Question What are organization expenses? Describe it with the help of examples.

Expert Solution

Step 1: Definition of organization

An organization is a group of persons whose common objective is to earn profit by doing business. In the organization, the owners of the organization are treated as a separate entities. The capital invested by the owners is treated as a liability for the company.

Step 2: Meaning of organization expenses

The organization expenses are those expenses that are directly related to the formation of a corporation, limited liability company, or partnership. The organization’s expenses include legal management fees, consulting fees, accounting, and filing fees

The organization expenses are the amount spent on the process of formation of the organization.

Komal Hooda answered 2 years ago

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