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Demanding Ethical and Socially Responsible Behavior Test Bank

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1. The Enron scandal illustrates the difference between unethical behavior and illegal behavior. True False 2. Ethical behavior requires more than following the law. True False 3. Legal behavior and ethical behavior are basically the same. True False 4. A society gets into trouble when people consider only what is illegal and not also what is ethical or unethical. True False 5. Ethical behavior refers to the standards that are accepted by society as right or wrong. True False 6. People should look at each situation individually and decide for themselves if it is right or wrong. True False 7. Given the level of diversity within the United States, agreement on common standards of ethical behavior is unachievable. True False 8. An accurate statement regarding this chapter is: "Business law establishes ethical behavior." True False 1 9. Legal behavior is directly related to our relationships with others, while ethical behavior is not. True False 10. Legal behavior is a first step toward ethical behavior. True False 11. Laws that protect us from fraud, theft and violence determine ethical behavior. True False 12. Moral behavior refers to behavior that is accepted by society as right versus wrong. True False 13. Ethical behavior focuses on treating others fairly. True False 14. Making accounting records more transparent may help restore trust in the free-market system and leaders in general. True False 15. Punishing business leaders who have broken the law may help restore trust in the free-market system and leaders in general. True False 16. Making businesspeople more accountable for company actions may help restore trust in the free-market system and leaders in general. True False 2 17. According to the Legal Briefcase box, "Paying the Price", corporate executives who commit fraud, securities fraud, and other business crimes are sentenced to fines, but not to jail because these acts are not considered to be criminal convictions. True False 18. People involved in business may be tempted to do something unethical in order to increase sales and profits, but rarely do because if they are caught, our legal system will deal harshly with them. True False 19. Jake and his college friends frequent a small pub on weekends. Last weekend, after a few beers, one of his friends decided to take the salt and pepper shaker from their table because they needed a set at their apartment. In this situation, this was not a particularly questionable activity because it was a restaurant where one pays for these extras. True False 20. According to the Legal Briefcase box, "Paying the Price", the Enron case was a landmark because it demonstrated clearly that company regulations and policies always represent the best interests of all employees, and not only those employees holding the highest company positions. True False

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