MULTIPLE-CHOICE QUESTIONS- INTEGRITY AND FAIRNESS- REMUNERATION AND COSTS- OCCUPATION, EMPLOYABILITY AND RESTRICTIONS- BUSINESS ETHICS
What is the primary role of integrity in a professional setting?
a) Maximizing profit
b) Maintaining consistency in actions and values
c) Following orders blindly
d) Ignoring conflicts of interest
Answer: b) Maintaining consistency in actions and values
Which of the following best describes fairness in business?
a) Favoring certain individuals
b) Treating all stakeholders equally
c) Maximizing returns for shareholders
d) Negotiating with only the powerful
Answer: b) Treating all stakeholders equally
Integrity in business is often associated with which of the following?
a) Short-term profits
b) Transparent dealings
c) Exploiting loopholes
d) Ignoring ethical dilemmas
Answer: b) Transparent dealings
Which is a key component of fairness in the workplace?
a) Nepotism
b) Equal opportunity for all employees
c) Unfair dismissals
d) Discrimination based on gender
Answer: b) Equal opportunity for all employees
What is the consequence of lacking integrity in a business?
a) Long-term success
b) Increased customer trust
c) Damage to reputation
d) Enhanced employee morale
Answer: c) Damage to reputation
Which of the following is a statutory requirement for employee remuneration in India?
a) Bonuses
b) Minimum wage
c) Profit sharing
d) Stock options
Answer: b) Minimum wage
The concept of ‘equal pay for equal work’ ensures what?
a) Different wages for men and women
b) Same pay for the same type of work regardless of gender
c) Bonus incentives for top performers
d) Reduction in wages during economic downturns
Answer: b) Same pay for the same type of work regardless of gender
What is included in the Cost to Company (CTC) for an employee?
a) Basic salary only
b) Basic salary plus benefits
c) Bonuses only
d) Overtime payments only
Answer: b) Basic salary plus benefits
Which Act governs the payment of wages in India?
a) Payment of Wages Act, 1936
b) Minimum Wages Act, 1948
c) Industrial Disputes Act, 1947
d) Factories Act, 1948
Answer: a) Payment of Wages Act, 1936
Gratuity is payable to an employee after how many years of service in India?
a) 2 years
b) 3 years
c) 5 years
d) 10 years
Answer: c) 5 years
Occupation
Which of the following is considered an occupation?
a) Attending college
b) Volunteering
c) Teaching in a school
d) Watching television
Answer: c) Teaching in a school
Which sector employs the largest number of people in India?
a) IT Sector
b) Agriculture
c) Real Estate
d) Manufacturing
Answer: b) Agriculture
In the context of occupation, what does ‘blue-collar’ refer to?
a) Office workers
b) Manual laborers
c) IT professionals
d) Freelancers
Answer: b) Manual laborers
Which occupation is regulated by the Bar Council of India?
a) Medicine
b) Engineering
c) Law
d) Chartered Accountancy
Answer: c) Law
The term ‘gig economy’ is associated with which of the following?
a) Long-term employment
b) Short-term contracts or freelance work
c) Government jobs
d) Full-time permanent positions
Answer: b) Short-term contracts or freelance work
What is the purpose of the Employment Exchanges Act, 1959?
a) Regulating foreign employment
b) Compulsory notification of vacancies
c) Restricting employment to locals
d) Increasing employment in private sector
Answer: b) Compulsory notification of vacancies
Which of the following restricts employment of children in India?
a) Child Labour (Prohibition and Regulation) Act, 1986
b) Factories Act, 1948
c) Shops and Establishments Act
d) Industrial Employment Act, 1946
Answer: a) Child Labour (Prohibition and Regulation) Act, 1986
Employability in India is most influenced by which of the following?
a) Educational qualifications
b) Age
c) Caste
d) Gender
Answer: a) Educational qualifications
Which of the following sectors in India often requires specific licensing for employability?
a) Information Technology
b) Legal Profession
c) Agriculture
d) Retail
Answer: b) Legal Profession
Which of the following restricts employment of women in certain hazardous occupations?
a) Mines Act, 1952
b) Companies Act, 2013
c) Shops and Establishments Act
d) Income Tax Act, 1961
Answer: a) Mines Act, 1952
What is the primary objective of business ethics?
a) Maximizing profits
b) Minimizing costs
c) Ensuring fair and moral practices
d) Reducing competition
Answer: c) Ensuring fair and moral practices
Which principle is most important in business ethics?
a) Secrecy
b) Transparency
c) Nepotism
d) Deception
Answer: b) Transparency
In India, which act governs corporate governance to ensure ethical practices?
a) Companies Act, 2013
b) Consumer Protection Act, 1986
c) Indian Contract Act, 1872
d) Income Tax Act, 1961
Answer: a) Companies Act, 2013
Which of the following is an example of unethical business practice?
a) Honoring contracts
b) Misleading advertising
c) Transparent accounting
d) Fair trade practices
Answer: b) Misleading advertising
Which Indian regulatory body focuses on enforcing business ethics in the securities market?
a) Reserve Bank of India (RBI)
b) Securities and Exchange Board of India (SEBI)
c) Ministry of Finance
d) Ministry of Corporate Affairs
Answer: b) Securities and Exchange Board of India (SEBI)
Ethical business practices help in building which of the following?
a) Short-term gains
b) Long-term relationships with stakeholders
c) Market monopolies
d) Competitive disadvantages
Answer: b) Long-term relationships with stakeholders
Corporate Social Responsibility (CSR) is associated with which of the following?
a) Profit maximization
b) Ethical obligations of a business towards society
c) Reducing production costs
d) Legal compliance only
Answer: b) Ethical obligations of a business towards society
Whistleblowing in a company is related to which of the following?
a) Reporting unethical practices
b) Maximizing profits
c) Hiding financial losses
d) Avoiding taxes
Answer: a) Reporting unethical practices
Which of the following is a common ethical issue in the workplace?
a) Job promotions
b) Conflicts of interest
c) Salary increments
d) Paid leaves
Answer: b) Conflicts of interest
Which of the following is considered a breach of business ethics?
a) Fair competition
b) Insider trading
c) Employee development
d) Customer satisfaction
Answer: b) Insider trading
What is the role of ethics in financial reporting?
a) To inflate profits
b) To ensure accuracy and transparency
c) To hide losses
d) To mislead stakeholders
Answer: b) To ensure accuracy and transparency
In India, which authority is responsible for investigating corporate fraud?
a) Reserve Bank of India (RBI)
b) Central Bureau of Investigation (CBI)
c) Serious Fraud Investigation Office (SFIO)
d) Securities and Exchange Board of India (SEBI)
Answer: c) Serious Fraud Investigation Office (SFIO)
Which of the following best describes a conflict of interest?
a) Loyalty to the employer
b) Competing interests that affect decision-making
c) Commitment to stakeholders
d) Fairness in transactions
Answer: b) Competing interests that affect decision-making
Which of the following is an ethical practice in business negotiations?
a) Deception
b) Transparency
c) Misrepresentation
d) Coercion
Answer: b) Transparency
Which of the following promotes ethical behavior in a company?
a) Code of conduct
b) Profit maximization
c) Aggressive marketing
d) Tax evasion
Answer: a) Code of conduct
Business ethics primarily focuses on which of the following?
a) Legal obligations only
b) Moral principles and values
c) Profit margins
d) Cost reduction
Answer: b) Moral principles and values
Which law in India ensures the protection of consumer rights, promoting ethical business practices?
a) Consumer Protection Act, 2019
b) Companies Act, 2013
c) Contract Act, 1872
d) Competition Act, 2002
Answer: a) Consumer Protection Act, 2019
What does ethical sourcing refer to in a business context?
a) Procuring goods from the cheapest sources
b) Ensuring suppliers adhere to ethical standards
c) Sourcing from monopolistic suppliers
d) Ignoring the working conditions of suppliers
Answer: b) Ensuring suppliers adhere to ethical standards
Which of the following is a key factor in promoting business ethics?
a) Competitive pressure
b) Organizational culture
c) Tax benefits
d) Market share
Answer: b) Organizational culture
The ethical treatment of employees includes which of the following?
a) Fair wages and safe working conditions
b) Exploitation of labor
c) Discriminatory practices
d) Wage suppression
Answer: a) Fair wages and safe working conditions
In India, ethical recruitment practices include which of the following?
a) Bribery for job placements
b) Equal opportunity for all candidates
c) Discrimination based on caste
d) Nepotism
Answer: b) Equal opportunity for all candidates
What is the role of ethics in marketing?
a) To exaggerate product benefits
b) To build trust with consumers
c) To mislead customers
d) To increase sales by any means necessary
Answer: b) To build trust with consumers
Which of the following is considered an unethical practice in corporate governance?
a) Transparency in financial reporting
b) Insider trading
c) Ethical leadership
d) Fair treatment of stakeholders
Answer: b) Insider trading
Which of the following is an essential quality of an ethical leader?
a) Charisma
b) Integrity
c) Wealth
d) Popularity
Answer: b) Integrity
What is the impact of ethical business practices on customer loyalty?
a) Decreases customer loyalty
b) Has no impact
c) Increases customer loyalty
d) Leads to customer dissatisfaction
Answer: c) Increases customer loyalty
Which of the following is an example of corporate social responsibility (CSR) in India?
a) Tax evasion
b) Environmental conservation efforts
c) Discriminatory hiring practices
d) Profit maximization at all costs
Answer: b) Environmental conservation efforts
Which of the following is a characteristic of ethical business conduct?
a) Secrecy
b) Fair dealing
c) Deception
d) Exploitation
Answer: b) Fair dealing
Ethical business practices help in achieving which of the following?
a) Short-term profits
b) Long-term sustainability
c) Market monopolies
d) Competitive disadvantages
Answer: b) Long-term sustainability
In a business context, what does the term ‘ethical dilemma’ refer to?
a) A situation with a clear right and wrong choice
b) A conflict between two moral imperatives
c) A straightforward business decision
d) A choice that always leads to profit
Answer: b) A conflict between two moral imperatives
Which of the following bodies in India ensures that companies follow ethical practices in competition?
a) Reserve Bank of India (RBI)
b) Competition Commission of India (CCI)
c) Ministry of Corporate Affairs
d) Securities and Exchange Board of India (SEBI)
Answer: b) Competition Commission of India (CCI)
