Sacred Heart Academy

Loon, Bohol
SY 2020-2021
Member: Catholic Educational Association of the Philippines (CEAP)
and Bohol Association of Catholic Schools (BACS-Tagbilaran)
email add: sacredheartacademyloon@yahoo.com
tel #: (038) 505-8087
1st Summative Examination
Academic Track – Accounting, Business and Management (ABM)
NAME: __________________________________________________Grade and Section: __________________________________
Subject: Business Ethics and Social Responsibility Date: _____________________________ Score: _______________
I. Multiple choices. Read and analyze the statements carefully and encircle the letter of the correct answer.
1. Which of the statement below best describes the disadvantages of sole proprietorship?
a. Net income is not taxed as a separate entity c. Total undivided authority
b. Limited by management’s ability to be jack-of-all-trades d. Ability to obtain capital
2. ___________ is the act, for employee or former employee of disclosing what he believes to be unethical or illegal behavior to
higher management
a. Duty and Rights b. Whistle Blowing c. Job Complain d. Code of Ethics
3. ___________ is an entity in which economic resources or inputs are put together and processed to provide goods or services
to customers.
a. Organization b. Social Responsibility c. Businesses d. Business Ethics
4. Ethics are the standards of conduct by which one’s actions are judged as ________________.
a. Right or wrong b. Honest or Dishonest c. Fair or Unfair d. All of these
5. A small neighborhood barber shop that is operated by its owner would likely be organized as a _____________.
a. Joint venture b. Partnership c. Corporation d. Proprietorship
6. Joan and Sara met at law school and decide to start a small law practice after graduation. They agree to split revenues and
expenses evenly. The most common form of business organization for a business such as this would be a ____________.
a. Joint venture b. Partnership c. Corporation d. Proprietorship
7. Which of the following is not an advantage of the corporate form of business organization?
a. Limited liability of stockholders c. Unlimited personal liability for stockholders
b. Transferability of ownership d. Unlimited Life
8. The partnership form of business organization ______________.
a. Is a separate legal entity c. Enjoys an unlimited life
b. Is a common form of organization for service-type business d. Has limited liability
9. A business organized as corporation
a. Is not a separate entity in most states
b. Requires that stockholders be personally liable for the debts of the business
c. Is owned by its stockholders
d. Terminates when one of its original stockholders dies
10. A proprietorship form of business
a. Must have at least three owners in most states
b. Represents the largest number of businesses in the United States
c. Combines the records of the business with the personal records of the owner
d. Characterized by a legal distinction between the business as an economic unit and the owner
11. ___________ are moral principles that guide the conduct of individuals.
a. Ethics b. Morals c. Character d. Attitude
12. ___________ defined as a “continuing commitment by business to behave ethically and contribute to economic development.
a. Corporate Social Responsibility c. Ethical Attention
b. Ethical Issues d. Business Ethics
13. Which of the following situations below is an example of deceptive ad?
a. What you see is what you get c. Sellers description same with the actual quality
b. Sample pictures are not the actual item d. Items are with the same quality as shown in the tarpaulin
14. ______________ means working in the real solutions in order to eradicate or at least alleviate poverty.
a. Authentic and Sustainable Development c. Resource Depletion
b. Capitalist Business Practices d. Insider Trading
15. Republic Act No. 6727 is also known as
a. Health and Safety and Social Welfare c. Wage Rationalization
b. Labor Relations d. Employment promotion
16. _______________ is to be liable to explain or justify one’s actions and decisions.
a. Responsibility b. Fairness c. Transparency d. Accountability

Vision: An institution of God-fearing, God-loving, and well transformed individuals Prepared by: Haydie C. Tan
Mission: To provide quality education and values formation
Goals: inspired by the school’s vision-mission statement and the Divine Providence, we commit ourselves to:
Subject Teacher
Reviewed by and Approved by:

 become person for others by sharing what we have and what we are;
 have a harmonious relationship among administrators, teachers, parents and students based on Trinitarian Spirituality;
 develop a pro-People, a pro-Nation, a pro-Earth, and a pro-God community NIÑO JAY C. GASTONES, MA-English
Subject and Senior High School Coordinator
 17. This refers to the openness and willingness to give confidence to the stakeholders in every decision making and management
processes of the company or institutions.
a. Responsibility b. Fairness c. Transparency d. Accountability
18. It refers to the quality of making judgments that are free from discrimination.
a. Responsibility b. Fairness c. Transparency d. Accountability
19. This refers to the Book Four of the Labor Code of the Philippines.
a. Health and Safety and Social Welfare c. Wage Rationalization
b. Labor Relations d. Employment promotion
20. ___________ does not issue shares of stock and is established by primarily interests such as a foundation for charitable or
similar purposes.
a. Stock Corporation b. Incorporation c. Incorporated d. Non Stock Corporation

II. Briefly explain the following comparison below.

Rubric 1-5 points 6-10 points
Minimal Idea development, Unelaborated idea
limited and/or unrelated details development; unelaborated
Development of ideas and/or repetitious details to
depth of idea development
supported by elaborated,
relevant details
1. What is the difference between Business Ethics and Corporate Social Responsibility?
10-15 points
Depth and complexity of ideas
supported by rich, engaging
and/or pertinent details;
evidence analysis, reflection
and insight

2. What is the importance of social responsibility and ethics in the business?

“Do the right thing even if no one is watching.”

Vision: An institution of God-fearing, God-loving, and well transformed individuals Prepared by: Haydie C. Tan
Mission: To provide quality education and values formation
Goals: inspired by the school’s vision-mission statement and the Divine Providence, we commit ourselves to:
Subject Teacher
Reviewed by and Approved by:

 become person for others by sharing what we have and what we are;
 have a harmonious relationship among administrators, teachers, parents and students based on Trinitarian Spirituality;
 develop a pro-People, a pro-Nation, a pro-Earth, and a pro-God community NIÑO JAY C. GASTONES, MA-English
Subject and Senior High School Coordinator
 Most Sacred Heart of Jesus, Have mercy on us. Immaculate Heart of Mary, Pray for us. St. Joseph, Pray for us.

Vision: An institution of God-fearing, God-loving, and well transformed individuals Prepared by: Haydie C. Tan
Mission: To provide quality education and values formation
Goals: inspired by the school’s vision-mission statement and the Divine Providence, we commit ourselves to:
Subject Teacher
Reviewed by and Approved by:

 become person for others by sharing what we have and what we are;
 have a harmonious relationship among administrators, teachers, parents and students based on Trinitarian Spirituality;
 develop a pro-People, a pro-Nation, a pro-Earth, and a pro-God community NIÑO JAY C. GASTONES, MA-English
Subject and Senior High School Coordinator