Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act? A. Making and performance of commercial contracts in international trade. B. Preventing bribery and unethical acts in the conduct of international business. C. Establishing a set of safety standards to which a new product must adhere. D. Controlling the mafia activity that hinders trade in Russia, Japan, and the us
Question
Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act? A. Making and performance of commercial contracts in international trade. B. Preventing bribery and unethical acts in the conduct of international business. C. Establishing a set of safety standards to which a new product must adhere. D. Controlling the mafia activity that hinders trade in Russia, Japan, and the us
Solution
The Foreign Corrupt Practices Act (FCPA) regulates the following area of international trade:
B. Preventing bribery and unethical acts in the conduct of international business.
Here's the explanation in a step-by-step manner:
Step 1: Understanding the Foreign Corrupt Practices Act - The FCPA is a United States law passed in 1977 that aims to prevent the bribery of foreign government officials by U.S. persons and businesses.
Step 2: Identifying the Relevant Area - Among the options provided, the FCPA is specifically related to preventing bribery and unethical acts in the conduct of international business.
Step 3: Eliminating Irrelevant Options - The FCPA does not regulate the making and performance of commercial contracts in international trade (Option A), establishing a set of safety standards to which a new product must adhere (Option C), or controlling mafia activity that hinders trade in Russia, Japan, and the US (Option D).
Step 4: Confirming the Answer - Therefore, the correct answer is Option B. The FCPA is designed to prevent bribery and unethical acts in the conduct of international business.
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