Situational ethics was considered very controversial when it was established by Joseph Fletcher because it challenged the idea that ________
A) universal rules exist and can be applied to every situation
B) people make decisions based on a specific situation no matter what the consequences are
C) people make decisions based on a specific situation instead of universal laws
D) most people act in their own self interest when making decisions
E) some people have no sense of right and wrong
A
Explanation: A) Fletcher believed it was more important to apply the Golden Rule, treat others as you would like to be treated, than to apply any complex set of moral rules. The idea that people would make decisions based on specific situations rather than by following universal laws was controversial at the time.
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Exploratory research should NOT be used for which of the following situations that Adidas may face ________
A) to understand purchase and consumption behavior of heavy users of athletic shoes B) to understand the positive impact of celebrity endorsements on its image C) to investigate the reasons why Adidas has a lower market share as compared to Nike in the United States D) to develop a profile of the target market in order to make advertising placement decisions E) to develop hypotheses - Are heavy users of athletic shoes more brand conscious than light users?
Which of the following events would be considered an extraordinary item?
a. An airline experienced a significant loss due to a strike by employees of the company who provide its aircraft maintenance. b. A food cannery was faced with a large loss of inventory of canned soups due to government condemnation because of possible botulism contamination; the company had never experienced a similar situation in its history. c. A company, located on an island which has experienced severe flooding three times in the past 25 years, was subjected to a heavy loss of physical plant due to flooding. d. A medical corporation was required to pay damages equal to three times its average net income to a patient. The corporation had experienced suits of this nature in the past, but the amount of the losses had never exceeded 5 percent of the corporation's average net income.
The lower-of-cost-or-market basis for inventory valuation
a. is a conservative accounting policy. b. recognizes losses from decreases in market value before a sale occurs. c. recognizes gains from increases in market value above original acquisition cost only when a sale occurs. d. reports inventories on the balance sheet at amounts that are never greater, but may be less, than acquisition cost. e. all of the above
In ________, the neutral third party makes no final decision
A) mediation B) arbitration C) private trials D) summary jury trials