Social Responsibility of Business and Business Ethics Quiz-1

Social Responsibility of Business and Business Ethics Quiz-1

Quiz

 

1. If business is to operate in a society which is full of diverse and complicated problems then it may have:
   1.   More chances to grow
   2.   More profits
   3.   Little chance of success
   4.   Little chance of loss
2. A business enterprise must behave as a good citizen is an example of responsibility of business towards the_______:
   1.   Community
   2.   Employees
   3.   Owners
   4.   Debtors
3. Some social responsibilities require huge financial investments and business firms charge higher prices of goods from customers to overcome the needs of such financial investments. This is stated under which heading of arguments against social responsibility?
   1.   Lack of social skills
   2.   Lack of broad public support
   3.   Burden on consumers
   4.   Violation of profit maximisation objective
4. Which of the following problems are said to be created by a business firm in the society:
   1.   Environmental pollution
   2.   Unsafe workplaces
   3.   Corruption in public institutions
   4.   All of these
5. Which of the following is a benefit of business ethics?
   1.   It can improve the company's reputation.
   2.   It can attract and retain good employees.
   3.   It can reduce the risk of law suits.
   4.   All of the above
6. Which of the following is an example of unethical business behavior?
   1.   Paying employees below minimum wage
   2.   Dumping toxic waste into the environment
   3.   Using child labor
   4.   All of the above
7. Which of the following is not an argument in favour of social responsibility:
   1.   Justification for existence and growth
   2.   Holding business responsible for social problems
   3.   Availability of resources with business
   4.   Lack of broad public support
8. Which of the following is not the social responsibility of business firms towards its investors:
   1.   To ensure safety of capital
   2.   To give appropriate safety
   3.   To ensure proper utilization of capital
   4.   To give proper dividend
9. A firm has the social responsibility of providing fair returns to its_________:
   1.   Customers
   2.   Suppliers
   3.   Debtors
   4.   Investors
10. Social responsibility of a business is________what is written in the law:
    1.   Restricted to
    2.   Not more than
    3.   More than
    4.   Equal to
11. Which of the following is a responsibility of business firms towards the government:
    1.   Payment of taxes regularly
    2.   Supply of goods at a reasonable price to the customers
    3.   Safety of investments provided by shareholders
    4.   All of these
12. Which of the following is the most important factor in promoting business ethics?
    1.   The personal values of the business leaders
    2.   The company's code of ethics
    3.   The government's regulations
    4.   The threat of lawsuits
13. A business can stand to gain maximum profit in the long run only because of:
    1.   Desiring for more and more profits
    2.   Working hard day and night
    3.   Providing service to the society
    4.   All of these
14. Practicing socially desirable business activities:
    1.   Improves the image of business in the society
    2.   Makes the business more profitable
    3.   Business can get durable success
    4.   All of the above
15. Primary social responsibility of business is________ which means producing goods and services according to the wants of the society and sell them at a profit:
    1.   Legal
    2.   Economic
    3.   Ethical
    4.   Discretionary
16. Which of the following is an example of socially undesirable practices:
    1.   Sale of adulterated goods
    2.   Making deceptive advertisements
    3.   Exploiting workers
    4.   All of these
17. Providing accurate and up to date information on the financial position of the company is a social responsibility of business towards its:
    1.   Workers
    2.   Consumer
    3.   Shareholder
    4.   Government and community
18. For a business which is a broader term
    1.   Social responsibility
    2.   Legal responsibility
    3.   Both are equally important
    4.   None of the above
19. Protection of environment is a social responsibility of business towards:
    1.   Consumers
    2.   Workers
    3.   Shareholders
    4.   Government and community
20. From the point of view of a business, government regulations are undesirable because:
    1.   They limit the profit of business
    2.   They limits the freedom of business
    3.   They impose more taxes
    4.   None of these