and b
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28. The social entity model corporation exists only to create shareholder wealth but also to not satisfy the needs of customers, to provide jobs for employees, and to contribute to the vitality of the local community?
Answer
Correct Answer:
False
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29. The Property model that shareholders’ interests have primacy in all corporate affairs because they effectively “other” the corporate assets?
Answer
Correct Answer:
False
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30. Fiduciary relationship: a certain party is entrusted with property, information, or power to make a decision that entails discretionary____ for the benefit of someone other than this trusted party?
Answer
Correct Answer:
Judgments
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31. A______group, organized for a business purpose, that has been authorized by a sovereign state to act as a single entity and is recognized as such in law?
Answer
Correct Answer:
Corporation
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32. The idea that a corporation has qualities different to those of a person is known as Corporate moral agency?
Answer
Correct Answer:
False
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33. Corporate mindset flows from a firm’s norms and_____, along with a discrete set of factual beliefs?
Answer
Correct Answer:
Value
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