The following are nine global business terms used in this chapter. Hedging Foreign exchange risk International Accounting Foreign Corrupt Practices Act Planned economy Standards Board International licensing Harmonization Globalization Exporting Each of the following statements may describe one of these terms. For each statement, indicate the global business term described, or answer "None" if the statement does not correctly describe any of the terms. a. The amount it costs to purchase one unit of currency with another currency. b. Selling a good or service to a foreign customer. A cross-border contractual agreement allowing one company to use the trademarks, patents, or technology of another d. Distinguishes between illegal influence peddling and legal facilitating payments. The practice of minimizing or eliminating risk of loss associated with foreign currency fluctuations. C. company. е. f. Markets dictate the allocation of resources and output among segments of the economy. group charged with the responsibility of creating and encouraging the use of internationa financial reporting standards. g. The
The following are nine global business terms used in this chapter. Hedging Foreign exchange risk International Accounting Foreign Corrupt Practices Act Planned economy Standards Board International licensing Harmonization Globalization Exporting Each of the following statements may describe one of these terms. For each statement, indicate the global business term described, or answer "None" if the statement does not correctly describe any of the terms. a. The amount it costs to purchase one unit of currency with another currency. b. Selling a good or service to a foreign customer. A cross-border contractual agreement allowing one company to use the trademarks, patents, or technology of another d. Distinguishes between illegal influence peddling and legal facilitating payments. The practice of minimizing or eliminating risk of loss associated with foreign currency fluctuations. C. company. е. f. Markets dictate the allocation of resources and output among segments of the economy. group charged with the responsibility of creating and encouraging the use of internationa financial reporting standards. g. The
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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15.1
Transcribed Image Text:**Exercises**
The following are nine global business terms used in this chapter:
- Hedging
- Foreign exchange risk
- International Accounting Standards Board
- Foreign Corrupt Practices Act
- Planned economy
- Harmonization
- Globalization
- International licensing
- Exporting
Each of the following statements may describe one of these terms. For each statement, indicate the global business term described, or answer “None” if the statement does not correctly describe any of the terms.
a. The amount it costs to purchase one unit of currency with another currency.
b. Selling a good or service to a foreign customer.
c. A cross-border contractual agreement allowing one company to use the trademarks, patents, or technology of another company.
d. Distinguishes between illegal influence peddling and legal facilitating payments.
e. The practice of minimizing or eliminating risk of loss associated with foreign currency fluctuations.
f. Markets dictate the allocation of resources and output among segments of the economy.
g. The group charged with the responsibility of creating and encouraging the use of international financial reporting standards.
In a group of two or three students, choose a publicly traded global company that you think you might want to invest in sometime in the future. Use the Internet or annual report data to answer the following questions.
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