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What Is an Organization? Define and Describe the Basic Characteristics

question 42

Essay

What is an organization? Define and describe the basic characteristics of an organization and give examples of the various types of organizations.Then select and organization you are familiar with (it could be your family,school,workplace,church group,or a public company etc. )and describe in detail how this organization meets the characteristics you have just described.


Definitions:

Contract Cost

is the total expense that a company recognizes on its books for a specific contract over its duration, encompassing labor, materials, and overhead.

Deductible IRA Contribution

A contribution to an Individual Retirement Account (IRA) for which the taxpayer can claim a tax deduction, subject to certain conditions and limits.

Pension Plan

A retirement plan funded by employers or employees, or both, paying out a fixed sum to retirees, often based on salary and years of service.

AGI

Short for Adjusted Gross Income; it is your gross income after adjustments and deductions, crucial for tax calculations.

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