ACCA F1 TEST BANK QUESTIONS AND ANSWERS

1. An Organization is a social arrangement which pursues collective goals, which controls its own performance. A. True B. False. correct answer: A 2. Organization is not preoccupied with performance. A. True B. False correct answer: B Organization is preoccupied with performance 3. Organization accumulates and share knowledge. A. True B. False correct answer: A 4. Organization enable people to be more .................................... A. Limited B. Educated C. Productive D. None of the above. correct answer: C 5. Public sector companies are owned by the ....................................... A. Foreigner B. Locals C. Government D. NGOs. correct answer: C 6. The organization who converting one resources into another are ................................... E.g. Coal into electric. A. Manufacturing B. Service industry C. Retail and distribution D. Energy Sector. correct answer: D 7. Retailing and Distributors companies extract and refine raw material. A. True B. False correct answer: B Retail and Dist companies delivering goods to the end users. Above is the definition of manufacturing co.