Exam for Chapter 1 Essay

1217 WordsFeb 13, 20135 Pages
* Question 1 10 out of 10 points | | | A group of young professionals were discussing the relationship between law and business. Adam argues that law primarily benefits the owners of businesses at the expense of workers and customers, while Beth takes the opposite position - that law primarily benefits the individual employees, customers and others, at the expense of the owners of businesses. Charlie posits that all parties are better off because of the presence of law, while David asserts that law is not a significant factor in the conduct of business. Based on your text, which person's view is most accurate? Answer | | | | | Selected Answer: | C. Charlie | Correct Answer: | C. Charlie | Response Feedback: | Correct!…show more content…
See the discussion of "The Ethical Business Leader's Decision Tree" on page 26-29. | | | | | * Question 6 10 out of 10 points | | | Which of the following is most correct about how law in various countries relates to corporate governance? Answer | | | | | Selected Answer: | C. Much of the current debate on what constitutes good corporate governance turns on how much weight to give to the interests of shareholders, debtholders, employees, customers and suppliers, and to the protection of the environment. | Correct Answer: | C. Much of the current debate on what constitutes good corporate governance turns on how much weight to give to the interests of shareholders, debtholders, employees, customers and suppliers, and to the protection of the environment. | Response Feedback: | Correct! Much of the current debate on what constitutes good corporate governance turns on how much weight to give to the interests of shareholders, debtholders, employees, customers and suppliers, and to the protection of the environment. See "Law and Public Policy" on page 6 in the text, and Exhibit 1.3 on page 7. | | | | | * Question 7 10 out of 10 points | | | Which of the following best describes how law and ethics are related? Answer | | | | | Selected Answer: | c. The law does not prohibit all bad behavior. An action that is unethical may

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