Legal and Regulatory Framework for Business

Commerce ⇒ Entrepreneurship

Legal and Regulatory Framework for Business starts at 12 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Legal and Regulatory Framework for Business. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.

See sample questions for grade 12

Describe the process of obtaining a patent in India.

Explain the concept of 'limited liability' in the context of business organizations.

Explain the consequences of non-compliance with the Goods and Services Tax (GST) Act for a business.

Explain the difference between a public company and a private company as per the Companies Act, 2013.

Explain the importance of compliance with labour laws for businesses in India.

Explain the role of the Registrar of Companies (ROC) in India.

Explain the significance of the Environment Protection Act, 1986, for businesses in India.

List any two regulatory bodies that oversee business activities in India.

Which Act governs the registration and protection of trademarks in India? (1) The Trademarks Act, 1999, (2) The Companies Act, 2013, (3) The Income Tax Act, 1961, (4) The Partnership Act, 1932

Which Act regulates the payment of gratuity to employees in India? (1) Payment of Gratuity Act, 1972, (2) Payment of Wages Act, 1936, (3) Employees’ Provident Fund Act, 1952, (4) Minimum Wages Act, 1948

Which law regulates the protection of intellectual property rights in India? (1) The Patents Act, 1970, (2) The Companies Act, 2013, (3) The Income Tax Act, 1961, (4) The Factories Act, 1948

Which of the following is a consequence of non-compliance with the legal and regulatory framework for business? (1) Penalties, (2) Imprisonment, (3) Business closure, (4) All of the above

A business must comply with the ________ Act to ensure the safety and welfare of its workers in factories.

A business must obtain a ________ from the local municipal authority to operate legally within a city.

A business that fails to comply with the Environment Protection Act, 1986, may face ________.

The ________ Act governs the formation and functioning of Limited Liability Partnerships in India.

Is it mandatory for all businesses in India to register under the Goods and Services Tax (GST) Act if their turnover exceeds the prescribed limit? (Yes/No)

Is it mandatory for companies to appoint a company secretary as per the Companies Act, 2013, if their paid-up share capital exceeds the prescribed limit? (Yes/No)

Is it mandatory for companies to hold an annual general meeting (AGM) every year as per the Companies Act, 2013? (Yes/No)

Is it true that the Indian Partnership Act, 1932, makes registration of partnership firms compulsory? (Yes/No)