11BM Lesson 5: Reviewing Your Learning

Which of the following are features of an effective domain name?

• It is unique.

• It represents the business and its activities.

• It is easy to remember.

• All of the above

Which of the following business structures allow the owner to operate the business in their own name without the need to register a separate business name?

• 
  Sole trader

• Private company

• Public company

• All of the above

Which of the following best describes Australia’s progressive tax system?

• As individuals earn a higher amount of income, the rate of tax increases.

• As individuals earn a higher amount of income, the rate of tax decreases.

• As individuals earn a higher amount of income, the amount of tax decreases.

• The rate of tax for all individuals is 30 per cent.

Which one of the following is a state tax that a business may have to pay?

• Goods and Services Tax

• Stamp duty

• Group tax — PAYG

• 
  Fringe Benefits Tax

Which of the following are not areas addressed by the Fair Trading Act 1999 (Vic)?

• Warranties, guarantees and refunds

• Vouchers, gift cards and lay-bys

• False advertising

• Occupational Health and Safety

Which of the following is not an objective of the Work Health and Safety Act 2011?

• Ensuring that there is fair and effective representation, consultation and issue resolution when it comes to work health and safety

• Protecting workers or other persons against harm to their health, safety and welfare arising from work

• Promoting the provision of advice, information, education and training in relation to work health and safety

• Ensuring the courts impose harsh sentences on those who make errors that jeopardise the safety of workers

Which of the following would not be covered by WorkCover insurance?

• Replacement of lost income

• Legal costs

• A loss of business opportunities due to being understaffed

• 
  Lump sum compensation in the event of a serious injury

Which of the following professions can be external freelancers?

• 
  Human resource (HR) and recruitment professionals

• Sales and marketing consultants

• Information technology (IT) technicians

• All of the above

Which of the following is the most important factor for business owners when selecting a business bank account?

• A high rate of interest

• A low rate of interest

• An interest-free bank account

• A low rate of interest with high bank fees

Which of the following is the least likely to be a consideration when establishing a business bank account?

• The share price of the financial institution

• The bank fees charged on the bank account

• Whether a bank overdraft is available with the given bank account

• The interest rate of the bank account