Exam 3: Legal, Technological, Accounting, and Political Environments

A country restricting access to high-technology goods or withdrawing preferential tariff treatments is using ________.

Sophisticated machine tools that can be used to build both civilian aircraft and ballistic and cruise missiles are an example of a dual-use product.

Why is arbitration preferred as a means of resolving disputes?

International businesses prefer the common law system because its laws affect business the same way in every country.

What is the purpose of the Helms-Burton Act? Why do you think this law is controversial?

The United States restricts all trade with Cuba. This is an example of a(n) ________.

National legal systems typically vary for all of the following reasons EXCEPT ________.

Bureaucratic law is preferred by companies because it never varies, laws are laws.

Political risk that affects all firms in a country is referred to as ________.

Which of the following is most likely a true statement about piracy on the high seas?

________ refers to the transfer of ownership of resources from the private to the public sector.

Religious law is common in countries that are heavily populated by Muslims, such as Iran and Pakistan.

Which of the following is LEAST likely a sanction?

A country that attempts to regulate business activities that are conducted outside its borders is using ________.

The foundation of the legal system in China is ________.

Explain the meaning of extraterritoriality.

Which results in a loss of assets?

In which country are monetary awards in legal disputes usually the highest?

In general, what factors influence a country's accounting system? How do accounting system differences among countries affect international firms?

Britain's legal system is based on religious law.