VCE Business Management Unit 2 AOS 1

Businesses that do not comply with legal requirements will only have to pay fines.

• Yes

• No

A business which makes very little income and one that makes a large amount of income would pay the same amount of income tax.

• Yes

• No

Suzie wants to open her new floral business and has decided on the name "Flowers by Suzie" which has already been used. Is she able to register this business name ?

• Yes

• No

A business owner can register more than one website domain which is relevant to the business.

• Yes

• No

The ACCC can enforce trade practices legislation when customers complain of product safety or business practices.

• Only when a customer complains of product safety

• When a business fails to follow any relevant legal requirements

• When a business is following relevant legislation

You are the owner of a cafe. You plan to open the business soon and have fulfilled all legal requirements. Can you legally operate ?

• Yes

• No

A bank account is....

• Recalling money transactions

• An account where money can be deposited or withdrawn

Establishing a bank account only enables a business owner to store the businesses money.

• Yes

• No

Identify what financial control systems would enable a business to do

• Determine a business's ability to properly manage its finances

• Control how much money the business spends

Identify which of the following enables a business to accurately categorise financial transactions. Select all that apply

• Financial control systems

• Establishing a bank account

• Record-Keeping strategies