Exercise 15.1

Exercise 15.1 a. b. Exporting C. d. Foreign Corrupt Practices Act e. Hedging f. g. International Accounting Standards Board Add International licensing None (this describes a market economy) None (this describes an exchange rate)EXERCISE 15.1 Global Business Terminology 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. 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.