7. Ethical corporate behavior and the Sarbanes-Oxley Act Aa Aa Most executives b

Question

7. Ethical corporate behavior and the Sarbanes-Oxley Act Aa Aa Most executives believe that they and their firms behave in an ethical manner and that it is in their best interests to do so. How can a firm's ethical conduct increase its long-term profitability? Good ethics programs are developed from the bottom of the organization up to the firm's leadership. This is because lower-level workers do all the actual work and are in the best position to specify the rules of how the work should be conducted O Ethical corporate behavior attracts customers, employees, and communities who appreciate and support being treated ethically. Ethics deals with questions of right or wrong behavior. Which of the following behaviors involves ethical-as opposed to unethical-decision making? While considering the purchase of an expensive piece of equipment, a firm's purchasing manager recommends that the purchase be made from his cousin's firm rather than from one of two other vendors offering the identical equipment at lower prices 0 while interviewing prospective applicants for a manager-trainee position, the company's recruiter makes sexually suggestive remarks to the applicants and recommends hiring only the good-looking candidates. 0 while planning for an upcoming company audit, a manager insists on hiring an external auditing firm to audit the company's financial statements. While riding in a taxi, a loan officer with the Fifth County Bank finds a briefcase containing the confidential and proprietary lending policies of a competing bank. Instead of returning the briefcase, she keeps the competing bank's information and distributes it at the next loan application review meeting competing bank In 2002, in response to an outbreak of corporate scandals and unethical financial and accounting behavior, Congress passed the Sarbanes-Oxley Act. Which of the following is a major provision of this legislation? O A publicly traded corporation must have a board of directors that includes outside directors to oversee the firm's annual audit Publicly traded corporations with sales of at least $50 million or total assets of at least $100 million are exempt from possible prosecution for the preparation of fraudulent financial statements.

Explanation / Answer

7)
a)option A
b)option C
c)Option A
All these are conceptual questions and answers are straight forward

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