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Bureaucracy Is a Hierarchical Formal Organization Characterized by Rationality and Efficiency

question 24

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Bureaucracy is a hierarchical formal organization characterized by rationality and efficiency.


Definitions:

Chart Of Accounts

A numbering system of accounts that lists the account titles and account numbers to be used by a company.

Account Balance

The difference between the debits and credits recorded in an account, representing the net value at a point in time.

Compound Entry

In accounting, it refers to a journal entry that involves more than two accounts whereby multiple debits and/or credits are made.

Accounts Payable

Liabilities representing amounts owed by an entity to suppliers or creditors for goods and services received but not yet paid for.

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