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If a company prepares a legal calendar to avoid non-compliance, what is its purpose?

Answer and explanation

Correct answer: Ensure timely filings and renewals

A legal calendar is a compliance-management tool. It records important statutory dates, such as filing deadlines, licence renewals, registrations, inspections, tax submissions, and required reports, and assigns responsibility for completing them. Its purpose is to prevent an obligation from being missed and to give the organisation time to collect information, obtain approval, and submit accurate documents. Thus option A is correct: timely filings and renewals reduce the risk of penalties, loss of permission, or other legal consequences. The calendar does not control weather, alter a customer's personal information, or change machine sound. Those choices are unrelated to legal deadlines. The underlying principle is that systematic monitoring helps a business respond to the legal environment proactively instead of reacting after a violation occurs.

Related tags

Business-EnvironmentLegal-EnvironmentCompliance-CalendarDeadlinesLegal EnvironmentBusiness EnvironmentBusiness StudiesClass 12 Mcq

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