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27. A contract dispute which is heard by a court without reference to a prior arbitration is known as a(n)________ review.A. appellateB. de novoC. arbitrationD. ad hocANSWER: BSKILL LEVEL: AACSB AnalyticOBJECTIVE: AICPA Legal
CHAPTER 25 INTERNATIONAL BUSINESS13228. One simple way of addressing foreign tax risks is a(n) ________, whereby the local licensee is obligated to pay all taxes other than those specifically allocated to the foreign partner.29.Under the principle of ________, a court will enforce another country’s judgments under certain conditions.30.________ is a process used mainly in the area of public international law whereby a third party, often a disinterested government, brings the parties together by establishing communication and providing a site where the parties can meet, often in secret.31.Amanda was just hired to work for a federal agency in the procurement department. Amanda shops for the best buy possible and thinks she has found a great deal. She returns to her office and tells her supervisor about her discovery. Her boss tells her to be sure that the Buy American Act is satisfied. Amanda decides to research the law. What will she find?A. That under all circumstances federal agencies must purchase products that are 100% made in the U.S.A.B. That under all circumstances federal agencies must purchase products with at least 75% of the components made in the U.S.A.C. That unless the price is a certain percentage higher than the price of the equivalent foreign product, federal agencies must buy products with at least 50% of the components made in the U.S.A. D. That federal agencies may buy foreign made products so long as it can be established that a representative did comparison shopping and that the foreign made good is a better deal.ANSWER: CSKILL LEVEL: AACSB AnalyticOBJECTIVE: AICPA Legal32.Senator Smith is tired of all the imports of televisions coming into this country. He proposes a bill by which all foreign-made televisions will be taxed at additional $100 before being allowed
133MANAGERS AND THE LEGAL ENVIRONMENTinto the country. He receives a great deal of support for his bill, but one senator questions whether such an arrangement is illegal since it will discriminate against imported goods. Which of the following is correct?