What Does the Foreign Corrupt Practices Act Have to Do

question 24

Multiple Choice

What does the Foreign Corrupt Practices Act have to do with accounting?

• A) It requires that U.S. companies properly record bribes made to obtain business from foreign clients.
• B) It requires that appropriate internal control systems be maintained by publicly traded U.S. companies.
• C) It mandates the use of the temporal method of translating assets obtained illegally in foreign countries.
• D) It demands that publicly traded U.S. companies follow international best-practices when auditing illegal operations abroad.

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Definitions:

LMX Relationship

Stands for Leader-Member Exchange relationship, which describes the dynamic between a leader and their followers, highlighting the importance of bilateral trust, respect, and obligation.

Proactive

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Initiative

The ability to initiate actions independently, often to bring about change or achieve goals.

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