Jenny Is the Owner-Manager of a Small Accounting Practice

question 41

Essay

Jenny is the owner-manager of a small accounting practice. She holds biweekly employee meetings to cover company goals, focus points for the future, and keep the employees updated on current tax changes. She has developed significant bonds with the employees, so they share work (and personal) problems with her more than in the past. Often Jenny can be found assisting new clients and aiding in paperwork completion, especially around April 15. What type of leadership style(s) does Jenny display and how?

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Definitions:

Total Profit

The net amount of money a business retains after subtracting all its expenses, taxes, and costs from its total revenue.

MC Curve

Marginal Cost Curve, which shows the change in total cost that arises when the quantity produced changes by one unit.

AVC Curve

A graph representing the Average Variable Cost of producing different quantities of output, typically showing how AVC decreases and then increases.

Market Demand

The overall sum of a particular good or service that every customer in a market is eager and able to acquire at a range of prices.