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Question
The implied warranty of merchantability holds that in selling a product, a business implicitly offers assurances that the product is reasonably suitable for its purpose.
Answer
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Related questions
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Which of the following is an internal mechanism that seeks to ensure ethical corporate governance?
a. European Union 8th Directive
b. The Sarbanes-Oxley Act
c. The COSO framework
d. European Union 7th directive
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Explain the concept of eco-efficiency, biomimicry and cradle-to-cradle responsibility.
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Briefly describe the reasons supporting the practice of sustainability within businesses.
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What do defenders of the market approach to environmental responsibilities state about the ability of economic markets to achieve a sound environmental policy? Discuss if their responses are environmentally adequate.
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The role of _____ is to ensure that those who enter into the marketplace are playing by the rules and conforming to the very conditions that ensure the market functions as it is supposed to function.
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Which of the following exemplifies insider trading?
a. Underreporting income
b. Falsifying account documents
c. Misappropriation of proprietary knowledge
d. Illegally evading income taxes
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According to Kevin Bahr, which of the following is a cause for conflicts in the financial markets?
a. The independence and lack of expertise of audit committees
b. The presence of shareholder activism
c. Long-term executive greed versus short-term shareholder wealth
d. Self-regulation of the accounting profession
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Which of the following is true of Federal Sentencing Guidelines for boards?
a. The board must be knowledgeable about the objectives and process of the ethics program rather than simply the mere contents of a training session.
b. The board should avoid exercising reasonable oversight with respect to the effectiveness and implementation of the ethics program.
c. The board should leave the evaluation of all board policies, procedures, governance structure, and position descriptions to the executives.
d. The board need not work with executives to analyze the incentives for ethical behavior.
Q:
Which of the following legal duties of board members suggests that a director does not need to be an expert or actually run the company?
a. Duty of care
b. Duty of good faith
c. Duty of candor
d. Duty of loyalty
Q:
Which of the following is true of the COSO controls and the Sarbanes-Oxley requirements?
a. They result in less transparency in ensuring ethical corporate governance.
b. They encourage greater accountability for financial stewardship.
c. They result in a lesser emphasis to prevent any financial misconduct.
d. They do not impact executives, boards, and internal audits.
Q:
Identify the gatekeepers who evaluate a companys financial prospects or creditworthiness, so that banks and investors can make informed decisions.
a. Investors
b. Attorneys
c. Auditors
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COSO is one of the first efforts to address corporate culture in a quasi-regulatory framework in recognition of its significant impact on the satisfaction of organizational objectives.
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A large boost in share price decreases a firms equity leverage for external expansion.
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Financial analysts rely on gatekeepers but are not gatekeepers themselves.
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Before environmental legislation was enacted, the primary legal avenue open for addressing environmental concerns was _____ law.
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In economic terms, all resources are _____, that is, they can be replaced by substitutes, and in this sense resources are infinite.
Q:
Which of the following is true of a service-based economy?
a. A service-based economy tends to the consumers demand for clothes cleaning, floor covering, illumination, entertainment, and so forth.
b. A service-based economy interprets consumer demand as a demand for washing machines, carpets, lights, consumer electronics, and so forth.
c. A service-based economy weakens the production efficiencies.
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Which of the following is true of the sustainability model in terms of environmental responsibilities?
a. Sustainability reduces competitive advantage.
b. Sustainability is not a prudent long-term strategy.
c. Sustainability is a good risk management strategy.
d. Sustainability leads to reduced cost-savings.
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The model of economy, in consistency with the second law of thermodynamics, implies that:
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b. the economy exists beyond a finite biosphere.
c. wastes are not produced at each stage of economic activity.
d. the amount of usable energy decreases over time.
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a. first
b. second
c. third
d. fourth
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b. three pillars of sustainability.
c. three pronged charter.
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Markets can work to prevent harm only through information supplied by the existence of market failures. This is better known as the:
a. biomimicry effect.
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Rewards and compensation structures have no impact on the emotions of workers.
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How does the social web model view businesses?
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According to the narrow view of economic model of CSR, only philanthropy done for reputational reasons and financial ends is ethically responsible. What is the justification for this statement?
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Discuss the philanthropic model of CSR.
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Philosophers distinguish between three different types of responsibilities, on a scale from more to less demanding or binding. Explain these responsibilities.