outcome 1 Flashcards

1
Q

what is a legal requirment

A
  • registering business name,
  • website domain,
  • trade practises legislation,
  • business tax compliance
  • work safe experience
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2
Q

registering a website domain name

A
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3
Q

business taxation compliance

A
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4
Q

work safe insurance

A
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5
Q

consumer protection and fair competition

A
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6
Q

explain why it is important when establishing a business to comply with legal requirements
2 marks

A
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7
Q

describe to legal requirements that need to be considered when establishing a business
4 marks

A
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8
Q

analysis the health and safety requirement of establishing a business
6 marks

A
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9
Q

define domain name

1 mark

A
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10
Q

describe the role a business name plays in establishing a business
2 marks

A
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11
Q

outline and give an example of the taxation requirements of operating a business
3 marks

A
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12
Q

factors to consider when choosing the right bank account

A
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13
Q

bank fees

A
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14
Q

intrest rates

A
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15
Q

intrest rates

A
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16
Q

overdraft

A
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17
Q

credit cards

A
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18
Q

convenience and support

A
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19
Q

define financial control systems

1 mark

A
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20
Q

describe the role of bank account in running a business

3 marks

A
21
Q

distinguish between financial control systems and records keeping strategies
4 marks

A
22
Q

explain one finacial control system that a business might use to improve its financial performance
2 marks

A
23
Q

explain why establishing a bank account is an important decision for a new business owner
2 marks

A
24
Q

outline the importance of a business developing effective record keeping strategies
2 marks

A
25
Q

why is the relationship between suppliers and business important?

A
26
Q

quality

A
27
Q

timeliness

A
28
Q

competitivness

A
29
Q

innovation

A
30
Q

consideration when choosing socially responsible suppliers

A
31
Q

financial/ economic

A
32
Q

social

A
33
Q

environmental

A
34
Q

outline two considerations that a business might make when choosing appropriate suppliers
2 marks

A
35
Q

what is the importance of choosing appropriate suppliers

A
35
Q

what is the importance of choosing appropriate suppliers

A
36
Q

identify a business that uses socially responsible suppliers, justify the businesses decision to use suppliers that meets its corporate social responsibility objectives
3 marks

A
37
Q

explain two reasons poor supply chain management can impact on the success of the business
4 marks

A
38
Q

policies

A
39
Q

procedures

A
40
Q

explain one advantage and disadvantage of deleting policy and procedure in business
4 marks

A
41
Q

Policy is only as good as the procedures that follow it’ Discuss this statement and whether you feel it to be true?
(6 marks)

A
42
Q

Explain how policies protect both the employee and the employer? (4 marks)

A
43
Q

what are some global and technical issues that may affect decision making when establishing a business

A
44
Q

Outline two factors that a business owner will need to consider when developing contact with overseas
retailers. (2 marks)

A
45
Q

Explain the effects that developments in technology may have on decision making when establishing a
business. (3 marks)

A
46
Q

Describe one technological issue and one global issue that may affect decision making when establishing a business. (4 marks)

A
47
Q

Discuss a business owner’s decision to develop contact with overseas suppliers when establishing a
business. (4 marks)

A
48
Q

end of outcome 1

A