Formal Groups Are Commonly Divided into ________ and ________

question 27

Multiple Choice

Formal groups are commonly divided into ________ and ________.

• A)transitory groups;recurrent groups
• B)in-groups;out-groups
• C)command groups;task groups
• D)interest groups;friendship groups
• E)primary groups;secondary groups

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Definitions:

Agency Fund

An agency fund is a fiduciary account held by a governmental unit that contains resources received and held as an agent for others, to be expended or invested according to the principal's direction.

Plant Assets

Long-term tangible assets used in the operations of a business that are not intended for resale.

Expenditures

Outflows of cash or other valuable assets from a person or company to pay for goods or services.

Encumbrances

Claims, liens, or charges on property or funds that affect or limit their use until the encumbrance is lifted.