Formal Organizations Are

question 20

Multiple Choice

Formal organizations are

• A)small groups with elected leaders.
• B)large secondary groups with a goal orientation.
• C)networks that have many members.
• D)only agencies that are part of the government.

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Definitions:

Retail Price

The price at which goods or services are sold to the end consumer, inclusive of any markup from wholesalers or distributors.

Mark-up on Cost

The percentage added to the cost of goods to cover overhead and profit; the difference between the cost of a product and its selling price.

Operating Expenses

The day-to-day expenses involved in running a business, such as rent, utilities, and payroll, crucial for maintaining operations.

Office Furniture

Furniture engineered for use in a workplace setting, including desks, chairs, and filing cabinets.