Listed below are nine global business terms introduced in this chapter:
Each of the following statements may (or may not) describe one of these terms. In the space provided below each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.
a. The strategy of creating offsetting positions so that losses from currency fluctuations will be offset by gains resulting from the same fluctuations.______________________________
b. Selling a good or service to a foreign customer.______________________________
c. Government allocates resources and determines output through central planning.______________________________
d. The organization responsible for developing uniform worldwide accounting standards.______________________________
e. Distinguishes between illegal influence peddling and legal facilitating payments.______________________________
f. A cross-border contractual agreement allowing one company to use trademarks, patents, or technology of another company.______________________________
g. The impact on the value of a company of unexpected fluctuations in the exchange rate.______________________________
Definitions:
Q4: Discontinued operations should be shown on the
Q19: Total cash proceeds received by Johnson from
Q50: Selecting an appropriate cost accounting system<br>Listed below
Q53: Hart Corporation's net income was $400,000 in
Q62: "Adoption" means replacing current financial reporting standards
Q78: All of the following ratios are considered
Q93: Explain the major provisions of the Foreign
Q100: A prior period adjustment is a correction
Q133: Under the indirect method, depreciation, increase in
Q159: The more pessimistic investors' expectations regarding a