A Firm must know the laws of a country in which it wants to conduct business and it must understand how the laws are reinforced.  Is this statement true or false?   Question 1 options:   a) True   b) False

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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A Firm must know the laws of a country in which it wants to conduct business and it must understand how the laws are reinforced.  Is this statement true or false?

 

Question 1 options:

  a) True
  b) False
Expert Solution
Introduction

As companies expand globally, it is important for them to be aware of the laws and regulations in the countries where they operate. In order to avoid legal complications and ensure compliance, firms must have a good understanding of the legal framework and enforcement mechanisms of each country in which they do business.

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