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If the government increases the validity period of business permits, what relief can business get?

Answer and explanation

Correct answer: Burden of frequent renewal may reduce

The governing concept is the political environment and its effect on the ease of doing business. A permit gives a business legal permission to operate for a specified period. When the validity period is extended, the business does not need to submit renewal applications, documents, fees, and compliance information as frequently. This can save administrative time and reduce interruption risk. For example, changing a permit from one-year validity to three-year validity may reduce the frequency of renewal from once every year to once every three years, although all continuing conditions still apply. Option A is correct. Options B, C, and D describe effects that do not logically follow from extending a permit's validity.

Related tags

Business-EnvironmentPolitical-EnvironmentPermitsEase-Of-Doing-BusinessPolitical EnvironmentBusiness EnvironmentBusiness StudiesClass 12 Mcq

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