Course work

4.2

1. the main objectives of imposing government regulations in a business is to abide by the law and
not following these rules can lead to a business becoming un trust worthy and risk of losing
customers.

2. it is compulsory to register a business name when the business name is not the owners own name
and if were to add to their name like ‘motors’ or ‘pty ltd’

3. The importance of registering a domain name is that an online presence is key for a businesses
growth.

4.3

1. workcover is a government insurance which protects employees from injuries and enforce health
regulations.

2. the competion and consumer act aims to create a fair and safe market for both business and
consumers it is a Australian federal run system.

4.4

1.

  Level of government

a. defence Federal government

b. street lighting Local government

c. zoning State government

d. foreign affairs State government

e. health regulations Local government

f. housing State government

g. transport State government

h. trade. Federal government

2. the accc investigated uber and found out that they were misleading customers.
4.5

1. the main role of recruiters is to find the right staff and personal they aer used main in new
businesses.

2. a business can expect to pay a book keeper around $40 an hour.

3. it technicians may be used a business to set up the servers and trouble shoot problems that may
arise on a daily basis.

4. the role of sales professionals is to persuade customers to buy their product.

4.6

1. the separate entity principle refers to the fact that businesses and owners transactions should be
separate because it makes it easier for a business.

2. it is important to read the terms of service for a new bank account because they have many
hidden fees.

4.7

1. financial control systems are strategies or procedures to help track the cash flow of a business.

2. budgeting refers to predicting or estimating the business financial performance for a given period
of time.

3. it is m=important for a business to monitor its cash flow because it shows any places where the
business is losing money and maximises revenue.

4. Your accounts receivable policies impact how quickly you generate cash flow on sales.

4.8

1. It’s important for a business to maintain accurate financial records because it gives an accurate
idea of the money going in and out of a business.

2. Source documents are essential for the business owner as they provide the basic data necessary
for the ultimate production of financial reports.

3. a cash book allows a business to keep a tight control of its cash and monitor the businesses cash
flow position

4.9

1. benefits of making a cash book for a business are that it keeps a tight control on cash flow and
keeps track of cash purchases.
4.10

3. the benefits for retailers to source from socially responsible suppliers are that customers will be
more likely to buy from them. However a limitation of this is time and money to find suppliers.

4.11

1. the purpose of policies and procedures are to provide a roadmap for dad to day activities.

4.13

1. it is important for a business to pay attention to global and technological issues because business
owners can incorporate new technologies into the business and

2. globalisation the process where a business starts operating on an international scale.

3. the administration of a business is becoming easier with the use of technology because it is easily
accessible anywhere even through a smartphone.