Ethical And Legal Issues || Why the Issues are Important

Question 1

A Business should be a bona fide firm on establish and not used as a “front for money laundering and other illicit activities .

Answer 1

A business should be genuine and not a front for illegal activities to ensure legal compliance, maintain trust and reputation, support a fair economy, enhance security, and uphold ethical standards.

Question 2

A Company should make sure that the capital to set up and run it’s operations is obtained legally and not tainted with illegal operations as a source of funding.

Answer 2

Business must obtain money legally and ensure that it has came from a legal source.Illegal funds

Question 3

A ethical business should make sure taxes and nation insurance contributions are paid to the government on time.

Answer 3

Businesses should pay their taxes and national insurance contributions on time because it is the right thing to do for society and the law. This helps support public services, ensures fair competition, builds trust with others, and avoids legal problems that could harm the business.