"... the formation of the ASDA name occurred in 1965 with the merger of the Asquith chain of three supermarkets and Associated Dairies; ASDA is an abbreviation of ASquith and DAiries."
I'm with Associated Dairies. I read an article about the origins of the company in "The Grocer" magazine some time back written by a couple of the company directors and well before Wal-Mart took them over.
They confirmed the Associated Dairies link and said that the Asquith rumour was false.
As far as Wikipedia goes, anyone who takes heed of a resource which is user editable by the learned and ignorant alike badly needs to find a reliable resource elsewhere.
Just confirming FAB didn't stand for anything and if the question setter says it does...they are wrong! If it helps, I am a member of Fanderson (The Gerry Anderson Appreciation society ... got the anorak too!), so I know what I'm talking about.
PB - also SIR (Spectrum is Red). What about PWOR in Stingray?