This quiz works best with JavaScript enabled. Home > Cbse > Class 11 > Commerce > Business Studies > Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 13 (17 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following statements best describes business ethics? A) It involves applying ethical and moral standards to business behavior. B) It should be applied as a separate set of moral standards from general ethics. C) It deals exclusively with the ethical behavior of creditors and shareholders. D) It can by understood from two perspectives-consequentialism and constitutivism. Show Answer Correct Answer: A) It involves applying ethical and moral standards to business behavior. 2. It is easy to form and operate. A) Sole Proprietorship. B) Partnership. C) Capital. D) Corporation. Show Answer Correct Answer: A) Sole Proprietorship. 3. Being ethical also means that employees should strive to achieve excellence in all their tasks. A) EXCELLENCE. B) INTEGRITY. C) BEING A LEADER. D) HONESTY. Show Answer Correct Answer: A) EXCELLENCE. 4. What is the term for a person who reports illegal activity occurring within a firm to outside parties? A) Whistleblower. B) Insider. C) CEO. D) Auditor. Show Answer Correct Answer: A) Whistleblower. 5. The invisible hand theory suggests that individuals pursuing their own self-interest will ultimately benefit: A) The business sector. B) Only themselves. C) Society as a whole. D) The government. Show Answer Correct Answer: C) Society as a whole. 6. Which of the following defines business ethics? A) An approach toward decision making in which a person evaluates moral principles. B) Professional standards of conduct, based on moral principles and values, guiding decision-making and actions. C) Choices made based on moral principles and values. D) A set of guidelines which govern behavior. Show Answer Correct Answer: B) Professional standards of conduct, based on moral principles and values, guiding decision-making and actions. 7. This view argued that a company should be operated on a profit-orientation basis where its mission is to increase its profit as long as it stays within the rules of ethics. A) Ethical responsibilities. B) Legal responsibilities. C) Discretionary responsibilities. D) Economic responsibilities. Show Answer Correct Answer: D) Economic responsibilities. 8. Which is the 3 main factors that influence ethics in business? A) Self-discipline, autonomy, mastery. B) Individual morals & values, coworker's influence, opportunity. C) Individual morals & values, social responsibility, profit margin. D) Code of ethics, religion, gender. Show Answer Correct Answer: B) Individual morals & values, coworker's influence, opportunity. 9. What does "Padrino system" imply to the company's hiring process? A) A highly qualified applicant will be employed easily. B) A highly qualified applicant will not be hired because he/she is not endorsed. C) A highly qualified applicant will be interviewed first. D) A highly qualified applicant will be hired even without endorsement. Show Answer Correct Answer: B) A highly qualified applicant will not be hired because he/she is not endorsed. 10. Which sentence uses the term 'business ethics' correctly? A) Business ethics is a way to increase company profits. B) Business ethics ensures that a company operates within the law and maintains a good reputation. C) Business ethics is only important for large corporations. D) Business ethics is a new trend in the business world. Show Answer Correct Answer: B) Business ethics ensures that a company operates within the law and maintains a good reputation. 11. The ..... approach for resolving an ethical dilemma considers which decision would provide the greatest good for the greatest number of people. A) Ends-based. B) Rules-based. C) Golden Rule. D) Volcker's Rule. Show Answer Correct Answer: A) Ends-based. 12. What is an entrepreneur's responsibility to suppliers? A) Creating an energy-efficient workplace. B) Giving suppliers feedback on products or services. C) Taking customer complaints seriously. D) Informing customers about products and services. Show Answer Correct Answer: B) Giving suppliers feedback on products or services. 13. What is a code of ethics and why is it important? A) A code of ethics is a legal requirement for businesses. B) A code of ethics is a set of guidelines for ethical behavior, important for promoting integrity and trust. C) A code of ethics is a personal opinion on morality. D) A code of ethics is a marketing strategy for profit. Show Answer Correct Answer: B) A code of ethics is a set of guidelines for ethical behavior, important for promoting integrity and trust. 14. Producing high-quality products is an example of what? A) Legal and illegal. B) Legal and unethical. C) Illegal and unethical. D) Legal and ethical. Show Answer Correct Answer: D) Legal and ethical. 15. The purposeful slowing down of iPhones by Apple is an example of ..... A) Poor production. B) Copyright infringement. C) Misleading advertising. D) Planned obsolescence. Show Answer Correct Answer: D) Planned obsolescence. 16. The Sarbanes-Oxley Act of 2002 deals with corporate responsibility, conflicts of interest, and corporate accountability. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 17. The crime of not paying the full amount of tax that one should pay A) Embezzlement. B) Corruption. C) Invoice. D) Tax evasion. Show Answer Correct Answer: D) Tax evasion. ← PreviousRelated QuizzesCommerce QuizzesClass 11 QuizzesClass 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 1Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 2Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 3Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 4Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 5Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 6Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 7Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books