When a Company Does Business in Another Country Whose Official

question 92

Multiple Choice

When a company does business in another country whose official language is the same as its home country's, the company should most likely ________.

• A)assume that communications will go smoothly
• B)use back-translation on all written documents
• C)realize that words may have different meanings
• D)assume that word meanings are the same despite spelling differences

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Definitions:

Priority

The established order of importance or urgency given to claims, debts, rights, or actions in legal, financial, or other operational contexts.

Floating Lien

A lien on a debtor's assets that changes over time with the inventory levels or changes in collateral included under the lien.

Purchase-Money Security Interest

A legal claim or lien that grants the lender a security interest in the item being purchased, as collateral for the loan.

Right of Redemption

A debtor's legal right to reclaim property that has been foreclosed upon or repossessed by paying off debt, usually within a specific period.