There is a provision in the Companies Act, 2013 regarding related party transactions to ensure ethical standards in managerial decisions. From the following options identify who is not a related party as per the Companies Act, 2013.
| A. |
A person on whose advice, directions or instructions (except given in professional capacity) a director or manager is accustomed to act.
|
| B. |
A private company in which a director or ma nager is a director or holds along with his relatives less than 2% of its paid up share capital.
|
| C. | A firm in which a director, manager or his relative is a partner. |
| D. |
A holding/subsidiary or associate company, subsidiary's subsidiary and such person as would be prescribed.
|
|
Option: B Explanation : Click on Discuss to view users comments. |
Ethics deals with ideals, it is regarded as a normative science. Choose anyone from the following options which is not a part of ethics as a normative science.
| A. | It tells what a human conduct ought to be. |
| B. | It determines norms, ideals, standards or va lues. |
| C. |
It passes judgements of value stating whether a particular conduct is in conformity with the moral ideal or the ideal of goodness.
|
| D. |
It passes judgements regarding fac ts and events as they are and state the laws governing them.
|
|
Option: D Explanation : Click on Discuss to view users comments. |
Value formulation is a combination of several factors indicated below. Which one of them is the appropriate option?
| A. | Biological source, medical source, legal mandate, organisational mission and vision |
| B. | Legal source, moral source, spiritual source, philanthropic source |
| C. | Organisational culture, command from higher authorities, judicial pronouncements |
| D. |
Genetic source, envirorunental source (culture, education, religious faith), influence of superiors, multimedia source
|
|
Option: D Explanation : Click on Discuss to view users comments. |
In the sphere of ethics in decision making, for determining morally correct action, there are specific stages providing rationale for moral action. Choose anyone appropriate option from the following.
| A. |
Actions that avoid punishment, actions that serve one's needs, actions that gain approval from others, actions that abide laws and authority, social contracts and actions supported by univerSilI principles.
|
| B. |
Actions that impose punishment, actions that are not followed by feedback response, actions beyond moral approbation, approved by judicial pronouncement, supported by universal principles.
|
| C. |
Actions that are morally right, legally enforceable, is used on external believes that events are controlled by destiny, fate or luck, not supported by social contracts, supported by universal principles.
|
| D. |
Actions that are morally wrong but supported by hierarchy and organisational goal of profit maximisation, individual judgement about ethicality of the decision is ignored.
|
|
Option: A Explanation : Click on Discuss to view users comments. |
Assertion (A): According to David Fritzsche, business ethics is the process of evaluating decisions, either pre or post, with respect to the moral standards of society's culture.
Reason (R) : Managers need not evaluate the moral dimensions of a decision before making it, because they are to carry out the order of the higher authority to maximise commercial gain for the entity.
| A. | Both (A) and (R) are correct. |
| B. | (A) is correct and (R) is the righ t explana tion of (A). |
| C. | (A) is correct but (R) is not the right explanation of (A). |
| D. | Both (A) and (R) are incorrect. |
|
Option: C Explanation : Click on Discuss to view users comments. |
