Formal Organizations Are

question 95

Multiple Choice

Formal organizations are

• A) large secondary groups organized to achieve goals efficiently.
• B) small groups with elected leaders.
• C) government agencies with multiple goals.
• D) networks that have clear social boundaries.

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Definitions:

Automatic Financing

A preapproved loan where funds are automatically available when needed.

Factoring Receivables

A transaction in which a company trades its outstanding invoices to another entity at a lower value to quickly secure cash.

Customer Payment

The process through which customers complete transactions to pay for goods or services received from a business.

Exchange Rate

The value of one currency for the purpose of conversion to another. It indicates how much of one currency can be exchanged for another currency.