Association of Chartered Certified Accountants (ACCA) Certification Practice Test

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Which of the following is NOT a type of organization mentioned?

Commercial business organizations
Not-for-profit organizations
Single-owner businesses
Cooperatives

The correct answer is: Single-owner businesses

The correct understanding of the question is rooted in the fact that the other listed types of organizations are widely recognized classifications in business theory and practice. Commercial business organizations are entities that operate to earn profit, whereas not-for-profit organizations aim to serve a particular social cause without the goal of distributing profits to owners or shareholders. Cooperatives are organizations owned and operated by a group of individuals for their mutual benefit. Single-owner businesses, although they do exist, are often categorized under a broader classification known as sole proprietorships rather than being recognized as a distinct type of organization on their own. Therefore, identifying single-owner businesses as an organization type that does not align with the commonly recognized classifications within this context is supported by the established terminology and definitions used in the study of commerce and accounting.