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 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 6 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What are the key components of Corporate Governance? A) Transparency, Accountability, Fairness, Responsibility. B) Efficiency, Profitability, Growth. C) All the above. D) None of the above. Show Answer Correct Answer: A) Transparency, Accountability, Fairness, Responsibility. 2. Which of the following is a key component of corporate governance? A) Maximizing short-term profits. B) Ensuring transparency and accountability. C) Reducing employee benefits. D) Focusing solely on shareholder interests. Show Answer Correct Answer: B) Ensuring transparency and accountability. 3. A company goes bankrupt because of its unethical accounting practices. The reason for this unethical behavior is that the action is A) Acceptable in foreign cultures. B) Committed by unethical employees. C) Not illegal. D) Acceptable within the industry. Show Answer Correct Answer: B) Committed by unethical employees. 4. An act of an employee exposing an employer's wrongdoing to outsiders. A) Ethical Issue. B) Plagiarism. C) Whistleblowing. D) Consumerism. Show Answer Correct Answer: C) Whistleblowing. 5. Ethics is important for A) Top management. B) Middle-level managers. C) Non-managerial employees. D) All of these. E) None. Show Answer Correct Answer: D) All of these. 6. ..... is a serious issue that confronts business managers and decision making A) Pollution. B) Protection of the environment. C) Social responsibility. D) None of the above. Show Answer Correct Answer: B) Protection of the environment. 7. An affirmative action program is designed to ensure that employees from underrepresented groups are employed in about the same proportion as their representation within the community. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 8. An agreement to exchange goods or services for something of value, usually money A) Taxes. B) Contract. C) Civil Case. D) Trademark. Show Answer Correct Answer: B) Contract. 9. Every business has a responsibility to operate within the laws of the land A) Ethical responsibility. B) Discretionary responsibility. C) Responsibility towards the consumers. D) Legal responsibility. Show Answer Correct Answer: D) Legal responsibility. 10. What are the ethical implications of marketing practices? A) Marketing practices are always beneficial for consumers. B) There are no ethical concerns in advertising. C) Marketing has no impact on consumer behavior. D) Marketing practices can have significant ethical implications, including manipulation, exploitation, and privacy invasion. Show Answer Correct Answer: D) Marketing practices can have significant ethical implications, including manipulation, exploitation, and privacy invasion. 11. Which model suggests that society will benefit most when business is left alone to produce and market profitable products that society needs? A) Economic Model of Social Responsibility. B) Green Marketing. C) Socioeconomic Model of Social Responsibility. D) Corporate Citizenship. Show Answer Correct Answer: A) Economic Model of Social Responsibility. 12. They are financial institutions that assist in providing a savings and loan facility to the inhabitants of a community. A) Debit Unions. B) Service or Product Subsidization Model. C) Joy in every task. D) Credit Unions. Show Answer Correct Answer: D) Credit Unions. 13. The concern of businesses for the welfare of society as a whole; consists of obligations beyond those required by law or contracts. A) Corporate social responsibility (CSR). B) Code of ethics. C) All the above. D) None of the above. Show Answer Correct Answer: A) Corporate social responsibility (CSR). 14. It is a group of people who work together to achieve common goal. A) Business. B) Organization. C) All the above. D) None of the above. Show Answer Correct Answer: B) Organization. 15. What is corporate social responsibility? A) A way for entrepreneurs to make more profits. B) A model of resource conservation. C) A legal obligation to provide a safe workplace. D) A responsibility to be honest and transparent with customers. Show Answer Correct Answer: B) A model of resource conservation. 16. Lawrence Kohlberg's model is associated with: A) Business expansion. B) Economic development. C) Legal compliance. D) Stages of moral development. Show Answer Correct Answer: D) Stages of moral development. 17. People who are part owners of a company are known as ..... A) Stakeholders. B) Customers. C) Shareholders. D) People. Show Answer Correct Answer: C) Shareholders. 18. Dumping toxic wastes on land, which in turn damages A) Noise pollution. B) Air pollution. C) Land pollution. D) Water pollution. Show Answer Correct Answer: C) Land pollution. 19. Impact of good business ethics is ..... A) Logistics run smoothly. B) Increase in stock. C) High turnover rate. D) Good word of mouth from customers. Show Answer Correct Answer: D) Good word of mouth from customers. 20. According to the invisible hand theory, what is the role of competition in the market? A) To encourage innovation and efficiency. B) To create monopolies. C) To eliminate competition. D) To regulate prices. Show Answer Correct Answer: A) To encourage innovation and efficiency. 21. Affirmative action plans encompass all areas of human resources management, including recruiting, hiring, training, promotion, and pay. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 22. Social Responsibility applies in business as a company's corporate social. A) True. B) False. C) Maybe. D) All of the above. Show Answer Correct Answer: A) True. 23. Someone who has invested money into something, or who has some important connection with it, and therefore is affected by its success or failure A) Stockholder. B) Parties. C) Shareholder. D) Stakeholder. Show Answer Correct Answer: D) Stakeholder. 24. Personal ethics are best described as: A) Values and principles guiding an individual's behavior. B) Laws and regulations imposed by society. C) Business strategies for success. D) Company policies and procedures. Show Answer Correct Answer: A) Values and principles guiding an individual's behavior. 25. Which action is a specific step business enterprises can take for environmental protection? A) Focusing solely on maximizing shareholder profits. B) Developing clear-cut policies for purchasing good quality raw materials and treating waste. C) Ignoring government regulations to reduce operational costs. D) Outsourcing all environmental responsibilities to third-party agencies without oversight. Show Answer Correct Answer: B) Developing clear-cut policies for purchasing good quality raw materials and treating waste. 26. Every business has a responsibility to operate within the lows of the land A) Ethical responsibility. B) Legal responsibility. C) Responsibility towards the consumers. D) Discretionary responsibility. Show Answer Correct Answer: B) Legal responsibility. 27. What are some unethical marketing practices that harm consumers? A) Robust customer service. B) Honest advertising. C) False advertising, bait-and-switch tactics, deceptive pricing, hidden fees, aggressive telemarketing. D) Clear and transparent pricing. Show Answer Correct Answer: C) False advertising, bait-and-switch tactics, deceptive pricing, hidden fees, aggressive telemarketing. 28. It is defined as a framework that a social enterprise follows to fulfill its mission and maintain its financial stability. A) Low-Income Client Model. B) Social Business Model. C) Entrepreneur Support Model. D) Credit Unions. Show Answer Correct Answer: B) Social Business Model. 29. Individuals or groups to whom a business has a responsibility; include employees, customers, the general public, and investors. A) Stakeholders. B) Arbitrators. C) All the above. D) None of the above. Show Answer Correct Answer: A) Stakeholders. 30. Is being ethical important to you? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 31. Rank 7 Best Corporate Citizen A) Apple. B) Microsoft. C) Ecolab. D) Coca-Cola. Show Answer Correct Answer: C) Ecolab. 32. A set of moral standards for judging whether something is right or wrong. A) Ethics. B) Justice. C) All the above. D) None of the above. Show Answer Correct Answer: A) Ethics. 33. What is the study of right and wrong and the morality of choices individuals make? A) Consumerism. B) Business Ethics. C) Social Responsibility. D) Ethics. Show Answer Correct Answer: D) Ethics. 34. What does business ethics mean? A) Conducting business in an ethical manner. B) Maximizing profits at all costs. C) Ignoring stakeholder interests. D) Focusing solely on competition. Show Answer Correct Answer: A) Conducting business in an ethical manner. 35. The ..... determined that companies can be prosecuted and punished for the illegal or unethical actions of employees, even if management didn't know about the unethical behavior. A) Federal Trade Commission. B) U.S. Equal Employment Opportunity Commission. C) U.S. Supreme Court. D) U.S. Department of Labor. E) U.S. Sentencing Commission Guidelines. Show Answer Correct Answer: E) U.S. Sentencing Commission Guidelines. 36. A business with poor ethics causes internal problems for itself by A) Decreasing productivity. B) Improving its public image. C) Decreasing financial risk. D) Increasing customer loyalty. Show Answer Correct Answer: A) Decreasing productivity. 37. All unethical business practices are covered by the law. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 38. Bribery is ..... A) Selling something expensive. B) Giving an item of value to influence the action of another. C) Buying something illegal. D) Giving presents to your employees and shareholders. Show Answer Correct Answer: B) Giving an item of value to influence the action of another. 39. What is a key social responsibility of a business towards its workers and employees? A) Avoiding unfair trade practices. B) Paying taxes regularly and honestly. C) Providing fair wages and salaries. D) Maximizing shareholder wealth. Show Answer Correct Answer: C) Providing fair wages and salaries. 40. Which of the following companies does not fulfill its social responsibility towards its stakeholders? A) A company adopts at strict credit policy for its customers. B) A company does not distribute dividend to ordinary shareholders. C) A company charges a higher price than its competitors selling the same type of product. D) A company does not provide training and development opportunities for its employees. Show Answer Correct Answer: D) A company does not provide training and development opportunities for its employees. 41. How can businesses ensure ethical decision-making? A) By implementing a code of ethics. B) By avoiding transparency. C) By prioritizing profit over ethics. D) By ignoring employee feedback. Show Answer Correct Answer: A) By implementing a code of ethics. 42. Having high level of ..... means that the company has earned the trust of its stakeholders because it has been consistent in all of its actions, decisions, and character. A) HONEST. B) INTEGRITY. C) RESPECT. D) LOYALTY. Show Answer Correct Answer: B) INTEGRITY. 43. When using chopsticks in Japan to eat rice, where should you avoid placing your chopsticks? A) Right in front of you, parallel to the table's edge. B) In your hand to eat the rice. C) Sticking straight up in your bowl of rice. D) Resting on a chopstick holder. Show Answer Correct Answer: C) Sticking straight up in your bowl of rice. 44. According to the 2016 The Forum for Sustainable and Responsible Investing report, what is the value of SRI assets in the U.S.? A) Over $ 1 billion. B) Over $ 8.72 trillion. C) Over $ 500 million. D) Over $ 100 billion. Show Answer Correct Answer: B) Over $ 8.72 trillion. 45. Over the last five decades, corporate ethics has moved from the domain of human resource departments into the ..... A) Legal department. B) Finance and accounting department. C) Talent management portfolio. D) Organizational mainstream. Show Answer Correct Answer: D) Organizational mainstream. 46. What is collateral? A) Collateral is an asset pledged by a borrower to secure a loan. B) Collateral is a government grant for businesses. C) Collateral is a form of interest rate. D) Collateral is a type of insurance policy. Show Answer Correct Answer: A) Collateral is an asset pledged by a borrower to secure a loan. 47. You decide not to take a certain action because you know it's the wrong thing to do. You have made this decision based on your A) Regulations. B) Peers. C) Laws. D) Ethics. Show Answer Correct Answer: D) Ethics. 48. What are the potential consequences of ignoring stakeholder interests? A) Increased trust and loyalty from stakeholders. B) Decreased profitability for the business. C) Enhanced reputation and positive public perception. D) Improved employee satisfaction. Show Answer Correct Answer: B) Decreased profitability for the business. 49. ..... is a tool to assess whether the investment will be profitable in the long run. A) Capital budgeting analysis. B) Chief Financial Officer. C) Dividend policies. D) Shareholders. Show Answer Correct Answer: A) Capital budgeting analysis. 50. WHAT PRINCIPLE OF BUSINESS ETHICS ENSURES COMPANIES PROVIDE TRUTHFUL INFORMATION TO CUSTOMERS? A) Consumer protection. B) Honesty and transparency. C) Fair treatment of employees. D) Corporate governance. Show Answer Correct Answer: B) Honesty and transparency. 51. Why is Community Engagement crucial for businesses? A) Community engagement is crucial for businesses to build trust, loyalty, brand awareness, receive feedback, foster innovation, and create a positive reputation. B) Community engagement is unnecessary for businesses. C) Community engagement leads to negative feedback only. D) Community engagement does not impact brand awareness. Show Answer Correct Answer: A) Community engagement is crucial for businesses to build trust, loyalty, brand awareness, receive feedback, foster innovation, and create a positive reputation. 52. The role of the ..... is to determine the appropriate capital structure of the company. A) VP for Production. B) VP for Administration. C) VP for Marketing. D) VP for Finance of the Financial Manager. Show Answer Correct Answer: D) VP for Finance of the Financial Manager. 53. Which of the following is not the social responsibility of business towards investors? A) To give appropriate salaries. B) To ensure safety of capital. C) To ensure proper dividend. D) To ensure the proper utilisation of capital. Show Answer Correct Answer: A) To give appropriate salaries. 54. What is the definition of Ethics? A) Ethical norms that apply to all people across a broad spectrum of situation. B) A set of beliefs about right and wrong, good and bad. C) The application of right and wrong, good and bad, in a business setting. D) 1 and 3. Show Answer Correct Answer: B) A set of beliefs about right and wrong, good and bad. 55. Which of the following is INCORRECT when making an ethical decision? A) It is important to be confident in your choice. B) The choice should be made based on moral principles and values. C) Irrelevant and unimportant information should also be included when defining a problem. D) The process should be repeated if it is not the best decision. Show Answer Correct Answer: C) Irrelevant and unimportant information should also be included when defining a problem. 56. Investors are more likely to support companies with strong ethical standards. A) PHILANTHROPY. B) EMPLOYEE MORALE. C) CONSUMER TRUST. D) INVESTOR CONFIDENCE. Show Answer Correct Answer: D) INVESTOR CONFIDENCE. 57. What is the main purpose of business ethics? A) To ensure that businesses make as much profit as possible. B) To provide a framework for businesses to follow that ensures fairness, honesty, and respect for individuals. C) To regulate the internal operations of a business. D) To govern international trade agreements. Show Answer Correct Answer: B) To provide a framework for businesses to follow that ensures fairness, honesty, and respect for individuals. 58. How do business ethics relate to social responsibilities of firms? A) Business ethics focus solely on maximizing profits. B) Social responsibilities are only about environmental issues. C) Business ethics guide firms in fulfilling their social responsibilities by promoting fair and responsible practices. D) Business ethics are unrelated to a firm's financial performance. Show Answer Correct Answer: C) Business ethics guide firms in fulfilling their social responsibilities by promoting fair and responsible practices. 59. Social Responsibilities is A) Same as Legal responsibility. B) Broader than legal responsibility. C) Narrower than legal responsibility. D) None of these. E) None. Show Answer Correct Answer: B) Broader than legal responsibility. 60. What is the act of knowingly taking someone else's words, ideas, or other original material without acknowledging the source? A) Conflict of Interest. B) Green Marketing. C) Affirmative Action Program. D) Plagiarism. Show Answer Correct Answer: D) Plagiarism. ← PreviousNext →Related 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 7Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 8Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books