The following are nine global business terms used in this chapter:

Each of the following statements may describe one of these terms. For each statement, indicate the global business term described, or answer €œNone€ 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 reportingstandards.

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Hedging Foreign Corrupt Foreign exchange risk Planned economy International licensing International Accounting Practices Act Globalization Standards Board Harmonization Exporting