Electronic Data Interchange (EDI) Is a Standard Format for Exchanging

question 21

True/False

Electronic data interchange (EDI) is a standard format for exchanging business data.

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Definitions:

Joint Venture

An arrangement in which a domestic firm partners with a foreign company to create a new entity, thus allowing the domestic firm to enter the foreign company’s market.

Exporting

Selling domestically produced products to foreign markets.

Foreign Company

A business entity that is registered, operates, or is based in a country other than the one where it conducts most of its operations or sales.

Exporting

The act of sending goods or services to another country for sale.