I. A. Directions: Analyze each sentence below and write whether it is True or False. Write the answers on a separate sheet of paper.

1. A corporation is a separate entity distinct from all the owners.

2. Tax preparation is more difficult in sole proprietorship.

3. Business is a passive process.

4. A partnership may generate funds through selling shares of stocks.

5. The liability of a shareholder is only limited to the amount of his/her investment.

B. Directions: Match the terms in Column A to its corresponding definition in Column B. Write the letters of your answers on a separate sheet of paper.

A B

6. Corporation A. It is a business owned by one person only.

7. Sole proprietorship B. It is the amount received minus the amount spent.

8. Business C. It is an independent entity distinct from its owners.

9. Partnership D. It involves important operations like advertising, marketing, etc.

10. Profit E. It is a business venture by two or more people.

II. A. Write the letter of the correct answer.

It is the explication and justification process.

A. accountability B. fairness C. transparency D. efficiency

12. It is giving to a person what is due to him/her.

A. accountability B. fairness C. transparency D. efficiency

13. This act should be done accurately to the company's investors.

A. hiring B. reporting C. organizing D. auditing

14. This approach makes a person more honest and sincere.

A. accountability B. fairness C. transparency D. efficiency

15. This means that the standard of judging is free from bias.

A. accountability B. fairness C. transparency D. efficiency

B.Identify whether the statement is True or False.

16. When a manager is not bias, he/she is fair.

17. Ted showed transparency when he reimbursed his expenses without showing official receipts.

18. An employee is accountable to pay whatever company property he/she has damaged or lost.

19. Fairness is shown when one listens to the two sides of a story.

20. Accountability is shown when one admits his/her mistake and is responsible for it.

C. Read each sentence below and write the words thumbs up if it is true or thumbs down if it is not. Write the answers on a separate sheet of paper.

21. The company's Board of Trustees should show perseverance.

22. It does not matter whether the decision is fair to all or not.

23. Social surveys should be carried out by the company.

24. The company may not fully review the offenses reported.

25. Each member of the organization should be fully aware of the company's principles.

26. The owner's decision should be based on truth.

27. Do not mind immoral activities in the company.

28. The management should protect the whistleblowers.

29. The decision should build goodwill of the organization.

30. Ethics are social principles that guide the conduct of the individuals.

A.Identify whose philosophy is described in each number. Choose your answers below. Write the letter of your answers.

a. Aristotle b. Plato c. Socrates

d. Immanuel Kant e. Jeremy Bentham and John Stuart Mill

____31. Motives and the willingness of individuals to act for the good of others, even though that action might result to personal loss.

____32. The role of the leader is to create environment in which all members of an organization can realize their own potential.

____33. Happiness or well-being is the highest aim of moral thought and conduct.

____34. Utilitarianism is a moral theory that advocates actions that promote overall happiness or pleasure and rejects actions that cause unhappiness or harm.

____35. We have the right to think of ourselves.

B. Match the terms in Column A to their corresponding description in Column B. Write the letter of your answer on a separate sheet of paper.

A B

36. Islam a. It follows the Old and the New Testaments.

37. Christianity b. It was founded on the teachings of Buddha.

38. Hinduism c. Its written law relies on Torah.

39. Judaism d. They believe in Brahman.

40. Buddhism e. Its source of rules is the Qur'an.

Match the terms in Column A to their corresponding definition/description in Column B. Write the letter of your answers on a separate sheet of paper.

A B

41. Delicadeza a. One gets support through family affiliation, friendship, etc.

42. Bayanihan b. Always remember the goods acts that others did.

43. Maana habit c. Sense of social propriety

44. Frugality d. Shared understanding of the other person's personality

45. Nigas cogon e. Spirit of unity within a group

46. Utang na loob f. Economical management of resources

47. Padrino system g. Sensitivity to personal insult

48. Pakikisama h. Eager at the beginning then losing interest

49. Amor Propio i. Absolute obedience to what is right, legal, or ethical

50.Hiya j. Putting off something until another time