FBT

Business organization |F1 Practice questions |ACCA FBT/F1

Business organization |F1 Practice questions |ACCA FBT/F1

In this post you will do practice for chapter “Business organization”. Which is important area for exam. So here we go with first question of our chapter “Business organization”.

Q1. An organization is the group of people who has __?

  1. Common goal
  2. Separate goal
  3. double goal
  4. different goal

Q2. Organization is differ in term of,

Select three appropriate term.

  1. Activity
  2. Legal status
  3. control and ownership
  4. Only profit organization
  5. Only non-profit organization

Q3. Limited corporations and partnerships in the United Kingdom are founded under the ___Company Law.

  1. IASB
  2. IFRS
  3. UK
  4. UN

Q4. Transforms raw materials into finished, saleable products with the use of equipment and labor, This is the definition of?

  1. Manufacturing sector
  2. Extractive Sector
  3. Construction Sector

Q5. This industry is involved in the making of bridges, skyscrapers, and highways, this is the definition of?

  1. Manufacturing sector
  2. Extractive Sector
  3. Construction Sector

Q6. This industry buys finished goods and sells them to the general population. This is the definition of?

  1. Manufacturing sector
  2. Extractive Sector
  3. Construction Sector
  4. Retailing/Distribution Sector

Q7. American Express is an example of ?

  1. Extractive Sector
  2. Construction Sector
  3. Retailing/Distribution Sector
  4. Service sector
Q8

___ organizations that make a profit are also known as value profit making organizations such as Sole traders, Partnerships, Private limited, Public limited.

  1. Not For Profit Organizations
  2. Public Sector Organizations
  3. Co-operatives
  4. commercial Sector

Q9. Which organizations do not exist to produce money; rather, they exist to help society or the environment.

  1. Not For Profit Organizations
  2. Public Sector Organizations
  3. Co-operatives
  4. commercial Sector

Q10. The government owns or has control over these entities. They work for the people’s benefit. Select the correct option.

  1. Not For Profit Organizations
  2. Public Sector Organizations
  3. Co-operatives
  4. commercial Sector

Q11. An organization or association whose facilities and services are jointly owned and administered by those who use them. Select the correct option.

  1. Not For Profit Organizations
  2. Public Sector Organizations
  3. Co-operatives
  4. commercial Sector

Q12. The organization is owned and controlled by a single person Is known as?

  1. Partnership
  2. Co-operatives
  3. Sole trader
  4. Limited companies

Q13. The power and authority of a business are legally separated in limited businesses. This line belongs to?

  1. Partnership
  2. Co-operatives
  3. Sole trader
  4. Limited companies

Q14. Owned by Friends and family and Provide funds by founders, this belongs?

  1. Private company
  2. Public company
  3. Co-operatives
  4. Sole trader

Q15. When 2 or more persons pool their resources to collectively own and manage a firm, they form a___?

  1. Partnership
  2. Co-operatives
  3. Sole trader
  4. Limited companies

Answers

  1. Common goal
  2. Activity, Legal status, control and ownership
  3. UK
  4. Manufacturing sector
  5. Construction Sector
  6. Retailing/Distribution Sector
  7. Service sector
  8. commercial Sector
  9. Not For Profit Organizations
  10. Public Sector Organizations
  11. Co-operatives
  12. Sole trader
  13. Limited companies
  14. Private company
  15. Partnership

Must remember that “Business organization” is very important chapter in exam point of view, Practice and read the notes as well which is available on the site. (LINK)

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Read other notes for FBT

Chapter 2: Stakeholders| stakeholders types and Mendelow’s framework-F1 ACCA

Chapter 3: Business Environment |Political and Legal Factors |FBT ACCA notes

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