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Give the name of environment that provides the framework, within which the business has to function?
- a)Economic environment
- b)Social environment
- c)Legal environment
- d)Technological environment
Correct answer is option 'C'. Can you explain this answer?
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Give the name of environment that provides the framework, within which...
Legal environment provides the framework, within which the business has to function.
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Give the name of environment that provides the framework, within which...
Legal Environment
The legal environment refers to the framework of laws, regulations, and rules that businesses must adhere to while operating. It provides the necessary guidelines and boundaries within which a business has to function. Here is why the legal environment is crucial for businesses:
Compliance
- Businesses must comply with various legal requirements such as taxation laws, labor laws, environmental regulations, and more.
- Failure to comply with these laws can result in fines, lawsuits, or even the closure of the business.
Protection
- The legal environment also provides protection to businesses by outlining their rights and responsibilities.
- It ensures fair competition, protects intellectual property, and safeguards consumer rights.
Stability
- A stable legal environment creates predictability and consistency for businesses.
- It allows businesses to plan and make decisions with confidence, knowing that the legal framework will remain relatively constant.
Risk Management
- Understanding and navigating the legal environment helps businesses identify and mitigate potential risks.
- By staying informed about legal changes and requirements, businesses can proactively manage legal risks.
In conclusion, the legal environment is a crucial aspect of the overall business environment as it provides the necessary framework within which businesses must operate. Businesses must stay informed about legal requirements and ensure compliance to avoid legal issues and protect their interests.
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Give the name of environment that provides the framework, within which the business has to function?a)Economic environmentb)Social environmentc)Legal environmentd)Technological environmentCorrect answer is option 'C'. Can you explain this answer?
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Give the name of environment that provides the framework, within which the business has to function?a)Economic environmentb)Social environmentc)Legal environmentd)Technological environmentCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Give the name of environment that provides the framework, within which the business has to function?a)Economic environmentb)Social environmentc)Legal environmentd)Technological environmentCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Give the name of environment that provides the framework, within which the business has to function?a)Economic environmentb)Social environmentc)Legal environmentd)Technological environmentCorrect answer is option 'C'. Can you explain this answer?.
Give the name of environment that provides the framework, within which the business has to function?a)Economic environmentb)Social environmentc)Legal environmentd)Technological environmentCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Give the name of environment that provides the framework, within which the business has to function?a)Economic environmentb)Social environmentc)Legal environmentd)Technological environmentCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Give the name of environment that provides the framework, within which the business has to function?a)Economic environmentb)Social environmentc)Legal environmentd)Technological environmentCorrect answer is option 'C'. Can you explain this answer?.
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