Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

In India, which of the following is not a part of the legal framework for businesses?

Options:

Constitutional Provisions

Companies Act 2013

Foreign Exchange Management Act

Declaration of Independence

Correct Answer:

Declaration of Independence

Explanation:

In India, Constitutional Provisions; Companies Act 2013; Industries (Development and Regulations) Act 1951; Foreign Exchange Management Act and the Imports and Exports (Control) Act 1947; Factories Act, 1948; Trade Union Act; 1926; Workmen’s Compensation Act, 1923; Industrial Disputes Act, 1947, Consumer Protection Act, 1986, Competition Act,2002 and host of such other legal enactments as amended from time to time by the Parliament, is important for doing business. Impact of legal environment can be illustrated with the help of government regulations to protect consumer’s interests.