Michael Has Been a Manager at Rexgen Systems for Two

question 28

Multiple Choice

Michael has been a manager at Rexgen Systems for two years. He is known to be a risk-taker and always waits for the next big project. He is a hard worker and takes initiative to handle critical issues. Michael is a _____.

• A) passive manager
• B) change leader
• C) benevolent autocrat
• D) group thinker
• E) status quo manager

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Definitions:

Ledger

A book or collection of financial accounts where transactions are recorded.

Trial Balance

A report that lists all the accounts and their balances at a particular time, used to verify that total debits equal total credits in the double-entry accounting system.

T-Account

A simplified account structure used for teaching and visualizing debits and credits, consisting of a title across the top and a left (debit) and right (credit) side.

Net Income

The residual income of a company after all expenses have been deducted from revenues.