A Fine Alone Can Be Imposed for Offences That Have

question 41

True/False

A fine alone can be imposed for offences that have a maximum penalty of more than five years.

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Definitions:

Legal Capital

The minimum amount of capital that a company is required to maintain as per law, to protect creditors and ensure that the company remains solvent.

Corporate Form

A legal structure of a business organization that is recognized as a separate legal entity, often characterized by limited liability for its owners and issuance of stocks.

Sole Proprietorship

A business structure where a single individual both owns and runs the company, often leading to simpler administrative requirements but unlimited personal liability.

Government Regulations

Laws and rules established by governmental agencies that businesses must follow to ensure compliance with standards and protections for consumers, employees, and the environment.