ETHICS-3rd Quarter Exam Questionnaire

Republic of the Philippines
Department of Education
Region XII
DIVISION OF KIDAPAWAN CITY
AMAS NATIONAL HIGH SCHOOL
Brgy. Amas, Kidapawan City
BUSINESS ETHICS AND SOCIAL RESPONSIBILITY

3rd Quarter Examination
Name: __________________________________________ Grade/Section:

___________________________________
TEST I - Directions: Read each item carefully. Choose the letter of the correct answer. Write your answer in
CAPITAL LETTER on the space provided before the number.
_____1. Which among the following refers to the difference between the amount received and the amount spent
on something purchased, produced, or manufactured?
A. Gain C. Business
B. Profit D. Taxes
_____2. It is an organization where economic resources or inputs, such as materials and services, are brought
together and distributed to deliver or to give consumer goods, products, or outputs. .
A. Business C. Manufacturing services
B. Service business D. Economic resources
_____3. The following are fundamental reasons for examining activities from a moral point of view, EXCEPT
___.
A. Help promote the common good
B. In principle
C. Aim to earn profit
D. Protect the rights and interests of individuals
_____4. Which among the following is NOT involved in significant business operations?
A. Assembling C. Accounting
B. Buying D. Marketing
_____5. Which among the following types of business organizations sell to customers products they buy from
other businesses?
A. Service Business C. Manufacturing Business
B. Merchandising Business D. Sole Proprietorship
_____6. What type of business organizations turn basic inputs into products which are sold to consumers?
A. Service Business C. Manufacturing Business
B. Merchandising Business D. Sole Proprietorship
_____ 7. Which of the following statement/s is/are TRUE?
Statement 1: The sole proprietor can own the business for as long as he/she wants, and when
he/she wants to move in, he/she can cash out and sell the business.
Statement 2: Handling money for the business is easier with sole proprietorship.
A. Only Statement 1 is true. C. Both statements are true.

B. Only Statement 2 is true. D. Both statements are not true.
_____ 8. Which among the following is/are the disadvantage/s of a sole proprietorship?
I. The business does not have any independent legal status.
II. There is a lack of financial control because of looser structure.
III. There could be difficulty in raising capital.
IV. There is a potential for differences and conflicts.
V. It may require a lot of time and energy and thus may affect the life-work balance.
A. III only C. I, II, and III

B. V only D. II and III
_____ 9. What forms of business organizations refer to an arrangement where individuals share a business
venture's profits and liabilities?
A. Partnership C. Sole Proprietorship
B. Corporation D. Manufacturing Service
_____ 10. Which is NOT true of a corporation?
A. The life of a corporation has no limit.
B. The business does not have any independent legal status.
C. The business operates even without any real oversight from the owners.
D. Corporation files taxes separately from its owners.
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_____11. All of these are advantages of a partnership, EXCEPT ______.
A. there is sharing of burden.
B. the partners both own and control the business.
C. there is better decision-making because two heads decide.
D. it has a lower start-up cost.
_____12. Which is NOT a nature of business?
A. It aims to earn profits.
B. There are four forms of business organization.
C. It is an active process.
D. It involves significant operations such as buying, assembling, etc.
_____13. Which is NOT a role of a corporation?
A. Corporation provides benefits such as connections with suppliers, etc.
B. Corporation makes massive quantities of goods.
C. Corporation hires a huge number of workers.
D. Corporation finds it difficult to raise capital.
_____14. The following are the advantages of a sole proprietorship, EXCEPT ______.
A. there could be difficulty in raising capital.
B. tax preparation is a lot faster.
C. the sole proprietor can pass the business down to his/her heir.
D. handling money for the business is easier.
For items 15-18, please refer to the choices below.

A. Accountability C. Transparency
B. Fairness D. Efficiency
_____15. It is the explication and justification process.

_____16. It is giving to a person what is due to him/her.
_____17. This approach makes a person more honest and sincere.
_____18. This means that the standard of judging is free from bias.
_____19. This act should be done accurately to the company’s investors.

A. Hiring C. Organizing
B. Reporting D. Auditing
_____20. An example of this act involves the firing of workers.
A. Efficiency C. Decision-making
B. Explication D. Justification
_____21. Why is ethics important in Business?
A. It will manipulate the standards of the company
B. Motivates and enhances constructive actions and builds an atmosphere that prevents
unethical behavior.
C. Business ethics will help to easily earn money in protection to privacy and price skimming that
will be a leading company.
D. Business ethics will build rapport despite misunderstanding.
_____22. How to apply ethics in the organization?
A. Encouraging every employee to respect and adhere ethical principles.
B. Requiring the employees to be submissive on company’s ethical standards.
C. To call the employees attention on unethical behaviour.
D. The organization will terminate employees with unethical issues.
_____23. How does price skimming happened in an organization?
A. A product pricing strategy that the firm charges the lowest initial price that customers will pay
and then higher it over time.
B. A product pricing strategy that the firm charges the highest initial price that customers will pay
and then lowers it over time.
C. Prices are set according to the demand in the market.
D. Prices are set according to the suppliers availability of stocks.
_____24. Which among the following is/are Human Resource Management’s task/s?
I. Labor relations
II. Trading conditions
III. Training and development
IV. Health and safety concerns
V. Honesty in price and delivery
A. III only C.I, IV, and V

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B. I, II, III and IV D. I, III, and IV
_____25. The following is the umbrella of finance and accounting to have fairness in ethical practices, EXCEPT
________.
A. Performance evaluation
B. Internal audits
C. Trading conditions
D. Executive compensation
TEST II: Directions: Analyze each sentence below and write whether it is True or False.
______ 26. Business is a passive process.

______ 27. Tax preparation is more difficult in a sole proprietorship than in a corporation.
______ 28. A corporation is a separate entity distinct from all the owners.
______ 29. Your liability as a shareholder is only limited to the amount of your investment.
______ 30. A partnership may generate funds through selling shares of stocks.
______ 31. A corporation may be owned by one person.
______ 32. Handling money for a sole proprietorship is easier than partnership.
______ 33. Book stores and sari-sari stores fall under the service businesses category.
______ 34. Manufacturing businesses include baked goods and cosmetics.
______ 35. The sole proprietor can pass the business down to his/her heir.
______ 36. A sole proprietorship needs higher start-up costs.
______ 37. Partnership business lacks formality compared with managing a limited company or corporation.
______ 38. Profit is the difference between the amount received and the amount spent on something
purchased, produced, or manufactured.
______ 39. Merchandising businesses turn basic inputs into products which are sold to consumers.
______ 40. In a sole proprietorship, the owner decides alone.
Test III: Classify each situation below whether it shows fairness, accountability, or transparency by
putting a ( ) check in the proper column.
SITUATION FAIRNESS ACCOUNTABILITY TRANSPARENCY

41. While fixing his table, Arthur accidentally
dropped the electronic calculator provided by
the company.
42. XYZ Enterprises gave all its employees
13th month pay.
43. Sonia and Rita fought inside the office.
Hence, both were suspended for three days.
44. The cashier took her noon break but
forgot to lock her drawer. To her
dismay, all her collections the whole morning
were stolen.
45. The book of sales of XYZ Corporation is
open for those who are interested.
46. The employee discovered that
his/her salary was short by P1,000 and asked
the payroll officer who, in turn, showed
him/her the records.
47. The purchaser of the company paid the
exact amount for the supplies.
48. The teller was short by P2,000.
49. The driver forgot to get the baggage.
50. The boss shows the receipt to the
accountant.
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Test IV: Read each sentence and classify each according to the ethical issue where it belongs. Choose
your answer from the box below and write the letter of the correct answer in the space provided
before the number.
_____ 51. XYZ Company does not accept members of LGBTQIA+ community.
_____ 52. Diggie’s hotdogs are made under strict processing standards.
_____ 53. The company accountant orders office supplies from her husband’s store.
_____ 54. Strawberry, a new brand of computer, launched its new laptops at an overpriced amount.
_____ 55. Lobo Enterprise rejects all differently abled persons.
_____ 56. Super Milk does not put on the can’s label the ingredients they used.
_____ 57. The food products of XYZ Corporation are well-sealed.
_____ 58. The manager joins the contract bidding of their proposed new building.
_____ 59. Lotlot, the accountant, bribed the personnel to reduce their company’s tax payable.
_____ 60. Robot Beverages hired a famous commercial model for its product promotion.
"Don’t let what you cannot do interfere with what you can do." —John Wooden

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Republic of the Philippines

BUSINESS ETHICS AND SOCIAL RESPONSIBILITY

Name: __________________________________________ Grade/Section:

A. Only Statement 1 is true. C. Both statements are true.

A. III only C. I, II, and III

For items 15-18, please refer to the choices below.

_____15. It is the explication and justification process.

_____19. This act should be done accurately to the company’s investors.

A. III only C.I, IV, and V

______ 26. Business is a passive process.

SITUATION FAIRNESS ACCOUNTABILITY TRANSPARENCY

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