Discuss the Foreign Corrupt Practices Act (FCPA) as one of the measures that has been adopted against corruption.
What will be an ideal response?
Government corruption is a pervasive element in the international business environment. However, a number of initiatives have been taken by governments and companies to begin to stem the tide of corruption. The Foreign Corrupt Practices Act (FCPA) makes it illegal for U.S. companies and their managers to attempt to influence foreign officials through personal payments or political contributions. Prior to passage of the FCPA, some American multinationals had engaged in this practice, but realizing that their stockholders were unlikely to approve of these tactics, the firms typically disguised the payments as entertainment expenses, consulting fees, and so on. Not only does the FCPA prohibit these activities, but the U.S. Internal Revenue Service also continually audits the books of MNCs. Those firms that take deductions for such illegal activities are subject to high financial penalties, and individuals who are involved can even end up going to prison.
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The part of the plan that describes the location and size of the business, the personnel and office equipment that will be needed, and the history of the venture is called the:
A. organizational plan. B. executive summary. C. production plan. D. description of the venture.
A ________ organizes numerical data to describe the events of an experiment
Fill in the blank with correct word.
Middle Co. uses process costing to account for the production of chocolate candy bars. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Cost per equivalent unit has been calculated to be $4.00 for conversion costs and $3.00 for materials. 3,000 units were in beginning inventory (100% complete for materials, 80% for conversion). 12,000 units were started and completed during the period. Ending inventory still in process was 6,000 units (100% complete for materials, 40% for conversion). The value of ending inventory using the FIFO method would be:
A. $97,500.00 B. $27,600.00 C. $34,699.80 D. $47,899.80
Funds that are available in a company's bank account until its payment check has cleared refers to
A) processing float. B) mail float. C) transit float. D) disbursing float.