That Wibtek motherboard looks rather strange, I'd go with Asus one just because of more known manufacturer. 400W PSU should be fine, this is a low tdp build. Althought again the brand of the PSU is pretty strange.
But you asked will it work? Yes it will work. I would upgrade that Radeon 240 because it isn't a card for gaming. Getting 750Ti would make this system more "balanced". Didn't quite understand the purpose of this build, but it will do for browser games and f2p games, for entertainment use.
EDIT: If you can explain more about the use of this build I can give more in depth answer.