BUSINESS ETHICS AND SOCIAL RESPONSIBILITY

NAME:______________________________________ GRADE:___________ STRAND: _____________

PART I Direction: Encircle the correct answer.
1. Public health issues, Protecting the Environment, Recycling, Developing the quality of the
Work Force and Corporate Philanthropy are part of
a) Responsibilities to the General Public
b) Responsibilities to the customers
c) Responsibilities to the Employees
d) Responsibilities to the shareholders
2. Presidential Decree No. 442 is
a) Age Discrimination Law
b) Labor Code of the Philippines
c) Magna Carta for persons with disability
d) Manga Carta for Women
3. A business owned, managed established and financed by one person
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Business
4. An entity with economic resources or inputs, such as materials and labor to provide goods
and services.
a) Profit
b) Corporation
c) Business
d) Business Organization
5. What is the definition of Ethics?
a) Guiding principles on how to increase profit
b) A set of rules to improve business status
c) Moral principles that guides the conduct of individuals
d) Belief system in the business culture
6. Limited Liability Partnership (LLP) is
a) A partner that shares in the management and profit
b) A partner whose liability is limited to their investment
c) A partner whose only liable for their own actions and protected from acts of the other
partner
d) A partner that provide a framework for professional responsibility
7. Measures poverty in terms of income
a) Poverty line
b) Poverty Threshold
c) Food Threshold
d) Poverty
8. Lack of income or insufficiency of income to meet a household’s daily needs is
a) Poverty
b) Poverty line
c) Poverty Threshold
d) Food Threshold

9. This business organization has low organizational cost and license fees but has unlimited
liability
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Business
10.The difference between the amount earned and the amount spent in buying, operating or
producing something is
a) Profit
b) Business
c) Business Organization
d) Corporation
11.Business entities should be concerned about the welfare of society and how its actions
could affect the society as a whole
a) Corporate Social Responsibility
b) Legal Responsibility
c) Social Responsibility
d) Costumer Responsibility
12.This business organization is considered to have a double taxation of profits
a) Sole Proprietorship
b) Partnership
 c) Corporation
d) Manufacturing Business
13.The continuing commitment by business to behave to economic development while
improving the quality of life of the workforce and its families, community and the society is
a) Corporate Social Responsibility
b) Legal Responsibility
c) Social Responsibility
d) Customer Responsibility
14.Partner that share in management and profit is a
a) General Partner
b) Limited Partner
c) Limited Liability Partner
d) Partnership
15.The following are the type of business organization operated for profit except for
a) Merchandising Business
b) Retail Business
c) Service Business
d) Manufacturing Business
16.Consumers Act of the Philippines is also known as
a) RA 9710
b) RA 7394
c) RA 10911
d) RA 7310
17.A situation in which a business decision may be influenced for personal gain
a) Honesty and Integrity
b) Conflict of Interest
c) Whistle Blowing
d) Loyalty versus Truth

18.A form of business organization wherein business losses cannot be written off against
other income of the owners of the company
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Business
19.The following falls under Responsibilities to the Customers except for
a) The right to be safe
b) Workplace Safety
c) The right to be informed
d) The right to choose
20.The estimated minimum level of income needed to secure the necessities of life.
a) Poverty
b) Poverty line
c) Poverty Threshold
d) Food Threshold

Part II: Write TRUE if the statement is TRUE, otherwise write FALSE
_________ 21. Profit are usually complex enterprises involving major activities like purchasing,
manufacturing, Marketing, advertising, selling and accounting.
_________ 22. Partnership has unlimited life.
_________ 23. Rapid growth in the urban areas compared to the rural areas of the country,
Cultural discrimination and Failure of the government to provide access to good market
opportunities are solutions to poverty.
_________ 24. Milton Friedman, stated that the only social responsibility of business is to increase
its profit.
_________ 25. Partnership is said to be an association of two or more people who agree to operate
a business for profit.
_________ 26. Whistle blowing is telling the truth and adhering to deeply felt ethical principles in
business decisions.
_________ 27. Moral, Legal, Public Image and Pragmatic Reasons are solutions to eradicate
poverty.
_________ 28. One disadvantage of Partnership is the complexity of sharing profit
_________ 29. RA NO. 7394 (Consumers Act of the Philippines)
_________ 30. Corporate Philanthropy is using resources efficiently, minimizing pollution.

Direction: Write your answers at the back of your paper

31-36. Enumerate 6 solutions to eradicate poverty

37-40. Enumerate the four areas of responsibility stated by William Saucer

41-45. A certain employee of a construction firm discovered that the materials used by the
company in constructing buildings and houses are considered sub standard or not in accordance
to the specific quality the law demands. This employee had been with the company for 10 years.
If you are that employee should you be LOYAL or should you opt for TRUTH.

46-50. Explain and Expound DOUBLE TAXATION OF PROFIT in CORPORATION.