20 MCQ'S

1.  Corporate ________ covers issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution.
A. responsibility
B. philanthropy
C. diversity
D. structure and strategy

2.  One strategy guaranteed to displease your customers is to:
A. provide a quality product at only a fair price.
B. focus on cost and quality control systems within your organization.
C. practice deception regarding product safety issues.
D. shift the production of goods to foreign facilities and layoff U.S. workers.

3.  Investors, today are realizing financial benefit by:
A. investing in companies who only operate in stable environments.
B. investing in firms that have abundant resources for social initiatives.
C. investing in companies who are committed to a better environment.
D. investing in companies who are leaving a sizeable carbon footprint.

4.  Insider trading involves:
A. an Internet activity that establishes a barter exchange system between businesses.
B. investors using private company information to further their own fortunes.
C. the exchange of assets between companies in the same industry.
D. a payment or reward for socially conscious behavior.

1.  The difference between an organization’s positive social contributions and its negative social impacts is called their:
A. social scorecard.
B. responsibility impact report.
C. net social contribution.
D. community commitment level.

2.  The purpose of a(n) ________ is to evaluate an organization’s progress towards implementing programs that are socially responsible and responsive.
A. accountability review
B. social audit
C. federal disclosure statement
D. annual report

3.  Going green means:
A. increased global warming.
B. increasing one’s bottom line, before any other social considerations.
C. increasing one’s carbon footprint
D. increasing one’s initiatives toward a concern for the environment.

4.  When a firm undertakes corporate social initiatives it is:
A. Making donations that are directly related to a firm’s corporate competency.
B. Making long-term commitments to one cause.
C. Hiring minority workers.
D. Making safe products.
Corporate social initiatives are actions where a company offers its distinctive competencies and deploys resources to help in emergency situations. Some companies maintain emergency response teams that are ready for deployment when global crises call for quick action.

1.  Top management at Big Bend Motorcycle Company is convinced that the company has a social responsibility to its community. Management believes that the firm can have the greatest impact in this area through cash contributions to nonprofit organizations. This is an example of:
A. graduated payments.
B. corporate philanthropy.
C. structure and strategy.
D. short run profit maximization.
Corporate philanthropy includes charitable donations to nonprofit groups of all kinds.

2.  When Bagel Works employs in-store recycling, composting, and uses nontoxic cleaners, Bagel Works is participating in:
A. corporate philanthropy.
B. corporate social initiatives.
C. corporate responsibility.
D. corporate policy.

3.  The difference between an organization’s positive social contributions and its negative social impacts is called their:
A. social scorecard.
B. responsibility impact report.
C. net social contribution.
D. community commitment level.

4.  We describe charitable donations by corporations to nonprofit organizations as __________.
A. corporate philanthropy
B. corporate responsibility
C. corporate strategy
D. structural commitment

Question 1
UCC Section 2-205 provides that all firm offers are irrevocable for three months.
TRUE
FALSE

Question 2
Sam’s price quote written on his company’s letterhead satisfies the UCC Section 2-205 requirement that a firm offer must be made in a signed writing.
TRUE
FALSE

Question 3
By submitting a bid to Fred for the construction project, Bill accepted Sam’s offer.
TRUE
FALSE

Question 4
Revocation of a Firm Offer must be communicated in writing to the buyer.
TRUE
FALSE

Question 1
Bill is entitled to receive cover damages from Sam in the amount of $1,000.00.
TRUE
FALSE

Question 2
Bill is entitled to receive punitive damages from Sam since Sam revoked his offer.
TRUE
FALSE

Question 3
According to the UCC Section 2-201, the Statute of Frauds requires that a contract for tiles in the amount of $8,000.00 must be in writing with the quantity stated and signed by both parties in order to be enforceable
TRUE
FALSE

Question 4
Steve and Bill entered into a valid shipment contract for the purchase of doors.
TRUE
FALSE