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Businesses need to be aware of the laws that are in place (or may be passed)...

Businesses need to be aware of the laws that are in place (or may be passed) that will affect their business.

True or False

Business   Accounting   
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Answer #1

ANSWER. TRUE

COMPLIANCE NEED TO BE FOLLOWED FOR ANY BUSINESS TO REMAIN COMPLIANT WITH THE GOVERNMENT REGULATIONS. THIS IS THE REASON WHY BUSINESSES NEED TO BE AWARE ABOUNT ALL THE LAWS APPLICABLE ON THEIR BUSINESS AND WHICH NEEDS TO BE COMPLIED.

THERE ARE VERY STRINGENT AND HEFTY PENALITIES FOR NON COMPLIANCE WITH LAWS AND WILL ALSO LEAD TO DISTRUST AMONG THE EXISTING AND POTENTIAL STAKEHOLDERS AND ALSO CREATE LEGAL ISSUES FOR ANY BUSINESS IN CASE OF ANY NON COMPLIANCE WITH AN APPLICABLE LAW.

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