Explain the salient features of Competition Act, 2002
The competition Act, 2002 which passed on 13th January, 2003 is a laudable step towards harmonizing international trade policy. It intends to provide:- a) For...
Business Ethics
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Define consumer as per competition Act, 2002
CONSUMER – Sec2(f) – “consumer” means any person who – (i) buys any goods for a consideration which has been paid or promised or partly...
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Competition Laws UK & US
3 major federal anti-trust laws in US aimed at encouraging competition are:- i) The Sherman Act passed in 1890 & aimed at restraint of...
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What are the rights of consumers?
Rights of consumers: ü Right of protection against marketing of goods which are hazardous to life & property. ü Right of information about the...
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How to create a sound ethical environment?
A sound ethical environment can be created if the following points are kept in mind: 1) Awareness of legal and ethical responsibilities ü ...
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What are the reasons which encourage employees to act unethically?
Some of the reasons which encourage employees to act unethically are as follows: Emphasis on short term results: Company’s manipulated accounting entries to depict...
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What is the Principles of Objectivity?
According to this principle accounting and finance professionals should not allow bias, personal views, conflicting interest and undue influence of themselves or other to override...
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What is the Principle of Integrity?
Integrity means “adherence to moral and ethical principles” professional have to adhere religiously to honesty and straight forwardness while disclosing their representative professional duties. The...
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What are the types of ethical threats?
The dynamic environment in which business operate today has posed many situation because of which compliance with fundamental principles may be potentially threatened. Such threats...
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What are Intimidation ethical threats?
Being threatened with dismissal or replacement. Being threatened with litigation. Being pressured to reduce inappropriately the extent of work performed in order to reduce fees....