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Submitting reports under the Companies Act is related to which dimension?

Answer and explanation

Correct answer: Legal dimension

The governing concept is the legal dimension of the business environment, which consists of the laws, rules, notifications and compliance requirements that regulate business activities. The Companies Act is legislation governing corporate conduct, records, reporting and other responsibilities. When a company submits reports because the Act requires it, the action is statutory compliance, so option C is correct. The economic dimension concerns factors such as income, inflation, interest rates and growth. The social dimension concerns values, customs, lifestyles and demographic patterns. The technological dimension concerns tools, processes and innovation. None of those is the direct basis of this reporting obligation.

Related tags

Legal EnvironmentCompanies ActComplianceLegal EnvironmentBusiness EnvironmentBusiness StudiesClass 12 Mcq

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