This business/management problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Section A: Objective Questions 15. The act of allowing business records and accounts to be open and clear for inspection is called (b) transparency. 16. Ensuring that weighing scales, measures, and records are correct is called (c) accuracy. 17. (a) Greed is the desire to get more money and profit by cheating customers. 18. (b) Ignorance (lack of proper training and moral upbringing) can make a person dishonest. 19. All are the attributes of honesty in business except one: (c) greed. 20. All are the causes of dishonesty in business except one: (d) peace of mind. 21. One of the rewards and consequences of honesty in a business is (a) good reputation. 22. (b) Business is an activity that involves the production, distribution, and exchange of goods and services for profit and satisfaction of human needs. 23. (b) Fair play in business means being honest, just, and fair in dealing with customers, employees, suppliers, and society. 24. (c) Ethics in business are the rules, principles, or moral standards that guide behavior and decision-making in business. 25. (d) Chemicals are any substances that are used in or produced by a process involving change in matter. 26. (a) Entrepreneur is the person who takes the initiative to start and run the business. 27. (b) Self-employed is the act of working for oneself rather than being employed by another person or organization. 28. Entrepreneurship contributes to national income and economic development through (c) economic growth. 29. Entrepreneur make profits which improve their standard of living and increase the nations (d) wealth creation.