You Have Been Working Under the Same Manager for Eighteen

question 176

Multiple Choice

You have been working under the same manager for eighteen months and have been allowed to work with little interference from your manager.His only concern is that you be efficient and productive, which you have been.Since your manager surrenders much of his responsibility to his subordinates, he is referred to as a(n) ____ leader.

• A) democratic
• B) participative
• C) proactive
• D) laissez-faire
• E) ineffective

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Definitions:

Ascending Order of Liquidity

A financial classification method where assets are listed from the least liquid to the most liquid, typically starting with long-term investments and ending with cash.

Inventories

Items held by a company for the purpose of sale in the ordinary course of business, work in process, or materials to be consumed in the production process.

Historical Cost

The original monetary value of an asset or investment at the time it was acquired or made.

Accounting Equation

The fundamental principle of accounting that states Assets = Liabilities + Equity, balancing a company's financials.