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CMA Foundation Exam: Fundamentals of Ethics Practice Test
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The CMA Foundation Exam Fundamentals of Ethics syllabus includes: Ethics and Business, The "Seven Principles of Public Life, The relationship between ethics and law, and Ethics in business. 

The syllabus also includes:
Indian Contract Act
Sale of Goods Act
Indian Partnership Act
Negotiable Instruments Act
The Factories Act
Payment of Wages Act
Minimum Wages Act
Employees' State Insurance Act, 1948

Related test: CMA Foundation Exam: Fundamentals of Laws Practice Test

CMA Foundation Exam: Fundamentals of Ethics Practice Test
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25 Questions

1. ‘There are two fools in every market: one asks too little, one asks too m uch,’ is a French proverb.
2. Ethics has evolved with evolution of society.
3. Selflessness is not one of the seven principles of public life.
4. The laws of a country are not based on the customs or moral codes of its society.
5. ‘It is difficult but not impossible to conduct strictly honest business. What is true is that honesty is incompatible with amassing of large fortune’ said by Adam Smith.
6. The only value business is concerned with is the monetary value.
7. Business Ethics has no universal application.
8. Business Ethics can be said to begin where law ends.
9. An expert who is confidentially available to solve the ethical dilemmas is known as ______________.
10. Law is Codification of ethics.
11. ‘It is difficult but not impossible to conduct strictly honest business’ is famous quote by:
12. Which of the following does not contribute to the development of a business enterprise’s standard of ethics?
13. The crucial step in understanding business ethics is
14. If something is seriously wrong, the law will prohibit it. It means, it’s enough to rely on the law for deciding what’s right or wrong— ethics has no role to play there.
15. Not all unethical practices are illegal.
16. Morality means:
17. Ethical executives abide by _______________ relating to their business activities.
18. Ethical and unethical behaviours are determined by
19. Business ethics are not gaining importance, because of growth of consumer movement.
20. Following is not a professional characteristic:
21. A Monopoly is not harmful to the customer.
22. Law is ___________________ of ethics.
23. Business ethics is not a pure science but a professional practice, and society expects businessmen to abide by the principles of a civil society.
24. Feature that is NOT present in business ethics are—
25. Reasons why a “ good understanding of business ethics” is i mportant, can be st ated as follows:

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