In 2008, the Following Non-US Multinational Had to Pay a Multi-Billion

question 31

Multiple Choice

In 2008, the following non-US multinational had to pay a multi-billion dollar fine for violating the Foreign Corrupt Practices Act:

• A)Siemens
• B)Shell
• C)BP
• D)Sanofi
• E)Novartis

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Definitions:

Fiscally Dependent

A term referring to entities that rely on a higher level of government for financing, approval of budget, or financial decision-making authority.

Public Institution

An organization established by the government to serve the public’s interest, typically funded by public money.

Enterprise Fund

A fund used by a government to account for operations financed and operated in a manner similar to private business enterprises, where the intent is that the costs of providing goods or services to the public on a continuing basis be financed or recovered primarily through user charges.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.