This quiz works best with JavaScript enabled. Home > Class 12 > 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 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. An entrepreneur that acts ethically is less likely to cause harm to the environment or to his/her customers through negligence or oversight. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 2. Which act was enacted to protect investors from the possibility of fraudulent accounting activities by corporations? A) Sarbanes-Oxley Act. B) Corporate philanthropy. C) Green marketing. D) Social audit. Show Answer Correct Answer: A) Sarbanes-Oxley Act. 3. What is the primary goal of corporate social responsibility? A) To increase company profits. B) To improve the company's public image. C) To ensure the company complies with legal standards. D) To contribute positively to society. Show Answer Correct Answer: D) To contribute positively to society. 4. Who are credited with the concept of "Creating Shared Value" ? A) Milton Friedman. B) Michael Porter and Mark Kramer. C) Peter Drucker. D) John Elkington. Show Answer Correct Answer: B) Michael Porter and Mark Kramer. 5. What is the primary concern of businesses when it comes to social responsibility? A) Maximizing shareholder wealth. B) The welfare of society. C) Reducing operational costs. D) Expanding market share. Show Answer Correct Answer: B) The welfare of society. 6. What is the term for the moral principles that govern a person's or group's behavior? A) Nonrenewable Resource. B) Social Responsibility. C) Ethics. D) Code of Ethics. Show Answer Correct Answer: C) Ethics. 7. Enacting laws to protect the environment and infant industries would be an example of which of the following factors that affect decision making? A) Social and Cultural. B) Government. C) Economic. D) Technological. Show Answer Correct Answer: B) Government. 8. Which does not belong on "triple bottom line" concept of CSR? A) Ecological Responsibility. B) Economic Responsibility. C) Technological Responsibility. D) Social Responsibility. Show Answer Correct Answer: C) Technological Responsibility. 9. What does being 'socially responsible' entail? A) Acting ethically, considering the impact on society and the environment, and engaging in practices that promote social good. B) Focusing solely on profit maximization. C) Ignoring ethical considerations in business decisions. D) Avoiding any engagement with community initiatives. Show Answer Correct Answer: A) Acting ethically, considering the impact on society and the environment, and engaging in practices that promote social good. 10. In the context of business ethics, what does the term 'stakeholder' refer to? A) A person who owns shares in a company. B) An individual or group affected by a company's actions. C) A competitor in the same industry. D) A government regulator. Show Answer Correct Answer: B) An individual or group affected by a company's actions. 11. What is one recommendation for the new CEO of the Honest Company to improve corporate social responsibility? A) Decrease transparency to avoid further scrutiny. B) Focus on aggressive marketing tactics. C) Ensure transparency and honest communication with consumers. D) Discontinue all product lines and start anew. Show Answer Correct Answer: C) Ensure transparency and honest communication with consumers. 12. Good ethics in the workplace is for example not doing long distance phone calls using the company's lines A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 13. Supply of right quality and quantity of goods and services at reasonable prices constitutes the responsibility of an enterprise toward ..... A) Employees. B) Government. C) Shareholders. D) Customers. Show Answer Correct Answer: D) Customers. 14. What is one way the government supports the economy through its employees? A) By providing free goods and services to all citizens. B) By offering unlimited loans to individuals. C) By employing people in the government, supplying them a salary so that they may participate in the economy. D) By mandating employment for all adults. Show Answer Correct Answer: C) By employing people in the government, supplying them a salary so that they may participate in the economy. 15. What is the key argument for businesses embracing CSR according to the stakeholder concept? A) It is the ethical thing to do. B) Greater customer loyalty. C) Necessary in order to avoid excessive regulation. D) Potential for differentiation and using CSR as a USP. Show Answer Correct Answer: A) It is the ethical thing to do. 16. Which stakeholder would benefit from a business not having corporate social responsibility? A) Local Community. B) Owners. C) Government. D) Customers. Show Answer Correct Answer: B) Owners. 17. An organisation that buys directly from suppliers, making sure that the price paid is high enough to allow fair wages to be paid A) Organics. B) London Stock Exchange. C) Fair Trade. D) National Farmers' Union. Show Answer Correct Answer: C) Fair Trade. 18. Why is it important for businesses to consider ethical practices? A) To avoid legal consequences. B) To gain competitive advantage. C) To maximize profits. D) None of the above. Show Answer Correct Answer: A) To avoid legal consequences. 19. What is the main purpose of business ethics in an organization A) Maximizing profits at any cost. B) Ensuring legal compliance only. C) Balancing the interests of stakeholders ethically. D) Ignoring social responsibility. Show Answer Correct Answer: C) Balancing the interests of stakeholders ethically. 20. What is the new social contract between employers and employees? A) Employees will have job security for life. B) Employers are solely responsible for maintaining jobs. C) Employees are employed as long as they add value to the organization. D) Employers must provide training unrelated to the job. Show Answer Correct Answer: C) Employees are employed as long as they add value to the organization. 21. Taking care of all aspects of your job A) Honesty. B) Loyalty. C) Responsibility. D) Integrity. Show Answer Correct Answer: C) Responsibility. 22. Socially responsible companies often gain: A) Lower employee morale. B) Stronger community relationships and customer loyalty. C) Higher pollution levels. D) Government fines. Show Answer Correct Answer: B) Stronger community relationships and customer loyalty. 23. The application of ethical and moral principles or in a business environment is referred as A) Business Management. B) Business Law. C) Business Ethics. D) Business Deal. Show Answer Correct Answer: C) Business Ethics. 24. At least ..... of the Average net profit should be spent on C.S.R A) 2%. B) 5%. C) 3%. D) None of the above. Show Answer Correct Answer: A) 2%. 25. What is the relationship between CSR and business ethics? A) CSR is unrelated to business ethics and focuses solely on profit. B) Business ethics is a subset of CSR that only addresses environmental issues. C) CSR and business ethics are completely opposite concepts with no overlap. D) CSR is an extension of business ethics that integrates ethical considerations into business practices. Show Answer Correct Answer: D) CSR is an extension of business ethics that integrates ethical considerations into business practices. ← PreviousNext →Related 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 5 Business Ethics And Corporate Social Responsibility Quiz 7Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 8Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 9Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 10Class 12 Entrepreneurship Chapter 5 Business Ethics And Corporate Social Responsibility Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books