First Validating Quiz in Business Ethics and Social Responsibility

What is an entity formed for the purpose of carrying on commercial enterprise?

The advantage of this form of business includes the undivided authority, low organizations cost and license fees, and tax savings.

Which of the following have owners who do not enjoy limited liability? 

The Sole proprietorship form of business organization

The following pertains to the corporation, except?

moral principles that guide the conduct of individual

  It is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. (Use Capital letter)

Professional ethics guide the individual on proper personal conduct that is imposed by society and moral duties

It guides the individual on proper personal conduct that is imposed by society and moral duties

is the quality of making judgments that are free from discrimination. It also involves balancing the interests involved in all decision-making. (Use  Capital letter in writing your answer)

Implies openness, communication, and accountability.

It is the process of explanation and justification.

Accountability implies______________?

Type of business ethics where each person who works for a business, whether on the executive level or the entry-level, will be expected to show personal responsibility.

Business Ethics applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.