This quiz works best with JavaScript enabled. Home > Cbse > Class 12 > Commerce > Entrepreneurship > Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 3 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the term for a set of guidelines designed to set out acceptable behaviors for members of a particular group, association, or profession? A) Consumerism. B) Social audit. C) Code of ethics. D) Whistle-blowers. Show Answer Correct Answer: C) Code of ethics. 2. What happens to untrained employees? A) They consistently exceed performance expectations. B) They require constant supervision to complete tasks. C) They consistently cut corners and make excuses for not completing work up to the standards the business requires. D) They quickly adapt to the company's standards and procedures. Show Answer Correct Answer: C) They consistently cut corners and make excuses for not completing work up to the standards the business requires. 3. What does the term "Whistleblower Protection" refer to in the context of business ethics? A) Promoting biased decision-making. B) Encourages unethical behavior. C) Legal safeguards for individuals reporting misconduct within an organization. D) Disregarding employee well-being. Show Answer Correct Answer: C) Legal safeguards for individuals reporting misconduct within an organization. 4. What is the term used to describe materials or energy sources that cannot be replenished within a human lifespan? A) Social Responsibility. B) Code of Ethics. C) Business Ethics. D) Nonrenewable Resource. Show Answer Correct Answer: D) Nonrenewable Resource. 5. What are business ethics guided by? A) Mostly by law, other times provide a basic framework that businesses may choose to follow in order to gain public approval. B) Primarily by market trends and consumer preferences. C) Solely by the company's internal policies and procedures. D) Exclusively by the opinions of the company's stakeholders. Show Answer Correct Answer: A) Mostly by law, other times provide a basic framework that businesses may choose to follow in order to gain public approval. 6. What is a Public Utility? A) A private organization that supplies luxury products. B) An organization that supplies a service or product vital to all people. C) A government agency that provides entertainment services. D) A non-profit organization that offers free services to the public. Show Answer Correct Answer: B) An organization that supplies a service or product vital to all people. 7. Think about mistakes as opportunities to learn A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 8. The Golden Rule of Life means ..... A) "do to others what you want others to do to you". B) "how one lives on earth, and what lies beyond this finite mortal existence". C) All the above. D) None of the above. Show Answer Correct Answer: A) "do to others what you want others to do to you". 9. This obligation relates to which of the following stakeholder? Lessen displacement caused by the building of factories or roadways. A) Consumers. B) Community. C) Employees. D) Shareholders. Show Answer Correct Answer: B) Community. 10. It must protect the natural environment and should avoid bad, effluent, smoky chimneys" . It is a responsibility of an organization towards ..... A) Shareholders. B) Customers. C) Community. D) Government. Show Answer Correct Answer: C) Community. 11. What is the impact of ethical business practices on stakeholder relationships? A) It has no impact on stakeholder relationships. B) It enhances trust and collaboration with stakeholders. C) It leads to conflicts with stakeholders. D) None of the above. Show Answer Correct Answer: B) It enhances trust and collaboration with stakeholders. 12. Corporate Social Responsibility (CSR) is an example of: A) Business ethics. B) Financial mismanagement. C) Market demand. D) Entrepreneurial risk. Show Answer Correct Answer: A) Business ethics. 13. ..... monitor employee performance A) Occasionally. B) Infrequently. C) Consistently. D) Rarely. Show Answer Correct Answer: C) Consistently. 14. What is NOT a belief system? Belief system is ..... A) Merely focus on religion. B) A powerful force that affect lives of people. C) Shaped and influenced by a number of different factors. D) Formed through experiences, inferences, and accepting what others tell us to be true. Show Answer Correct Answer: A) Merely focus on religion. 15. Stakeholders include: A) Only the company's owners. B) Only government officials. C) People or groups affected by a company's actions. D) Only customers. Show Answer Correct Answer: C) People or groups affected by a company's actions. 16. What is the name for a set of principles that guide an organization in its activities and decisions? A) Social Responsibility. B) Code of Ethics. C) Ethics. D) Business Ethics. Show Answer Correct Answer: B) Code of Ethics. 17. What is a key principle of business ethics? A) Profit maximization at any cost. B) Transparency and accountability in all operations. C) Ignoring stakeholder interests. D) Prioritizing short-term gains over long-term sustainability. Show Answer Correct Answer: B) Transparency and accountability in all operations. 18. Co-op stores are built on a foundation of what? A) Social responsibility. B) Profit maximisation at any cost. C) Capitalism. D) Break-even only. Show Answer Correct Answer: A) Social responsibility. 19. What is the main purpose of a sustainability report according to the text? A) Promotes workplace romance. B) Encourages bribery. C) Discloses financial performance to shareholders. D) Reveals how a firm's operations impact the natural environment. Show Answer Correct Answer: D) Reveals how a firm's operations impact the natural environment. 20. What does normative ethics refer to? A) The field of ethics concerned with technological advancements. B) The field of ethics concerned with scientific institutions. C) The field of ethics concerned with asking how should and ought we live and act. D) The field of ethics concerned with real-world situations. Show Answer Correct Answer: C) The field of ethics concerned with asking how should and ought we live and act. 21. Who is known for his Nicomachean Ethics? A) Aristotle. B) Betham and Mill. C) Plato. D) Socrates. Show Answer Correct Answer: A) Aristotle. 22. Business ethics contains moral and social principle for doing business. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. What were the consequences for the unethical choice? A) Promotion within the company. B) Loss of trust and reputation. C) Increased profits in the short term. D) Personal satisfaction. Show Answer Correct Answer: B) Loss of trust and reputation. 24. What (Negative) Filipino Value System refers to the Filipinos' own unique brand of time? A) Filipino Time. B) Excessive parting. C) Bahala Na. D) Penchant of Law breaking. Show Answer Correct Answer: A) Filipino Time. 25. What is the significance of the social environment in CSR? A) The social environment influences corporate practices and stakeholder expectations. B) CSR is solely driven by financial performance, not social factors. C) The social environment has no impact on CSR practices. D) The social environment only affects small businesses, not corporations. Show Answer Correct Answer: A) The social environment influences corporate practices and stakeholder expectations. 26. How does an ethical business demonstrate respect to its customers? A) By listening to feedback and assessing needs. B) By maximizing profits at all costs. C) By ignoring customer complaints. D) By prioritizing shareholder interests over customer satisfaction. Show Answer Correct Answer: A) By listening to feedback and assessing needs. 27. In the context of ethics, what does "Purpose" signify? A) Your reason for being. B) Controversial issues. C) A set of strict rules. D) The pursuit of wealth. Show Answer Correct Answer: A) Your reason for being. 28. Weighing up decisions or actions on the basis of morality, not personal gain A) Ethics. B) Ethical considerations. C) The environment. D) Equality. Show Answer Correct Answer: A) Ethics. 29. What happens to employees left unmonitored? A) They become more productive and efficient. B) They sometimes slack in their performance and take credit for completing tasks that were left incomplete. C) They always meet their deadlines without supervision. D) They require more supervision to stay on task. Show Answer Correct Answer: B) They sometimes slack in their performance and take credit for completing tasks that were left incomplete. 30. The following factor that affects decision making may result in employees feeling demotivated or alienated? A) Social and Cultural. B) Government. C) Economic. D) Technological. Show Answer Correct Answer: D) Technological. 31. What do pressure groups provide to emphasize conflicts with the community? A) All of the above. B) Backing. C) A way of voicing opinions. D) Financial and legal expertise. Show Answer Correct Answer: A) All of the above. 32. How is Business Ethics defined? A) An applied ethics consisting of written and unwritten codes that govern decisions and actions within an organization. B) A set of legal regulations for commerce. C) A strategy focused on maximizing financial gains at all costs. D) The study of consumer behavior in the marketplace. Show Answer Correct Answer: A) An applied ethics consisting of written and unwritten codes that govern decisions and actions within an organization. 33. Which of the following is an example of an ethical issue? A) Choosing a new logo design. B) Paying employees fair wages. C) Ordering office supplies. D) Expanding to a new location. Show Answer Correct Answer: B) Paying employees fair wages. 34. Interest can also be referred as A) Riba. B) The extra sum of money. C) Both the options. D) None of the above. Show Answer Correct Answer: C) Both the options. 35. Which key difference distinguishes CSR from CSV? A) CSR focuses on profit only, CSV does not. B) CSR is about compliance, CSV integrates social value into core business. C) CSR is mandatory, CSV is voluntary. D) CSR is short-term, CSV is long-term. Show Answer Correct Answer: B) CSR is about compliance, CSV integrates social value into core business. 36. Which organization is mentioned as a source of loans for businesses? A) The Federal Reserve. B) The Small Business Administration. C) The Department of Commerce. D) The Internal Revenue Service. Show Answer Correct Answer: B) The Small Business Administration. 37. How does an ethical business show respect to its community? A) By paying on time and utilizing fair buying prices. B) By being environmentally responsible showing concern and giving back as it sees fit. C) By listening to feedback and assessing needs. D) By valuing opinions and treating each employee as equal. Show Answer Correct Answer: B) By being environmentally responsible showing concern and giving back as it sees fit. 38. A principle of action adopted by the organization with regard to providing an alternative channel for employees to give feedback or report wrongdoing within an organization. A) Whistleblowing policy. B) Ethics helpline. C) All the above. D) None of the above. Show Answer Correct Answer: A) Whistleblowing policy. 39. How does CSR aim to impact society? A) CSR aims to create positive social change and improve community well-being. B) CSR aims to reduce employee benefits and wages. C) CSR is primarily concerned with government regulations. D) CSR focuses solely on increasing company profits. Show Answer Correct Answer: A) CSR aims to create positive social change and improve community well-being. 40. How is corporate social responsibility defined? A) A marketing tactic to improve brand image. B) A strategy focused solely on profit maximization. C) A method for increasing employee productivity. D) A business model that integrates social and environmental concerns in operations and stakeholder interactions. Show Answer Correct Answer: D) A business model that integrates social and environmental concerns in operations and stakeholder interactions. 41. What is the definition of "Morals" ? A) Principles of right or wrong, standards of behaviour. B) Afundamental truth or proposition. C) Being dishonest. D) Thinking your own opinion is always right. Show Answer Correct Answer: A) Principles of right or wrong, standards of behaviour. 42. What kind of belief system identifies a central deity, Allah, whose instructions guide behavior? A) Christianity. B) Buddhism. C) Islam. D) Hinduism. Show Answer Correct Answer: C) Islam. 43. In ..... , utility is the degree to which an act produces pleasure and happiness is the good that we seek and we should seek. A) Hedonism. B) Maximalism. C) All the above. D) None of the above. Show Answer Correct Answer: A) Hedonism. 44. Three dimensions of ethical business decision are the economic dimension, legal dimension and ..... A) Moral dimension. B) Society dimension. C) All the above. D) None of the above. Show Answer Correct Answer: A) Moral dimension. 45. What is Intrastate Commerce? A) Business conducted by the federal government. B) Business conducted across international borders. C) Business conducted in only one state. D) Business conducted between local governments. Show Answer Correct Answer: C) Business conducted in only one state. 46. Ethics in business refers to: A) The study of marketing and management techniques. B) Following moral principles and accepted standards of behavior. C) Earning as much profit as possible. D) Avoiding taxes and regulations. Show Answer Correct Answer: B) Following moral principles and accepted standards of behavior. 47. Ethical business practices generally lead to long-term ..... A) Failure. B) Profitability and trust. C) Legal penalties. D) Employee turnover. Show Answer Correct Answer: B) Profitability and trust. 48. Despite the challenges of behaving morally, ..... is crucial for the success of new companies. A) Ethical decision-making. B) Business plans. C) Financial resources. D) Obstacles. Show Answer Correct Answer: A) Ethical decision-making. 49. In the context of corporate social responsibility (CSR), what does the acronym CSR stand for A) Customer Service Recognition. B) Corporate Sustainability Report. C) Corporate Social Responsibility. D) Cost Savings and Revenue. Show Answer Correct Answer: C) Corporate Social Responsibility. 50. Shareholders are kept 'in the dark' about affairs and performance of the company, which results in the latter being unable to make informed decisions is an example issue of ..... A) Poor communication of information. B) Excessive business information. C) All the above. D) None of the above. Show Answer Correct Answer: A) Poor communication of information. 51. What is the estimated cost of the 2008 subprime lending crisis to the global economy? A) $ 67 billion U.S. dollars. B) Over $ 22 trillion U.S. dollars. C) Unknown. D) Not mentioned in the text. Show Answer Correct Answer: B) Over $ 22 trillion U.S. dollars. 52. What might happen if a business ignores ethics and social responsibility? A) It builds stronger brand loyalty. B) It may face legal problems or damage its reputation. C) It automatically gains community support. D) It saves money without consequences. Show Answer Correct Answer: B) It may face legal problems or damage its reputation. 53. What question(s) should you ask yourself whenever you are faced with an ethical dilemma? A) Is it legal?. B) Is it balanced/fair?. C) Is it right?. D) All of these. Show Answer Correct Answer: D) All of these. 54. What is selling bonds to private banks and insurance companies considered as for the government? A) A loan. B) A donation. C) A grant. D) A service fee. Show Answer Correct Answer: A) A loan. 55. Business is a ..... Activity A) Socio-economic. B) Servies. C) Charitable. D) None of the above. Show Answer Correct Answer: A) Socio-economic. 56. What did the Honest Company change after facing criticism over its laundry detergent? A) The CEO of the company. B) The product formula and labels. C) The price of the detergent. D) The target market for the product. Show Answer Correct Answer: B) The product formula and labels. 57. The term ..... refers to principles, values and beliefs that define right and wrong behavior. A) Empowerment. B) Innovation. C) Customer satisfaction. D) Ethics. Show Answer Correct Answer: D) Ethics. 58. What are some common ethical dilemmas faced by businesses today? A) Employee dress code. B) Office holiday schedule. C) Company logo design. D) Some common ethical dilemmas faced by businesses today include conflicts of interest, corporate social responsibility, environmental sustainability, fair labor practices, and bribery and corruption. Show Answer Correct Answer: D) Some common ethical dilemmas faced by businesses today include conflicts of interest, corporate social responsibility, environmental sustainability, fair labor practices, and bribery and corruption. 59. Which of the following is a disadvantage of social responsibility? A) Public image. B) Ethical obligation. C) Violation of profit maximisation. D) Possession of resources. Show Answer Correct Answer: C) Violation of profit maximisation. 60. What do utilitarians believe should drive morality? A) External rules. B) Fear of God. C) Being sensible. D) Being happy. Show Answer Correct Answer: D) Being happy. ← PreviousNext →Related QuizzesCommerce QuizzesClass 12 QuizzesClass 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 1Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 2Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 4Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 5Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 6Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise QuizClass 12 Entrepreneurship Chapter 2 Entrepreneurial Planning QuizClass 12 Entrepreneurship Chapter 3 Project Formulation And Analysis Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books