Certain High-Technology Components May Not Be Exported to Nations on the Export

question 13

True/False

Certain high-technology components may not be exported to nations on the Export Controls List. The export broker for a manufacturer of such components could be held liable for any loss to the manufacturer as a result of incorrectly classifying prohibited components on the export approval applications.

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Definitions:

Sarbanes-Oxley Act

A U.S. federal law enacted in 2002 to protect investors from the possibility of fraudulent accounting activities by corporations, enhancing financial disclosures and corporate governance.

Felony

A serious crime, typically involving violence, regarded as more severe than a misdemeanor and usually punishable by imprisonment for more than one year or by death.

Audits

Systematic examinations, reviews, and verifications of financial and operational records and activities.

Magistrate

A judicial officer with limited authority, often responsible for handling minor criminal offenses and preliminary matters in legal cases.