a. Egypt D. Developing nations may have trouble raising the foreign exchange necessary to pay for imports. exporter may not be paid in his or her home currency due to nonconvertibility. a. may lose control over its technology property at 73 Main Avenue, Norwalk, Connecticut, a. the existence of widely torn traditional clothing styles C. SCORE program e. hypocrisy, The disorientation and stress associated with being in a foreign environment is termed a. expatriates c. offshoring A. saturation of the domestic market. B. a buyback Countertrade is most likely to be used when: Following generally accepted accounting principles, Carnival depreciates the cost of each ship over its 30-year estimated useful life. c. the personal security of host-country nationals may be an issue in some developing countries The trading house finds a firm that can use the credits and sells them at a profit. B. drawee c. multinational and international a. it is consistent with a pure global strategy d. franchising B. d. ethnocentrism the goods and services cannot be traded for money. Risk Mitigation. c. intranational What is Dan experiencing? a. Japan Which of the following is true of medium-sized and small firms? In the United States, the _____ is the most comprehensive source of public assistance and information . d. ethnocentrism E. In an international transaction, there is more trust between the exporter and the importer than in a domestic transaction. An official of the carrier gives the exporter a bill of lading. d. APEC Treaty a. the global model b. traditional practices no knowledge of the lease agreement. Identify which of the following accounts would be included in a post-closing trial balance. E. letter of credit. c. subsidiaries can customize products according to local preferences e. ASEAN, What does an integration-responsiveness grid help a manager to do? C. International Trade Veteran's Group The inputs the company uses are cheaper. B. letter of credit b. increase their level of productivity Greater production can lead to larger economies of scale and better margins. the value of the variable, year opened, from the current year. B. Advantages of Exporting Strategy can be easily implemented Less investment abroad- small firms can also enter int. A. D. strategy management company D. It helps companies increase their unit costs. d. decreasing consumer demand c. third-country national e. climate change, Under the ___, member countries of the European Union agreed to adopt a common European currency called the euro. C. Counterpurchase A. e. intranational, Exporting, licensing, franchising, joint ventures, and wholly owned subsidiaries are all methods of . c. franchising E. It allows for a delay in payment. A. D. offset C. buyback Advantages/Disadvantages of Licensing (A) Increased profitability, extended profitability. a. third-country nationals B. B. Counterpurchase B. offset b. international model Which of the following is true of exporting? a. universal needs with the new variable, age. D. bill of lading Countertrade deals are common in large-scale government procurement projects, Countertrade occurs in response to 2 factors B. E. Federal Reserve Bank, The Foreign Credit Insurance Association (FCIA) is an association of private commercial institutions operating under the guidance of the _____. It results in the importer losing control over the process of trading. e. inpatriates, ___ are natives of a country other than the home country of the host country of an overseas subsidiary b. lack of adequate housing Less common today, but still exercised in straightforward, one-shot deals You should weigh them up before starting to move into overseas markets. C. It oversees volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses. B. contract name PP Door on the storefront of the leased location. It is a reciprocal buying agreement. e. trade barriers may be removed, a. it is consistent with a pure global strategy, A disadvantage of exporting is that c. identify the best strategy for completing in a global marketplace principals of PP Door signed the lease and guaranty agreements c. overconfident C. Foreign Credit Insurance Association She claimed that Zhang had been in a car c. varying sales practices among countries c. it provides the opportunity to achieve a low-cost position via scale economies of PP Door, signed the lease agreement. a. murder It addresses the issue of lack of trust in international business. b. the European Union These goods earn foreign exchange that can be used to facilitate development. required the principal officers of PP Door to execute personal E. offset draft and counter draft, Which of the following drafts is payable on presentation to the drawee? B. exclusively serve the largest and most prestigious companies in Japan. C. It helps the importer to get goods for a lower price. Firms engaged in barter run the risk of having to accept goods they do not want or cannot use. A. Export-Import Bank A. counterpurchase In international commerce, a party initiating a draft is known as the _____. b. competitive venture Li claimed to have These firms can best overcome ignorance by: Firms prefer to be pain in hard currency. c. licensing company has control over quality levels C. Offset a. individualism B. b. CAFTA-DR b. Canada B. C. It allows the use of a specialized third-party trading house. In terms of using a third party in international trade, title to the products is given to a bank by the exporter in the form of a document known as a _____. e. it has reversed the trend of increased automation, c. wages in the foreign countries rise, reducing the expected cost savings, An organization's economic environment includes c. the international model On average, sales grow faster, more jobs are created, and employees earn more than in non-exporting firms. If negotiations fail & cost of termination is substantial assistance from its bank or attorney E. Export Credit Insurance Association, _____ has a direct lending operation under which it lends dollars to foreign borrowers for use in purchasing U.S. exports. e. etiquette, Which of the following is a consequence of an increasingly integrated global economy? E. Compensation, A firm concludes a counterpurchase agreement with a foreign country for which it receives some counterpurchase credits for purchasing its goods. e. the multinational model, In order to achieve cost economies, Peak Manufacturing bases its production plants in Mexico and gets its engineering services from skilled workers in Japan. The managers of Custom Jewelry have established the following target component percentages: CostofMerchandiseSold35.0%GrossProfitonSales65.0%Expenses40.0%NetIncomebeforeFederalIncomeTax25.0%\begin{array}{ll}\text { Cost of Merchandise Sold } & 35.0 \% \\ \text { Gross Profit on Sales } & 65.0 \% \\ \text { Expenses } & 40.0 \% \\ \text { Net Income before Federal Income Tax } & 25.0 \%\end{array} C. It assembles a "comparison shopping service" for 14 countries. the importer is in a strong bargaining position. d. contingency c. greed D. counterpurchase B. banker's check b. bribery d. exporting e. domestic, Which of the following is true of the multinational approach to international competition? (D) Tariffs and taxes, high transportation costs, government restrictions. C. promise to pay by the accepting party. It gives the exporter greater flexibility to choose the goods that it wishes to purchase. a. loss of scale economies A. kaizen The governments of developing nations sometimes insist on a certain amount of countertrade. It gives the exporter greater flexibility to choose the goods that it wishes to purchase. Disadvantage 1 of exporting When you buy goods and then sell them for less which is called a deficit. E. The trusted third party (usually a bank) issues a letter of credit in the importer's favor and sends it to the exporter's bank. It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters. e. transnational model, In companies that adopt the ___ model of organizational structure, functioins are centralized where it makes sense to do so, but a great deal of decision making also takes place at the local level. Countertrade occurs when the: NAFTA had an immediate and negative effect on the US automobile industry. E. Export Credit Insurance Association, The _____ guarantees repayment of medium- and long-term loans U.S. commercial banks make to foreign borrowers for purchasing U.S. exports. can be used to advance funds to the exporter by its local bank before or during shipment. It is the most restrictive countertrade arrangement. D. It involves huge cash transactions. Seller agrees to supply technology or equipment to construct a facility Export promotion leads to expansion of goods for the foreign market. B. U.S. Department of Commerce a. the NAFTA trade zone The following data was used to prepare adjusting entries for Hawk Company as of August 31, the end of the company's fiscal year. b. duplication of efforts D. When goods are exchanged simultaneously, one partner ends up financing the other. B. the importer is facing stiff competition from other importers. Large firms generally tend to be _____ about seeking opportunities for profitable exporting. d. The International Monetary Fund monthly payments, 73-75 Main Avenue filed a suit against PP b. a wholly owned subsidiary offers too much flexibility over operations Exporters often face voluminous paper work, complex formalities, and many potential delays and errors. C. "comparison shopping service" C. Export-Import Bank b. multinational B. in-transit bill. Indicate if each actual component percentage is acceptable or unacceptable. She also denied signing the guaranty agreement. C. It becomes a financial contract between the trusted third party (usually a bank) and the exporter. Door and its owner, Ping Ying Li. B. collateral Negative effect on world market prices c. APEC It oversees volunteers with international trade experience and directs them to provide one-on-one counseling to active and new-to-export businesses. E. buyback, In international commerce, a _____ refers to an order written by an exporter instructing an importer to pay a specified amount of money at a specified time. b. Inverse. d. Using the variable, wins, draw a dot plot. Prevalent in dealing with developing-country governments, Nontraditional trade deals since the 1960s No cash deposit or collateral is required from the importer. a. expatriate A. can be used to advance funds to the exporter by its local bank before or during shipment. Which of the following is true of a letter of credit in international trade? B. C. can be used to obtain payment or a written promise of payment before the merchandise is released to the importer. A. E. It usually involves the exchange of high-quality goods that a firm can dispose of profitably. A. Exporting is nearly always a way to increase the revenue and profit base of a company because: the international market is much larger than the domestic market. b. has high manufacturing costs a. franchising b. centralism c. customer satisfaction Contingent on a second contract = seller agrees to purchase goods for same cash amount or set percentage of it, Alternative technique for expanding into international markets a. B. receipt It gives a firm a way to finance an export deal when other means are not available. accident and had asked her to help pay his bills, including the rent A firm that enters many markets at once: B. it is detrimental to the economy of the importing country. This practice is referred to as b. keeping the assignment structure open There is no need to adapt the products to be exported to local conditions as they are sold as is. A. shortening production runs. C. It is a negotiable instrument. D. It helps exporters incur lower shipping costs. e. avoids criticism, Heinrich is a German engineer working in Africa. D. letter of credit D. In an international transaction, the exporter sends a commercial invoice that specifies the amount due and the terms of payment to the importer. e. Eastern Europe, What did the Maastricht Treaty establish? Using host-country nationals at an overseas subsidiary is generally less expensive than using expatriates. CT can support the development of poor countries C. buyer it may involve the exchange of poor-quality goods that cannot be disposed of profitably. c. raises the standards of living a. Has a short time span Litigation, arbitration, or other legal means, Countertrade: Emerging markets & developing economies, Goods/services are traded for other goods/services when conventional means of payment are difficult, costly, or nonexistent C. Switch trading Which of the following forms of countertrade is the country most likely to use? They are organizations within the U.S. Department of Commerce. . A. switch trade go to where it says "visible to" and change it to make sure it says "visible to only me" & "editable by only me" then save. c. GATT agreement B. A. runs the risk of spreading its limited management resources too thin. When a time draft is drawn on and accepted by a bank, it is known as a _____. e. provides too much freedom to its subsidiaries, a. is less responsive to consumer tastes and demands, Tres Chic, a cosmetics manufacturer, assumes that all people will view and use its products in the same way. e. licensee has lower production costs, a. licensee bears most of the costs and risks associated, A disadvantage of licensing is that the licensing company It is primarily used with trading partners who are not creditworthy or trustworthy. 1,072 charitable givers reported that their charitable contributions were motivated by tax considerations. b. international licensing D. the importer has to pay even if the conditions stated in the letter are not satisfied. A. approaching the World Bank. a. NAFTA In an international transaction, the seller usually ships merchandise on an open account. Click replace all. Ports of call allow passengers the opportunity to explore port cities in the Caribbean, Alaska, Mexico, and Canada, just to name a few. strategic exam 2-2. . D. Vietnam, The practice followed bu some companies of moving jobs to another country is called a. a low salary level b. wholly owned subsidiaries D. Bureau of Competition d. None they are independent of each other. C. exporter is unable to obtain any pre-export financing. b. international b. licensing D. The exporter ships the goods to the importer on a common carrier. C. only U.S. firms. A. arbitrage A. C. It gives a firm a way to finance an export deal when other means are not available. A. E. countervailing duty, The principle of _____ is to trade goods and services for other goods and services when they cannot be traded for money. B. Countertrade is a means of structuring an international sale when conventional means of payment are cost-effective. she had signed the credit authorization form because Zhang had e. expatriates tend to be more available than the local employees, b. expatriates often tend to transfer the corporate culture and best practices to other countries, The main cause of failure of overseas managers is Disadvantage 2 of exporting You can lose a lot of money for the country. If Jamila goes to work at Regal's factory, she will be considered a(n): One advantage of exporting is that it provides scale economies. They are private organizations that assist U.S. exporters. a. it facilitates the transfer of skills from the parent company to the subsidiaries B. outsourcing The governments of developing nations sometimes insist on a certain amount of countertrade. It is primarily used with trading partners who are not creditworthy or trustworthy. a. international e. Vietnam, Threats to China's economic future include Sight draft b. Germany c. join venture In a barter system, if goods are exchanged simultaneously, one party ends up financing the other. D. a buyback a. Brazil A. trade acceptance D. arbitrage e. a clothing factory, Which of the following is the preferred strategy when a company's competitive advantage is based on technology and the company wishes to enter the global marketplace? A. a. international The 10 Benefits of Exporting. Advantages of exporting You could significantly expand your markets, leaving you less dependent on any single one. c. multinational E. lowering unit costs. C. the exporter is not able to get a letter of credit from a local bank. Disadvantages of exporting b. competiveness E. barter, When a firm enters a(n) _____ agreement with a country, it often ends up with what are called counterpurchase credits, which can be used to purchase goods from that country. e. royalty facilitation, Which of the following is a disadvantage of franchising? D. counterpurchase C. In a domestic transaction, a draft is used to settle trade transactions. It provides large revenue and profit opportunities. C. zaibatsu The most significant disadvantage concerning franchising is brand name recognition. a. reduce their population density The Small Business Administration d. expatriation E. reduces the costs of any subsequent failure. D. Network of Foreign Trade Executives The importer places an order with the exporter an asks the exporter if he would be willing to ship under a letter of credit. A. asset for the drawee. Time draft A. offshoring A. the foreign currency is easily convertible. a. determine the profit-loss ratio for a new product B. in-transit bill E. countertrading opportunities. A. It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys. Open the find and replace box in Microsoft Word (the shortcut to do this is Ctrl + H). D. have monopolized the export market in the country. D. exporter has received a letter of credit from the importer's bank. C. The United States C. The importer places an order with the exporter and asks the exporter if he would be willing to ship under a letter of credit. a. international e. tighten immigration rules, Which of the following countries is on its way to becoming the largest producer and consumer of the world's goods? B. Which of the following is a way in which the U.S. Department of Commerce helps potential exporters? Companies both large and small now view the world, rather than a single country, as their marketplace. a. inpatriation d. realizes higher profit margins It has no value given the deferred nature of the document. Tres Chic uses the ___ model of international competition. d. transnational C. Letter of credit C. the conventional means of international trade transaction are difficult. E. kanban. E. It reduces paperwork and complex formalities. e. wholly owned subsidiary, Parent company nationals who are sent to work at a foreign subsidiary are known as a. growth of developing nations Use the compound interest formula (1) to find the indicated values. Many medium-sized and small firms are not proactive in seeking export opportunities because: they are intimidated by the complexities and mechanics of exporting to foreign countries. E. Ministry of International Trade and Industry. c. avoiding the assignment of mentors e. Unilever, Which of the following models of organization structure depends heavily on communication and coordination between subsidiaries? To serve the increasing demand for cruises, Carnival is constantly expanding its fleet of ships. Arbitrage A. TradeNet Export Advisor A drawback of countertrade is that: Compute the b. host-country nationals D. any firm in democratic nations. An advantage of _____ is that it helps in doing business in many developing nations that find it difficult to raise the foreign exchange necessary to pay for imports. c. it is the most expensive method of expanding globally e. cognitive dissonance, ___ are foreign nationals who are brought in to work at the parent company C. barter a. is less responsive to consumer tastes and demands The mission of the _____ is to provide financing aid that will facilitate exports, imports, and the exchange of commodities between the United States and other countries. D. Time draft a. there is a large amount of risk for the franchisor Competitive Advantage. B. similar preferences of the parties regarding how a transaction should be configured. d. transnational E. The importer does not have to pay the third party a fee for facilitating the transaction. E. it does not give the importer any extra time to resell the merchandise before requiring payment. A. c. global d. persistence E. It starts exporting operations for firms until they are well established. d. APEC Which of the following is an advantage of a letter of credit for an importer? Main advantages of direct exporting are as under: 1. Become a member. Offset B. it is a financial liability against the importer. Federal Mediation and Conciliation Service B. D. The Bureau of Competition B. the goods and services cannot be traded for money. B. At up to $500 million per ship, the cost of the cruise ships is one of Carnival's most significant expenses. Export promotion industries have a wide market for their produce for both domestic and foreign markets. c. global Hawk Company records prepaid assets and unearned revenues in balance sheet accounts. E. They are global export management companies. C. a counterpurchase Switch trading D. The United States has not yet evolved an institutional structure for promoting exports similar to that of Germany. D. there is mutual trust between the exporter and the importer. Advantages of strategic alliances Facilitate entry into a foreign market Allows forms to share the fixed costs and risks of developing new products or process Bring together complementary skills and assets that neither partner could easily develop on its own Disadvantages of strategic alliances Direct. 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