Tag: Directors

Accounting Multiple Choice Question – 31 May 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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What are the primary objectives of profit-oriented and non-profit oriented organisations?

Select ONE answer:

Profit-oriented organisation Non-profit oriented organisation

  1. Output of goods/services Minimise costs
  2. Output of goods/services Provision of goods/services
  3. Maximisation of wealth Minimise costs
  4. Maximisation of wealth Provision of goods/services

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct – Profit-oriented organisations should aim to maximise shareholder wealth. Non-profit oriented organisations, such as charities, should aim to provide goods and/or services.

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Accounting Multiple Choice Question – 30 May 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Organisations can be defined or described in various ways.

Which THREE of the following are the key characteristics that are shared by all organisations?

A Synergy
B Social arrangement
C Collective goals
D Specialisation
E Controlled performance
F Exchange of goods and services

Select ONE answer:

  1. A, D, F
  2. B, D, F
  3. B, C, E
  4. C, D, E

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct – An organisation is a social arrangement that pursues collective goals, that controls its own performance, and, in addition, that has a boundary separating it from its environment. The other options are all ways that enable an organisation to increase productivity.
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.