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Question
(p. 54) Which of the following statements is true of the financial functions of an organization?
A. The finance function of an organization can be divided into two distinct areas: primary activities and support activities.
B. The auditing function involves receiving money from customers and using that money to pay employees, suppliers, and all other creditors (taxes and the like), with hopefully enough left over to create a profit that can be either reinvested back into the business or paid out to owners/shareholders.
C. The financial transactions function offers certification of an organization's financial statements, or "books," as being accurate by an impartial third-party professional.
D. The accounting function keeps track of all those financial transactions by documenting the money coming in and money going out and balancing the accounts at the end of the period.
Answer
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Related questions
Q:
(p. 200) Explain the stages for making ethical behavior sustainable for an organization.
Q:
(p. 207) Policies that result when organizations are driven by events and/or a fear of future events are called _____.
Q:
(p. 207) _____ is a characteristic of an organization that maintains open and honest communications with all its stakeholders.
Q:
(p. 202) The hiring of a(n) _____ represents a formal commitment to the management and leadership of an organization's ethics program.
Q:
(p. 203) Which of the following should an organization avoid doing with respect to a company's ethics policy?
A. Awarding prizes for ethical behavior
B. Declaring an Ethics Day, and allowing every department to share success stories
C. Communicating only to internal stakeholders
D. Recognizing employees who represent the standard of behavior to which the company is committed
Q:
(p. 202) According to the Ethics and Compliance Officers Association, which of the following is most likely the chief responsibility of an ethics officer?
A. Establishing a loyal customer base
B. Conducting surveys with customers to improve customer service
C. Oversight of hotline/guideline/internal reporting
D. Maintaining the information systems in the organization
Q:
(p. 201) Which of the following is an accurate statement about an organization's code of ethics?
A. There are a few perfect models for a code of ethics.
B. The audience for a code of ethics includes only the shareholders of an organization.
C. The code of ethics captures every possible event from each department of an organization.
D. The code of ethics is written for the employees to follow, and the stakeholders aren't required to follow it.
Q:
(p. 200) A well-written code of ethics:
A. states policies for behavior in specific situations.
B. distinguishes between punishments for violations of ethics for different managerial levels.
C. establishes a detailed guide to acceptable behavior exclusively for external stakeholders.
D. documents rewards for selected top management employees on fulfillment of ethical policies.
Q:
(p. 200) After hiring an ethics officer, which of the following is the immediate next stage in making ethical behavior sustainable for a company?
A. Monitoring the ethical behavior of employees continuously as the company grows
B. Establishing a code of ethics
C. Rewarding ethical behavior demonstrated by employees
D. Supporting the code of ethics with extensive training for every member of the organization
Q:
(p. 200) Altra Partners (AP) believes that a company's commitment to ethical behavior impacts every managerial level and every department of the organization. It has recently established a code of ethics and started an extensive training for every member of the organization. Which of the following steps is most likely to be undertaken by AP next?
A. Hire an ethics officer
B. Promote ethical behavior among shareholders
C. Reward ethical behavior demonstrated by employees
D. Monitor ethical behavior of the employees
Q:
(p. 200) HP Chase Inc., an investment banking firm, has decided to make ethical behavior sustainable for the organization. It has established the process of monitoring and enforcement of ethical behavior by establishing a code of ethics. Which of the following is the step that HP Chase Inc. is most likely to undertake next?
A. Reward ethical behavior demonstrated by the board of directors
B. Hire an ethics officer
C. Reward ethical behavior demonstrated by employees
D. Support the code of ethics with extensive training for every member of the organization
Q:
(p. 206) Smaller companies need to include their code of ethics as part of any strategic planning exercise to make sure it is as up to date as possible.
Q:
(p. 202) The chief responsibility of an ethics officer is to assess competitors' strengths and weaknesses.
Q:
(p. 201) There is no perfect model for a code of ethics.
Q:
(p. 200) A well-written code of ethics can establish a detailed guide to acceptable behavior.
Q:
(p. 200) Demanding customers who want new and better products and services at lower prices represent a typical market.
Q:
(p. 186-187) The _____ represents a more governmental approach to the same issues featured in the UN's nongovernmental Global Compact.
Q:
(p. 183) The European Economic Community is an example of a(n) _____ of countries that work together to leverage their size and geographical advantage to take bigger roles on the global economic stage.
Q:
(p. 187) Which of the following is true of the OECD guidelines for multinational enterprises?
A. The guidelines act in opposition to the UN Global Compact.
B. The guidelines apply solely to local and regional trade blocs.
C. The guidelines carry no criminal or civil enforcement.
D. The guidelines are legally binding for American companies.
Q:
(p. 187) In what way does the UN Global Compact differ from the OECD guidelines for multinational enterprises?
A. Unlike the UN Global Compact, the OECD guidelines uses a more governmental approach for the same issues.
B. Unlike the OECD guidelines, the UN Global Compact ignores most areas of environmental concern.
C. Unlike the UN Global Compact, the OECD guidelines believes that businesses should eliminate forced labor.
D. Unlike the OECD guidelines, the UN Global Compact applies only to companies operating in their own country.
Q:
(p. 186) The OECD guidelines for multinational enterprises were initially a part of the _____.
A. Public Company Accounting Oversight Board
B. The International Federation of the Red Cross
C. Dodd-Frank Wall Street Reform and Consumer Protection Act
D. Declaration on International Investments and Multinational Enterprises
Q:
(p. 185) Which of the following laws holds American companies accountable for their ethical performance in the United States?
A. The Comstock Act
B. The National Emergencies Act
C. The Foreign Corrupt Practices Act
D. The Rehabilitation Act
Q:
(p. 183) Which of the following is true of the guidelines offered by Richard DeGeorge for organizations doing business in other countries?
A. His guidelines represented an ethical ideal that, at best, provided a conceptual foundation.
B. His guidelines were lauded for covering all the severe types of business transgressions.
C. His guidelines only addressed multinational corporations working in developed countries.
D. His guidelines endorsed the principles of utilitarianism: the ends justify the means.
Q:
(p. 183) How can an organization move its ethical commitment to a global scale successfully?
A. By creating an ethical standard that respects the local customs of the other countries.
B. By increasing the scale of their policies and procedures to a corresponding degree.
C. By translating all their existing policies into the local language.
D. By working in the absence of standard ethical policies wherever possible.
Q:
(p. 182) Which of the following concepts is illustrated by a company which, when doing business abroad, takes advantage of the local customs to justify an action that is illegal in its home country?
A. Ethical relativism
B. Experientialism
C. Moral universalism
D. Existentialism
Q:
(p. 182) _____ is a philosophical position in which ethical principles are defined by the traditions of society, personal opinions, and the circumstances of the present moment.
A. Deontological ethics
B. Ethical consequentialism
C. Ethical relativism
D. Experientialism
Q:
(p. 181) Globalization raises concerns about the:
A. restricted access multinational companies have to less-developed countries.
B. ethical behavior of economically advanced nations toward developing ones.
C. inability of multinational companies to reduce their production costs.
D. spread of socialism by multinational corporations in the Americas and Europe.
Q:
(p. 180-181) Which of the following is true of utilitarianism?
A. It believes that the ends do not justify the means under any circumstances.
B. It leads to situations in which there is no accountability for individual actions.
C. It is an ethical philosophy that judges morality based on individual character.
D. It is an ethical philosophy that judges morality based on individual motives.
Q:
(p. 186) As per the UN Global Compact, businesses should support a precautionary approach to environmental challenges.
Q:
(p. 183) In the guidelines he set down for organizations doing business in other countries, Richard DeGeorge stated that it was acceptable for a company to harm the host country only if it served the greatest good for the greatest number of people.