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WorksheetsUnderstanding Business Risk and Law
Total questions: 48
Worksheet time: 24mins
What is a risk in a business?
Something that makes a business safer
Something that could cause problems or loss
Something that always helps a business
Something that is always fun
Which of these is a risk reduction strategy?
Ignoring problems
Planning ahead to avoid danger
Making more mistakes
Forgetting rules
What does a risk matrix help you do?
Find your favourite colour
Decide how serious a risk is
Count how many sweets you have
Make a cake
Which is a good way to prevent fraud?
Share your passwords with everyone
Keep your information safe
Leave money lying around
Tell strangers your secrets
What is compliance in a business?
Following the rules and laws
Breaking the rules
Ignoring laws
Making up your own rules
Which of these is a threat to compliance?
Always following the law
Not knowing the rules
Reading the rules carefully
Asking for help
What is the role of courts in law-making?
To make cakes
To help decide what the law means
To play games
To organise parties
Which is a risk management strategy?
Ignoring risks
Identifying and controlling risks
Making more risks
Forgetting about risks
What does fraud mean?
Telling the truth
Cheating or lying to get something
Helping others
Being kind
Which of these helps reduce risk in a business?
Not checking your work
Having clear rules
Ignoring problems
Forgetting to plan
Who makes laws in Great Britain?
Parliament
The local bakery
The school
The football team
What is a risk matrix?
A chart to help see how risky something is
A list of sweets
A map of the playground
A colouring book
Which is a principle of business law?
Fairness
Cheating
Lying
Stealing
What should you do if you see something wrong at work?
Tell someone in charge
Ignore it
Join in
Hide it
Which is a way to manage compliance threats?
Training staff about rules
Not teaching anyone
Forgetting the rules
Making up new rules
What is the job of tribunals?
To help solve disagreements
To play football
To bake bread
To organise games
Which is a risk management strategy?
Avoiding dangerous things
Doing risky things on purpose
Ignoring safety
Forgetting about danger
What is one way to prevent fraud in accounting?
Checking records carefully
Not looking at records
Throwing away records
Sharing records with everyone
Which is a risk reduction strategy?
Making a plan for emergencies
Not making any plans
Ignoring emergencies
Forgetting about emergencies
What does a risk matrix show?
How likely and how bad a risk is
How many sweets you have
The weather
Your favourite animal
Which is a threat to compliance?
Not following the law
Always following the law
Reading the law
Asking questions
What is a principle of business law?
Honesty
Dishonesty
Lying
Cheating
Who helps make laws in Great Britain?
Parliament
The local shop
The school
The football team
What is a risk management strategy?
Checking for problems often
Never checking for problems
Ignoring problems
Forgetting about problems
Which is a fraud prevention technique?
Keeping passwords secret
Telling everyone your password
Writing your password on the wall
Sharing your password with strangers
What does compliance mean?
Following the rules
Breaking the rules
Ignoring the rules
Making up new rules
Which is a risk reduction strategy?
Using safety equipment
Not using safety equipment
Ignoring safety equipment
Throwing away safety equipment
What is the role of courts in law-making?
To decide what the law means
To play games
To make cakes
To organise parties
Which is a risk management strategy?
Making a list of risks
Ignoring risks
Forgetting about risks
Making more risks
Which is a principle of business law?
Treating people fairly
Treating people unfairly
Lying to people
Cheating people
What is one way to reduce risks in a business?
Forgetting about safety
Making a safety plan
Ignoring safety rules
Breaking the law
Which is a good practice for compliance?
Breaking all the rules
Making up your own rules
Ignoring company policies
Following company policies
What is the purpose of a risk assessment?
To ignore problems
To identify and evaluate potential dangers
To plan a party
To choose a favourite colour
What is one way to make sure a business follows the law?
Never check for updates
Regularly review company policies
Let everyone do what they want
Ignore all rules
Which action helps prevent fraud in a business?
Allowing anyone to access sensitive data
Setting up strong internal controls
Leaving documents unsecured
Sharing confidential information freely
What is a good way to identify risks in a business?
Assuming everything is safe
Never talking to staff
Ignoring potential problems
Conducting regular risk assessments
Which of these is an example of following compliance rules?
Breaking the law on purpose
Attending training on regulations
Ignoring company policies
Making up your own rules
What is one way to identify fraud in a business?
Letting anyone access sensitive data
Ignoring unusual transactions
Never checking any documents
Reviewing financial records regularly
Which of these helps manage risks in a company?
Ignoring safety procedures
Creating a risk management plan
Not talking to employees
Forgetting about possible dangers
Which of these is an example of a risk in business?
Having a party
Winning a prize
Getting a promotion
Unexpected financial loss
What is a good way to ensure compliance in a company?
Never reviewing policies
Letting everyone make their own rules
Ignoring regulations
Regular staff training on rules
Which action helps reduce the chance of fraud?
Sharing confidential data freely
Leaving accounts unchecked
Ignoring suspicious activity
Monitoring transactions closely
Which of these is a way to improve compliance in a business?
Updating policies regularly
Never checking regulations
Ignoring new laws
Letting employees break rules
What is a common sign of fraud in a company?
Regular audits
Clear and accurate accounting
Unexplained changes in financial records
Open communication about finances
Which action helps manage risks in a workplace?
Ignoring safety warnings
Conducting regular risk assessments
Not training staff
Leaving hazards unreported
Which of these is a way to detect fraud in a business?
Conducting regular audits
Sharing passwords with everyone
Leaving accounts unchecked
Ignoring unusual transactions
What is the purpose of internal controls in a company?
To ignore company policies
To make work more difficult
To encourage rule-breaking
To help prevent errors and fraud
Which is an example of a risk management activity?
Leaving problems unsolved
Never checking for risks
Reviewing safety procedures regularly
Ignoring employee concerns
