Question 1

“the ability to obtain a thing of 
value in exchange for a promise to pay 
with money or something equally 
satisfactory to the seller at some future 
time.”

Accepted Answer

Credit

Question 2

somebody who avails of the credit

Accepted Answer

Debtor

Question 3

the other party in the credit transaction 
who makes credit available for the debtor

Accepted Answer

Creditor

Question 4

credit enables 
individuals to expand their 
purchasing power or buying 
power

Accepted Answer

As a power

Question 5

the debtor is 
legally and morally bound to 
honor his promise to make 
payments for the use of his credit 
privileges

Accepted Answer

As an obligation

Question 6

Refer to what an enterprise owns, such as cash, inventories 
(produced items), supplies, equipment and buildings

Accepted Answer

Assets

Question 7

Those which an enterprise owes to various individuals and entities

Accepted Answer

Liabilities

Question 8

Represents the claims of the owner(s) against the business 
enterprise.

Accepted Answer

Owner’s 
equity

Question 9

A company should be a good neighbor within its host 
community

Accepted Answer

CORPORATE 
CITIZENSHIP

Question 10

concept whereby companies integrate social and environmental 
concerns in their business operations and in their interaction with their 
stakeholders on a voluntary basis

Accepted Answer

Corporate social responsibility (CSR)

Question 11

Concerned with the effects of actions taken in the present for the 
future

Accepted Answer

Sustainability

Question 12

Concerned with an organization recognizing that its actions affect the external environment, and therefore assumes responsibility for the effects of its actions

Accepted Answer

Accountability

Question 13

The external impact of the actions taken by the organization can 
be ascertained from that organization’s reporting and pertinent facts are not disguised

Accepted Answer

Transparency

Question 14

The primary objective of business is to 
earn reasonable profit, as offer quality 
goods and services, and to provide 
employment

Accepted Answer

Economic Model

Question 15

Businessmen have their responsibility 
to stockholders, as well as to their 
employees, customers, suppliers, and 
the general public.

Accepted Answer

Socioeconomic Model

Question 16

An enterprise is socially responsible if 
it stresses to use, as efficiently as 
possible, the resources at its disposal, 
in producing the goods and the 
services that society needs, at a price 
consumers are willing to pay

Accepted Answer

Classical Model

Question 17

Minimize pollution: land, air 
and water

Accepted Answer

Community

Question 18

• The right to safety 
• The right to be informed
• The right to choose
• The right to be heard

Accepted Answer

Consumers

Question 19

the principles and standards that determine acceptable conduct in  organization

Accepted Answer

Ethics

Question 20

Honest, respectful, and fair conduct by a business and its 
representatives in all of its relations (

Accepted Answer

BUSINESS ETHICS

Question 21

was one of the first companies to 
pledge their advertising budget for the year in 
support of relief operations for those affected by 
the quarantine and frontliners.

Accepted Answer

Ligo Sardines

Question 22

Founded by three doctors who have seen hundreds 
of consistently sick children from underprivileged 
families in underserved communities all over the 
country

Accepted Answer

SQUEAKY CLEAN KIDS

Question	Answer
“the ability to obtain a thing of value in exchange for a promise to pay with money or something equally satisfactory to the seller at some future time.”	Credit
somebody who avails of the credit	Debtor
the other party in the credit transaction who makes credit available for the debtor	Creditor
credit enables individuals to expand their purchasing power or buying power	As a power
the debtor is legally and morally bound to honor his promise to make payments for the use of his credit privileges	As an obligation
Refer to what an enterprise owns, such as cash, inventories (produced items), supplies, equipment and buildings	Assets
Those which an enterprise owes to various individuals and entities	Liabilities
Represents the claims of the owner(s) against the business enterprise.	Owner’s equity
A company should be a good neighbor within its host community	CORPORATE CITIZENSHIP
concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis	Corporate social responsibility (CSR)
Concerned with the effects of actions taken in the present for the future	Sustainability
Concerned with an organization recognizing that its actions affect the external environment, and therefore assumes responsibility for the effects of its actions	Accountability
The external impact of the actions taken by the organization can be ascertained from that organization’s reporting and pertinent facts are not disguised	Transparency
The primary objective of business is to earn reasonable profit, as offer quality goods and services, and to provide employment	Economic Model
Businessmen have their responsibility to stockholders, as well as to their employees, customers, suppliers, and the general public.	Socioeconomic Model
An enterprise is socially responsible if it stresses to use, as efficiently as possible, the resources at its disposal, in producing the goods and the services that society needs, at a price consumers are willing to pay	Classical Model
Minimize pollution: land, air and water	Community
• The right to safety • The right to be informed • The right to choose • The right to be heard	Consumers
the principles and standards that determine acceptable conduct in organization	Ethics
Honest, respectful, and fair conduct by a business and its representatives in all of its relations (	BUSINESS ETHICS
was one of the first companies to pledge their advertising budget for the year in support of relief operations for those affected by the quarantine and frontliners.	Ligo Sardines
Founded by three doctors who have seen hundreds of consistently sick children from underprivileged families in underserved communities all over the country	SQUEAKY CLEAN KIDS

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