Social Responsibility of Business and Business Ethics Test

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Social Responsibility of Business and Business Ethics Test - 26

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Weekly Quiz Competition

Question 1
1 / -0

The term "ethics" is derived from the Greek word _____________.

A
Ethos

B
Ethocis

C
Ethioys

D
Ethis

Solution

The term “ethics” is derived from the Greek word “ethos” which refers to character, guiding beliefs, standards and ideals that pervade a group, a community or people. The Oxford Dictionary states ethics as “the moral principle that governs a person’s behaviour or how an activity is conducted”.
Question 2
1 / -0

Which is an example of ethical codes?

A
We believe in more production

B
We believe in assets

C
We believe in money

D
None of these

Solution

Ethical codes are the principles designed by the organization with the purpose of assisting its members understand the difference between right and wrong, thus making them integrated and honest professionals. Ethical codes may encompass areas of business ethics, a code of professional practice and an employee code of conduct. Examples include: act honorably, follow the law, treat co-workers with respect etc.
Thus, the correct answer is D.
Question 3
1 / -0

Select the proper option from the probable option given below and rewrite the complete statements:
Ultimate goal of business must be satisfaction of the _______.

A
Shareholders

B
Consumers

C
Owners

D
None of these

Solution

A business unit exists because of consumers only. If consumers are not satisfied, it will impact the demand of product. No business can exist for long time if consumers are not satisfied. So ultimate goal of business must be satisfaction of the consumers.
Question 4
1 / -0

When the top management of the companies is committed towards the ethical code, it is related to ______________ element of ethics.

A
Publication of Code

B
Measuring Results

C
Top management commitment

D
Involving employees at all levels

Solution

Measuring Results - Although it is very difficult to measure the ethical results, it must be verified and audited that how far the work is being carried on according to the ethical standards. From time to time the top-level management must communicate with the employees to set the future plan of action.
Question 5
1 / -0

Name the concept which is concerned with 'what is right' and 'what is wrong' in business?

A
Business Ethics

B
Business Law

C
Social Responsibilities

D
None of the above

Solution

Business Ethics refers to the set of moral values and social norms that govern the actions of a businessman. Ethics defines what is right and what is wrong. It involves critical analysis of human acts to determine whether these are right or wrong.
Question 6
1 / -0

Which of the following is/are the responsibilities of a business towards the community?

A
To protect the environment from all types of pollution

B
To promote national integration

C
To help the weaker section of society

D
All of the above
Solution
Responsibilities of a business towards the community include:
1. minimizing its contribution to pollution,
2. providing more employment opportunities,
3. promote national integration,
4. help the weaker section of society,
5. preserve social and cultural values, etc.
Question 7
1 / -0

Which of the following is/are the responsibilities of a business towards shareholders?

A
To ensure the safety of investment

B
To ensure fair and regular return on investment

C
Both the above

D
None of the above
Solution
Responsibilities of a business towards the shareholders include:
1. To ensure the safety of the investment.
2. To ensure fair and regular return on investment.
3. To give complete information regarding the financial position of the business.
4. To ensure appreciation of investment by proper utilization of resources.
5. To give them opportunities to participate in decision-making.
Question 8
1 / -0

An enterprise must provide good working conditions to ___________ as a part of its responsibility.

A
Employees

B
Consumer

C
Community

D
Government
Solution
Responsibilities of business towards employees include:
1. providing fair compensation and benefits,
2. providing good and safe working conditions,
3. providing opportunities for personal growth and development, etc.
Question 9
1 / -0

What do you mean by the principles derived from the social values that guide and govern the conduct of businessmen?

A
Business Ethics

B
Social responsibility

C
Publication of code

D
Business law

Solution

Business Ethics refers to the set of morals values or social norms that govern the activities of a businessman. Ethics defines what is right and what is wrong. It involves critical analysis of human acts to determine whether these are right and wrong.
Question 10
1 / -0

Which of the following are the responsibilities of a business towards government?

A
To abide by rules, regulations and laws

B
To pay taxes and duties on time

C
Both the above

D
None of the above
Solution
Responsibilities of a business towards the government include:
1. To abide by rules, regulations, and laws.
2. To pay taxes and duties on time.
3. To adopt fair dealing, especially when involved in external trade so that country's reputation is maintained.
4. To cooperate in planning, investigation, and administrative activities of the government.

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Re-Attempt Weekly Quiz Competition

Social Responsibility of Business and Business Ethics Test - 26

Result

Social Responsibility of Business and Business Ethics Test - 26

Score

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Rank

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SHARING IS CARING

Question 1

Ethos

Ethocis

Ethioys

Ethis

Solution

Question 2

We believe in more production

We believe in assets

We believe in money

None of these

Solution

Question 3

Shareholders

Consumers

Owners

None of these

Solution

Question 4

Publication of Code

Measuring Results

Top management commitment

Involving employees at all levels

Solution

Question 5

Business Ethics

Business Law

Social Responsibilities

None of the above

Solution

Question 6

To protect the environment from all types of pollution

To promote national integration

To help the weaker section of society

All of the above

Solution

Question 7

To ensure the safety of investment

To ensure fair and regular return on investment

Both the above

None of the above

Solution

Question 8

Employees

Consumer

Community

Government

Solution

Question 9

Business Ethics

Social responsibility

Publication of code

Business law

Solution

Question 10

To abide by rules, regulations and laws

To pay taxes and duties on time

Both the above

None of the above

Solution

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