ACCA F1 Questions With Complete Solutions

Organisation correct answer: A social arrangement which pursues collective goals, which controls its own performance and which has a boundary separating it from its environment. Public sector organisations correct answer: Organisations owned or run by central or local government or government agencies. Co-operatives correct answer: Business owned by their workers or customers. [one member, one vote] Mutual associations correct answer: Mutual associations are owned by their members such as the credit union formed by financial institutions. Partnership correct answer: Someone can take on one or more partners who also share the profits of the business. Limited companies correct answer: A limited company has a separate legal personality from its owners(shareholders). The risk is restricted to the amount that they have invested. [one share, one vote] Ltd. correct answer: private limited companies Plc. correct answer: public limited companies Legal compliance costs correct answer: 合规成本