BUS 251 Final Exam Study Part 1 (2026) |
Practice Questions & Verified Answers |
Business Foundations Review
Bundy's Bicycle Corporation, a U.S. corporation, had a windfall
year in profits and is looking for legal loopholes to avoid paying
taxes on it massive profit. To avoid taxes Bundy's merges with a
foreign business, simply to avoid paying for taxes in a process
called - Precise Answer ✔✔Corporate inversion
Sarah worked for Southwestern Botanical Gardens and loved her
job and loved her coworkers. Five years ago, her employer did
not pay her for a week's work, thereby breaching her
employment contract, because funds were very low. She decided
that she would let it slide because she wanted to see the
company make it through a difficult time. However, times have
changed and the management has changed and the current
managers does not value its employees or its central mission as
it had previously. Moral is low and employees are leaving left
and right. Sarah, wants to leave now in protest and she is
considering suing for the old breach of contract case she could
have pursued five years ago just to punish them and get as much
money out of the company. When Sarah approaches an attorney
about this, he informs her that she can no longer bring the
lawsuit because she waited too long and it would be unfair to
hold them currently - Precise Answer ✔✔Statute of limitations
Which type of legal theory ethics states that if people negotiate
,from a veil of ignorance people will negotiate ethical principles
that are fair to all? - Precise Answer ✔✔Contracts-based
John owns Marine Brewery and hires Beth to advise him on
business decision making. Beth is very aggressive and believes
that society is best served when seek a competitive advantage
and that ethical violations will harm the companies, always
advises John in a manner that focuses on finding that
competitive advantage. Beth employs which type theory of
corporate social responsibility? - Precise Answer ✔✔Invisible
hand
Religious documents, such as the Koran and the Old Testament
utilize what type of ethical decision-making regime? - Precise
Answer ✔✔Principles-based approach
__________, was a medieval theologian developed the theory
which state natural law is given by God; it is authoritative over
all human beings; and it is knowable through the use of reason. -
Precise Answer ✔✔Thomas Aquinas
After a rather unfortunate visit to the local hair salon, Janet asks
John if the hair on the back of her head has been trimmed evenly
and smoothly. John observes was not and actually she has many
bald spots as a result of her haircut. According to Immanuel
Kant's theory of ethical theory of categorical imperative ethical
decision making regime, which one of the following statement
should John make? - Precise Answer ✔✔"No! Your hair is not
trimmed evenly and smoothly."
,The utilitarian approach to moral philosophy was founded by -
Precise Answer ✔✔Jeremy Bentham
Tyke's Bikes is a bicycle sales and repair shop in a small city. It
sells new and used bikes with a narrow profit margin and does
repairs at minimal costs. Frequently, if a child comes into the
shop with a broken part or a flat tire, Tyke's makes the repair for
free if the child has no money. Tyke's also provides a free one-
hour repair class for those who want to learn how to fix their
bikes. At large local organized bike rides, Tyke's provides free
services, asking only for voluntary donations. Which theory of
corporate social responsibility is Tyke's exhibiting? - Precise
Answer ✔✔The broad view, or good corporate citizenship.
Modern Corporation operates a steel mill. It has never
contributed anything to the local community and it knowingly
polluted both the air and the river that runs by its mill. The
corporation's reasoning is that the cost of installing pollution
control devices would diminish its profits, and it supports the
community because it provides jobs and doesn't think it owes
anything else to the citizens in it area. Donating to the
community would also diminish its profits. Which theory of
corporate social responsibility is Modern Corporation
exhibiting? - Precise Answer ✔✔The narrow view or invisible
hand theory
Nobel Prize-winning economist Milton Friedman believed that -
Precise Answer ✔✔The only responsibility a business has is to
maximize shareholder wealth
, The broadest view of Corporate Social Responsibility is that
corporations have a social responsibility to which profit is
secondary is called - Precise Answer ✔✔Public theory
Which legal philosopher asserted that natural law is asserted by
God, that it is authoritative over all human beings and it is
knowable through the use of reason? - Precise Answer
✔✔Thomas Aquinas
Fly High Aviation provides maintenance for executive jets based
on private contracts with corporations that maintain airplanes for
company use. Which of the following is least likely to be a Fly
High stakeholder? - Precise Answer ✔✔The citizens who live
near the airports that planes maintained by Fly High fly into
Monmouth Publishing employs very brilliant attorneys to search
through the laws to find legal loopholes that benefit their profit
margin. They find a legal loophole which allows them to require
a certain sect of employees to work far under minimum wage,
often times taking advantage of people. Therefore, they decide
to fire all of their current employees in favor of the sect of
employees that they can pay under minimum wage. Are they
acting unethically? - Precise Answer ✔✔A particular act can be
deemed unethical yet still be legal.
Janet is on the board of directors of a public company. The
board is deciding on a new health care plan that would cost its
workers more than its current plan, but would save the company
millions. After asking herself how she would feel if this decision
was announced to the public on social media, Janet decided to
Practice Questions & Verified Answers |
Business Foundations Review
Bundy's Bicycle Corporation, a U.S. corporation, had a windfall
year in profits and is looking for legal loopholes to avoid paying
taxes on it massive profit. To avoid taxes Bundy's merges with a
foreign business, simply to avoid paying for taxes in a process
called - Precise Answer ✔✔Corporate inversion
Sarah worked for Southwestern Botanical Gardens and loved her
job and loved her coworkers. Five years ago, her employer did
not pay her for a week's work, thereby breaching her
employment contract, because funds were very low. She decided
that she would let it slide because she wanted to see the
company make it through a difficult time. However, times have
changed and the management has changed and the current
managers does not value its employees or its central mission as
it had previously. Moral is low and employees are leaving left
and right. Sarah, wants to leave now in protest and she is
considering suing for the old breach of contract case she could
have pursued five years ago just to punish them and get as much
money out of the company. When Sarah approaches an attorney
about this, he informs her that she can no longer bring the
lawsuit because she waited too long and it would be unfair to
hold them currently - Precise Answer ✔✔Statute of limitations
Which type of legal theory ethics states that if people negotiate
,from a veil of ignorance people will negotiate ethical principles
that are fair to all? - Precise Answer ✔✔Contracts-based
John owns Marine Brewery and hires Beth to advise him on
business decision making. Beth is very aggressive and believes
that society is best served when seek a competitive advantage
and that ethical violations will harm the companies, always
advises John in a manner that focuses on finding that
competitive advantage. Beth employs which type theory of
corporate social responsibility? - Precise Answer ✔✔Invisible
hand
Religious documents, such as the Koran and the Old Testament
utilize what type of ethical decision-making regime? - Precise
Answer ✔✔Principles-based approach
__________, was a medieval theologian developed the theory
which state natural law is given by God; it is authoritative over
all human beings; and it is knowable through the use of reason. -
Precise Answer ✔✔Thomas Aquinas
After a rather unfortunate visit to the local hair salon, Janet asks
John if the hair on the back of her head has been trimmed evenly
and smoothly. John observes was not and actually she has many
bald spots as a result of her haircut. According to Immanuel
Kant's theory of ethical theory of categorical imperative ethical
decision making regime, which one of the following statement
should John make? - Precise Answer ✔✔"No! Your hair is not
trimmed evenly and smoothly."
,The utilitarian approach to moral philosophy was founded by -
Precise Answer ✔✔Jeremy Bentham
Tyke's Bikes is a bicycle sales and repair shop in a small city. It
sells new and used bikes with a narrow profit margin and does
repairs at minimal costs. Frequently, if a child comes into the
shop with a broken part or a flat tire, Tyke's makes the repair for
free if the child has no money. Tyke's also provides a free one-
hour repair class for those who want to learn how to fix their
bikes. At large local organized bike rides, Tyke's provides free
services, asking only for voluntary donations. Which theory of
corporate social responsibility is Tyke's exhibiting? - Precise
Answer ✔✔The broad view, or good corporate citizenship.
Modern Corporation operates a steel mill. It has never
contributed anything to the local community and it knowingly
polluted both the air and the river that runs by its mill. The
corporation's reasoning is that the cost of installing pollution
control devices would diminish its profits, and it supports the
community because it provides jobs and doesn't think it owes
anything else to the citizens in it area. Donating to the
community would also diminish its profits. Which theory of
corporate social responsibility is Modern Corporation
exhibiting? - Precise Answer ✔✔The narrow view or invisible
hand theory
Nobel Prize-winning economist Milton Friedman believed that -
Precise Answer ✔✔The only responsibility a business has is to
maximize shareholder wealth
, The broadest view of Corporate Social Responsibility is that
corporations have a social responsibility to which profit is
secondary is called - Precise Answer ✔✔Public theory
Which legal philosopher asserted that natural law is asserted by
God, that it is authoritative over all human beings and it is
knowable through the use of reason? - Precise Answer
✔✔Thomas Aquinas
Fly High Aviation provides maintenance for executive jets based
on private contracts with corporations that maintain airplanes for
company use. Which of the following is least likely to be a Fly
High stakeholder? - Precise Answer ✔✔The citizens who live
near the airports that planes maintained by Fly High fly into
Monmouth Publishing employs very brilliant attorneys to search
through the laws to find legal loopholes that benefit their profit
margin. They find a legal loophole which allows them to require
a certain sect of employees to work far under minimum wage,
often times taking advantage of people. Therefore, they decide
to fire all of their current employees in favor of the sect of
employees that they can pay under minimum wage. Are they
acting unethically? - Precise Answer ✔✔A particular act can be
deemed unethical yet still be legal.
Janet is on the board of directors of a public company. The
board is deciding on a new health care plan that would cost its
workers more than its current plan, but would save the company
millions. After asking herself how she would feel if this decision
was announced to the public on social media, Janet decided to
