Self-Employment - LaFLaR (5/9 covered) Quiz

Legal and Financial Legislations and Regulations refers to ‘rules and laws’ that self-employed businesses must follow.

• True

• False

Select the legal and financial legislations and regulations we looked at on Monday in the lecture. (Tick all that apply).

• Tax

• Legislation Relating to Working with Customers

• Health and Safety

• Indemnity and Insurance

• Registration with Professional Bodies/Organisations

How many legal and financial legislations and regulations must we include for Assessment 2 in total?

(We covered five on Monday)

• 7

• 8

• 9

Compulsory financial charges businesses must pay the government by law from the money they make running their business?

• Registration with professional bodies/ organisations

• Indemnity and Insurance

• Tax

• Legislation relating to working with customers

• Health and Safety

Which of the following taxes did we cover on Monday that could commonly apply to a sports business? (Tick all that apply).

• Income Tax

• Value Added Tax (VAT)

• National Insurance

• Vehicle Tax

The Health and Safety Act was formed in what year?

• 1972

• 1974

• 1976

Which of the following could a business put in place to ensure health and safety? (Tick all that apply)

• Health and Safety Policy

• Risk Assessments

• Information and Training

• First Aid

• Workplace Facilities

The Consumer Rights Act (2015) legally protects customers and clients against what?

• Product or Service

• Product or service, Returns

• Product or service, Returns, Repairs/Replacements

• Product or service, Returns, Repairs/Replacements, Delivery

Indemnity Insurance covers a self-employed business if property gets damaged such as equipment and stock.

• True

• False

Self-employed businesses will often sign up to be a member of a professional body/organisation. What does this help achieve? (Tick all that apply).

• Increases their knowledge

• Increases their skills

• Decreases their reputation

• Shows they meet a certain standard to customers