Quiz

BUS LAW 75302

Page Count
14 pages
Word Count
2627 words
Book Title
Business Ethics: Case Studies and Selected Readings 8th Edition
Authors
Marianne M. Jennings
What happened to the Union Carbide plant in Bhopal?
a. Union Carbide still operates it
b. Dow acquired Union Carbide and now operates the plant
c. The plant has been mothballed
d. The Indian government now owns the plant and produces dry-cell batteries
What was Ms. Wetlaufer's job when she met Jack Welch?
a. She was his assistant
b. She was the editor of Harvard Business Review
c. She was his tennis coach
d. None of the above
How far below market price were Interjuice's prices?
a. 15%
b. 20%
c. 50%
d. 30%
Where did spring-break alcohol advertisements and promotions recently shift to?
a. College campuses
b. College sports broadcasts
c. Foreign destinations
d. Both b and c
e. All of the above
What was the motto of the Kidder Peabody bond department?
a. "Always honest."
b. "Do it right and do it well."
c. "Never question success."
d. "The client first."
Global Factors, a NYSE company, wanted to obtain an extension to its contract with
Somalia for the sale of its government bonds. Global hired seven interns who were
children of Somalian government officials. Global:
a. Has not violated the FCPA unless it was obtaining an exception to a rule.
b. Has not violated the FCPA unless it was evading customs and duties.
c. Has violated the FCPA.
d. Is not subject to the FCPA.
Why are former employers reluctant to furnish negative information to prospective
employers of their former employees?
a. Most states prohibit such disclosures by law
b. Invasion of privacy
c. Slander or libel
d. None of the above
What happened to Mrs. Gray when her Pinto was rear-ended by a Galaxie?
a. She managed to escape from the car
b. Nothing; the gas tank survived the impact
c. She was burned severely and died of congestive heart failure
d. None of the above
Who said that the social responsibility of business is to earn a profit?
a. Warren Buffett
b. Albert Carr
c. The Sadhu
d. Milton Friedman
e. None of the above
Raymond Randall is an attorney with the Federal Trade Commission. A 19-year veteran
with the agency, Mr. Randall was known as a good trial attorney. The FTC charged
William Farley, the chairman of Fruit of the Loom, Inc., with violations of the reporting
provisions of the Hart-Scott-Rodino Act, when he purchased shares of West
Point-Pepperell Corporations prior to a Fruit of the Loom takeover bid. The
Hart-Scott-Rodino Act requires investors to notify the government when their holdings
in a firm pass $15 million.
The FTC sought a fine of $10,000 per day against Mr. Farley, for a total of $910,000.
Mr. Farley did notify the FTC once Fruit of the Loom made its decision to acquire West
Point-Pepperell. Randall was assigned the Farley case. The FTC took a position of
refusing to disclose to Farley and his attorneys documents relating to the case. Mr.
Randall felt that the documents pointed to weaknesses in the FTC case and supported
Mr. Farley's point that he notified the FTC once the takeover position was announced.
Mr. Randall leaked the documents to Mr. Farley's lawyer.
Mr. Farley's lawyers were concerned that they should not be in possession of
government documents returned the documents and resigned from the case because
they had seen the documents. Mr. Farley's new attorneys went to court demanding
production of the documents. The documents were ordered produced by the court.
When the FTC refused to produce them, the case against Mr. Farley was dismissed by a
federal district judge.
a. Did Mr. Randall do the right thing in disclosing the documents to Farley's attorneys?
b. Did Mr. Farley's lawyers do the right thing in returning the documents to the FTC?
What was the outcome of the Mattel/MGA litigation?
a. Mattel was awarded profits from MGA's sale of the Bratz doll
b. Neither side was awarded damages because it was unclear when and how the Bratz
dolls had been developed
c. MGA was awarded damages because Mattel took the Bratz doll from its ideas and
former employees
d. None of the above
One resulting problem from slotting fees is:
a. A lack of transparency in accounting.
b. Antitrust issues.
c. Kickbacks.
d. All of the above
A quid pro quo relates to which category of ethical dilemma?
a. Hiding or divulging information
b. Personal decadence
c. Conflict of interest
d. False impressions
How much had Kearns originally asked for from the companies for infringement?
a. $3.00 to $30.00 per car
b. $15 million
c. $14.97 million
d. None of the above
Which of the following is NOT a Goldman cultural philosophy?
a. Filthy rich by forty
b. Long-term greedy
c. The customer is first and foremost
d. Don"t kill the marketplace
Who was the CFO of Enron?
a. Jeffrey Skilling
b. Andrew Fastow
c. Ken Lay
d. John Olson
Intel's biggest obstacle in its Pentium chip flaw was:
a. The cost of replacement.
b. Admitting that there was a problem and acknowledging it to the public.
c. The hit to earnings if the sales were not made.
d. Both a and c
e. None of the above
Who is Edward Ivey?
a. The drunk driver in the Malibu accident case
b. CEO of General Motors
c. Engineer who performed a cost-benefit analysis on the Malibu and its gas tank issues
d. None of the above
Who was the engineer who wrote an internal memo on his concerns about the use of the
rocket launchers in low temperatures?
a. Allan McDonald
b. Bob Lund
c. Roger Boisjoly
d. Morton Thiokol
e. Charles S. Locke
What happened to FINOVA's share price when it announced a write-down of a loan and
the retirement of Sam Eichefeld as CEO?
a. The share price dropped $0.72
b. The share price dropped but rebounded before the end of the day
c. The share price dropped from $32 to $19.98 in one day
d. None of the above
What happened with Solyndra?
a. It was a successful green energy company
b. It was forced to file bankruptcy
c. It was acquired by a Chinese firm
d. It repaid its government funding
What accident at BP was a precursor to the Deepwater Horizon explosion?
a. The Texas City refinery
b. Prudhoe Bay pipeline
c. The Atlantis rig
d. There were no other deepwater wells that BP had that gave it experience and insight
Which of the following best describes the "Parable of the Sadhu" events?
a. The hikers returned the Sadhu to safety and health.
b. The hikers ignored the Sadhu so that they could reach the summit.
c. The hikers each did a little to help the Sadhu.
d. The hikers carried the Sadhu with them.
e. None of the above
What term did the Westland/Hallmark Meat Company employees have to use in their
processing work?
a. Stander
b. FDA approved
c. Authorized
d. Department of Education approved
Who said "Some would say the house of cards are falling"?
a. Sherron Watkins
b. Margaret Ceconi
c. Jeffrey Skilling
d. Bethany McClean
What type of revenues are reported using mark-to-market accounting?
a. Oil sales
b. Consulting services
c. Energy sales contracts
d. Energy services
What was AIG's role in the Goldman stock offerings?
a. It was the insurer for losses on those offerings
b. It was the underwriter
c. It disclosed Goldman's conduct to the SEC
d. It had no role with Goldman
Who was urged to take off his engineering hat and put on his management hat?
a. Charles S. Locke
b. Roger Boisjoly
c. Bob Lund
d. None of the above
How many felony counts did Beech-Nut plead guilty to?
a. 22
b. 37
c. 110
d. 215
Which of the following is not a form of earnings management?
a. Timing of booking of sales
b. Attaching values to contracts for purposes of booking revenue
c. Shipping to warehouses to book sales
d. Postponing booking returns
e. All of the above are forms of earnings management
Under Sarbanes-Oxley, who cannot be a member of an audit committee of a publicly
traded company?
a. Officer
b. Outside lawyer for the company
c. Consultant to the company
d. All of the above cannot be a member of the company's audit committee
CDOs:
a. Are illegal.
b. Are collateralized debt obligations.
c. Are not securities.
d. Could not be hedged.
A purchasing agent who is an owner of 25% of the shares in a supplier does not have a
conflict of interest.
Putting down a degree on a resume that is not yet earned is acceptable if the degree is
pending.
BP traders squeezed the pipeline to affect oil prices.
New environmentalism requires that the CEO be involved in company initiatives and
practices.
Walmart used gestores in Mexico.
The failure to correct a known defect in a product is both an ethical lapse and a basis for
a negligence claim.
Steve Cohen was fired from a trading job and banned from trading for four weeks, but
still created one of Wall Street's most successful hedge funds.
An underwater mortgage is not enforceable.
Taking your current employer's supply chain management system to a prospective
employer is not a breach of trust.
Robert Solomon is a proponent of virtue ethics.
You are taking a graduate level course in management that will help you in performing
your duties at work. Each week you must submit case analyses to your professor. Using
work time to complete the analyses would be unethical.
Suppliers are not stakeholders in the corporation.
Hilton hired only two former Starwood employees.
Your company has several outdated computers sitting in a storage closet that no one is
using. You have taken one home and set it up for personal use. This is unethical
conduct.
Apply the various schools of social responsibility to product dumping.
OSHA reportable injury figures are the same as injuries claimed under workers'
compensation systems.
Althea Caldwell is the director of Arizona's Department of Health Services (DHS).
DHS is charged the administration of the state's behavioral health system and is
responsible for contracting with private providers for millions of dollars of mental
health care each year for eligible patients.
Ms. Caldwell accepted a $20,000 per year director position for a hospital group
corporation. One of the hospitals in the group was one to which state contracts for
mental health treatment had been awarded.
One month after accepting the position, Ms. Caldwell asked the state's attorney general
for an opinion as to whether she had a conflict of interest.
Does Ms. Caldwell have a conflict of interest?

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