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legal requirements and financial considertions Flashcards | StudBud
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legal requirements and financial considertions
a tariff is...
technology in manufacturing is when...
legal requirements and financial considertions
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StudBud Administration
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a business management area of study
Flashcards
26 cards
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Questions
26
Answers
1
technology in manufacturing is when...
all of the above
robots are helping to increase overall output and save money
robotics and automation is rising
tech. tools that enable production of manufactured goods
2
a tariff is...
a restriction on the number of imports from overseas
all of the above
a tax on goods produced overseas for import into Australia
local business manufacturing goods for overseas customers
3
when you choose a supplier you consider...
Quality, Reliability, distance and CSR
Price, quantity, reliability, proximity and CSR
Price, quality, reliability, proximity and CSR
CSR, Costs and quality
4
an overdraft facility
occurs in financial institutions providing a service to bus.
all of the above
it helps businesses temporarily if they fall low on cash
allows a bus. to withdraw more money than they have avail.
5
what are some technological issues
investing in wrong technology
all of the above
being too slow to take up change
not incorporating advances into a businesses operations
6
globalisation has been a double-edged sword for Australian businesses. what does this mean?
its the trademark of globalisation
technology has only improved businesses efficiency
increased opportunities has led to increased competition
all of the above
7
why do we need financial control systems...
all of the above
by law you need to keep records for up to five years for tax
to be able to demonstrate financial position to investors
serves as an individual tool for decision making
8
The Work Health and Safety Act...
is a government body which enforces competition and safety
is a law that ensures the health and safety of workers.
is an act where businesses adhere to safety guidelines
an act which deals with the health of the business
9
what does Worksafe Victoria provide in regards to insurance?
legal costs, medical and rehabilitation costs
provides cover for the cost of benefits for workers injuries
replacement of lost income and compensation injury
all of the above
10
why do we apply for a website domain?
its the way businesses are headed
so that customers can find them easier online
to prevent other businesses from registering similar domains
all of the above
11
A domain name...
registering a domain name usually costs $1000s of dollars
is the address of a website on the internet
needs to be registered with the ASIC
is a street name
12
when businesses do not follow or obey the law, they risk...
answers 1 and 3
losing customers, profits, are fined
their reputation, are fined, the right to continue trading
the right to continue trading, losing customers
13
Taxation is...
a law that provides a consistent framework to ensure health.
a set of guidelines
a payment made to the government when you are registered
compulsory payment of a proportion of earnings to government
14
who is responsible for a national business name registration service
ADA
CCA
ATO
ASIC
15
a patent is...
right granted over a letter, word, phrase, smell, shape
a right granted for any device or process that is new
rights given to owners to commercially use, sell a design
free and automated protection of original works
16
A procedure...
a law that supports organisations to take action.
is an established set of broad guidelines to be followed
none of the above
actions that allows policies to be put into practice
17
the removal of trade barriers affects businesses because
technology allows businesses to contact overseas suppliers
Aust. businesses now have access to global supply networks
answers 1, 2 and 3
exporters now have greater access to international markets
18
The Australian Taxation Office
deals with taxes from overseas businesses
is the government body in charge of admin and collecting tax
registers domain names
is a government body responsible for registering a business
19
a seperate entity allows...
bank overdraft facilities
record keeping of trans. between owner & business seperate
all of the above
tax to be charged at a lesser amount
20
is insurance compulsory for businesses in Australia?
yes
all of the above
only if you are registered
no
21
what are some kinds of taxes...
PAYG - taken from an employees salary or wage directly
FBT - tax on the provision of a benefit to an employee
all of the above
GST - a tax of 10% on the supply of most goods and services
22
why do you need to register a businesses name
to secure the name of your website
you add to a personal name such as Pty. Ltd.
registration does not protect any specific rights to a name
to prohibit anyone else from trading under a similar name
23
what is globalisation
producing a more integrated global economic system
international integration
turning the whole world into a single market,
all of the above
24
what is bookkeeping
all of the above
keeping and processing a businesses financial records
maintaining accurate records of all legal regulations
babysitting the books of a business
25
what are three legal issues that are addressed by the Victorian Fair Trading Act (1999)
warranties, guarantees and refunds
false advertising, product safety and unfair contracts
only answer 1 and 3
taxation, patents and trademarks
26
some steps in a policy development process involves...
develop a draft policy for review by stakeholders
all of the above
identify problem, research and analyse business environments
identifying issue, consulting stakeholders, revising policy
