A(n) ____ Emphasizes the Norms and Practices of the Parent

question 47

Multiple Choice

A(n) ____ emphasizes the norms and practices of the parent company relying on PCNs.

• A) Polycentric approach
• B) Geocentric approach
• C) Regioncentric approach
• D) Ethnocentric approach

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Definitions:

Trade or Business

Trade or Business is an activity carried on for the purpose of earning profit by providing goods or services, and is characterized by regularity and continuity.

Section 1231 Asset

A tax term referring to depreciable property or real estate used in a trade or business that, if sold, can result in favorable capital gains treatment.

Ordinary Gain

Gain characterized as ordinary income for tax purposes, typically resulting from the sale of assets not considered capital assets.

Sold

The act of transferring ownership of an item or asset for money or value in exchange.