COMMONWEALTH HIGH SCHOOL

Ecols Street Commonwealth Ave. Q.C.

SENIOR HIGH SCHOOL
1st PERIODICAL TEST
BUSINESS ETHICS & SOCIAL RESPONSIBILITIES (G-11)

NAME: YR. & SEC. DATE SCORE

I. DIRECTION: Select the best answer. Write the letter of the correct answer on the space provided.
_____1. What is the term which describes the opportunity for shareholders and potential investors to openly observe
companies’ financial transactions? c
a. Social audit c. Transparency
b. Code of Ethics d. Philanthropy
_____2. Which of the following is the best explanation of radical transparency?
a. The concept of removing all barriers to—and the facilitation of –free and easy public access to corporate
information.
b. A concept leading to better decision—making and faster error correction.
c. A management method where nearly all decision—making is carried out publicly.
d. Operating in such a way that it is easy for others to see what actions are performed.
_____3. Is an organization or economic system where goods and services are exchanged for one another or for money.
a. Business c. Agency
b. Firm d. Corporation
_____4. Which of the following does transparency imply?
a. Accountability c. communication
b. Openness d. closeness
_____5. Which of the following is the best explanation of corporate transparency?
a. Operating in such a way that it is easy for others to see what actions are performed?
b. The concept of removing all barriers to—and the facilitation of—free and easy public access to corporate
information
c. A concept leading to better decision—making and faster error correction
d. A management method where nearly all decision—making is carried out publicly
_____6. What does open communication allow?
a. Opinions and ideas
b. An excess of knowledge
c. Science, engineering, business, and the humanities
d. The possibility of self-correction and group problem-solving
_____7. Is a business owned by two or more people.
a. Sole proprietorship c. Corporation
b. Partnership d. Incorporation
_____8. What type of companies do individuals tend to want to work for?
a. Ones in which ethical dilemmas are minimized.
b. Ones which display no ethical track record.
c. Ones in which there are pressures to act in an unethical way.
d. Ones which disregard environmental responsibility
_____9.What is a corporate ethics statement?
a. A detailed policy, containing specific behavioral requirements.
b. An agreement signed by employees stating that they will abide by the company’s rules of conduct
c. An exhortation in broad, highly generalized language
d. A seminar regarding business conduct.
____10. What is a corporate ethics code?
a. a seminar regarding business conduct.
b. an agreement signed by employees stating that they will abide by the company’s rules of conduct
c. an exhortation in broad, highly generalized language
d. a detailed policy, containing specific behavioral requirements
____11. A business include banks and other companies that generate profits through investment and management of
capital.
a. Service business c. Financial business
b. Transportation business d. Utilities

____12. Is simply knowing what to discuss during a business dinner or how to address colleagues
 a. Casual dress b. suit c. swimsuit d. uniform
____13. Showing respect also means?
a. Refraining from gossip and from being critical and negative to or about others.
b. Reading books and magazines.
c. Do story telling to the children.
d. Doing assignments everyday.
____14. The book, “The Practice of Management, that customer is a foundation of a business and keeps it in existence
Written by:
a. Peter Drucker c. Mark Schaefer
b. Jenny Blake d. Omotayo
____15. It is how a company encourages people to buy their products, services, or ideas.
a. Advertising c. Insurance
b. Marketing d. Compliance
____16. These are the guidelines developed by an organization to govern its actions.
a. Business Policies c. Business Protocols
b. Business Practices d. Business Ethics
____17. Filipinos are fond of non-verbal language or body language even in business meetings.
a. True c. False
b. Maybe d. Sometime
____18. Imported brandy and whiskey are prized gifts, even if the recipient does not drink alcohol
a. True c. False
b. Maybe d. Sometime
____19. Wrap gifts elegantly as the presentation is important.
a. True c. False
b. Maybe d. Sometime
____20. On building relationships in business, show others that you value their work by taking the time to visit and talk
with them.
a. True c. False
b. Maybe d. Never
____21. It refers to the process of product development as well as sales, promotion and distribution. It is often
Confused with promotion or advertising.
a. Marketing c. Documentation
b. Business Ethics d. Production
____22. It is the process of recording all financial transactions to keep track of the cash flow.
a. Accounting c. Marketing
b. Bookkeeping d. Documentation
____23. A kind of accounting system governed by certain rules which ensure that each transaction that takes
Place is reflected under two separate accounts.
a. Dual Bookkeeping c. Double-entry Bookkeeping
b. Double Bookkeeping d. Two-entry Bookkeeping
____24. The public reporting operating and financial data by a business enterprise.
a. Business Reporting c. Financial Statements
b. Annual Report d. Tax Reforms
____25. It refers to the processes and items which serve evidence for the validity of truth of a certain claim.
a. Documentation c. Business Reporting
b. Financial Statement d. Annual Report
____26. An act of giving particular attention, to hold in high or special regard, to honor or hold in high esteem
a. Justice c. Respect
b. Order d. Industry
____27. Let all your things have their places. Let each part of your business have its time.
a. Justice c. Respect
b. Order d. Industry
____28. Make no expense but to do good to others or yourself (ie. Waste nothing)
a. Frugality c. industry
b. Courage d. Integrity

____29. The quality of being impartial or fair; the administration of equitable law.
a. Justice c. Respect
b. Order d. Industry
____30. Mental or moral strength to venture, persevere, and withstand danger, fear, or difficulty.
 a. Courage c. Tranquility
b. Responsibility d. Industry
____31. What is the most important responsibility of business according to Milton Friedman?
a. Care of the environment c. contribute to the community
b. Take care of employees d. increase profits
____32. As an organizational manager, what is the best way to encourage ethical behavior in your employees?
a. Hide difficult decisions from employees
b. Have very strict rules in place
c. Ignore unethical behavior
d. Lead by example
____33. What happens if a company makes unsafe products?
a. The company can improve its profits
b. The company may have to recall the product and replace it at great expense
c. The unsafe products can improve the company’s reputation.
d. Customers will accept the unsafe products because they have no choice
____34. Which is of the following is NOT a responsibility that businesses owe to their shareholders?
a. Managers have a responsibility to use carefully the money invested.
b. Managers have a responsibility to honestly communicate company information
c. Managers have a responsibility to use their best judgment in developing, manufacturing, and marketing
their products
d. Managers have a responsibility to provide steady dividends for those shareholders who need it for
Retirement.
____35. Which of the following is the term for the employment practice where workers are prevented from taking
Advantage of work opportunities because of their race, gender, religion, or disability?
a. Selective hiring c. Discrimination
b. Affirmative Action d. Social Responsibility
____36. Which of the following approaches to ethical decision-making will yield an unethical decision?
a. Strive to treat people impartially and consistently
b. Apply existing laws to the situation
c. Remain within the letter of the law while intending to mislead people
d. Apply the Golden Rule to the situation
____37. The ethical norm of______ addresses people’s responsibilities to each other.
a. Rights c. utility
b. Caring d. justice
____38. Which of the following generally determines ethical behavior?
a. Individuals
b. Individuals and governmental entities
c. Businesses and individuals within business
d. Individuals and cultures
____39. What is a moral exemplar?
a. A non-absolute moral rule
b. A person who serves as a role model.
c. A situation that illustrates the consequences of a moral principle.
d. A person to whom the moral rules do not apply.
____40. This philosopher says that virtue is an all-or-nothing affair.
a. Aristotle c. Socrates
b. SparkNote d. Plato
____41. He concludes that contemplation is the highest human activity.
a. Aristotle c. Socrates
b. Courage d. Plato
____42. Jewish business ethics is base on___?
a. Torah c. Bible
b. Quran d. Christianity
____43. “Therefore all things whatsoever ye would that men do to you, do ye even so to them, is the
Golden Rule followed by?
a. Torah c. Buddhism
b. Quran d. Christianity
____44. Which of the following religion is based on four pillars of Dharma, way of,life, wealth and prosperity, desires,
and nirvana.
____45. “Work hard but rest well” is the teaching of ______?
a. Torah c. Buddhism
 b. Quran d. Christianity
____46. “Utang na Loob, is one of the Filipino value system which means
a. One does not forget the good deeds that others may have done to him or her.
b. Respecting old one.
c. Enjoying the help of others
d. Abusing the generosity of others
____47. Filial Piety means
a. Is a virtue of respect for one’s parents, elders, and ancestors.
b. Value system where one gains favor, promotion…
c. “loyal customer”
d. Bahhala na
____48. “Suki” system means
a. Is a virtue of respect for one’s parents, elders, and ancestors.
b. Value system where one gains favor, promotion…
c. “loyal customer
d. Bahala na
____49. “Amor Propio” means
a. Love of one’s self
b. Value system where one gains favor, promotion…
c. “loyal customer
d. Bahala na
____50. A type or business activities that offer professional skills, expertise, advice, and other similar product.

a. Service business c. Financial business

b. Transportation business d. Utilities

Prepared by:
CYNTHIA C. CABRAL
Teacher III

Checked & Validated by:

LORELINA G. MORERA
TLE Department, Head Teacher VI

Approved by:
DR. DIEGO M. AMID
Principal VI
I. DIRECTION: Presented are the income statement columns of the April and May 2012 worksheets for Mariam
Santiago Biomedical Company, prepare the May 2011 Income Statement.

Mariam Santiago Biomedical Company

Worksheet Income Statement Columns

April 2011 May 2011

Bio-Research Revenues P561,000 P753,000
Salaries Expense P224,000 P312,000
Rent Expense 18,000 24,000
Depreciation Expense 72,000 82,000
Office Supplies Expense 13,000 24,000
Utilities Expense 7,000 12,000