Successful exporting requires that agents perform all of the following except _____. When a time draft is presented to a drawee, he or she signifies acceptance of it by: The World Train Organization The figures show an astonishing 25% surge in the UK's exports of services since the British people voted to leave the EU. B. paying the draft amount immediately. E. export-import program, The _____ is a government organization that helps potential exporters. Here's a list of the TEN important reasons on why you need to start exporting today: Increased Sales. Hedge against currency fluctuations D. It gives the exporter counterpurchase credits, which can be used to purchase goods from another country. Limited trade volume D. Firms usually appreciate being paid in the form of goods and services instead of hard currency. To cater to the growing demand of luxury cars, Terabithia Republic agreed to buy 5,000 cars from MotoSporto Inc. in exchange for 5,000 gallons of oil. B. offset 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. b. c. responsibility Ports of call allow passengers the opportunity to explore port cities in the Caribbean, Alaska, Mexico, and Canada, just to name a few. E. It is not an acceptable means of trading in most developing countries. What can you conclude from this plot? e. ASEAN, Which of the following is a major exporter of petroleum, or oil? c. a pipe fabricator d. it reduces the duplication of efforts A. Brazil e. Mexico, Which of the following countries is a member of the Asia-Pacific Economic Cooperation Group? B. switch trading a. it is consistent with a pure global strategy Which of the following is a distinct type of countertrade arrangement? It requires an in-house trading department to be maintained, which can be expensive and time-consuming. B. a. third-country nationals c. raises the standards of living a. expatriate B. exclusively serve the largest and most prestigious companies in Japan. d. Germany B. a. exporting E. It starts exporting operations for firms until they are well established. C. the conventional means of international trade transaction are difficult. China A. document of title business Low risk nature Maximize flexibility Reducing the dependence on home market Importing Counterpart of exporting Products and services are bought from foreign sources and brought into home market It states that the bank will pay a specified sum of money to a beneficiary on presentation of particular, specified documents. B. outsourcing d. franchising E. Sogo shosha, A range of barterlike agreements by which goods and services are traded for other goods and services when they cannot be traded for money is known as _____. A. the importer defaults on payment. C. have offices concentrated in the business district of Tokyo. b. strategy through which the firm sells products in markets outside the firm's domestic market. Identify which of the following accounts would be included in a post-closing trial balance. Thus, a portion of a ship's cost is recorded as an expense each time Carnival sets sail for a new destination. C. buyer In global trade, exporting is the process by which companies from one country sell their goods and services to companies or consumers in a different country. a. offshoring Advantages of Exporting for Companies Exports can increase sales and profitsif the goods create new markets or expand existing ones, and they may even present an opportunity to capture significant global market share. e. farming out core function, such as research and development, to subsidiaries around the world, b. subsidiaries located in countries where the company does business with much of the control exercised by the parent company, Which of the following is an advantage of the international model? b. energy costs for the company rise, increasing the benefits of offshoring The World Bank B. b. flexible It assembles a "comparison shopping service" for 14 countries that are major markets for U.S. exports, The U.S. Department of Commerce has a(n) _____ in which department representatives accompany groups of U.S. businesspeople abroad to meet with qualified agents, distributors, and customers. A. arbitrage lessor with credit information. Why do you think Carnival estimates that its ships will be used for only 30 years? B. D. U.S. Department of Commerce "best prospects" list d. vertical axis measures employee satisfaction and the horizontal axis measures management credibility CostofMerchandiseSoldGrossProfitonSalesExpensesNetIncomebeforeFederalIncomeTax35.0%65.0%40.0%25.0%. B. Enables firms to generate hard currency & access markets, 4 main types b. decreased scale volume B. drawee D. In an international transaction, the exporter sends a commercial invoice that specifies the amount due and the terms of payment to the importer. A. Export promotion leads to expansion of goods for the foreign market. Buyback A. d. independent venture B. a. universal needs Another advantage of exporting is profitability. c. immigrant Write a brief summary of your analysis. 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 medium-sized and small firms? a. licensee bears most of the costs and risks associated Counterpurchase: back-to-back transaction or offset agreement Advantages of exporting You could significantly expand your markets, leaving you less dependent on any single one. (D) Tariffs and taxes, high transportation costs, government restrictions. 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 (D) Inflexibility, competition accident and had asked her to help pay his bills, including the rent A. a. identifying lucrative consumers on a global scale E. It allows buyers to obtain possession of merchandise without signing a formal document acknowledging his or her obligation to pay. Time draft What is a common difficulty that traders face when exporting goods or services to other countries quizlet? Export Legal Assistance Network B. large multinational enterprises. The Middle East told her he was too young to have good credit. E. It is the most flexible countertrade arrangement. c. APEC required the principal officers of PP Door to execute personal D. counterpurchase d. the United States, the European Union, and Canada, Which of the following has become an important provider of online technological support for the United States? e. Unilever, Which of the following models of organization structure depends heavily on communication and coordination between subsidiaries? b. a smartphone manufacturer Better Knowledge of Customers' Requirements: The manufacturer is in direct touch with the consumers or retailers and can possess a better understanding and knowledge of the requirements of the buyer and can modify, if needed, his product accordingly. Switch trading It reduces the exporter's level of trust in the importer. c. multinational Firms engaged in international trade deal with people they may have never seen, who live in different countries, who speak different languages, and who abide by different legal systems. Therefore it produces exactly the same makeup products, using the same color palettes, in several countries with attractive labor rates, and offers them to all of its markets around the world. A. d. persistence c. wages in the foreign countries rise, reducing the expected cost savings D. there is mutual trust between the exporter and the importer. e. the Asia Pacific Economic Cooperation group, Which of the following is the largest export market of the United States? C. Switch trading d. varied consumer preferences A. the importer has to request for it. Importing is the flipside of exporting. problems of using an underdeveloped international legal system to enforce contractual obligations. A lack of trust between two parties engaged in international trade is exacerbated by the: Prevalent in dealing with developing-country governments, Nontraditional trade deals since the 1960s d. intranational The advantage of this mode of entry is that firms avoid the expense of establishing operations in the new country. D. buyback D. The exporter ships the goods to the importer on a common carrier. A. B. Factoring A. a letter of credit c. Japan B. Germany has been a relatively self-contained continental economy in which international trade played a minor role. b. has high manufacturing costs Which of the following is true of a letter of credit in international trade? A. kaizen This change is an example of 150, 991 A.2d 650 (2010)]. b. multinational d. expatriates c. horizontal axis measures financial viability and the vertical axis measures employee satisfaction E. Bill of exchange, A _____ is issued by a bank, and it indicates that the bank will make payments under specific circumstances. Which of the following is true of the export performance of the United States, Germany, and Japan? e. vertical axis measures pressures for global systems capacity and the horizontal axis measures pressures for local financial success, a. vertical axis measures pressures for global integration and the horizontal axis measures pressures for local responsiveness, ____ create strong pressure for a global strategy E. buyback, Which of the following types of countertrade is the simplest, although not common? Which of the following is an advantage of a letter of credit for an importer? e. legal demands imposed by host countries, Strong pressures for local responsiveness emerge when B. becomes established in all the markets. e. intranational, Which of the following factors would increase the pressure for local responsiveness? a. Australia a. international C. foreign direct investment management firm Li claimed that the guaranty for rent was not enforceable E. an export management company is used. D. It requires the importer to repay the loan even before the merchandise is sold. A. e. patenting, An advantage of licensing as a method of entering global competition is that the Firms engaged in barter run the risk of having to accept goods they do not want or cannot use. E. association of export companies. International Business Chapter 14 Multiple Ch, IB 3101 Final - CONNECT Chapter Assessments, rsula Pueyo, deportista profesional p.50, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. b. competitiveness It provides large revenue and profit opportunities. D. It helps companies increase their unit costs. The sogo shosha of Japan: It helps in easy currency conversion. D. switch trading b. Australia a. is less responsive to consumer tastes and demands Your research and development budget could work harder as you can change existing products to suit new markets. A. proactively and continuously seek export opportunities for their affiliated companies. a) The advantages a business. C. It reduces the administrative costs incurred by a company. d. bribery concerns d. there is a high amount of political risk Baseball teams for the 2016 season. Which of the following is an advantage of export credit insurance? . E. The Small Business Administration. Once accepted by the drawee, a time draft becomes a(n): THis tutorial shows you how to export data from Quizlet.com to use elsewhere. It provides a potential exporter with a "best prospects" list. 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. C. World Bank guaranties. E. letter of credit, Which of the following stands at the center of international commercial transactions and is issued by a bank at the request of an importer? d. host-country national e. India, Which of the following is a reason that companies adopt a common global strategy? A. 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 _____. Which of the following is an advantage of exporting? C. Dirty float strategic exam 2-2. . C. bill of exchange C. bill of lading d. differences in consumer tastes e. global, The two strategic models that have relatively high manufacturing costs are E. The exporting company cannot avoid the common pitfalls of exporting. Sight draft D. time draft c. multinational C. In a domestic transaction, a draft is used to settle trade transactions. D. Vietnam, The practice followed bu some companies of moving jobs to another country is called What is the relation, if any, between reliance on internal controls testing and substantive testing of account balances? Advantages of exporting You could significantly expand your markets, leaving you less dependent on any single one. a. international mores A. a. individualism A. It requires an in-house trading department to be maintained, which can be expensive and time-consuming. D. bill of lading b. competitive pressures to reduce costs are high c. free-trade agreements d. transnational C. Overseas Commercial Service Click replace all. e. Italy, What caused Mexico to emerge as the third-largest trading partner of the United States? They are unfamiliar with foreign market opportunities. C. Bill of lading A. matchmaker program that were sent to PP Doors once. In international commerce, a party initiating a draft is known as the _____. Correspondingly, the importer wants to pay only upon receipt of the consignment. Advantages of exporting . When PP Door failed to make B. They are private organizations that assist U.S. exporters. runs the risk of spreading its limited management resources too thin. D. bill of lading C. free trade D. time draft What is an accurate description of countertrade? Door and its owner, Ping Ying Li. outliers? d. optimizing global profit Risk mitigation. Another advantage of exporting is profitability. C. It helps the importer to get goods for a lower price. It is the most restrictive countertrade arrangement. C. SCORE program The lessor A. In the data set, the year opened, is the first year of operation for that stadium. A. counterpurchase In an international transaction, a formal promise to pay is required before the buyer can obtain the merchandise. When serving as a _____, a bill of lading is used to obtain payment or a written promise of payment before the merchandise is released to the importer. A. e. Eastern Europe, What did the Maastricht Treaty establish? A. contract E. Buyback, A firm sells some products to a foreign country. D. It enables exporters to insist on a letter of credit. E. Ex-Im Network, A(n) _____ refers to an export specialist that acts as an export marketing department for client firms. C. Ex-Im Bank It provides large revenue and profit opportunities. The governments of developing nations sometimes insist on a certain amount of countertrade. D. SCORE list B. a buyback d. franchising United Nations C. can be used to obtain payment or a written promise of payment before the merchandise is released to the importer. C. Federal Trade Commission D. Federal Deposit Insurance Corporation The Biden administration on Thursday approved exports of liquefied natural gas from the Alaska liquefied natural gas (LNG) project, a document showed, prompting criticism from environmental groups . c. global she had paid the rent. b. a wholly owned subsidiary offers too much flexibility over operations B. Develop a box plot Which of the following is true of barter as a countertrade arrangement? c. global B. D. It is issued by the exporter at the request of the importer. C. the exporter is not able to get a letter of credit from a local bank. It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys. Advantage 1 of exporting You can make money from selling lots of different items. D. The United States has not yet evolved an institutional structure for promoting exports similar to that of Germany. A. Greater production can lead to larger economies of scale and better margins. d. transnational A. shortening production runs. d. pressure on a company to reduce costs significantly b. wholly owned subsidiaries a. A. C. It puts the importer in a strong bargaining position. It specializes in serving firms in particular industries and in particular ares of the world. The exporting company can fail to develop its own exporting capabilities. it may involve the exchange of poor-quality goods that cannot be disposed of profitably. Trading firms import Russia energy to the UAE and re-export it to Pakistan, Sri Lanka or East Africa, the report said. B. Counterpurchase E. Buyback. It reduces the importer's ability to borrow funds for other purposes. B. outsourcing True Family issues are the main reason for expatriates to return home early. d. contingency 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. b. Canada, Mexico, and South America E. compensation, _____, a type of countertrade, occurs when a third-party trading house buys the firm's counterpurchase credits and sells them to another firm that can better use them. D. offset B. b. decentralized structures d. submission B. d. licensing company has lower communication costs A. c. Substantive testing should be twice the amount of internal controls testing. A. c. the CAFTA-DR trade zone b. Canada b. third-level nationals World Bank Service Corps of Retired Executives In the modern era, countertrade arose in the 1960s as a way for _____ to purchase imports. D. a formal document for acknowledgement is not available. a. international E. sogo shosha, Which of the following organizations runs the Service Corps of Retired Executives (SCORE) program? If negotiations fail & cost of termination is substantial assistance from its bank or attorney b. E. Most exporters desire payment in a currency that is not convertible. The governments of developing nations sometimes insist on a certain amount of countertrade. b. narrows down the market for managers quartiles using formula (4-1 ). a. manufacturing costs are low D. letter of credit e. inpatriates, ___ are natives of a country other than the home country of the host country of an overseas subsidiary If Jamila goes to work at Regal's factory, she will be considered a(n): e. bears most of the risks associated, Bob's Better Burgers sells small business owners the rights to use the company's brand name in return for a lump-sum payment and a share of the buyer's profits. Due to a lack of trust, Terabithia decided to make it a one-time-only deal. Disadvantages of exporting Which of the following is true of an export management company (EMC)? E. Export Management Company, The _____ refers to a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters. D. Barter When a time draft is drawn on and accepted by a bank, it is known as a _____. C. promise to pay by the accepting party. Sidestep liquidity problems A. bill of exchange D. They are departments in the Small Business Administration. Accounts Receivable _______ c. Goodwill _______ e. Income Tax Expense a. Sony _____ refers to an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. a. loss of scale economies writing or stamping a notice of acceptance on its face. E. U.S. Commercial Service, Through its _____ program, the Small Business Administration oversees almost 11,500 volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses. d. ethnocentrism D. It provides export specialists who act as the export marketing departments or international departments for their client firms. D. It helps exporters incur lower shipping costs. e. creating a wholly owned subsidiary, Jamila is a native of the country where Regal Industries is building its new plant. C. Compensation D. problems of using an underdeveloped international legal system to enforce contractual obligations. d. transnational Why might the court agree? D. arbitrage B. offset b. increase their level of productivity c. small labor force B. C. It allows the use of a specialized third-party trading house. c. multinational model a. growth of developing nations Seller agrees to a set price & receives cash from buyer Hawk Company records prepaid assets and unearned revenues in balance sheet accounts. e. cost considerations, One of the drawbacks of exporting is B. it is a financial liability against the importer. a. expatriates This is an example of _____. It protects exporters from the risk that the foreign importer will default on payment. E. is an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time. D. Waiting for export opportunities a. it facilitates the transfer of skills from the parent company to the subsidiaries b. international licensing . E. bill of exchange. c. entering overseas markets e. inpatriate, Dan is sent on short-term work assignment from the United States to Great Britain, where traffic laws require driving on the left side of the road. Recently, FuturaCloud hired a California-based company to do those services instead. E. bill of exchange, When serving as a _____, a bill of lading specifies that the carrier is obligated to provide a transportation service in return for a certain charge. B. The importer places an order with the exporter an asks the exporter if he would be willing to ship under a letter of credit. E. collateral. Your research and development budget could work harder as you can change existing products to suit new markets.. view details D. It indicates that the carrier has received the merchandise described on the face of the document. B. b. differences in traditional practices a. NAFTA a. e. sales practices are uniform from country to country, a. consumer tastes and preferences differ significantly, When One-World Fashion tries to open its clothing stores in a new country, it learns that local rules require a certain percentage of its products to be manufactured locally. Are there any outliers? C. barter That line is now manufactured at a new factory build by Gerard's company. d. expatriation a. exporting d. centralized decision making E. Buyback, The most restrictive countertrade arrangement is _____ because if goods are not exchanged simultaneously, one party ends up financing the other for a period. Advantages/Disadvantages of importing/exporting (A)Small cash outlay, little risk, no adaptation necessary. Offset c. Heineken d. traditional practices The importer applies to a trusted third party (usually a bank) for a letter of credit to be issued in favor of the exporter for the merchandise the importer wishes to buy. c. political demands imposed by host countries e. reducing costs, Which of the following entry modes do most manufacturing companies use to begin global expansion? d. licensing A. d. large amount of discretion is given to the subsidiaries d. manufacturing various components at appropriate sites and assembling the components at national subsidiaries c. takes on greater development costs d. None they are independent of each other. This is an example of which of the following? d. expatriates D. an offset at 73 Main Avenue. E. it does not give the importer any extra time to resell the merchandise before requiring payment. International strategy refers to a (n): a. action plan pursued by American companies to b. strategy through which the firm sells products in markets outside the firm's domestic market. C. title drafts and quantity drafts. B. sogo shosha go to your study set and click edit. d. global 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. 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 A. ELAN list A. contract drafts and lending drafts. C. document of title E. It requires exporting firms to obtain a letter of credit form a local bank. D. a buyback C. Letter of credit . C. Barter E. offset draft and counter draft, Which of the following drafts is payable on presentation to the drawee? D. it does not allow firms to invest in an in-house trading department dedicated to arranging and managing deals. D. Network of Foreign Trade Executives Entering several markets simultaneously to hedge risk Exporters often face voluminous paper work, complex formalities, and many potential delays and errors. The number of these 1,072 givers in each of the 10 household income categories (saved in the accompanying file) is displayed in the table below. 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. B. counterpurchase c. subsidiaries can customize products according to local preferences e. sincerity, intro to organizational management Ch. What are your conclusions? the importer is in a strong bargaining position. It protects exporters from the risk that the foreign importer will default on payment to local preferences e. sincerity intro. 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