Which of the Following Is Not a Main Provision of the Foreign

question 150

Multiple Choice

Which of the following is not a main provision of the Foreign Corrupt Practices Act of 1977 (FCPA) ?

• A)No U.S.person or companies that have securities listed on U.S.markets may make a payment to a foreign official for the purpose of obtaining or retaining business.
• B)Companies that have securities listed on U.S.markets must make and keep financial records that accurately and fairly reflect the transactions of the company.
• C)Designing and maintaining internal accounting controls is the role of internal auditors when management conducts business in a foreign country.
• D)Certain payments made to an official to expedite the performance of the duties that the official would already be bound to perform are acceptable.

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Definitions:

Tax-Free Amount

The portion of income or a financial distribution that is not subject to taxation by authorities.

Roth IRA

An individual retirement account allowing post-tax contributions with the benefit of tax-free withdrawals under certain conditions.

Withdrawal Requirements

Mandatory rules governing the minimum amounts that must be withdrawn from retirement accounts after reaching a certain age.

Taxable

Describes income or transactions subject to taxation under federal, state, or local laws.