Professional Documents
Culture Documents
questions
Submission details
The Assessment Task is due on the date specified by your trainer. Any variations to this
arrangement must be approved in writing by your trainer.
Students will use their online study time to prepare for answers to the following questions
and submit both hardcopies and softcopies of the answers.
Instructions:
review the advice to students regarding answering knowledge questions in the Business
Works Student User Guide
comply with the due date for assessment which your assessor will provide
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 1 of 18 Last Updated: April 2021, V. No. 1.1
submit work which is original and, where necessary, properly referenced
At least two products and at least two services that need to be procured
by your organisation.
Business planning and management documents such as:
Business plans
Compliance policies and procedures
Business profile
o At least two operational activities that may bring about risks to the organisation
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 2 of 18 Last Updated: April 2021, V. No. 1.1
o Workplace templates, including or similar to the following:
Business Profile
Policies and Procedures
Procurement Report
Risk Register
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having
completed the task satisfactorily.
ASSESSMENT QUESTIONS
You are required to do research and type answers for following questions in a word
document:
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 3 of 18 Last Updated: April 2021, V. No. 1.1
Questions
Question 1
a. Outline the six basic rights of a shareholder who has purchased at least 5% of shares
in a company.
i.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 4 of 18 Last Updated: April 2021, V. No. 1.1
ii.
iii.
iv.
v.
vi.
b. Briefly explain the limited liability of shareholders who are also not a director.
Question 2
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 5 of 18 Last Updated: April 2021, V. No. 1.1
Question 3
a. Identify four types of records that must be maintained according to the WHS
regulation applicable to their state/territory
i.
ii.
iii.
iv.
b. Identify the minimum period requirement for maintaining each of the following
WHS records
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 6 of 18 Last Updated: April 2021, V. No. 1.1
Question 4
Access the ATO website to review record-keeping requirements for taxation purposes:
ATO Business
https://www.ato.gov.au/Business/
Answer the following questions related to taxation and record-keeping requirements for
businesses.
a. Outline at least three types of records related outlined according to your policy and
procedures that must be maintained to support each of the business activity
records outlined in the table below
i.a.
i.c.
ii.a.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 7 of 18 Last Updated: April 2021, V. No. 1.1
b. Identify the GST reporting and payment cycle of each the following GST turnover
rates
c. Outline the requirements you must report in annual GST return for each type of GST
turnover rate outlined in the table below.
d. Outline the four conditions that must be met to be eligible to claim GST credits
i.
ii.
iii.
iv.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 8 of 18 Last Updated: April 2021, V. No. 1.1
e. Briefly explain what a fringe benefit is using your own words.
f. Outline the seven steps required to calculate for fringe benefits tax (FBT)
i.
ii.
iii.
iv.
v.
vi.
vii.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 9 of 18 Last Updated: April 2021, V. No. 1.1
g. Outline the two evidence that records relating to FBT return must be able to show.
i.
ii.
h. Outline five types of records that can be used to support FBT return .
i.
ii.
iii.
iv.
v.
Question 5
Assume you are assisting in setting up a new branch for Bounce Fitness, a premiere
fitness centre located in Australia.
Access the Fitness Industry Award 2020 from the link provided below:
Fitness Industry Award 2020
https://www.fwc.gov.au/awards-and-agreements/awards/modern-awards/modern-awards-list
Answer the following questions related to industrial relation requirements and
principles.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 10 of 18 Last Updated: April 2021, V. No. 1.1
ii. Timeframe when ordinary hours
can be carried out on weekdays
(Monday to Friday)
b. Identify the minimum weekly rate for each of the following employee classification
levels
i. Level 1
ii. Level 2
iii. Level 3
c. Identify the three acceptable methods that wages are to be paid by an employer.
i.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 11 of 18 Last Updated: April 2021, V. No. 1.1
ii.
iii.
d. Outline the three types of time worked by a regular employee that is considered
overtime.
i.
ii.
iii.
e. Outline the three steps an employer must undertake if they are to make a definite
decision to make major changes in production, program, organisation, structure or
technology that are likely to have significant effect on employees.
i.
ii.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 12 of 18 Last Updated: April 2021, V. No. 1.1
iii.
Question 6
Answer the following questions regarding the key steps in risk management processes.
i. Identify risks
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 13 of 18 Last Updated: April 2021, V. No. 1.1
b. Complete the table below.
Briefly explain how each option for treating risk is applied in the workplace.
i. Avoid risk
c. Outline the six requirements that you must include in a risk treatment plan
i.
ii.
iii.
iv.
v.
vi.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 14 of 18 Last Updated: April 2021, V. No. 1.1
Question 7
i. Canon of Equity
iii. Canon of
Convenience
Question 8
Answer the following questions regarding updating and maintaining legal documents in
the organisation.
a. Identify two reasons why each the following documents must be maintained by an
organisation.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 15 of 18 Last Updated: April 2021, V. No. 1.1
i. planning documentation including
business cases, project plans and
related correspondence, including
approvals
b. Identify two requirements for each type of paper record-based actions that must
be done once documents are updated into a digitised versions.
Actions on Original Paper Records Requirements for Original Paper
Records
i.a.
i. To be destroyed
i.b.
ii.a.
ii. To be retained by your
organisation and used as
evidence of business…
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 16 of 18 Last Updated: April 2021, V. No. 1.1
ii.b.
iii.a.
iii. To be transferred to State
Records as State archives…
iii.b.
Question 9
a. Briefly explain the function of the Competition and Consumer Act 2010
b. Outline the five areas of consumer rights that the Competition and Consumer Act
protects.
i.
ii.
iii.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 17 of 18 Last Updated: April 2021, V. No. 1.1
iv.
v.
c. Outline three guarantees of a consumer that apply to goods that are sold through
trade or commerce.
i.
ii.
iii.
BSBESB402 - Establish legal and risk management requirements of new business ventures (Release 1)
Assessment Task 1
Page 18 of 18 Last Updated: April 2021, V. No. 1.1