The Primary Purpose of the Foreign Corrupt Practices Act of 1977

question 47

Multiple Choice

The primary purpose of the Foreign Corrupt Practices Act of 1977 was

• A)to require corporations to maintain a good system of internal control.
• B)to prevent the bribery of foreign officials by American companies.
• C)to require the reporting of any material fraud by a business.
• D)All of the above are required by the act.

Estimate cash collections and disbursements to prepare a cash budget.

Compute budgeted production quantities considering inventory policy and sales forecast.

Identify and calculate the costs involved in purchasing and handling raw materials.

Determine direct labor requirements and costs based on production needs.

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Definitions:

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.

Demand

Demand in economics is defined as consumers' willingness and ability to purchase goods or services at a given price over a specific period of time.

Normal Goods

Goods for which demand increases as consumer income rises, and decreases when consumer income falls.

Inferior Goods

Goods for which demand decreases as the income of consumers increases, opposite to normal goods.