Chapter Exam

Chapter 18: Business Ethics and Corporate Governance — Online MCQ Test

Q: What does the term 'Business Ethics' primarily refer to?

Answer: B. Moral principles governing business conduct — Business ethics refers to the study of moral principles and standards that guide the behavior of individuals and firms in the business world.

Q: Which of the following is a fundamental principle of business ethics?

Answer: B. Integrity and honesty — Integrity and honesty are core ethical pillars required for building trust and maintaining fair business practices.

COMMERCE · CLASS 11th · Tamil Nadu State Board

Practice Chapter 18: Business Ethics and Corporate Governance with a free chapter-wise online MCQ test for Tamil Nadu State Board CLASS 11th COMMERCE. This chapter covers: Focusing on moral principles in commerce this chapter details business ethics codes and corporate governance frameworks. Students study transparency accountability and ethical prac.... AI-generated questions from basic to board-exam level, with instant results and explanations.

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Chapter 18: Business Ethics and Corporate Governance — Important Questions & Answers (FAQ)

Frequently asked questions from Tamil Nadu State Board CLASS 11th COMMERCE — Chapter 18: Business Ethics and Corporate Governance, with answers and explanations. These are sample questions; the exam has its own separate question set.

What does the term 'Business Ethics' primarily refer to?

A. Maximizing profit at any cost
B. Moral principles governing business conduct ✓
C. Government regulations on trade
D. The process of bookkeeping

Answer: B. Moral principles governing business conduct
Business ethics refers to the study of moral principles and standards that guide the behavior of individuals and firms in the business world.

Which of the following is a fundamental principle of business ethics?

A. Monopoly power
B. Integrity and honesty ✓
C. Price discrimination
D. Insider trading

Answer: B. Integrity and honesty
Integrity and honesty are core ethical pillars required for building trust and maintaining fair business practices.

Which of these is considered a 'Social Responsibility' of a business?

A. Only paying taxes to the government
B. Adopting fair trade practices and protecting the environment ✓
C. Engaging in aggressive advertising to mislead consumers
D. Ignoring consumer complaints to save costs

Answer: B. Adopting fair trade practices and protecting the environment
Social responsibility involves a business acting in the interest of the wider society, including ecological protection and fair trade.

Compare business ethics and legal compliance; which statement is true?

A. Legal compliance covers all ethical situations
B. Ethics often goes beyond what is strictly required by law ✓
C. Laws are the only guide for ethical behavior
D. Ethics is mandatory while laws are voluntary

Answer: B. Ethics often goes beyond what is strictly required by law
Laws set the minimum standard for behavior, whereas ethics often requires a higher level of moral conduct beyond legal requirements.

Which statement best defines the role of 'Code of Ethics' in an organization?

A. It is a legally binding document that guarantees profit
B. It is a set of principles that guides employees on acceptable conduct ✓
C. It is a manual for operating machinery
D. It is a list of competitor weaknesses

Answer: B. It is a set of principles that guides employees on acceptable conduct
A Code of Ethics serves as a roadmap for employees to understand the moral expectations and standard of behavior within the workplace.

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Chapter 17: Social responsibility of business

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Chapter 19: Sources of Business Finance