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Why is following legal rules important for an entrepreneur?

Answer and explanation

Correct answer: To keep the business safe and trustworthy

Legal compliance helps a business operate within the accepted framework and protects it from avoidable penalties, disputes, and loss of confidence. It also supports fair treatment of customers, employees, and other stakeholders. Penalties, cheating, and closure are not purposes of compliance. Thus following applicable rules contributes to a safer and more trustworthy business.

Related tags

Legal-ComplianceBusiness-TrustEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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