While the Foreign Corrupt Practices Act of 1977 Remains in Effect

question 1

Multiple Choice

While the Foreign Corrupt Practices Act of 1977 remains in effect, its internal control provisions have been largely superseded by which of the following?

• A)The Sarbanes-Oxley Act of 2002
• B)The Racketeer Influenced and Corrupt Organization Act
• C)The Federal False Statements Statute
• D)The Federal Mail Fraud Statute

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Definitions:

Dividends

Dividends are payments made by a corporation to its shareholders, usually as a distribution of profits, reflecting the shareholders' ownership in the company.

Equity Method

An accounting technique used by a company to record its investment in another company, where the investment represents a significant influence over the investee.

Consolidated Net Income

The total net income of a parent company and its subsidiaries after elimination of inter-company transactions and accounts.

Net Income

The amount of earnings left over after all expenses and taxes have been subtracted from total revenue.