MASTERY TEST Direction: Write Business it the statement is Correct 8. Ethics it the statement is Incorrect. 1. An entrepreneur is one who organizes, manages and assumes the risk of an enterprise. 2. Business ethics are centrally concentrated with the business conduct. 3. Consumer complaints must be promptly answered. 4. The customers should not be cheated by charging high prices. 5. Dealing properly with suppliers means communicating with them facts and making them part of the planning processes. 6. The entrepreneurs should give the assurance of lowest prices to the suppliers so that the certainty of the price will be sustained. 7. The business community is confronted with a great deal of challenges and opportunities. 8. Corporate Social Response (CSR) means rm's obligation to protect and improve welfare of the society and its organization. now as well as in future, through its various business and social actions, and ensures that it generates equitable and sustainable benets for the various stakeholders. 9. Milton Friedman argued vehemently against spending shareholders money for anything that does not directly contribute to increasing shareholder wealth. 10. Business plan is a sequence of steps that must be taken, or activities that must be performed well, for a strategy to succeed. MASTERY TEST Direction: Write Business it the statement is Correct 8. Ethics if the statement is Incorrect. 1. An entrepreneur is one who organizes, manages and assumes the risk of an enterprise. 2. Business ethics are centrally concentrated with the business conduct. 3. Consumer complaints must be promptly answered. 4. The customers should not be cheated by charging high prices. 5. Dealing properly with suppliers means communicating with them facts and making them part of the planning processes. 6. The entrepreneurs should give the assurance of lowest prices to the suppliers that the certainty of the price will be sustained. 7. The business community is confronted with a great deal of challenges and opportunities. 8. Corporate Social Response (CSR) means rm's obligation to protect and improve welfare of the society and its organization, now as well as in future, through its various business and social actions, and ensures that it generates equitable and sustainable benets for the various stakeholders. 9. Milton Friedman argued vehemently against spending shareholder's money for anything that does not directly contribute to increasing shareholder wealth. 10. Business plan is a sequence of steps that must be taken, or activities that must be performed well, for a strategy to succeed