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:

Haj

An Islamic pilgrimage to Mecca that is required once in a lifetime for all Muslims who are physically and financially able to undertake the journey.

Arab Immigration

The process by which individuals from Arab countries move to live permanently in another country.

Palestinians

People originally from the historical Palestine region, who may live in the West Bank, Gaza Strip, Israel, or as part of a global diaspora.

Iraqis

People originating from or associated with Iraq, a country in Western Asia.