PCOA14 Midterm Exam - 123 PDF

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THIS MODULE IS FOR THE EXCLUSIVE USE OF THE UNIVERSITY OF LA SALETTE, INC. ANY FORM OF REPRODUCTION, DISTRIBUTION, UPLOADING, OR POSTING ONLINE IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE UNIVERSITY IS STRICTLY PROHIBITED.1Univeristy of La Salette, Inc. College of Accountancy D...

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Univeristy of La Salette, Inc. College of Accountancy Dubinan East, Santiago City PCOA 014 – Governance, Business Ethics, Risk Management and Internal Control Midterm Examination General Instruction: This examination is good for 3 hours. Upload your answers in LMS using excel format. Multiple Choice: Choose the letter that corresponds your answer. (10 points) 1. Examples of direct misrepresentation about the product include the following except: A. False advertising B. Deceptive packaging C. Mislabeling D. Caveat emptor 2. Examples of indirect misrepresentation about the product include the following except A. caveat emptor B. deliberate withholding adverse information C. business ignorance D. false advertising 3. Examples of direct misrepresentation about the product include the following except A. adulteration B. short merging C. short measurement D. over persuasion 4. Interlocking directorship can be committed by A. rank and file employees B. members of the board of directors C. top executive officers D. Middle-level managers 5. The following constitute unfair labor practices of an employer except A. To restrain employees to form a union B. To violate a collective bargain or agreement C. To discriminate with regard to wages, hours of work D. To terminate employment of employees found to have violated company policy or employment contract. 6. The following are examples of unethical practices of employers except

THIS MODULE IS FOR THE EXCLUSIVE USE OF THE UNIVERSITY OF LA SALETTE, INC. ANY FORM OF REPRODUCTION, DISTRIBUTION, UPLOADING, OR POSTING ONLINE IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE UNIVERSITY IS STRICTLY PROHIBITED.

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A. acceptance of gifts from a customer in exchange for a favor that is detrimental to its interest of his employer B. engagement in the same type of business as his employer C. disclosure of confidential company information to someone else for personal gain D. Application for a loan from his employer to settle personal liabilities. 7. The following are examples of dishonest acts of an employee towards his employer except A. Working overtime upon instruction of his supervisor. B. Bringing home office supplies for personal use. C. Overstating business trip expenses by submitting false receipts D. Doing personal errands during office hours. 8. Top management's commitment in the "Unified Code of Conduct for Business" included the following, except A. To lead by example in conducting business with integrity. B. To communicate within the company and the general public the company's position against bribery, corruption and unethical business practice. C. To institute training programs or business ethics covering all levels of the organization D. To support strategy integrity practices and efforts and allocate sufficient resources for their implementation. 9. Among the commitments of the "Finance and Accounting Section of an organization is A. To pay taxes in compliance with all laws. B. To have appropriate tools to receive, monitor and act on internal and external complaints of employees. C. To communicate rules and guidelines or giving gifts, entertainment tokens of hospitality and contributes to / from public or private organizations. D. To prohibit contracting a third party to bribe or commit corrupt practices in behalf of the company. 10. In the "Unified Code of Conduct for Business" the logistics department commits to do the following. except A. Not to penalize employees for refusing to pay bribes or facilitation payments even if it results in failure to meet deadlines or revenue is lost. B. Not to tolerate any breaches or violation of existing laws in exchange for undue advantage and unethical concessions a favor. C. To pay correct duties and taxes based on transparent assessment of duties taxes based on transparent assessment of goods and services. D. To protect employees from retaliation when complaints are filed against them.

Essay: Answer the following questions. (40 points) 1. What is the basic purpose of a code of ethics for a profession? (5 points) To bind the members of a group together by expressing their goals and aspirations, as well as define expected standards of behavior. 2. Name and explain the characteristics and values associated with ethical behavior. (15 points)          

Integrity - integrity is regarded as the honesty and truthfulness or accuracy of one's actions Honesty - Honesty is a facet of moral character that connotes positive and virtuous attributes such as integrity Trustworthiness and Promise Keeping - the quality of inspiring trust in someone else Loyalty (Fidelity) and confidentiality Fairness and Openness - Fairness is concerned with actions, processes, and consequences, that are morally right honorable, and equitable Caring for others - is a normative ethical theory that holds that moral action centers on interpersonal relationships and care or benevolence as a virtue Respect for others - Respect is in play when being polite, considerate and mindful of another person. Responsible Citizenship - is the ability to recognize, interpret and act upon multiple principles and values according to the standards within a given field and/or context. Pursuit of Excellence - the quality of doing what is right and avoiding what is wrong. Accountability - an obligation or willingness to accept responsibility for one's actions

3. Explain why ethical behavior is necessary in the practice of one Profession. (10 points) 

Ethics is a fundamental requirement of any profession. It is essential to the success of the business as well. Maintaining good ethics is being consistent with the principles of correct moral conduct constantly.

4. Give and explain briefly at least three ways of directly misrepresenting products. (6 points)   

Short Measuring – An unethical observed in products that depend on length and/or volume. Short Weighing – the most common type of direct misrepresentation Shortchanging – taken directly from a situation where the seller gives the customer less than the change he should get.

5. Distinguish between direct misrepresentation indirect misrepresentation. (4 points) 

Direct misrepresentation is when you willingly and knowingly lied about your information.

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Indirect misrepresentation means that you did not know it was misrepresentation or you were not aware.

6. What are some of the means by which corruption could be reduced if not totally eliminated in the Philippines? (10)  

Strengthening citizens demand for anti-corruption and empowering them to hold government accountable is a sustainable approach that helps to build mutual trust between citizens and government. For example, Post and Monitor the allocated budget for projects in Barangay Hall. Promote transparency and access of information especially in elections. “So do not fear, for I am with you; do not be dismayed, for I am your God. I will strengthen you and help you; I will uphold you with my righteous right hand.” --- Isaiah 41:10 uphold e End of examination...