Business Registration and Licensing in India
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Questions and Answers

What is the primary purpose of obtaining various registrations and licenses for a business entity in India?

  • To comply with regulatory requirements and operate legally (correct)
  • To streamline the process of setting up a business
  • To obtain tax benefits and incentives from the government
  • To establish a brand identity and gain customer trust

    • Which of the following statements is true about the 'Ease of Doing Business' ranking by the World Bank?

  • Both (a) and (b) (correct)
  • India ranked 63rd in the 2020 report, an improvement from 142nd in 2014
  • It compares the business environment in 190 countries annually
  • The ranking considers only the regulatory environment for setting up a business

    • Which of the following forms of business entities is compulsory to register under a specific law in India?

  • Proprietorship
  • Partnership
  • Limited Liability Partnership (LLP) (correct)
  • None of the above

    • What initiative did the Government of India launch in 2014 to improve the business environment?

    <p>An ambitious program of regulatory reforms</p> Signup and view all the answers

    Based on the information provided, which of the following statements is true about India's business environment?

    <p>India has emerged as one of the most attractive destinations for investments and doing business</p> Signup and view all the answers

    What is the significance of the 'Ease of Doing Business' ranking by the World Bank for a country like India?

    <p>All of the above</p> Signup and view all the answers

    Which form of business entity does not require any registration under a specific law in India?

    <p>Both (a) and (b)</p> Signup and view all the answers

    What is the primary objective of the Government of India's program of regulatory reforms, as mentioned in the text?

    <p>To create a more business-friendly environment</p> Signup and view all the answers

    Based on the information provided, which of the following statements is incorrect?

    <p>The World Bank's Ease of Doing Business Report considers only the regulatory environment for setting up a business</p> Signup and view all the answers

    Which of the following statements is true based on the information provided in the text?

    <p>India has made significant progress in improving its business environment</p> Signup and view all the answers

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