AAT BUSINESS AWARENESS EXAM
UPDATED QUESTIONS AND CORRECT
ANSWERS.
4 types of organisations - ANS Sole traders
Partnerships
Limited company (Ltd or Plc)
Limited liability partnership
What does listed mean? - ANS Means they can advertise and sell their shares directly to the
public
Rules re listed - ANS 1. Only public companies can be listed but not all public companies are
listed
Not for profit organisations - ANS Public sector organisation (goods and services by and for
the government)
Not for profit organisations
Charities, Nationwide Bank
How are public sector organisations funded - ANS By tax
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, Examples of public sector organisations - ANS Police, army, hospital, schools
3 aims of public sector groups - ANS 1 make surplus
2 provide a service
3 provide membership
5 Types of funding - ANS 1 Savings - low risk
2 New capital introduced
3 Profits retained
4 Lending
5 Working capital
6 features of business organisations - ANS 1 interrelated individuals - made up of people with
similar skill set (for example sales team or finance team
2 goal congruence - everyone working towards same objective
3 cooperative relationships (internal & external)
4 responsibility and authority
5 teams
6 division of work
Organisational structure (4) - ANS 1 communication lines
2 chains of command
3 responsibilities
4 teams
Types of structure - ANS 1 functional (small-medium)
Do similar tasks
2 divisional (bigger)
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
UPDATED QUESTIONS AND CORRECT
ANSWERS.
4 types of organisations - ANS Sole traders
Partnerships
Limited company (Ltd or Plc)
Limited liability partnership
What does listed mean? - ANS Means they can advertise and sell their shares directly to the
public
Rules re listed - ANS 1. Only public companies can be listed but not all public companies are
listed
Not for profit organisations - ANS Public sector organisation (goods and services by and for
the government)
Not for profit organisations
Charities, Nationwide Bank
How are public sector organisations funded - ANS By tax
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, Examples of public sector organisations - ANS Police, army, hospital, schools
3 aims of public sector groups - ANS 1 make surplus
2 provide a service
3 provide membership
5 Types of funding - ANS 1 Savings - low risk
2 New capital introduced
3 Profits retained
4 Lending
5 Working capital
6 features of business organisations - ANS 1 interrelated individuals - made up of people with
similar skill set (for example sales team or finance team
2 goal congruence - everyone working towards same objective
3 cooperative relationships (internal & external)
4 responsibility and authority
5 teams
6 division of work
Organisational structure (4) - ANS 1 communication lines
2 chains of command
3 responsibilities
4 teams
Types of structure - ANS 1 functional (small-medium)
Do similar tasks
2 divisional (bigger)
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
