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Why is legal compliance necessary for an entrepreneur?

Answer and explanation

Correct answer: Because it reduces the risk of penalties, disputes, and business closure

Legal compliance means following the laws and regulations applicable to the enterprise, such as registration, taxation, safety, and consumer requirements. It helps reduce penalties, disputes, and interruption of operations. Compliance does not remove the need for accounting, and rules are not limited only to large firms.

Related tags

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

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