business ethics and social rssponsibility QUIZ NO. 1.pptx

quiz

1. BUSINESS ETHICS AND SOCIAL RESPONSIBILITIES QUIZ NO. 1

2. Multiple Choice. Choose the letter of the best answer. Write the chosen letter on a separate sheet of paper. It is a business owned by only one person. It is easy to set-up and is the least costly among all forms of ownership. a. Corporation b. Cooperative c. Partnership d. Sole Proprietorship

3. 2. It is a business owned by two or more persons who contribute resources into the entity. The partners divide the profits of the business among themselves. a. Corporation b. Cooperative c. Partnership d. Sole Proprietorship

4. 3. It is a business organization that has a separate legal personality from its owners. a. Corporation b. Cooperative c. Partnership d. Sole Proprietorship

5. 4. These are some of the characteristics that distinguish a corporation from proprietorships and partnership, EXCEPT: a. The corporation can sell stocks. b. The stockholders have limited liability. c. The corporation can have a continuous life. d. The corporation has the ability to obtain capital.

6. 5. What organization that is owned and operated by its members? a. Corporation b. Cooperative c. Partnership d. Sole Proprietorship

7. 6. Which of the following is true of selecting a form business organization? a. The choice is not time consuming, b. The choice will impact how much the entrepreneur pays in taxes, c. The entrepreneur cannot meet with professionals to reach a decision, d. The choice won’t impact the regulations an entrepreneur is exposed to

8. 7. When farmers pool their resources to purchase certain goods and services, they call their business as ____________________. a. Corporation b. Cooperative c. Partnership d. Sole Proprietorship

9. 8. Don starts a car paint business. He buys gallons of paint from Cisa Marketing and delivered to his costumers. What form of busines does he have? a. Corporation b. Distributor c. Partnership d. Sole Proprietorship

10. 9. Why is business ethics important in all forms of business organizations and even in the government offices? a. Have greater power and influence in society than ever before, b. Have a potential to provide a major contribution to our societies, c. Business malpractice have the potential to inflict enormous harm on individuals, communities and the environment, d. All of the above, since it is known as the set of moral principles or values, and the set maybe general or professionals.

11. 10. Allan, who is a graduate of Hotel Restaurant Management, opens a bakeshop. He buys baking flour and ingredients every weekend. He sells bread at a low price. What form of business does he have? a. Corporation b. Cooperative c. Partnership d. Sole Proprietorship

12. 11. Why do businesses play a vital role in the country? Because a. It sustains the peace and order of the country. b. It sustains the political stability of the country. c. It sustains the health development of the country. d. It sustains the economic development of the country.

13. 12. The following are immediate effects when a business organization become successful, EXCEPT: a. It generates more jobs to its residents. b. It prevents crime and insurgency in the community. c. It offers an improved quality of life for the community. d. It translates into the economic well-being of a company.

14. 13. Atty. Alma and associates stablish a Law firm. They provide legal and notarial services to the community. What form of business organization does she have? a. Corporation b. Cooperative c. Partnership d. Sole Proprietorship

15. Sole proprietorship and partnership are two common forms of business organization. But what really is their main difference? a. Sole proprietorship sells stocks, while partnership does not. b. Sole Proprietorship is taxed once, while partnership is taxed twice. c. Sole proprietorship is owned by person, while partnership is owned by more person. d. Sole proprietorship is usually adopted by small business entities, while partnership is not adopted.

16. 15. Don forms a D & A corporation to sell car paints. Transferring his ownership interest in the business won’t be difficult because ________ a. Don’s business is poorly capitalized. b. Don’s business is adequately capitalized. c. Don is not subjected to extensive regulation. d. Don has only to sell his stock to a new owner.

17. 16 . It is the explication and justification process. 17 . It is giving to a person what is due to him/her. 18 . This act should be done accurately to the company’s investors. 19 . This approach makes a person more honest and sincere. 20 . An example of this act involves hiring of workers. Identification: Identify what is being ask in the following statements.

18. Identify what principle (Accountability, Fairness or Transparency) is being applied in the following situations. _____21. Ms. Cruz uses rubrics in evaluating students’ task performance.

19. Identify what principle (Accountability, Fairness or Transparency) is being applied in the following situations. _______22. Manuel L. Quezon High School implements guidelines in conducting school activities like field trip.

20. Identify what principle (Accountability, Fairness or Transparency) is being applied in the following situations. ________23. Mrs. Delos Reyes entertains queries of students on the computation of their grades.

21. Identify what principle (Accountability, Fairness or Transparency) is being applied in the following situations. __________24. Ms. Jimenez, the department head, reported the financial statement of the department in full details.

22. Identify what principle (Accountability, Fairness or Transparency) is being applied in the following situations. _________25. The school’s guard reported the incident to the guidance office.

23. Directions: Analyze each sentence below and write whether it is True or False. 26. Tax preparation is more difficult in a sole proprietorship than in a corporation. 27. A corporation is a separate entity distinct from all the owners. 28. Your liability as a shareholder is only limited to the amount of your investment. 29. A partnership may generate funds through selling shares of stocks.

24. 30. A corporation may be owned by one person. 31. Handling money for a sole proprietorship is easier than partnership. 32. Book stores and sari-sari stores fall under the service businesses category.

25. 33. Fairness involves balancing the interests involved in all decision- making including decisions related to employees’ hiring, firing, compensation, and reward system. 34. Transparency allows stakeholders to understand whether the activities of social institutions such as internet organizations and NGOs provide a genuine service to civil society and whether money is used appropriately.

26. 33. Fairness involves balancing the interests involved in all decision- making including decisions related to employees’ hiring, firing, compensation, and reward system. 34. Transparency allows stakeholders to understand whether the activities of social institutions such as internet organizations and NGOs provide a genuine service to civil society and whether money is used appropriately.

27. 35. Transparency means to be liable to explain or justify one’s action and decision.

28. 1. D 2. A 3. A 4. D 5. B 6. A 7. B 8. D 9. D 10 . D 11. D 12. B 13. A 14. C 15. D TRANSPARENCY   TRANSPARENCY FAIRNESS   TRANSPARENCY ACCOUNTABILITY