Question 26 (2 points) The Foreign Corrupt Practices Act is designed to stop bribery of foreign officials for the purpose of obtaining business. 1) True 2) False Question 27 (2 points) Expropriation is the seizure of foreign-owned property by a government. 1) True 2) False Question 28 (2 points) The U.S. Export Administration Act provides for export controls that are focused on maintaining national security and reducing the proliferation of weapons. 1) True 2) False Question 29 (2 points) Public international law examines relationships between nations and uses rules that are binding on all countries in the international community. 1) True 2) False Question 30 (2 points) Private international law examines relationships created by commercial transactions and utilizes international agreements to resolve business disputes. 1) True 2) False Question 31 (2 points) The United Nations Security Council has no power to authorize military action and no power to sever diplomatic relations with other nations. 1) True 2) False Question 32 (2 points) The International Monetary Fund encourages international trade by maintaining stable foreign rates and promotes orderly exchange policies. 1) True 2) False Question 33 (2 points) The World Bank promotes economic development in poor countries by making loans to finance necessary development projects and programs. 1) True 2) False Question 34 (2 points) The World Trade Organization is an international organization which seeks to resolve trade disputes between member nations. 1) True 2) False Question 35 (2 points) An irrevocable letter of credit is commonly used to ensure payment of international business transactions. 1) True 2) False Question 36 (2 points) A publicly held organization is usually owned by only a few persons, usually in family owned businesses. 1) True 2) False Question 37 (2 points) A closely held organization may be owned by hundred or more shareholders. 1) True 2) False Question 38 (2 points) A dissolution is a change in the ownership of an organization that changes the legal existence of the organization. 1) True 2) False Question 39 (2 points) A sole proprietorship is the easiest to create, gives the proprietor total control and liability for debts and provides that all income is subject to personal taxation. 1) True 2) False Question 40 (2 points) A partnership is an agreement between two or more persons or business organizations to share in a common endeavor and to share profits and losses. 1) True 2) False