The Foreign Corrupt Practices Act Requires ________

question 22

Multiple Choice

The Foreign Corrupt Practices Act requires ________.

• A)companies to accept bribes from officials in foreign countries
• B)all publicly held companies to follow the act only if they conduct business outside the United States
• C)companies to maintain their accounting records in reasonable detail and accuracy
• D)companies to prepare a separate report on their system of internal control

---

Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others.

Accounting Services

Professional services that include bookkeeping, audit, tax preparation, financial analysis, and consultancy related to financial management.

Offshoring

The practice of moving a part of a company's operations or business processes to another country to reduce costs or take advantage of favorable conditions.

Trade Adjustment Assistance

A federal program that provides aid to workers who lose their jobs or whose hours and wages are reduced as a result of increased imports.