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Define bureaucracy and its five characteristics.How did Max Weber describe bureaucracies?
Residual Interest
The interest remaining in a trust or estate once all prior obligations, claims, or interests have been satisfied.
Equity Instrument
Any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.
Derivative Instrument
A financial contract whose value is derived from the value of an underlying asset, index, or rate.
Liabilities
Financial obligations of a business, including money owed to creditors or suppliers.
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