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43. what is the difference between formal and informal structure?

Formal Organization is an organisation in which job of each member is clearly defined, whose authority, responsibility and accountability are fixed. Differently, informal organisation is formed spontaneously by members. Formal organisation is aimed at fulfilling organisation's objectives

Explanation:

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

answer; institution based;