A standard aws account which is used to create an AWS Organization, becomes a management account for that Organization
Management account can invite other standard aws accounts to join the account. When they join, they become member accounts
Organization can have one and only one management account
Organizations follow hierarchical structure
An Organizational Root can contain member accounts or other organizational units. This is different from Account Root User
Once accounts become member accounts, their individual billing is removed & their billing is passed onto the management account. Hence Management Account is also known as Payer Accunt
Reservations and volume discounts are clubbed at the management account level