Quiz

Business Law 18497

Page Count
15 pages
Word Count
2564 words
Book Title
Business Ethics: Case Studies and Selected Readings 8th Edition
Authors
Marianne M. Jennings
Under Sarbanes-Oxley, when must a company file an 8-K?
a. Every quarter
b. Only when selling stock
c. Annually
d. Within one day of any changes listed in the statute
Which of the following is an effective tool for stopping cultural and societal ethical
shifts?
a. Ethics training
b. Screening
c. Internal controls
d. Educational standards
What was Gadams's first place of employment?
a. Mendota Unified School District
b. Fresno Pacific College
c. Livingston Middle School
d. California State Board of Education
What area was picked for the test market?
a. Richmond, Virginia
b. Tallahassee, Florida
c. Atlanta, Georgia
d. Orlando, Florida
The SEC concluded in the Jett decision:
a. That Jett acted alone in his conduct.
b. That Jett deceived Kidder Peabody.
c. That Jett was able to adequately explain all of his profits and conduct.
d. Both a and b
Prior to the Enron collapse, how many employees did Andersen have?
a. 3,300
b. 7,000
c. 11,000
d. 36,000
Who gave the famous "Numbers Game" speech?
a. Warren Buffett
b. Arthur Levitt
c. Dennis Kozlowski
d. Andrew Fastow
Beth Williams is an exercise physiologist who serves as an expert consultant for
Women's Walkers, Inc., a shoe company specializing in manufacturing walking shoes
for women. Dr. Williams is paid an annual consulting fee along with additional fees for
drafting reports and making media and public appearances for the company. Executive
Woman, a national magazine, has asked Dr. Williams to serve as one of three experts on
a panel that will evaluate the full market range of women's walking shoes.
a. Dr. Williams will be paid a consulting fee by Executive Woman as well.
b. Dr. Williams can participate in the Executive Woman panel so long as her affiliation
with Women's Walkers is disclosed.
c. Dr. Williams can participate in the Executive Woman panel if she waives her fee.
d. Dr. Williams is an academic with no conflict of interest and can participate in the
Executive Woman panel.
Which of the following is not a stakeholder in a business?
a. Suppliers
b. Customers
c. Employees
d. Community members
e. All of the above are stakeholders
For Ford to be held solely liable for the accidents:
a. Firestone can show that the condition of its tires was changed by use and operation
on the Explorers.
b. Firestone must show that Ford was aware of a problem with the Explorer.
c. Ford cannot be held solely liable to the Explorer owners.
d. None of the above
Milton Friedman's view on executive compensation is:
a. That government should control it.
b. That there should be established ranges.
c. That shareholders should undertake controls if they deem it necessary.
d. None of the above
Where was Bernie Madoff's secretive operation that had his computer and program for
his investment techniques?
a. Off-shore in the Cayman Islands
b. In West Palm beach
c. On the 17th floor of his New York offices
d. In Switzerland
How much did Boeing have to restate its earnings as a result of the document issue?
a. $1 billion
b. $615 million
c. $1.1 billion
d. $5 billion in lost contracts
Freeman's Stakeholder Theory:
a. Requires business to consider other groups beyond shareholders when making
decisions.
b. Is a free market theory.
c. Require property rights before allowing input on a decision.
d. Both b and c
e. None of the above
Which of the following is an example of utilitarianism?
a. Throwing an elderly person from a life raft with too much weight to continue floating
in order to save the lives of 15 others.
b. Denying hip replacement surgery to an 83-year-old patient because the facilities and
physicians are needed for preserving the life of a 35-year-old scientist whose research
focuses on a cure for Alzheimer's.
c. Neither a nor b
d. Both a and b
What was the effect of Boeing's merger with McDonnell Douglas and Lockheed
Martin's merger with Marietta?
a. The merger meant the two companies could work together
b. The merger would be set aside for antitrust violations
c. The merger meant the government had only two major contractors
d. None of the above
How much did the WorldCom board loan Ebbers?
a. $20 million
b. $100 million
c. $415 million
d. $1.4 billion
Who encouraged Boeing employees to develop a more effective competitive assessment
of Lockheed Martin?
a. Kenneth Branch
b. William Erskine
c. Frank Slazer
d. Tom Alexiou
Jerome Kerviel, Joseph Jett, and Nick Leeson had what in common?
a. They all went to jail
b. They all bankrupted or nearly bankrupted their companies
c. They all embezzled from their companies
d. None of the above
Which of the following is not one of the components of the four-legged stool of
interrelationships in economic systems?
a. Government
b. Customers
c. Business
d. Stakeholders
Former NBA referee Tim Donaghy entered a guilty plea to two federal felony charges
in connection with his bets and tips to others on NBA games. Mr. Donaghy picked
teams to win in games he was scheduled to referee. Experts have said that Donaghy
committed the equivalent of insider trading on Wall Street by providing outsiders with
information about games, players, and referees. He got $5,000 from his tippees for
correct picks. Apart from the criminal charges, what category of ethical breach does Mr.
Donaghy's conduct fall into?
a. Taking what does not belong to you
b. Conflict of interest
c. Committing interpersonal abuse
d. None of the above
In the Bank of America/Merrill Lynch acquisition case, a federal judge blocked further
action by the company:
a. Until it could establish that its acquisition did not violate antitrust laws.
b. Until it settled any state charges brought against Bank of America.
c. Until Mr. Lewis resigned.
d. Until there was further information regarding waiver of the attorney/client privilege.
What conduct was Gadams involved in while at Golden Plains School?
a. Led a panty raid
b. Made sexual overtures to students
c. Made sexual remarks to students
d. b and c only
e. All of the above
Facebook's IPO was:
a. The third largest in Wall Street history.
b. A fraud.
c. Issued without registration.
d. Postponed indefinitely.
Which of the following would be a breach of trust and ethics?
a. Sharing a new product idea with a prospective employer
b. Leaving your current employment for a higher paying job
c. Leaving your current employment for a job with more flexibility
d. Taking the skills you have learned at a current job to a new job
e. All of the above are breaches of trust and ethics
How many Lockheed Martin documents did Boeing have?
a. Two bid proposals
b. One file folder
c. Three boxes
d. Eleven boxes
What was the major issue uncovered in the Colorado MMS audit?
a. Embezzlement
b. Inflated travel expenses
c. Conflicts of interest
d. A waiver of the ethics policy
What did the sign in Enron's lobby read?
a. The World's Premier Energy Company
b. The Innovator
c. The World's Leading Company
d. None of the above
Arthur Andersen was convicted of what crime in relation to its work on Enron?
a. Conspiracy
b. Obstruction of justice
c. Mail fraud
d. All of the above
Describe John Rigas, the former CEO of Adelphia.
Who paid fines in relation to the Facebook IPO?
a. Morgan Stanley
b. NASDAQ
c. Both a and b
d. No one was fined because the IPO was not issued yet
Lehman Brothers (now bankrupt) was able to use an accounting strategy known as
Repo 105 to spin debt off its books so that it appeared to be less leveraged than it was.
Which of the following is correct?
a. Lehman's accounting strategy was similar to that of Enron.
b. Lehman's accounting strategy was similar to that of WorldCom.
c. Lehman's accounting strategy was similar to that of Bausch & Lomb.
d. Lehman's accounting strategy was similar to that of Tyco.
Which of the following was not a description of Ann Hopkins that appeared in the
comments from the partners at Price Waterhouse?
a. "Overcompensated for being a woman"
b. She should "walk more femininely, talk more femininely, dress more femininely,
wear make-up, have her hair styled, and wear jewelry"
c. She should "get a husband"
d. All of the above were comments made by the partners
Why did Kearns have to pay sanctions?
a. He withheld information during discovery
b. His son dated a paralegal and gained information from defense lawyers
c. He disappeared for days during jury deliberations
d. None of the above
With respect to #66, it is not necessary for the company to take any action to correct the
problem or refund money for those who already own the new calculator.
The Foreign Corrupt Practices Act does not apply to U.S. companies when they have
operations outside the United States.
With respect to #20, it is not necessary for the company to take any action to correct the
problem or refund money for those who already own the new calculator.
Employer hiring practices must be balanced with prospective employees' rights to
privacy.
Equal treatment and opportunity is generally a part of labor policies and principles.
An engineer for the Shaw Group managed a project that Shaw was doing for the U.S.
government. Under the terms of the contract, Shaw stood to earn a $2.2 million bonus
on the contract if it kept the reportable injuries and lost-work days below certain levels
during the course of the project. The project engineer, who received a bonus if the
company met the federal bonus goals, misclassified injuries, failed to report others, and
made those who were injured wait to seek medical treatment so that he could meet
quarterly injury goals. Discuss the engineer's behavior in light of what you learned in
Unit 4 on culture.
Peter Drucker believes that the ethical obligation of business is to bluff within reason.
Taking information from a confidential file accidentally left on your desk is not
unethical.
Long-term relationships create ethical and legal obligations between the parties through
conduct and accommodations.
Develop a chart on the tone-at-the-top factors you see in HealthSouth and the other
companies.
Recording artists and Hollywood actors have used bankruptcy as a means of being
relieved of contract obligations.
Home Depot's board refused to terminate CEO Nardelli despite shareholder demands.
Toyota was clear on the cause of accidents in its vehicles from the first complaint of
sudden acceleration.
You are a building inspector for the county. A friend of yours is a plumbing contractor.
Under county regulations, all steps in plumbing construction from the initial dig to the
final installation of sink and bathroom fixtures requires an inspection sign-off. Your
plumbing contractor friend has just called and wants to take you to dinner for your
birthday at a five-star restaurant. Because you are friends anyway, the dinner presents
no ethical problems.
What category of ethical dilemma applies to the use of cell phone alibis?
a. Balancing ethical dilemmas
b. Giving or allowing false impressions
c. Conflicts of interest
d. Organizational abuse
Robert Halfon is a proponent of stakeholder theory of the corporation.
A researcher must disclose stock ownership in a company that manufactures a product
that competes with the subject of his research.
With respect to #4, it is not necessary for the company to take any action to correct the
problem or refund money for those who already own the new calculator.
It is more ethical to remain silent about misdeeds.
Murry Gunry was a Harvard MBA who rigged his election as an officer in the Finance
Club.

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