Foreign Corrupt Practices Act (FCPA)was Enacted Because Congress Was Concerned

question 59

Multiple Choice

Foreign Corrupt Practices Act (FCPA) was enacted because congress was concerned about

• A) U.S.corporations' use of illegal payments and bribes in international business dealings.
• B) so that website operators obtain verifiable consent from parents before collecting personal information about children under age thirteen.
• C) to set a standard for the suite of educational apps.
• D) None of these.

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Definitions:

Book Income

The income of a business as reported in its financial statements, using the accounting methods and standards specified by the relevant authority.

Deferred Tax Liability

A tax obligation that a company owes but is not required to pay until a future date.

Warranty Expense

Costs that a company incurs to repair, replace, or compensate for faulty products during the warranty period.

Book Income

The income of a business as reported in its financial statements, following the principles of accounting.