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If a business files tax returns on time, this is an example of what?

Answer and explanation

Correct answer: Legal and tax compliance

Filing tax returns by the due date means following tax laws and prescribed government procedures. Therefore, it is an example of legal and tax compliance. Market research involves collecting information about customers and markets, not submitting tax returns. Exam tip: Associate terms such as tax, licence, labour law and returns with legal compliance.

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Business EnvironmentLegal EnvironmentTax ComplianceLegal ComplianceClass 12Business StudiesClass 12 Mcq

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