Responsibility and Purpose of Corporate Moral Agency  MCQs

Responsibility and Purpose of Corporate Moral Agency  MCQs

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1: Corporate mindset flows from a firm’s norms and_____, along with a discrete set of factual beliefs?

A.   Value

B.   Appreciate

C.   Appraise

D.   Disrespect

2: The idea that a corporation has qualities different to those of a person is known as Corporate moral agency?

A.   True

B.   False

3: A______group, organized for a business purpose, that has been authorized by a sovereign state to act as a single entity and is recognized as such in law?

A.   Conglomerate

B.   Conglomerate

C.   Corporation

D.   None of these

4: Fiduciary relationship: a certain party is entrusted with property, information, or power to make a decision that entails discretionary____ for the benefit of someone other than this trusted party?

A.   Judgments

B.   Verdicts

C.   Considerations

D.   Determinations

5: The Property model that shareholders’ interests have primacy in all corporate affairs because they effectively “other” the corporate assets?

A.   True

B.   False

6: The social entity model corporation exists only to create shareholder wealth but also to not satisfy the needs of customers, to provide jobs for employees, and to contribute to the vitality of the local community?

A.   True

B.   False

7: The least suppliers will accept for their inputs Supplier opportunity cost is a ?

A.   The least suppliers will accept for their inputs

B.   The consumers are willing to pay to the industry that has been produced or created of any shape or kind

C.   Both a and b

D.   None of these

8: The_______ is a most consumers will pay for a product, which usually corresponds to the price

A.   Willingness to pay

B.   Disinclination

C.   Unwillingness to pay

D.   None of these

9: A group organized for a business purpose, which has been authorized by a sovereign state to act as a single entity and is recognized by the law, is a ______.

A.   Shareholder

B.   Corporation

C.   Stakeholder

D.   Board

10: Who typically controls a corporation?

A.   Shareholders

B.   Executives

C.   Board or directors

D.   Stakeholders

11: A corporation is considered ______, as it has objectives and is governed by certain rules or norms as it makes choices to realize its objectives.

A.   A legal entity

B.   A person

C.   A standard

D.   A moral agent

12: What flows from a corporation’s norms, values, and beliefs?

A.   Morals

B.   Corporate strategy

C.   Corporate mindset

D.   Simplicity

13: Agility is an example of a ______.

A.   Value

B.   Belief

C.   Moral

D.   Mission

14: The distinctive mark of personhood that supports a corporation being a moral agent is ______.

A.   Ethics

B.   Abiding by the law

C.   Subjectivity

D.   Sound reasoning

15: A corporate mindset ______ the actions of corporation.

A.   Judges

B.   Directs

C.   Constrains

D.   Qualifies

16: The chief executive officer and other managers are responsible for ______.

A.   Formation of the corporate conscience

B.   Moral projection

C.   Nonmoral commitments

D.   Doctrines of corporate personhood

17: Those who reject corporate personhood or moral agency view corporations as having only one purpose. What is that one purpose?

A.   Profit sharing

B.   Creating job

C.   Shareholder gains

D.   Common good

A.   Social entity

B.   Property

C.   Moral

D.   Modified entity

19: The social entity model supports the thinking that corporations have evolved into a

A.   Socialist governance

B.   Social institution

C.   Moral agency

D.   Corporate power

20: The social entity model embraces the idea that the corporation’s purpose is broader than the wealth of shareholders. It considers the rights of stakeholders in ______.

A.   Decision-making

B.   Economic rationality

C.   Compliance with the law

D.   Social purposes

21: What is a criticism of the social entity model?

A.   It prioritizes the wealth of stakeholders.

B.   There are no criteria to prioritize the claims of stakeholders.

C.   There are no rewards for shareholders who invest a lot of capital.

D.   The common good is prioritized over the shareholder gains.

22: The ______ states that the interests of shareholders take precedence as long as stakeholders are treated fairly.

A.   Social entity model

B.   Moral model

C.   Modified entity model

D.   Property model

23: What is the first obligation of a corporation?

A.   To create value and wealth

B.   To create supplier opportunity cost

C.   To create willingness to pay

D.   To create compliance with the law

24: Which term describes the least suppliers will accept for their inputs?

A.   Willingness to pay

B.   Value-added activity

C.   Supplier opportunity cost

D.   Labor costs

25: Which kind of strategy thrives on radical innovation with little competition and a high willingness to pay?

A.   Moral

B.   Economic

C.   Blue ocean

D.   Social welfare

A.   Honoring contracts

B.   Constraining self-interest

C.   Placing security over privacy

D.   Paying of bribes

27: Who does fiduciary law apply to?

A.   Employees, directors, and executives

B.   Employees, attorneys, and executives

C.   Suppliers, attorneys, and executives

D.   Corporate officers, directors, and executives

28: What is a primary purpose of fiduciary rules?

A.   To make money for stakeholders and the common good

B.   To honor contracts with suppliers and customers

C.   To ensure that corporate managers act on behalf of investors

D.   To promote the private interests of corporate managers

29: According to Thomas Aquinas, a law is a measure that binds us to the right way ______.

A.   To think

B.   To act

C.   To feel

D.   To evaluate

A.   It loses money for shareholders.

B.   It risks fines from the legal system.

C.   It undermines the common good.

D.   It risks selfish motives.

31: Principled moral reasoning fills the gaps created by deficiencies in the ______.

A.   Law

B.   Market

C.   Corporation

D.   Moral agent

32: What is the chief principle that should shape managerial decisions?

A.   Economic

B.   Legal

C.   Self-interest

D.   Common good

33: What are the moral principles by which moral agents should be guided?

A.   Right to privacy and basic moral duties

B.   Right to fair wage and basic moral duties

C.   Respect for fundamental human rights and basic moral duties

D.   Duties owned by others and basic moral duties