DIPLAHAN NATIONAL HIGH SCHOOL

Poblacion, Dipalahan, Zambaonga Sibugay

4rd QUARTER PRE-EXAM SY 2022-2023

Grade 12 – Business Ethics and Social Responsibility

SET A

Sir Key Villarin

Subject Teacher
Direction: Choose the letter of the correct answer and shade the corresponding letter at the answer sheet provided.

1. What refers to the obligation to demonstrate that work has been conducted in compliance with agreed rules and standards or to
report fairly and accurately on performance results vis-a-vis mandated roles and/or plans of an individual or an organization to
account for its activities, accepts responsibility for them, and to disclose the results in a transparent manner?
a. Responsibility b. Accountability c. Transparency d. Fairness

2. What responsibility of an entrepreneur to pay their employees of their business at least the minimum hourly wage in their
locality?
a. Pay wages/salaries and taxes c. Create and maintain an ergonomic workplace
b. Assignment of right jobs d. None of the these

3. What responsibility of an entrepreneur in which employees cannot be disadvantaged, dismissed, or not given employment for any
mentioned?
a. Facilitate employees’ compensation insurance c. Train and educate employees
b. Support career development d. Enforce anti-discrimination law

4. What are the true assests of an organization that is considered the ones who contribute effectively towards the success of every
business?
a. Businessmen b. Employees c. Costumers d. Supliers

5. What resposibility to the Government does Jenny adheres to as she ensures fully complied requirements in the establishment of
her new Fit and Wear business?
a. Compliance of government Rules c. Assumption of welfare arrangements
b. Payment of taxes d. Cooperate with the Goverment for economic development

6. Of the responsibilities and accountabilities of entrepreneurs to the government, what is their responsibility about paying taxes?
a. To evade paying taxes whenever possible
b. To honestly pay various types of taxes like income, sales, excise, tariff duties, and wealth tax
c. To pay only the taxes that they think are fair
d. To seek political patronage from politicians to avoid paying taxes

7. What responsibility of the entrepreneur towards the government in terms of compliance laws and policies?
a. Ignoring government rules and regulations c. Paying taxes
b. Correcting government machinery d. Seeking political patronage by unfair means

8. What is the entrepreneur's responsibility towards their suppliers in terms of pricing?

a. Pay the lowest possible price for materials c. Pay a premium price for materials
b. Pay a reasonable price for materials d. Pay whatever the supplier demands

9. Statement 1: The Entrepreneur should not provide information about possible future development to the suppliers, in time, so that
they mold themselves according to the changing circumstances.
Statement II: Entrepreneur should provide cooperation to the government by proper utilization of available resources in
accordance with the government targets.

Which of the above statements is/are true

a. Both Statements are true c. Only Statement II is true
b. Only Statement 1 is true d. Both Statements are false

10. Which ethical issue of personnel and customer relations is describe on interference of business decisions arised from personal
family issues?
a. Mistreating Employees c. Employee Behavior
b. Family-Run business d. Employee working conditions

11. What Kind of social responsibility that follows moral and ethical values to deal with all the stakeholders?
a. Ethical responsibility c. Philanthropic responsibility
b. Legal responsibility d. Economic responsibility

12. What is the most basic responsibility that maximizes the shareholders’ value by paying good return?
a. Economic responsibility c. Ethical responsibility
b. Philanthropic responsibility d. Legal responsibility

13. What is a very broad concept that is understood and implemented differently by each firm who’s idea is to operate in an
economically, socially, and environmentally sustainable manner?
a. Philanthropic responsibility c. Corporate Social Responsibility
b. Economic responsibility d. Ethical responsibility
14. Which of the following is an example of philanthropic responsibility in corporate social responsibility (CSR)?
a. Improving the firm's manufacturing process to minimize wastage
b. Following the rules and regulations set by the government
c. Being environmentally friendly in the firm's activities
d. Donating funds or goods and services to the society, funding educational programs, supporting health initiatives, and
community beautification projects.

15. What is the difference between legal responsibility and ethical responsibility in corporate social responsibility?
a. Legal responsibility is mandatory by law, while ethical responsibility is not codified in law but expected by society.
b. Legal responsibility is optional, while ethical responsibility is mandatory by law.
c. Legal responsibility involves participating in sustainable practices, while ethical responsibility involves following laws and
regulations.
d. Legal responsibility involves philanthropic activities, while ethical responsibility involves improving the firm's business
operations.

16. What is financial freedom according?

a. Having lots of money to spend on luxuries.
b. Having enough residual income to cover living expenses and pursuing things you love.
c. Having a high-paying job and a large savings account.
d. Being able to retire early and travel the world.

17. Which of the following is a benefit of businesses with sustainable strategies for their employees?
a. Increased production and efficiency
b. Higher levels of fraud and mismanagement
c. Lower employee morale
d. Increased productivity and creativity

18. What is the importance of setting life goals in achieving financial freedom?
a. It allows you to spend your money without any plan.
b. It helps you establish a financial milepost at regular intervals.
c. It makes you forget about your expenses.
d. It leads to overspending and debt.

19. Which of the following actions is NOT recommended, for Sam who wants to achieve financial freedom?
a. Creating a monthly budget and sticking to it.
b. Paying off credit card balances in full to avoid interests and fees.
c. Spending more money than you can afford.
d. Investing your money to grow it over time.

20. Which of the following scenarios represents a violation of the ethical principle of basic fairness in entrepreneurship?
a. A business owner refuses to hire someone because of their race
b. A partner in a business decides to buy out their partner's interest without just cause
c. A business executive fails to properly investigate a matter that affects their company's shareholders
d. A business manager requires all employees to work overtime without compensation

21. How would you describe the legal cause of action that occurs when one or more parties fail to honor a binding agreement or
bargained-for exchange by either not performing or interfering with the other party's performance?
a. Environmental Degradation c. Dumping
b. Breach of contract d. Fraud

22. How can companies prevent fraud and misrepresentation in their business practices?
a. By implementing strict internal controls and regular audits
b. By encouraging employees to engage in fraudulent activities
c. By ignoring warning signs of potential fraud
d. By avoiding transparency and accountability in their operations

23. How can environmental degradation be addressed according to the entrepreneurship literature and environmental economics?
a. Entrepreneurship literature suggests ignoring the issue, while environmental economics advocates for increased
government regulation.
b. Both entrepreneurship literature and environmental economics suggest market-based solutions to address the issue.
c. Environmental economics suggests creating new markets to address environmental degradation, while entrepreneurship
literature suggests relying on existing markets.
d. Entrepreneurship literature and environmental economics both suggest focusing solely on conservation efforts to
address environmental degradation.
24. A new company has just been established, and the CEO is determined to be successful in the market. The CEO knows that the first
responsibility of the business is to be profitable, so they focus all their attention on maximizing profits in the short-term. However,
some employees start to complain about the quality of the products, and some customers are dissatisfied with the price of the
products. Faced with complain the CEO still continuing to prioritize profits over the needs of their employees and customers.

Which levels of Corporate Social Responsibility fulfill the CEO’s action?

a. Economic responsibility c. Ethical responsibility
b. Philanthropic responsibility d. Legal responsibility

25. A large corporation that manufactures consumer goods wants to improve its public image after being criticized for its negative
impact on the environment. In response, the company decides to donate a portion of its profits to a local environmental
organization that works towards reforestation and conservation efforts. The company hopes that by doing so, it will not only help
to offset its negative impact on the environment but also attract environmentally conscious customers who are more likely to
support socially responsible companies. The donation will come out of the company's profits, but the executives believe that the
positive publicity and public relations benefits will outweigh the cost. This decision is in line with the company's values and mission
to be a socially responsible corporate citizen.
Which levels of Corporate Social Responsibility is set out by corporation’s response?
a. Economic responsibility c. Ethical responsibility
b. Philanthropic responsibility d. Legal responsibility

26. How can a company improve employee loyalty, productivity, and creativity while reducing fraud and mismanagement?
a. Offering one-time bonuses and incentives
b. Implementing strict rules and regulations
c. Providing sustainable employment strategies
d. Increasing workload and responsibilities for employees

27. You are a financial advisor tasked to help a client who is struggling to manage their finances. After a thorough assessment of their
financial situation, you found out that they have been overspending and struggling to make ends meet. To address this, you
recommended creating a budget and tracking their expenses. You advise them to list down all their monthly dues and make a
monthly budget for all their expenses. You emphasize the importance of sticking to the budget and avoiding unnecessary
purchases. Additionally, you suggest that they download a budgeting app or use a spreadsheet to keep track of their expenses and
monitor their progress.
What is the recommended solution to help the client manage their finances effectively?
a. Invest in stocks and bonds to increase income
b. Take out a loan to pay off all outstanding debts
c. Create a monthly budget and track expenses
d. Continue to overspend and hope for the best.

28. What is a very broad concept that is understood and implemented differently by each firm who’s idea is to operate in an
economically, socially, and environmentally sustainable manner?
a. Philanthropic responsibility c. Corporate Social Responsibility
b. Economic responsibility d. Ethical responsibility
29. Which statement best evaluates the role of knowledge in protecting against fraud?
a. Knowledge is essential in identifying fraudulent activities and preventing them from happening.
b. Knowledge provides a guarantee against being deceived by fraudulent activities.
c. Knowledge enables individuals to track their transactions and protect their rights in case of fraud.
d. Knowledge is not necessary in preventing or identifying fraudulent activities.

30. Statement 1: Investing in good health with regular check-ups to doctors and dentists can prevent ailments, decrease healthcare
costs, and potentially avoid loss of income due to limited sick days or forced early retirement.
Statement 2: Investing is the best way to grow your money through compounded interest, but it requires patience to achieve
significant growth.
Which of the statements above is/are true about achieving financial freedom?
a. Only statement 1 is true c. Both statement true
b. Only statement 2 is true d. Both statements are false

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