What is an offshore center?
What will be an ideal response?
Offshore banking centers conduct international banking activities in a "lightly" regulated setting. Most of the transactions involve nonresidents as counterparties; the transactions are typically initiated outside the financial center, and the majority of the financial institutions involved are controlled by nonresidents who do business primarily with nonresidents. Offshore banking centers can be found in places such as Aruba, the Cayman Islands, and parts of the West Indies.
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A bond that guarantees that the person responsible for the property of another will faithfully exercise his or her duties is called a
A) fiduciary bond. B) performance bond. C) court bond. D) contract bond.
Polycentric orientation refers to ________
A) a host-country mind-set in which the manager develops a strong affinity with the country in which she or he conducts business B) the use of one's own culture as the standard for judging other cultures C) a collectivist mind-set, which emphasizes conformity, duty, prescribed roles, and sacrifice for the greater good D) the tendency to rely on elaborate verbal explanations, putting much emphasis on spoken words