Business Norms Vary from Country to Country

question 37

True/False

Business norms vary from country to country. A company will likely be more successful in expanding internationally if it understands cultural traditions, preferences, and behaviors in the target countries.

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Definitions:

UCC

Stands for the Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.

Transfer

The act of moving or passing from one person, place, or situation to another, often referring to the ownership or title of property or assets.

Checks

Financial instruments that order a bank to pay a specific amount of money from the writer’s account to the person or entity in whose name the check has been issued.

Depositary Bank

The first bank that receives a check for payment.