Formal Groups Are Best Defined as Groups That Are

question 64

Multiple Choice

Formal groups are best defined as groups that are

• A) set up by management to meet organizational objectives.
• B) formed when individuals in an organization develop relationships to meet personal needs.
• C) bound together by common interests such as political beliefs and social activities.
• D) created by members who are prone to social loafing and groupthink.

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Definitions:

Actual Operations

This term might be referring to the real, day-to-day activities or processes carried out by a business or organization, but it's not a standard accounting or finance term in itself.

Sales Budget Report

A financial plan that estimates future sales in units or monetary terms, often used to guide pricing, production, and marketing strategies.

Favorable Difference

A financial term indicating that actual revenues are higher than planned revenues or actual expenses are lower than planned expenses.

Unfavorable Difference

A situation where actual costs exceed the standard or expected costs, often referred to in budgeting and variance analysis.